The Top Regular Savers Discussion Thread

savethepandas

Coventry BS Loyalty Regular Savers

Mine matured and turned into a 2.45% Easy saver on Saturday, my partner's on Sunday, had thought we would need to wait until Monday for access.

Kim_13

savethepandas said:

Coventry BS Loyalty Regular Savers

Mine matured and turned into a 2.45% Easy saver on Saturday, my partner's on Sunday, had thought we would need to wait until Monday for access.

Were you able to get yours into a Current Account today? That is next day, so I had in mind that Coventry RS proceeds would only land on a weekday.

Mine matures on a Satuday as I wasn’t as careful about when I opened it as I was with the Sunny Day Saver. Is an internal transfer processed at the weekend (if you requested one?)

Cweb

My Cov Loyalty Regular Saver also matured on Saturday (15th), so was surprised with interest showing on Saturday and transferred the lot into the 4-access on Saturday showing as credited immediately. External payments are next working day.

apt

Dizzycap said:

For those who hold the Club Lloyds RS @ 6.25%, any associated Club Lloyds Current Account fee is increasing from £3 to £5 per month from 2nd June, 2025. Usual waiver of acct fee for £2,000 or more credit. Credit amount has not changed for the fee to be waivered.

They are also removing foreign currency debit card transaction fees from 14 April.

Bridlington1

surreysaver said:

Bridlington1 said:

surreysaver said:

PowerSavingMode said:

surreysaver said:

Bridlington1 said:

surreysaver said:

Speculator said:

Melton Adcock Regular Saver

Posted my application on Wednesday, account showing online this morning with zero balance.

Didn't realise you'd be able to see it online. Thought it was all managed offline. I might pop up and open an account then, I wasn't going to bother as I'd thought there was no online visibility 

It's also worth noting as well that you can make withdrawals from Melton's regular savers over the phone. IIRC when I made a withdrawal from one of their accounts last year the funds took a day or so to arrive in my nominated account.

Do you know whether I'd be able to withdraw online from Melton's Aldcock?

The product literature says: "you can make withdrawals from your account without notice or penalty, by visiting a branch of the Society or by sending us your passbook and written instructions to us. You can also transfer funds from your account to a nominated bank or building society account."

I presume that means you can either message (online?) Melton with your withdrawal instructions...

That's the trouble with presumptions. It says nothing about online visibility, but you have to manage it by post or in person. Another poster says they can see the account online. So it all starts to become a bit vague. That's why I'm asking!

All I can do in this case is relay my own experience with Melton BS.

I can confirm that last year I phoned them to make a withdrawal from my Melton RS Issue 4 and they sent the funds to my nominated bank account despite that account being advertised as branch/post, in that respect it's not too dissimilar to the way Leeds BS allows withdrawals over the phone.

Whilst I can view my Melton BS regular savers online I couldn't see an option in online banking to make a withdrawal when I tried last year unless I've missed it. I can't recall ever sending them a secure message online to make a withdrawal though so do not know if this is possible.

I'll be needing to make a withdrawal from Melton next month anyway to feed other regular savers so shall attempt to schedule a withdrawal by faster payment by secure message.

I don't mind the odd account that involves faff! I'll have Nottinghamshire regular savers as it's easy for me to get to a branch. So I'll do the same with Melton - Grantham just happens to have a branch of each opposite each other!
I suppose as the Alcock has a long shelf life it's probably one worth having 

So far as I'm concerned it's a good account to grab. It's 6.5%, unlimited penalty free withdrawals and has about 2 1/2 years to go till it matures.

There's also the possibility that they could start allowing you to make online withdrawals at some point before the end of the account term given it's a while away.

Furness BS did that not so long back. Furness BS's regular savers used to be branch/post with accounts being able to be viewed in online banking and withdrawals (but not closure) being able to be done by phone. When they rolled out a new online banking system not so long back they started allowing online withdrawals on accounts and this change was applied to existing accounts (including NLA accounts).

allegro120

surreysaver said:

Bridlington1 said:

surreysaver said:

PowerSavingMode said:

surreysaver said:

Bridlington1 said:

surreysaver said:

Speculator said:

Melton Adcock Regular Saver

Posted my application on Wednesday, account showing online this morning with zero balance.

Didn't realise you'd be able to see it online. Thought it was all managed offline. I might pop up and open an account then, I wasn't going to bother as I'd thought there was no online visibility 

It's also worth noting as well that you can make withdrawals from Melton's regular savers over the phone. IIRC when I made a withdrawal from one of their accounts last year the funds took a day or so to arrive in my nominated account.

Do you know whether I'd be able to withdraw online from Melton's Aldcock?

