The Old Regular Savers Discussion Thread 28/12/24-29/1/26

friolento

allegro120 said:

surreysaver said:

allegro120 said:

Kim_13 said:

allegro120 said:

janusd said:

Kim_13 said:

Chaykin said:

Kim_13 said:

If you manually open a new RS, you can pay into the old one and the new one in the same month, as the new account number means they are considered different accounts.

Halifax - I thought you can only have one Regular Saver with them? Or is this something they don't enforce and, in actual fact, you can open more than one?

You can only have one, but if you close the Everyday Saver and re-open a new RS manually when it matures, the maturing and new RS can both have £250 paid into in the same month. If your Regular Saver is autorenewed, you are limited to £250 between the two.

while the Halifax RS is being discussed, my first RS with them matures on the 1st December (£3k balance). I received a letter from them asking what I want to do with the Everyday Saver (which obviously also expires on 1st December) - renew for 12 months, move (£0 balance so irrelevant) or close... if I do nothing, it converts to an Instant Saver on the 2nd.
I get that the RS auto-renews, but what do I do about this Everyday account? should I close it now or let the RS balance transfer to it at maturity? The Halifax RS page says to keep it open... any guidance would be appreciated.

I don’t close instant saver, just withdraw the balance. Cant see any point in complicating things. 

If the rate changes and you no longer want to renew, then doing nothing would complicate things (because the autorenewal will go ahead and you would have to use a workaround in order to be able to open another RS; get it wrong and you will be blocked from opening another until the 12 month anniversary of the autorenewed account.) 

Unlike Lloyds and BoS, Halifax doesn't restrict you from closing and opening at any time you want.  Or has this changed?  Several years ago I had a break from Halifax RS because the rate was too low, it was very simple - I just closed the account.

The T&Cs restrict you, but if you know which buttons to press on your computer you can work around it.
I believe you have to close the associated easy access account before the first anniversary of the Regular Saver if you want to adhere to T&Cs to prevent the Regular Saver from automatically rolling over 

Yes, I've done it with Lloyds when the rate went up, but still consider it as a restriction.  Most savers wouldn't have a clue how to refresh, it's not obvious.  

It's not meant to be obvious, isn't it? Refreshing is an MSE-thing (and long may it last), not a feature offered by providers. 

Born2Save_3

allegro120 said:

Born2Save_3 said:

Loughborough RS Maturity Experience

My RS matured yesterday,Tuesday. I was advised last week that I could complete the maturity instructions letter I'd received in the post some weeks ago and email a scan to them; no passbook required. I did this late Sunday night and confirmed that it had been received, through the SMTP service I use. I called Monday afternoon and confirmed with a member of staff that the instructions had been received, accepted and that as the deadline for LBS submitting BACS instructions for the day had passed, a CHAPS payment would be made free of charge. I thought there may be a chance of the full amount plus profit into my nominated on Tuesday, but this did not appear. It was the maturity day after all.  Still nothing today, Wednesday, so called this afternoon and told it had been actioned and I could expect by 5pm.  And so it was. Overall, easier to deal with than passbooks and post, and the LBS staff are friendly and helpful. Was my first maturity process with LBS, so more chasing than I would have liked.  A pity though that I could not roll over into another RS or renew. Some you can, some you can't; the pursuit continues...

HTH

That's good news!  Back in September 2024 I was told in branch that the only free option is the cheque. 

CHAPS was only free because I spoke the the right person, Head of Savings, I think, and they hadn't looked at my instructions till after maybe 3pm, which is some deadline they have for setting up BACS transfers.  If they had actioned my maturity instructions before their deadline, it would have been BACS and three working days, so maybe Thursday or Friday if lucky or even the following Monday,  I was told that BACS is only possible if the maturity instructions are received before the maturity date, if received after the maturity date it would be a cheque. Good thing is they seem to be ok even if you send instructions last minute by email. I had asked about this and got names at least twice last week, just in case.

