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The Top Regular Savers Discussion Thread
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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.0
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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.
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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.0
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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.0
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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?What banks are you struggling to close accounts with.0
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flaneurs_lobster said:Go into the regular saver and then click the three dots: it'll then say, "Close an Account."
Despite the title of that page, I have used it to close saving accounts before. Closure wasn't instant, but was a day or two to action from memory.3 -
kaMelo said:flaneurs_lobster said:kaMelo said:etienneg said:flaneurs_lobster said:Go into the regular saver and then click the three dots: it'll then say, "Close an Account."
Even though it specifies "current account" it also works for savings accounts too.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.
Could be worth sending a letter and specifying all the accounts you want to close? I'd be surprised if there wasn't a free post address out there somewhere1 -
Bridlington1 said:ForumUser7 said:Kazza242 said:Skipton Building Society have launched a new Regular Saver, paying 5.75% AER (variable)
- Save from £1 - £200 per month
- The account runs for 12 months
- No withdrawals, though early closure permitted
- It tracks 1.50% above Bank of England base rate for 12 months.
- The account is only available to open if you don't already hold a product from the Skipton BS Regular Saver range (either a Member Regular Saver, Branch Member Regular Saver, Regular Saver or a Branch Regular Saver)
- They have launched an online and branch-based edition of this account
- The account can be opened via Skipton Online, in the Skipton App, in branch, by post or by phone
- The interest is paid the day before the anniversary of account opening
Further details here.
The term I believe you're referring to is:This account is only available to UK residents aged 16 or over, who don't already hold a product from our Regular Saver range (either a Member Regular Saver, Branch Member Regular Saver, Regular Saver or a Branch Regular Saver) at the time of application.However no equivalent term appears in the Ts&Cs for the Member RS, so whilst you can't open the 5.75% RS if you currently hold the Members RS, you can open the Members RS if you hold the 5.75% RS Issue 1.
In other words if you open the RS Issue 1 at 5.75% first you should be able to open the Members RS at 6.25% and thus have both simultaneously.
There's also nothing in the terms to stop those who hold the Members RS from closing their accounts now, then opening the 5.75% RS before opening a new 6.25% Members RS.
Skipton:I can confirm this works and is in accordance with the t's & c's.Members RS Issue 4 @ 6.25% closed.RS Issue 1 @ 5.75% opened.Members RS Issue 4 @ 6.25% opened.The only restriction in the terms is that the RS can't be opened if you have a Member RS. However, once the RS has been opened then there is no restriction on holding both a/cs.I'll leave initial funding until the end of month to maximise interest.
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I’ve spoken with Virgin Money and they’ve advised that it takes 7-10 days to close an account. On 1 July I can withdraw the funds from the Everyday Saver account and request closure but I will need to wait another 7-10 days to receive the interest.8
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clivep said:Bridlington1 said:ForumUser7 said:Kazza242 said:Skipton Building Society have launched a new Regular Saver, paying 5.75% AER (variable)
- Save from £1 - £200 per month
- The account runs for 12 months
- No withdrawals, though early closure permitted
- It tracks 1.50% above Bank of England base rate for 12 months.
- The account is only available to open if you don't already hold a product from the Skipton BS Regular Saver range (either a Member Regular Saver, Branch Member Regular Saver, Regular Saver or a Branch Regular Saver)
- They have launched an online and branch-based edition of this account
- The account can be opened via Skipton Online, in the Skipton App, in branch, by post or by phone
- The interest is paid the day before the anniversary of account opening
Further details here.
The term I believe you're referring to is:This account is only available to UK residents aged 16 or over, who don't already hold a product from our Regular Saver range (either a Member Regular Saver, Branch Member Regular Saver, Regular Saver or a Branch Regular Saver) at the time of application.However no equivalent term appears in the Ts&Cs for the Member RS, so whilst you can't open the 5.75% RS if you currently hold the Members RS, you can open the Members RS if you hold the 5.75% RS Issue 1.
In other words if you open the RS Issue 1 at 5.75% first you should be able to open the Members RS at 6.25% and thus have both simultaneously.
There's also nothing in the terms to stop those who hold the Members RS from closing their accounts now, then opening the 5.75% RS before opening a new 6.25% Members RS.
Skipton:I can confirm this works and is in accordance with the t's & c's.Members RS Issue 4 @ 6.25% closed.RS Issue 1 @ 5.75% opened.Members RS Issue 4 @ 6.25% opened.The only restriction in the terms is that the RS can't be opened if you have a Member RS. However, once the RS has been opened then there is no restriction on holding both a/cs.I'll leave initial funding until the end of month to maximise interest.6
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