The Top Regular Savers Discussion Thread

GetRichOrDieSaving

Dizzycap said:

GetRichOrDieSaving said:

Is there an option to close the Gate House RS2 early? Can’t seem to find an option on the app. 

Yes, but you have to go online to close

Great. Thanks for confirming! 

Edit: I can’t find the option online, any ideas? 

Hattie627

Yorkshire Building Society

My Loyalty RS matures on 22 February when it morphs into a lower-paying account. That's a  Saturday.

Does anyone know if the morphing will happen on Saturday or not until Monday? 

If I move the funds out to my nominated account, will the funds arrive in my nominated account on the same day requested?

Many thanks

Kim_13

Hattie627 said:

Yorkshire Building Society

My Loyalty RS matures on 22 February when it morphs into a lower-paying account. That's a  Saturday.

Does anyone know if the morphing will happen on Saturday or not until Monday? 

If I move the funds out to my nominated account, will the funds arrive in my nominated account on the same day requested?

Many thanks

Next working day so I would be tempted to request the bulk now to land tomorrow (or as much as you can redistribute then.) If you have already used your withdrawal day you will only be able to request closure.

Even if the morphing happened on a Saturday, you would not be able to get them to pay the proceeds to an external account until Monday.

allegro120

Hattie627 said:

Yorkshire Building Society

My Loyalty RS matures on 22 February when it morphs into a lower-paying account. That's a  Saturday.

Does anyone know if the morphing will happen on Saturday or not until Monday? 

If I move the funds out to my nominated account, will the funds arrive in my nominated account on the same day requested?

Many thanks

According to their e-mail, it should happen on Saturday - "On 22-FEB-2025 we'll automatically transfer your savings to our Easy Access Saver Reward, in line with the terms and conditions of your account. This pays a variable^ interest rate, currently 4.40% Gross* p.a./AER** (correct as of today, but as a variable rate product this is subject to change)"

It's the next day delivery. "If you sent funds to an external account, they will normally reach the destination bank by the end of the following day."  My Friday withdrawal has arrived on Saturday morning, so I assume that Saturday withdrawal will arrive Sunday.

Bridlington1

Dizzycap said:

GetRichOrDieSaving said:

Is there an option to close the Gate House RS2 early? Can’t seem to find an option on the app. 

Yes, but you have to go online to close

My understanding of the Ts&Cs was that once the cancellation period had ended the account didn't allow withdrawals/early closure till the end of its term unless they announced a decrease to their expected profit rate.

https://web.archive.org/web/20240319170801/https://assets.gatehousebank.com/production/downloads/Regular-Saver-Issue-2-Key-Product-Information.pdf

Kim_13

allegro120 said:

Hattie627 said:

Yorkshire Building Society

My Loyalty RS matures on 22 February when it morphs into a lower-paying account. That's a  Saturday.

Does anyone know if the morphing will happen on Saturday or not until Monday? 

If I move the funds out to my nominated account, will the funds arrive in my nominated account on the same day requested?

Many thanks

According to their e-mail, it should happen on Saturday - "On 22-FEB-2025 we'll automatically transfer your savings to our Easy Access Saver Reward, in line with the terms and conditions of your account. This pays a variable^ interest rate, currently 4.40% Gross* p.a./AER** (correct as of today, but as a variable rate product this is subject to change)"

It's the next day delivery. "If you sent funds to an external account, they will normally reach the destination bank by the end of the following day."  My Friday withdrawal has arrived on Saturday morning, so I assume that Saturday withdrawal will arrive Sunday.

Expect the bank to date such a payment as Monday (Chase are one of the few exceptions who allow you to use the received funds straight away.)

Hattie627

allegro120 said:

Hattie627 said:

Yorkshire Building Society

My Loyalty RS matures on 22 February when it morphs into a lower-paying account. That's a  Saturday.

Does anyone know if the morphing will happen on Saturday or not until Monday? 

If I move the funds out to my nominated account, will the funds arrive in my nominated account on the same day requested?