The product literature says: "you can make withdrawals from your account without notice or penalty, by visiting a branch of the Society or by sending us your passbook and written instructions to us. You can also transfer funds from your account to a nominated bank or building society account."

I presume that means you can either message (online?) Melton with your withdrawal instructions...

That's the trouble with presumptions. It says nothing about online visibility, but you have to manage it by post or in person. Another poster says they can see the account online. So it all starts to become a bit vague. That's why I'm asking!

All I can do in this case is relay my own experience with Melton BS.

I can confirm that last year I phoned them to make a withdrawal from my Melton RS Issue 4 and they sent the funds to my nominated bank account despite that account being advertised as branch/post, in that respect it's not too dissimilar to the way Leeds BS allows withdrawals over the phone.

Whilst I can view my Melton BS regular savers online I couldn't see an option in online banking to make a withdrawal when I tried last year unless I've missed it. I can't recall ever sending them a secure message online to make a withdrawal though so do not know if this is possible.

I'll be needing to make a withdrawal from Melton next month anyway to feed other regular savers so shall attempt to schedule a withdrawal by faster payment by secure message.

I don't mind the odd account that involves faff! I'll have Nottinghamshire regular savers as it's easy for me to get to a branch. So I'll do the same with Melton - Grantham just happens to have a branch of each opposite each other!
I suppose as the Alcock has a long shelf life it's probably one worth having 

Definitely worth grabbing if you can.  Long term and very competitive starting rate.  The rate will probably go down, but historically most similar RS accounts stay competitive throughout the term.  Nottingham RS reduced from 6% to 5.75% and to 5.5% in 6 month time, but I'm still very with £500pm at 5.5%.

Kim_13

Bridlington1 said:

surreysaver said:

Bridlington1 said:

surreysaver said:

PowerSavingMode said:

surreysaver said:

Bridlington1 said:

surreysaver said:

Speculator said:

Melton Adcock Regular Saver

Posted my application on Wednesday, account showing online this morning with zero balance.

Didn't realise you'd be able to see it online. Thought it was all managed offline. I might pop up and open an account then, I wasn't going to bother as I'd thought there was no online visibility 

It's also worth noting as well that you can make withdrawals from Melton's regular savers over the phone. IIRC when I made a withdrawal from one of their accounts last year the funds took a day or so to arrive in my nominated account.

Do you know whether I'd be able to withdraw online from Melton's Aldcock?

The product literature says: "you can make withdrawals from your account without notice or penalty, by visiting a branch of the Society or by sending us your passbook and written instructions to us. You can also transfer funds from your account to a nominated bank or building society account."

I presume that means you can either message (online?) Melton with your withdrawal instructions...

That's the trouble with presumptions. It says nothing about online visibility, but you have to manage it by post or in person. Another poster says they can see the account online. So it all starts to become a bit vague. That's why I'm asking!

All I can do in this case is relay my own experience with Melton BS.

I can confirm that last year I phoned them to make a withdrawal from my Melton RS Issue 4 and they sent the funds to my nominated bank account despite that account being advertised as branch/post, in that respect it's not too dissimilar to the way Leeds BS allows withdrawals over the phone.

Whilst I can view my Melton BS regular savers online I couldn't see an option in online banking to make a withdrawal when I tried last year unless I've missed it. I can't recall ever sending them a secure message online to make a withdrawal though so do not know if this is possible.

I'll be needing to make a withdrawal from Melton next month anyway to feed other regular savers so shall attempt to schedule a withdrawal by faster payment by secure message.

I don't mind the odd account that involves faff! I'll have Nottinghamshire regular savers as it's easy for me to get to a branch. So I'll do the same with Melton - Grantham just happens to have a branch of each opposite each other!
I suppose as the Alcock has a long shelf life it's probably one worth having 

So far as I'm concerned it's a good account to grab. It's 6.5%, unlimited penalty free withdrawals and has about 2 1/2 years to go till it matures.

There's also the possibility that they could start allowing you to make online withdrawals at some point before the end of the account term given it's a while away.

Furness BS did that not so long back. Furness BS's regular savers used to be branch/post with accounts being able to be viewed in online banking and withdrawals (but not closure) being able to be done by phone. When they rolled out a new online banking system not so long back they started allowing online withdrawals on accounts and this change was applied to existing accounts (including NLA accounts).

Hinckley and Rugby also, opened as a 2 year account in September 2022. While officially withdrawals required the passbook (an online system probably couldn’t cope with situations where the notice period didn’t apply due to rate reduction, and perhaps designing one to automate the process of giving notice and then permitting a withdrawal during the time period specified thereafter would be too expensive) but when it matured I was able to set and withdraw to a nominated account online, and just left £1 and filed the passbook in case it is useful in future. A complete closure might well have required a posted request, though.

