The Top Regular Savers Discussion Thread

Dizzycap

Money_Grabber13579 said:

My second principality account has matured and it was also blocked from maturing into a 2nd regular saver account (but not by the same person who was mentioned here previously). So looks like that opportunity might be coming to an end.

How very strange! I've got 3 x Issue 3 6 month RS and @surreysaver has 4, so something seems to be a miss as Issue 3 is still available. I presume that you tried to set-up the maturity instructions pre-maturity? If so, then then should have been no issue regardless of being completed online or over the telephone??

WillPS

My single maturing Issue 1 did not convert to Issue 3 as requested, no messages explaining, it just converted to a maturity saver as if no instructions were sent (it definitely indicated maturity instructions had been received tho).

My wife had an Issue 1 and an Issue 2 which matured this week, and both converted to Issue 3 as requested (giving her a total of 3). 

Bridlington1

A word of warning with Progressive BS.

If you're wanting to close an account that has matured and then open a new regular saver make sure to empty the account first before applying for the new account.

I made the mistake of trying to open a new regular saver in the hope that I could do a transfer from my matured account to the new account and it asked me to verify my ID, this failed and it has locked my accounts from being visible in online banking.

I'm now unable to close the old account (which has a balance of around £4k sat at a mere 1.8%) until they've verified my ID which I now have to send via email.

Bridlington1

Just a reminder the following interest rates come into effect tomorrow:

Account	Old rate	New rate	Date
Saffron BS 12 Month Members Regular Saver	4.50%	4.20%	10/06/2025
Saffron BS Small Saver	4.70%	4.40%	10/06/2025
Saffron BS Ware Regular Saver	4.75%	4.45%	10/06/2025
Saffron BS Children's Regular Saver	4.75%	4.45%	10/06/2025

judexx

WillPS said:

My single maturing Issue 1 did not convert to Issue 3 as requested, no messages explaining, it just converted to a maturity saver as if no instructions were sent (it definitely indicated maturity instructions had been received tho).

My wife had an Issue 1 and an Issue 2 which matured this week, and both converted to Issue 3 as requested (giving her a total of 3). 

Principality

Just checked and mine converted to an Issue 3 (my second) today. Seems to be total luck as to who processes it.

Bridlington1

Bridlington1 said:

A word of warning with Progressive BS.

If you're wanting to close an account that has matured and then open a new regular saver make sure to empty the account first before applying for the new account.

I made the mistake of trying to open a new regular saver in the hope that I could do a transfer from my matured account to the new account and it asked me to verify my ID, this failed and it has locked my accounts from being visible in online banking.

I'm now unable to close the old account (which has a balance of around £4k sat at a mere 1.8%) until they've verified my ID which I now have to send via email.

Further to the above they've now verified my ID and I've been able to close my account online.

liamcov

Is anyone making a big deal about the Saffron Refer A Friend account being closed? Here is a secure message I have received from them:

This account is for new customers only that are referred from holders of the Members' Month Loyalty Saver. There was an error on these terms and conditions for which I apologise. 

You are not eligible for the account and therefore it was closed.

I can raise this as a complaint for you if you would like me to?

jim1999

liamcov said:

Is anyone making a big deal about the Saffron Refer A Friend account being closed? Here is a secure message I have received from them:

This account is for new customers only that are referred from holders of the Members' Month Loyalty Saver. There was an error on these terms and conditions for which I apologise. 

You are not eligible for the account and therefore it was closed.

I can raise this as a complaint for you if you would like me to?

Mine has not yet been closed.  But on principle I probably would.  I know people have varying opinions on these things, but to me the T&Cs were very clear about how to qualify and there was nothing about being a new customer.  Furthermore, it's not as if they're paying out £200 as a referral bonus, it's an account with max earnings of about £26.

It's one thing to have a situation like Principality, where there's a condition that they don't enforce but suddenly are (I don't think you can argue against this); it's another to have the situation with Saffron where they're basically saying "We made a mistake, you spent time and effort opening an account based on those T&Cs, and now we've decided we screwed up so you're going to have to suck it up."

ForumUser7

liamcov said:

Is anyone making a big deal about the Saffron Refer A Friend account being closed? Here is a secure message I have received from them:

This account is for new customers only that are referred from holders of the Members' Month Loyalty Saver. There was an error on these terms and conditions for which I apologise. 

You are not eligible for the account and therefore it was closed.

I can raise this as a complaint for you if you would like me to?

jim1999 said:

liamcov said:

Is anyone making a big deal about the Saffron Refer A Friend account being closed? Here is a secure message I have received from them:

This account is for new customers only that are referred from holders of the Members' Month Loyalty Saver. There was an error on these terms and conditions for which I apologise. 

You are not eligible for the account and therefore it was closed.

I can raise this as a complaint for you if you would like me to?

Mine has not yet been closed.  But on principle I probably would.  I know people have varying opinions on these things, but to me the T&Cs were very clear about how to qualify and there was nothing about being a new customer.  Furthermore, it's not as if they're paying out £200 as a referral bonus, it's an account with max earnings of about £26.

It's one thing to have a situation like Principality, where there's a condition that they don't enforce but suddenly are (I don't think you can argue against this); it's another to have the situation with Saffron where they're basically saying "We made a mistake, you spent time and effort opening an account based on those T&Cs, and now we've decided we screwed up so you're going to have to suck it up."

I think, personally, that if you opened the account in line with the Ts and Cs that were in force at the time, then you should complain if they closed your account with no notice as the terms don't allow them to do this. Ultimately it doesn't matter what terms they intended to be applicable, what matters is the terms customers agreed to.

Middle_of_the_Road

jim1999 said:

liamcov said:

Is anyone making a big deal about the Saffron Refer A Friend account being closed? Here is a secure message I have received from them:

This account is for new customers only that are referred from holders of the Members' Month Loyalty Saver. There was an error on these terms and conditions for which I apologise. 

You are not eligible for the account and therefore it was closed.

I can raise this as a complaint for you if you would like me to?

Mine has not yet been closed.  But on principle I probably would.  I know people have varying opinions on these things, but to me the T&Cs were very clear about how to qualify and there was nothing about being a new customer.  Furthermore, it's not as if they're paying out £200 as a referral bonus, it's an account with max earnings of about £26.

It's one thing to have a situation like Principality, where there's a condition that they don't enforce but suddenly are (I don't think you can argue against this); it's another to have the situation with Saffron where they're basically saying "We made a mistake, you spent time and effort opening an account based on those T&Cs, and now we've decided we screwed up so you're going to have to suck it up."

These things don't happen in a

 vacuum 🙄