Many thanks

According to their e-mail, it should happen on Saturday - "On 22-FEB-2025 we'll automatically transfer your savings to our Easy Access Saver Reward, in line with the terms and conditions of your account. This pays a variable^ interest rate, currently 4.40% Gross* p.a./AER** (correct as of today, but as a variable rate product this is subject to change)"

It's the next day delivery. "If you sent funds to an external account, they will normally reach the destination bank by the end of the following day."  My Friday withdrawal has arrived on Saturday morning, so I assume that Saturday withdrawal will arrive Sunday.

Yorkshire BS Easy Access Saver Reward

That's actually quite a good rate for easy access with no withdrawal restrictions. I may just leave the matured proceeds there for the time being. No great incentive to move out quickly.
PS I've checked my email but can't trace having received a maturity email.

simonsmithsays

Hattie627 said:

allegro120 said:

Hattie627 said:

Yorkshire Building Society

My Loyalty RS matures on 22 February when it morphs into a lower-paying account. That's a  Saturday.

Does anyone know if the morphing will happen on Saturday or not until Monday? 

If I move the funds out to my nominated account, will the funds arrive in my nominated account on the same day requested?

Many thanks

According to their e-mail, it should happen on Saturday - "On 22-FEB-2025 we'll automatically transfer your savings to our Easy Access Saver Reward, in line with the terms and conditions of your account. This pays a variable^ interest rate, currently 4.40% Gross* p.a./AER** (correct as of today, but as a variable rate product this is subject to change)"

It's the next day delivery. "If you sent funds to an external account, they will normally reach the destination bank by the end of the following day."  My Friday withdrawal has arrived on Saturday morning, so I assume that Saturday withdrawal will arrive Sunday.

Yorkshire BS Easy Access Saver Reward

That's actually quite a good rate for easy access with no withdrawal restrictions. I may just leave the matured proceeds there for the time being. No great incentive to move out quickly.
PS I've checked my email but can't trace having received a maturity email.

Here you go

Dizzycap

Bridlington1 said:

Dizzycap said:

GetRichOrDieSaving said:

Is there an option to close the Gate House RS2 early? Can’t seem to find an option on the app. 

Yes, but you have to go online to close

My understanding of the Ts&Cs was that once the cancellation period had ended the account didn't allow withdrawals/early closure till the end of its term unless they announced a decrease to their expected profit rate.

https://web.archive.org/web/20240319170801/https://assets.gatehousebank.com/production/downloads/Regular-Saver-Issue-2-Key-Product-Information.pdf

That's interesting because I'm sure I had a 'close this account' option available last month because I was debating whether to close or leave, and I've held the new RS since a month after it was launched.
I can't see them having closed a loop-hole for closure, so it maybe I've got confused with another of their accounts?

Stargunner

Hattie627 said:

allegro120 said:

Hattie627 said:

Yorkshire Building Society

My Loyalty RS matures on 22 February when it morphs into a lower-paying account. That's a  Saturday.

Does anyone know if the morphing will happen on Saturday or not until Monday? 

If I move the funds out to my nominated account, will the funds arrive in my nominated account on the same day requested?

Many thanks

According to their e-mail, it should happen on Saturday - "On 22-FEB-2025 we'll automatically transfer your savings to our Easy Access Saver Reward, in line with the terms and conditions of your account. This pays a variable^ interest rate, currently 4.40% Gross* p.a./AER** (correct as of today, but as a variable rate product this is subject to change)"

It's the next day delivery. "If you sent funds to an external account, they will normally reach the destination bank by the end of the following day."  My Friday withdrawal has arrived on Saturday morning, so I assume that Saturday withdrawal will arrive Sunday.

Yorkshire BS Easy Access Saver Reward

That's actually quite a good rate for easy access with no withdrawal restrictions. I may just leave the matured proceeds there for the time being. No great incentive to move out quickly.
PS I've checked my email but can't trace having received a maturity email.

Don't leave it in there for too long, as the interest rate is reducing to 4.15% on the 11th March.