The Top Regular Savers Discussion Thread

subjecttocontract

If the balance iskaMelo said:

flaneurs_lobster said:

kaMelo said:

etienneg said:

flaneurs_lobster said:

wmb194 said:

Go into the regular saver and then click the three dots: it'll then say, "Close an Account."

......which gives a screen titled "Close your current account".......

Yes, that's what happens for me! What do I do now?

Even though it specifies  "current account" it also works for savings accounts too.

Sounds like you speak from experience so fair enough. How long does the closure take?

I can't remember exactly but it's not instant, maybe a day or two. I used it to close the numerous savings accounts opened alongside the multiple M plus current accounts I opened when it's interest rate was competitive.

I only wish it were possible to close the many VM  homebuyer regular savers I had that reside on a different platform in the same way as they're cluttering up my spreadsheet. If anyone has a suggestion I'm all ears.

If the balance is zero why not just ignore them / delete them from your spreadsheet ?
In fact what I do is have another spreadsheet entitled inactive accounts where I list zero balance/unused accounts. I refuse to jump through hoops to close accounts, if it's not a simple matter I just don't bother. I reckon that gives them a bigger headache than me.

allegro120

kaMelo said:

flaneurs_lobster said:

kaMelo said:

etienneg said:

flaneurs_lobster said:

wmb194 said:

Go into the regular saver and then click the three dots: it'll then say, "Close an Account."

......which gives a screen titled "Close your current account".......

Yes, that's what happens for me! What do I do now?

Even though it specifies  "current account" it also works for savings accounts too.

Sounds like you speak from experience so fair enough. How long does the closure take?

I can't remember exactly but it's not instant, maybe a day or two. I used it to close the numerous savings accounts opened alongside the multiple M plus current accounts I opened when it's interest rate was competitive.

I only wish it were possible to close the many VM  homebuyer regular savers I had that reside on a different platform in the same way as they're cluttering up my spreadsheet. If anyone has a suggestion I'm all ears.

Good to know, it could be more efficient to close it on Monday instead of Friday if they don't process at weekends.


I have quite a few dormant accounts created by banks to dump my matured funds.  I do a spring clean from time to time, some of them are not easy to close so I just leave them running.  In order to avoid cluttering I just don't include them in my spreadsheet.

etienneg

Just as a matter of interest, does anyone know why so many banks seem to make it difficult to close accounts online, whilst there are just a few where this is streamlined and easy?

Stargunner

etienneg said:

Just as a matter of interest, does anyone know why so many banks seem to make it difficult to close accounts online, whilst there are just a few where this is streamlined and easy?

I don’t find it difficult to close accounts online. I have closed numerous accounts. If you can’t do it directly yourself, i find thst you can do it either by online chat or by a secure message. 

What banks are you struggling to close accounts with.

subjecttocontract

Stargunner said:

etienneg said:

Just as a matter of interest, does anyone know why so many banks seem to make it difficult to close accounts online, whilst there are just a few where this is streamlined and easy?

I don’t find it difficult to close accounts online. I have closed numerous accounts. If you can’t do it directly yourself, i find thst you can do it either by online chat or by a secure message. 

What banks are you struggling to close accounts with.

I think that is the issue. If it's not automatic closure or just a few clicks to complete some of us don't want to spend time chatting with Cora or typing messages or in fact spending any time at all dealing with it. We don't get paid to close an account whereas we often get a financial incentive to open it. I'm sure the banks will contact us quick enough of they want to close them.

masonic

Cora is probably about my limit. Beyond that, they are welcome to keep the account open with a zero balance for as long as they like. But it really isn't in their interest to do so.

Kim_13

I’ll login to a website to close (Coventry, YBS, Nationwide) but I’ve never bothered with Sandi. I could probably dump a Maturity Account with Saffron as my EA is coming up to 2 years old, but I figured I’d just keep it as it’s less hassle to message asking them to convert to a new account when something worth having comes along, rather than needing to log in to the website and start a new application. Other providers make it possible to apply for new accounts via the app.

Hopefully I won’t have a surplus NatWest account - when my fixed rate ISA matures it’ll be transferred out so should just disappear from the app.

allegro120

masonic said:

Cora is probably about my limit. Beyond that, they are welcome to keep the account open with a zero balance for as long as they like. But it really isn't in their interest to do so.

I've recently made an effort to close one of them.  At the end of the process Cora asked me if I want to close another one - I said no.  I'd rather have a clutter on my app, I don't visit Santander very often - only for collecting Edge interest and depositing to RS account.   

subjecttocontract

Well of course holding 'dormant' accounts with £1 or £0 in can be an advantage should that bank/b.soc' offer a new top paying account in the future.

Stargunner

subjecttocontract said:

Stargunner said:

etienneg said:

Just as a matter of interest, does anyone know why so many banks seem to make it difficult to close accounts online, whilst there are just a few where this is streamlined and easy?

I don’t find it difficult to close accounts online. I have closed numerous accounts. If you can’t do it directly yourself, i find thst you can do it either by online chat or by a secure message. 

What banks are you struggling to close accounts with.

I think that is the issue. If it's not automatic closure or just a few clicks to complete some of us don't want to spend time chatting with Cora or typing messages or in fact spending any time at all dealing with it. We don't get paid to close an account whereas we often get a financial incentive to open it. I'm sure the banks will contact us quick enough of they want to close them.

We don’t get paid for lots of things that we do. I personally prefer clutter free websites/apps when I log in, rather than having a lot of dormant accounts visible.