The Top Regular Savers Discussion Thread

Speculator

friolento said:

Speculator said:

NotWhereIWantToBe said:

Sorry another question.
Does anyone know when the money will be available to withdraw from the Virgin regular saver that ends on 31st July please ?
I would ideally use it to fund my other regular savers but unless it is available that day I won't be able to. 

I  think it's unlimited withdrawals and you can take money out anytime.

If you let it mature, you won't get your money until 1/8. 

Maybe withdraw your money on 30/7 and lose 2 days interest at 10%.

It’s probably only pennies difference, but why withdraw from a 10% account to put the money into a much lower paying account? The lower paying account(s) will still be available after July 31.

I probably won't because I have enough funds available in 5% instant access a/cs.

However, if I need the funds from my Virgin regular to help cover my standing orders, I would rather withdraw from the Virgin and lose 1 or 2 days interest than having to amend the dates of my standing orders to the 4th and then back to the 1st again.

Speculator

NotWhereIWantToBe said:

friolento said:

Speculator said:

NotWhereIWantToBe said:

Sorry another question.
Does anyone know when the money will be available to withdraw from the Virgin regular saver that ends on 31st July please ?
I would ideally use it to fund my other regular savers but unless it is available that day I won't be able to. 

I  think it's unlimited withdrawals and you can take money out anytime.

If you let it mature, you won't get your money until 1/8. 

Maybe withdraw your money on 30/7 and lose 2 days interest at 10%.

It’s probably only pennies difference, but why withdraw from a 10% account to put the money into a much lower paying account? The lower paying account(s) will still be available after July 31.

Because I have multiple standing orders set up to go out on the 31st but no free cash to fund them .

do you mean to go out on the 1st?

NotWhereIWantToBe

Speculator said:

NotWhereIWantToBe said:

friolento said:

Speculator said:

NotWhereIWantToBe said:

Sorry another question.
Does anyone know when the money will be available to withdraw from the Virgin regular saver that ends on 31st July please ?
I would ideally use it to fund my other regular savers but unless it is available that day I won't be able to. 

I  think it's unlimited withdrawals and you can take money out anytime.

If you let it mature, you won't get your money until 1/8. 

Maybe withdraw your money on 30/7 and lose 2 days interest at 10%.

It’s probably only pennies difference, but why withdraw from a 10% account to put the money into a much lower paying account? The lower paying account(s) will still be available after July 31.

Because I have multiple standing orders set up to go out on the 31st but no free cash to fund them .

do you mean to go out on the 1st?

Yes they will go out on the 1st but usually overnight on the 31st.

friolento

NotWhereIWantToBe said:

Speculator said:

NotWhereIWantToBe said:

friolento said:

Speculator said:

NotWhereIWantToBe said:

Sorry another question.
Does anyone know when the money will be available to withdraw from the Virgin regular saver that ends on 31st July please ?
I would ideally use it to fund my other regular savers but unless it is available that day I won't be able to. 

I  think it's unlimited withdrawals and you can take money out anytime.

If you let it mature, you won't get your money until 1/8. 

Maybe withdraw your money on 30/7 and lose 2 days interest at 10%.

It’s probably only pennies difference, but why withdraw from a 10% account to put the money into a much lower paying account? The lower paying account(s) will still be available after July 31.

Because I have multiple standing orders set up to go out on the 31st but no free cash to fund them .

do you mean to go out on the 1st?

Yes they will go out on the 1st but usually overnight on the 31st.

All banks will try again after about 14:00 on the 1st

allegro120

NotWhereIWantToBe said:

friolento said:

Speculator said:

NotWhereIWantToBe said:

Sorry another question.
Does anyone know when the money will be available to withdraw from the Virgin regular saver that ends on 31st July please ?
I would ideally use it to fund my other regular savers but unless it is available that day I won't be able to. 

I  think it's unlimited withdrawals and you can take money out anytime.

