The Top Regular Savers Discussion Thread

Bridlington1

Just a reminder the following interest rates came into effect today:

Account	Old rate	New rate	Date
Cumberland BS Cumberland Regular Saver	5.00%	4.75%	08/07/2025
Cumberland BS First Home Saver – Issue 1	4.10%	4.00%	08/07/2025
Cumberland BS First Home Saver – Issue 2	4.10%	4.00%	08/07/2025

schiff

Progressive
Though my RS is not due to mature and be closed until tomorrow, I have been able to open new RS, Issue 3 at 5.50% Variable. Loading money not yet allowed, that will come tomorrow I assume. As will the interest be added to the closing account with withdrawal to follow. 
You can make the first deposit by debit card btw, which is useful for Halifax Reward chasers!

mon3ysav3r

Drat, my Principality instruction for a third Reg Saver Issue 3 was denied!

"Regrettably we are unable to complete your maturity instructions as you already hold the 6 Month Regular Saver issue 3. As stated in the terms and conditions for this account you are only able to hold one account of the same issue."

At least I do already have two Reg Saver Issue 3!

shirley999

mon3ysav3r said:

Drat, my Principality instruction for a third Reg Saver Issue 3 was denied!

"Regrettably we are unable to complete your maturity instructions as you already hold the 6 Month Regular Saver issue 3. As stated in the terms and conditions for this account you are only able to hold one account of the same issue."

At least I do already have two Reg Saver Issue 3!

I also was refused maturity into a second issue 3, and also refused my second choice, they really need to check what they are offering people.  It seems they don’t want my money.

clairec666

It's fair enough for them to start enforcing the "only one of each issue" rule. Not so great for us... Ideally they'd update their system so that your renewal options reflect what you're actually allowed to have, i.e. no option to open a new issue 3 if you already have one.

allegro120

schiff said:

Progressive
Though my RS is not due to mature and be closed until tomorrow, I have been able to open new RS, Issue 3 at 5.50% Variable. Loading money not yet allowed, that will come tomorrow I assume. As will the interest be added to the closing account with withdrawal to follow. 
You can make the first deposit by debit card btw, which is useful for Halifax Reward chasers!

I didn't try to open new RS in advance. My old one matured last Saturday and I was able to open and fund by Halifax debit card straight away.  

Slinky

mon3ysav3r said:

Drat, my Principality instruction for a third Reg Saver Issue 3 was denied!

"Regrettably we are unable to complete your maturity instructions as you already hold the 6 Month Regular Saver issue 3. As stated in the terms and conditions for this account you are only able to hold one account of the same issue."

At least I do already have two Reg Saver Issue 3!

How close to maturity date did you get this message? My saver 2 matures on 15th July. I already have a saver 3, at the moment there's a message to the effect that they've received my instructions and will act on them at maturity. I'm wondering if I'll get rejected seeing what's happened to you.

mon3ysav3r

>How close to maturity date did you get this message?

14 days. I made my choice online the day I got the letter in the post, and got the reject message an hour or 2 later. I suspect you will get your reg saver issue 3, just seems to depend who deals with your request.

soulsaver

For those that previously 'passed under the radar', note:

Progressive BS told me this morning that they are blocking applications for Rainy Day Savers if you already hold any that aren't due to mature imminently. 

janusdesign

mon3ysav3r said:

Drat, my Principality instruction for a third Reg Saver Issue 3 was denied!

"Regrettably we are unable to complete your maturity instructions as you already hold the 6 Month Regular Saver issue 3. As stated in the terms and conditions for this account you are only able to hold one account of the same issue."

At least I do already have two Reg Saver Issue 3!

if you want another one, give them a telephone call - as previously discussed, I was refused a third RS 3 online, but I called them before maturity (in my case on a Saturday morning) and simply requested that my maturing RS 2 (I think) to be moved to an RS3 with £200 and the remainder back to my nominated account... it was quick, the service was good and friendly and there was none of this "you can only have one of these accounts".

Slinky said:
How close to maturity date did you get this message? My saver 2 matures on 15th July. I already have a saver 3, at the moment there's a message to the effect that they've received my instructions and will act on them at maturity. I'm wondering if I'll get rejected seeing what's happened to you.

I got the "you can only have one of these accounts" message within an hour of submitting my online instructions - if you haven't received that, then I think you can assume it's going to mature as you wish to another RS 3.

clairec666 said:

It's fair enough for them to start enforcing the "only one of each issue" rule. Not so great for us... Ideally they'd update their system so that your renewal options reflect what you're actually allowed to have, i.e. no option to open a new issue 3 if you already have one.

the problem is that they're not consistent... e.g if I submit my maturity options online, then one (or more) members on their online team might reject them due to their strict interpretation of the rules... if you telephone them, they seemingly don't care and/or know about those rules and will happily process your maturity instructions.
I have no problem if it were limited to one issue for all - but the minute different methods get different results, then that's potentially discriminatory... what if I were deaf and/or lacked the skills/confidence to make such phone calls or even had to pay for them, then I might be limited to just one; whereas if I can call, or potentially am able to visit a branch, then I can have more than one... for £28 per account, it wouldn't bother me enough to raise a complaint (though i've been here long enough to know others would do so regardless of the amount in question!).
i've got a Principality RS account maturing every month from September until the end of the year (5 in total) - so plenty of chances to test their maturity methods - assuming the Issue 3 account is still available or an issue 4 is worth bothering with.