The Top Regular Savers Discussion Thread

Kim_13

Bigwheels1111 said:

My Principality BS 1 Year Triple Access RS matures on the 18th, I just tried to open a new one but I'm not allowed as reached the maximum amount. No option in my account to do anything with old account either.

Mine matures on the same day and I had an email from them yesterday reminding me that they had sent a letter and that I could let them know what I wanted to do on or after the 18th. This seemed particularly odd wording so I did log in to check there wasn't a maturity manager (though I had thought from the letter that there was no longer an option to schedule anything in advance) and nothing.

I've never received a reminder email before even when I had £1K+ about to roll onto a lower rate, so a few pounds really doesn't bother me (drew down to £1 to fund 6% RS elsewhere after the rate started dropping and then interest was added on top.) An email reminder following the notification that the account is ending in my mind only makes sense if they have asked you to select options in advance and received no response, but alongside that they are running an after the fact maturity process.

I will close the RS on Friday (otherwise funds are likely to be stuck at 2.9% until Monday for those that opened the account in the first few days.)

PowerSavingMode

Bigwheels1111 said:

My Principality BS 1 Year Triple Access RS matures on the 18th, I just tried to open a new one but I'm not allowed as reached the maximum amount. No option in my account to do anything with old account either.

RE:  Principality BS 1 Year Triple Access RS

You can close it via secure message, but it will take one business day.

I asked them about maturity options and they replied:

"Having checked your record I can confrim no maturity options are available for your 1 Year Triple Access Regular Saver (Online).

"The account will come to an end of the fixed term (1 year after the date it opened). When the account ends, we will move all of the money into an Easy Access Account available at the time. This is Outlined in the Account Terms and Conditions. "

So, I will likely close it on Thursday (mine matures on 18th) and open another the next day (18th), if still available.

Bigwheels1111

I called Principality on the 8th as had no letter or email.

I was told they could leave £50 in the account to start a new one on the 9th or cash me out as I have all the other reg savers they do.

I said please cash me out, Ok was the reply.

On the 9th I got a call back, we can do nothing to the account you will need to call on the 18th and we can deal with the cash out then.

No very good in my opinion as all other accounts gave me the options near maturity.

I will just stick the £600 in one of my many reg savers that pay more.

Where was my 14 days notice, no letter and email arrived on the 11th April.

7 Days notice.

Kim_13

Bigwheels1111 said:

I called Principality on the 8th as had no letter or email.

I was told they could leave £50 in the account to start a new one on the 9th or cash me out as I have all the other reg savers they do.

I said please cash me out, Ok was the reply.

On the 9th I got a call back, we can do nothing to the account you will need to call on the 18th and we can deal with the cash out then.

No very good in my opinion as all other accounts gave me the options near maturity.

I will just stick the £600 in one of my many reg savers that pay more.

Where was my 14 days notice, no letter and email arrived on the 11th April.

7 Days notice.

It was always in the terms that the rate would drop after a year so as such they wouldn’t be obliged to provide any notice, as they aren’t introducing a reduction that hasn’t already been agreed to. Looks like it would be easier to do a cash out online and take it on the day of your choosing, avoiding an inevitable queue on the 18th as that was launch day. When I’ve closed a Principality RS in the morning on a working day it has been in my account the same day, despite not being automated as with other providers.

Aidanmc

Kim_13 said:

Bigwheels1111 said:

My Principality BS 1 Year Triple Access RS matures on the 18th, I just tried to open a new one but I'm not allowed as reached the maximum amount. No option in my account to do anything with old account either.

Mine matures on the same day and I had an email from them yesterday reminding me that they had sent a letter and that I could let them know what I wanted to do on or after the 18th. This seemed particularly odd wording so I did log in to check there wasn't a maturity manager (though I had thought from the letter that there was no longer an option to schedule anything in advance) and nothing.

I've never received a reminder email before even when I had £1K+ about to roll onto a lower rate, so a few pounds really doesn't bother me (drew down to £1 to fund 6% RS elsewhere after the rate started dropping and then interest was added on top.) An email reminder following the notification that the account is ending in my mind only makes sense if they have asked you to select options in advance and received no response, but alongside that they are running an after the fact maturity process.

I will close the RS on Friday (otherwise funds are likely to be stuck at 2.9% until Monday for those that opened the account in the first few days.)

If you close the maturing Triple access RS on Friday, would you expect to receive the funds same day?

It says completed within 1 business day,

Is Friday 18th a bank holiday?