If you let it mature, you won't get your money until 1/8. 

Maybe withdraw your money on 30/7 and lose 2 days interest at 10%.

It’s probably only pennies difference, but why withdraw from a 10% account to put the money into a much lower paying account? The lower paying account(s) will still be available after July 31.

Because I have multiple standing orders set up to go out on the 31st but no free cash to fund them .

I'd cancel standing orders and start depositing manually.  This way you will avoid complications and you will be in control of moving your money.

ccluedo

Re Virgin, I have an HMRC POA to pay by midnight 31st July. 
I just withdrew a token £5 to check if it was instant and it was.
I'm thinking therefore to withdraw all but £5 afternoon of 31st and let the fiver roll into the new account until the interest applied. 🤔

NotWhereIWantToBe

allegro120 said:

NotWhereIWantToBe said:

friolento said:

Speculator said:

NotWhereIWantToBe said:

Sorry another question.
Does anyone know when the money will be available to withdraw from the Virgin regular saver that ends on 31st July please ?
I would ideally use it to fund my other regular savers but unless it is available that day I won't be able to. 

I  think it's unlimited withdrawals and you can take money out anytime.

If you let it mature, you won't get your money until 1/8. 

Maybe withdraw your money on 30/7 and lose 2 days interest at 10%.

It’s probably only pennies difference, but why withdraw from a 10% account to put the money into a much lower paying account? The lower paying account(s) will still be available after July 31.

Because I have multiple standing orders set up to go out on the 31st but no free cash to fund them .

I'd cancel standing orders and start depositing manually.  This way you will avoid complications and you will be in control of moving your money.

Some of the standing orders go to current accounts for them to pay them on the 1st so it’s a lot of faff for me (part of the reason I’m starting to wind them down). I’d have been ok if I didn’t get all excited and opened loads in the space of a month or so 🤦🏻‍♀️

trickydicky14

Section62 said:

SJMALBA said:

Does anyone know how long it takes to open RSs with Suffolk BS, and West Brom BS, as an existing customer? Same day, with Faster Payment possible on the day for 1st deposit, or is there paperwork sent out etc.?

The Suffolk online ones are immediately available for a debit card or FP deposit.  I think there's a prompt to make the first deposit during the application process.

Do I recall someone saying you can open both the online and the postal RS accounts. Bridlington possibly?

chris_the_bee

trickydicky14 said:

Section62 said:

SJMALBA said:

Does anyone know how long it takes to open RSs with Suffolk BS, and West Brom BS, as an existing customer? Same day, with Faster Payment possible on the day for 1st deposit, or is there paperwork sent out etc.?

The Suffolk online ones are immediately available for a debit card or FP deposit.  I think there's a prompt to make the first deposit during the application process.

Do I recall someone saying you can open both the online and the postal RS accounts. Bridlington possibly?

Yes you can. You can also hold additional accounts of a different issue number. I have 5 online and 3 postal accounts. 

pecunianonolet

Monmouthshire BS

Read that some got accidentally, or intentionally, 2 reg saver issue 8 opened. Technically against the T&C but the question is, has anyone funded both accounts already? Any issues, what is the risk of one or both being closed?

I find myself in the situation to have opened, unintentionally, 2 accounts and they show in the app. I have both, Natwest and RBS reg savers maxed out at 5k and was thinking to transition £500 over each month. Starting to use the Virgin funds first after maturity and once I run out of cash I slowly shift from the 5.5% RBS/Natwest to a 6% account. Funding both is £1000 each month on top of various other reg savers (Skipton, Nantionwide, Zoopa and various Principality accounts). I have maxed out my PSA already with received and expected interest so need to move into reg savers with maturity dates of next tax year and start to fill up my ISA (CMC now at 4.59% after promotion expiry). 

I plan to fund both Monmouthshire on Thursday and Friday, which would swallow 2k already but not sure on the 2 account thing.