Born2Save_3

nomorekids said:

Born2Save_3 said:

Hanley Economic BS 1 Year Branch Smart Saver

Has anyone had any luck opening the branch account by way of a postal application or without visiting a banch ?

Yes I have both branch and online, the branch one cost me a stamp.

Could you elaborate on how you managed to successfully open the branch version by post, please ?

chris_the_bee

nomorekids said:

Born2Save_3 said:

Hanley Economic BS 1 Year Branch Smart Saver

Has anyone had any luck opening the branch account by way of a postal application or without visiting a banch ?

Yes I have both branch and online, the branch one cost me a stamp.

Hanley Economic BS 1 Year Branch Smart Saver
How did you obtain an application form?

jameseonline

JTBasketman said:

For information and time saving, the "Smile Bank" current account does not qualify for the Co-op Bank – 7% Regular Saver, although it allowed me to fill in all the application, even as far as accepting the Smile Bank details for the regular payment. Next day received an email saying:
"Unfortunately, we’re currently unable to open this account for you as the terms and conditions require you to hold a qualifying current account product with The Co‑operative Bank". Therefore Smile does not = Co-op.
Not smiling.

2 separate brands, operated by COOP, I imagine I can't open a first direct account if I only have a HSBC or open a Lloyds if I only own a Halifax either.

So yeah get yourself a CO OP bank account then get the regular saver for it

Bridlington1

chris_the_bee said:

nomorekids said:

Born2Save_3 said:

Hanley Economic BS 1 Year Branch Smart Saver

Has anyone had any luck opening the branch account by way of a postal application or without visiting a banch ?

Yes I have both branch and online, the branch one cost me a stamp.

Hanley Economic BS 1 Year Branch Smart Saver
How did you obtain an application form?

There's a generic application form on their website so I'm assuming this was used:
https://cdn.sanity.io/files/kupyyjpp/production/de515e542850c6a356c84930c8e293fe8f63fbf2.pdf

ordnancesurvey84

Born2Save_3 said:

Hanley Economic BS 1 Year Branch Smart Saver

Has anyone had any luck opening the branch account by way of a postal application or without visiting a banch ?

My attempt failed I completed a paper application form and received the following secure message a few days later:

Thank you for your recent application to open a Branch Smart Saver account.

I attempted to contact you by phone to discuss your application, but was unfortunately unable to reach you.

Please note that, as outlined in the account’s terms and conditions, this product can only be opened in person at one of our branches. As such, we are unable to proceed with your application submitted.

The form you completed has been securely disposed of in accordance with our data protection procedures.

If you have any further queries, please do not hesitate to contact us.

Regards

 

savethepandas

nomorekids said:

Born2Save_3 said:

Hanley Economic BS 1 Year Branch Smart Saver

Yes I have both branch and online, the branch one cost me a stamp.

Just needed to contact Hanley Economic and they told me to use:

FREEPOST HEBS

ForumUser7

savethepandas said:

nomorekids said:

Born2Save_3 said:

Hanley Economic BS 1 Year Branch Smart Saver

Yes I have both branch and online, the branch one cost me a stamp.

Just needed to contact Hanley Economic and they told me to use:

FREEPOST HEBS

They told you to post in an application to FREEPOST HEBS?

flaneurs_lobster

ForumUser7 said:

savethepandas said:

nomorekids said:

Born2Save_3 said:

Hanley Economic BS 1 Year Branch Smart Saver

Yes I have both branch and online, the branch one cost me a stamp.

Just needed to contact Hanley Economic and they told me to use:

FREEPOST HEBS

They told you to post in an application to FREEPOST HEBS?

From The Sun financial pages 16 May 2023

 If you wish to apply by post return your completed and signed application form, which you can find on the Hanely Economic website, together with your cheque for your initial investment. 
Your cheque should be made payable to: “Hanley Economic Building Society/Your Name”.
Post everything to FREEPOST HEBS. 

Their spelling mistake.