Nuggy96

my daughters kids monthly saver with Halifax matured on 9th April. I put in £100 on 1st April as a 13th payment, the RS matured and the money around £1300 was put into an easy access and the regular saver appears to have auto-renewed (stayed there) but is now empty. However, I can't put £100 in this month, I assume cause I put £100 in on 1st April. Anyone ran into this issue and/or know of a solution?

Thanks in advance

Kim_13

Aidanmc said:

Kim_13 said:

Bigwheels1111 said:

My Principality BS 1 Year Triple Access RS matures on the 18th, I just tried to open a new one but I'm not allowed as reached the maximum amount. No option in my account to do anything with old account either.

Mine matures on the same day and I had an email from them yesterday reminding me that they had sent a letter and that I could let them know what I wanted to do on or after the 18th. This seemed particularly odd wording so I did log in to check there wasn't a maturity manager (though I had thought from the letter that there was no longer an option to schedule anything in advance) and nothing.

I've never received a reminder email before even when I had £1K+ about to roll onto a lower rate, so a few pounds really doesn't bother me (drew down to £1 to fund 6% RS elsewhere after the rate started dropping and then interest was added on top.) An email reminder following the notification that the account is ending in my mind only makes sense if they have asked you to select options in advance and received no response, but alongside that they are running an after the fact maturity process.

I will close the RS on Friday (otherwise funds are likely to be stuck at 2.9% until Monday for those that opened the account in the first few days.)

If you close the maturing Triple access RS on Friday, would you expect to receive the funds same day?

It says completed within 1 business day,

Is Friday 18th a bank holiday?

Indeed it is, I set a reminder to close on the 17th when the letter arrived and then forgot that it was Easter this week when I posted.

surreysaver

Nuggy96 said:

my daughters kids monthly saver with Halifax matured on 9th April. I put in £100 on 1st April as a 13th payment, the RS matured and the money around £1300 was put into an easy access and the regular saver appears to have auto-renewed (stayed there) but is now empty. However, I can't put £100 in this month, I assume cause I put £100 in on 1st April. Anyone ran into this issue and/or know of a solution?

Thanks in advance

Yes, it's all in the T&Cs. The account auto renews, and as you've already put £100 in in April, you have to wait until May. The way around it is to close the associated easy access account, then the Regular Saver will turn into a easy access saver upon maturity.

allegro120

Aidanmc said:

Kim_13 said:

Bigwheels1111 said:

My Principality BS 1 Year Triple Access RS matures on the 18th, I just tried to open a new one but I'm not allowed as reached the maximum amount. No option in my account to do anything with old account either.

Mine matures on the same day and I had an email from them yesterday reminding me that they had sent a letter and that I could let them know what I wanted to do on or after the 18th. This seemed particularly odd wording so I did log in to check there wasn't a maturity manager (though I had thought from the letter that there was no longer an option to schedule anything in advance) and nothing.

I've never received a reminder email before even when I had £1K+ about to roll onto a lower rate, so a few pounds really doesn't bother me (drew down to £1 to fund 6% RS elsewhere after the rate started dropping and then interest was added on top.) An email reminder following the notification that the account is ending in my mind only makes sense if they have asked you to select options in advance and received no response, but alongside that they are running an after the fact maturity process.

I will close the RS on Friday (otherwise funds are likely to be stuck at 2.9% until Monday for those that opened the account in the first few days.)

If you close the maturing Triple access RS on Friday, would you expect to receive the funds same day?

It says completed within 1 business day,

Is Friday 18th a bank holiday?

I recall "refreshing" 6-months issue1.  I did it early in the morning and received funds the same day, but I don't know if that's the norm.

My plan for Triple Access is to let it morph on the 18th, open the new one, transfer £50 to the new one, withdraw the rest leaving £1 for EA to run (I wanted to open EA with Principality at some point anyway). Based on my previous experience withdrawn funds should arrive on the same day (including weekends).  

allegro120

Nuggy96 said:

my daughters kids monthly saver with Halifax matured on 9th April. I put in £100 on 1st April as a 13th payment, the RS matured and the money around £1300 was put into an easy access and the regular saver appears to have auto-renewed (stayed there) but is now empty. However, I can't put £100 in this month, I assume cause I put £100 in on 1st April. Anyone ran into this issue and/or know of a solution?

Thanks in advance

That's right. The account automatically renews, so you can't make your next payment until 1st May. The other option is to close the existing and open a new one so you can pay in earlier, but AFAIK you have to visit branch to close this account.  I've opened this account in November 2022 and never needed to close it, the rate is always competitive.