35har1old

Section62 said:

surreysaver said:

HHUK said:

allegro120 said:

I don't think you need to leave £1 in Smart Saver .... Also this is not really the account worth keeping.

It's probably a case of overkill and there may well be no need to, but for the sake of £1 I'm happy to keep the Co-operative Bank Smart Saver open and funded in case it makes life easier when it comes to opening new accounts at some point in the future.

Shouldn't make a difference if you've got their current account, which is needed for the regular saver in the first place 

Co-op

My only other account with them is the current account, so I've decided to retain the Smart Saver because although it is only a year-old account it would become my oldest account should anything happen to the current account. (like many of us for 'loyalty' reasons I work on the basis of keeping the oldest account with a financial institution open whenever possible).

I'm not expecting anything to happen to the Co-op current account anytime soon, but the Coventry takeover could go either way - maybe Coventry will want to continue to be a player in the current account market, or maybe they will ultimately decide that isn't part of the business they want to retain.

I figured that less interest than elsewhere on £1, plus maintaining a line on my spreadsheet, was probably worth it for not having to think too hard about the Co-op's future direction.

Coventry did withdraw from the current account market a number or years ago (2019)

Kim_13

35har1old said:

Section62 said:

surreysaver said:

HHUK said:

allegro120 said:

I don't think you need to leave £1 in Smart Saver .... Also this is not really the account worth keeping.

It's probably a case of overkill and there may well be no need to, but for the sake of £1 I'm happy to keep the Co-operative Bank Smart Saver open and funded in case it makes life easier when it comes to opening new accounts at some point in the future.

Shouldn't make a difference if you've got their current account, which is needed for the regular saver in the first place 

Co-op

My only other account with them is the current account, so I've decided to retain the Smart Saver because although it is only a year-old account it would become my oldest account should anything happen to the current account. (like many of us for 'loyalty' reasons I work on the basis of keeping the oldest account with a financial institution open whenever possible).

I'm not expecting anything to happen to the Co-op current account anytime soon, but the Coventry takeover could go either way - maybe Coventry will want to continue to be a player in the current account market, or maybe they will ultimately decide that isn't part of the business they want to retain.

I figured that less interest than elsewhere on £1, plus maintaining a line on my spreadsheet, was probably worth it for not having to think too hard about the Co-op's future direction.

Coventry did withdraw from the current account market a number or years ago (2019)

It would be a strange thing to do to buy a bank with no interest in getting back into the market of providing bank accounts - at a time when closing someone’s bank account and leaving them with no alternative is frowned upon, particularly for a business decision. CoOp Cashminder is also likely to be held by those who might struggle to obtain replacement banking facilities elsewhere.

Having said that if I were a CoOp customer I would leave £1 in a savings account (assuming that the current account might become a useful switcher.)

subjecttocontract

Kim_13 said:

35har1old said:

Section62 said:

surreysaver said:

HHUK said:

allegro120 said:

I don't think you need to leave £1 in Smart Saver .... Also this is not really the account worth keeping.

It's probably a case of overkill and there may well be no need to, but for the sake of £1 I'm happy to keep the Co-operative Bank Smart Saver open and funded in case it makes life easier when it comes to opening new accounts at some point in the future.

Shouldn't make a difference if you've got their current account, which is needed for the regular saver in the first place 

Co-op

My only other account with them is the current account, so I've decided to retain the Smart Saver because although it is only a year-old account it would become my oldest account should anything happen to the current account. (like many of us for 'loyalty' reasons I work on the basis of keeping the oldest account with a financial institution open whenever possible).

I'm not expecting anything to happen to the Co-op current account anytime soon, but the Coventry takeover could go either way - maybe Coventry will want to continue to be a player in the current account market, or maybe they will ultimately decide that isn't part of the business they want to retain.

I figured that less interest than elsewhere on £1, plus maintaining a line on my spreadsheet, was probably worth it for not having to think too hard about the Co-op's future direction.

Coventry did withdraw from the current account market a number or years ago (2019)

It would be a strange thing to do to buy a bank with no interest in getting back into the market of providing bank accounts - at a time when closing someone’s bank account and leaving them with no alternative is frowned upon, particularly for a business decision. CoOp Cashminder is also likely to be held by those who might struggle to obtain replacement banking facilities elsewhere.

Having said that if I were a CoOp customer I would leave £1 in a savings account (assuming that the current account might become a useful switcher.)

I wouldn't be leaving £1 in a savings account with a bank that offers 7% return. I'd want to maximise my deposits with them for as much and as long as I could.