The Top Regular Savers Discussion Thread

Section62

SJMALBA said:

Halifax RS - matured 29th, interest applied just after midnight into the 30th.
I had already closed the Everyday Saver that is automatically opened (as recommended earlier in this thread), but can't seem to access the money - there's no option to transfer funds, or close account; I tried renewing (from both Halifax login, and Bank of Scotland), but get the following message:

'It looks like something's gone wrong

Unfortunately there's a problem with our system. We're sorry for any inconvenience. Please try again later.'

Genuine technical problem at their end, or is there something else I can/have to do to get the money out of this account?

This seems to be an ongoing issue, my last BoS RS wouldn't let me renew some time ago with the exact same message. (I'd renewed my Halifax RS shortly before with no issues).  I tried again over the following weeks, exactly the same result.

In the end I let the RS account run to maturity.  Recently I tried renewing the same matured RS as an EA account into a different EA product, and got the same error message.

I concluded it is something specific to that account which is the issue, whilst other accounts of mine aren't affected the same way.

I made a mental note that if the same thing happens in future I'll need to accept I can't use the renewal process and just have to wait until maturity... because getting help from customer services would probably have an outcome not necessarily to my advantage.

allegro120

Section62 said:

SJMALBA said:

Halifax RS - matured 29th, interest applied just after midnight into the 30th.
I had already closed the Everyday Saver that is automatically opened (as recommended earlier in this thread), but can't seem to access the money - there's no option to transfer funds, or close account; I tried renewing (from both Halifax login, and Bank of Scotland), but get the following message:

'It looks like something's gone wrong

Unfortunately there's a problem with our system. We're sorry for any inconvenience. Please try again later.'

Genuine technical problem at their end, or is there something else I can/have to do to get the money out of this account?

This seems to be an ongoing issue, my last BoS RS wouldn't let me renew some time ago with the exact same message. (I'd renewed my Halifax RS shortly before with no issues).  I tried again over the following weeks, exactly the same result.

In the end I let the RS account run to maturity.  Recently I tried renewing the same matured RS as an EA account into a different EA product, and got the same error message.

I concluded it is something specific to that account which is the issue, whilst other accounts of mine aren't affected the same way.

I made a mental note that if the same thing happens in future I'll need to accept I can't use the renewal process and just have to wait until maturity... because getting help from customer services would probably have an outcome not necessarily to my advantage.

Halifax RS doesn't have the same condition as Lloyds and BoS, you can open and close Halifax RS whenever you like without any tricks.

Kim_13

Section62 said:

SJMALBA said:

Halifax RS - matured 29th, interest applied just after midnight into the 30th.
I had already closed the Everyday Saver that is automatically opened (as recommended earlier in this thread), but can't seem to access the money - there's no option to transfer funds, or close account; I tried renewing (from both Halifax login, and Bank of Scotland), but get the following message:

'It looks like something's gone wrong

Unfortunately there's a problem with our system. We're sorry for any inconvenience. Please try again later.'

Genuine technical problem at their end, or is there something else I can/have to do to get the money out of this account?

This seems to be an ongoing issue, my last BoS RS wouldn't let me renew some time ago with the exact same message. (I'd renewed my Halifax RS shortly before with no issues).  I tried again over the following weeks, exactly the same result.

In the end I let the RS account run to maturity.  Recently I tried renewing the same matured RS as an EA account into a different EA product, and got the same error message.

I concluded it is something specific to that account which is the issue, whilst other accounts of mine aren't affected the same way.

I made a mental note that if the same thing happens in future I'll need to accept I can't use the renewal process and just have to wait until maturity... because getting help from customer services would probably have an outcome not necessarily to my advantage.

Is it not the case that BoS (and Lloyds) accounts have terms that prohibit this, which while it was not prevented in the past, they may now have made changes to enforce. Halifax have never had it to my knowledge, so something not working there is more likely to be a technical problem that will be resolved in time.

SJMALBA

Re, Halifax RS:

Seems that I was too quick off the mark, as by this morning, it had turned into an Everyday Saver, which has 'payments and transfers' option, so I was able to withdraw the full amount.

FYI - opened & funded 30.4.24, matured 29.4.25, interest added just after midnight into the 30th - according to MSE calculator, 12 payments would give £89 - with the 13th payment, I received £102.24.

New Halifax RS opened and funded today. 

SJMALBA

Bank of Scotland RS:

Can anyone confirm whether this method still works/no longer works, to allow a new RS to be opened and funded today?
(for some reason, despite both being opened 30.4.24, Halifax matured on the 29th, with BoS today)

1 Empty the regular saver.

2 Renew account to another type of saver.

3 Bank adds accrued interest.

4 Remove interest and close account.

5 Bank provides closing statement.

6 Open new regular saver if and when required.

I tried a 'straight' renewal (i.e. without emptying the account), but got the same error message as I had been getting with Halifax.

Descrabled

BOS

I can confirm that the renewal method no longer works and the account needs to run to its maturity to receive the interest and allows a new RS to be started.

Halifax and Lloyds

I can confirm that the renewal method still works, as I renewed and restarted a new RS for each of the 3 accounts today without any problems. I closed each "Everyday Saver" created for each renewal and the additional "Everyday Saver" created in Halifax.

Edited to add the renewal of Halifax and two Lloyds RS

Speculator

SJMALBA said:

Bank of Scotland RS:

Can anyone confirm whether this method still works/no longer works, to allow a new RS to be opened and funded today?
(for some reason, despite both being opened 30.4.24, Halifax matured on the 29th, with BoS today)

1 Empty the regular saver.

2 Renew account to another type of saver.

3 Bank adds accrued interest.

4 Remove interest and close account.

5 Bank provides closing statement.

6 Open new regular saver if and when required.

I tried a 'straight' renewal (i.e. without emptying the account), but got the same error message as I had been getting with Halifax.

I have never managed to renew the BOS monthly saver. Tried on both Halifax and BOS website numerous times in the past. Never worked.

SJMALBA

Speculator said:

SJMALBA said:

Bank of Scotland RS:

Can anyone confirm whether this method still works/no longer works, to allow a new RS to be opened and funded today?
(for some reason, despite both being opened 30.4.24, Halifax matured on the 29th, with BoS today)

1 Empty the regular saver.

2 Renew account to another type of saver.

3 Bank adds accrued interest.

4 Remove interest and close account.

5 Bank provides closing statement.

6 Open new regular saver if and when required.

I tried a 'straight' renewal (i.e. without emptying the account), but got the same error message as I had been getting with Halifax.

I have never managed to renew the BOS monthly saver. Tried on both Halifax and BOS website numerous times in the past. Never worked.

FWIW, the method described worked for me in 2023 & (IIRC?) 2024.

pecunianonolet

When you close a Lloyds regular saver vs. using the renew method. Will you still be able to open a new regular saver or will they not let you open one until the original term is over?

Speculator

pecunianonolet said:

When you close a Lloyds regular saver vs. using the renew method. Will you still be able to open a new regular saver or will they not let you open one until the original term is over?

not tried but probably the later. Best time to try is a few days before maturity so you don't have long to wait if it doesn't work.