The Top Regular Savers Discussion Thread

ForumUser7

happybagger said:

Re: Vernon
The Easy Access account doesn't seem to have a minimum operating balance, just a minimum opening balance.

The terms of the ORS a/c state they will open an EA a/c when you open the ORS, so they transfer the balance over each 12 months. So the EA account is opened with a  zero balance at that time.

Personally, if I wasn't already in here, I'd just open the EA with £100 anyway, then the ORS, then when the ORS matures into the EA withdraw down at that point. The op cost is around £2 with an op gain of around £35

But we can’t open the ORS as existing customers anyway unless you happen to live in the catchment area.

happybagger

ForumUser7 said:

happybagger said:

Re: Vernon
The Easy Access account doesn't seem to have a minimum operating balance, just a minimum opening balance.

The terms of the ORS a/c state they will open an EA a/c when you open the ORS, so they transfer the balance over each 12 months. So the EA account is opened with a  zero balance at that time.

Personally, if I wasn't already in here, I'd just open the EA with £100 anyway, then the ORS, then when the ORS matures into the EA withdraw down at that point. The op cost is around £2 with an op gain of around £35

But we can’t open the ORS as existing customers anyway unless you happen to live in the catchment area.

I don't think you understood my point:

"Personally, if I wasn't already in here, I'd just open the EA with £100 anyway, then the ORS, then when the ORS matures into the EA withdraw down at that point. The op cost is around £2 with an op gain of around £35"

Or if anyone wants the ISA route as above, just transfer it out after you've got the ORS, into your chosen ISA. That will preserve the ISA allowance

Archerychick

pecunianonolet said:

Zopa Reg Saver

Quick q, if I open the Zopa Reg saver on the 6th March, will the first interest payment be on the 6th April (new tax year and a Sunday)?

My experience seems to be different to the other reply. I get interest monthly on the 6th of the month. I opened & funded mine on the 28th of the month. 

s71hj

happybagger said:

ForumUser7 said:

happybagger said:

Re: Vernon
The Easy Access account doesn't seem to have a minimum operating balance, just a minimum opening balance.

The terms of the ORS a/c state they will open an EA a/c when you open the ORS, so they transfer the balance over each 12 months. So the EA account is opened with a  zero balance at that time.

Personally, if I wasn't already in here, I'd just open the EA with £100 anyway, then the ORS, then when the ORS matures into the EA withdraw down at that point. The op cost is around £2 with an op gain of around £35

But we can’t open the ORS as existing customers anyway unless you happen to live in the catchment area.

I don't think you understood my point:

"Personally, if I wasn't already in here, I'd just open the EA with £100 anyway, then the ORS, then when the ORS matures into the EA withdraw down at that point. The op cost is around £2 with an op gain of around £35"

Or if anyone wants the ISA route as above, just transfer it out after you've got the ORS, into your chosen ISA. That will preserve the ISA allowance

And presumably if you transfer it into a flexible isa it turns it from non flexible isa money to flexible isa money!?. God this is so confusing!

fergie_

Fingerbobs said:

happybagger said:

With PBS you won't get a CoP match until the following day. Try it tomorrow,

Just to clarify, it's the reference that's causing the problem, not the account holder name. Santander offers a "continue anyway" button, but then blocks the payment anyway. Nationwide doesn't even offer a way to bypass the check. 

So is the Reference number now part of the CoP check, with no option to bypass the check and make the payment anyway? 

I used my Chase account and got a warning as well, but it still let me say it was correct and the payment went through fine

The bigger issue for me is its getting harder to give accounts names that are different to the payee - not helpful when I operate multiple bank accounts all in my name.

MisterMotivated

Archerychick said:

pecunianonolet said:

Zopa Reg Saver

Quick q, if I open the Zopa Reg saver on the 6th March, will the first interest payment be on the 6th April (new tax year and a Sunday)?

My experience seems to be different to the other reply. I get interest monthly on the 6th of the month. I opened & funded mine on the 28th of the month. 

If you already have a Smart Saver, it will match the interest payment date for that.

happybagger

Re: Vernon BS, that's why I'd always opt for the simple route: Open the EA, then open the ORS as existing.

No different from the days of bagging when you would use a different account entry to gain access to something else (or just membership). Though the ISA route is simpler these days now that more than one can be subscribed to each year.

Archerychick

MisterMotivated said:

Archerychick said:

pecunianonolet said:

Zopa Reg Saver

Quick q, if I open the Zopa Reg saver on the 6th March, will the first interest payment be on the 6th April (new tax year and a Sunday)?

My experience seems to be different to the other reply. I get interest monthly on the 6th of the month. I opened & funded mine on the 28th of the month. 

If you already have a Smart Saver, it will match the interest payment date for that.

Yes I have & yes it does thanks 

PowerSavingMode

Kazza242 said:

ForumUser7 said:

HRBS RS

Did people find interest wasn't showing straight away after it converted to an easy access, and if so, how long did it take to show please? Thanks

My HRBS RS matured on Friday 29th November 2024 and it was converted into an easy access account.  I transferred out the balance leaving £1 in the account.  My 2024 regular saver interest was then credited the next day (Saturday 30th Nov) during the evening around 6pm.

Have I missed something (more than possible!)?! My HRBS / Hinckley and Rugby RS matures this month, and so I have just tried to access the online portal, only to find that a) it is a completely new look (they didn't notify me of this, so I had no idea), b) the new website will not allow me to log in, c) the new website doesn't seem to recognise me as an existing customer (when I input the 'forgotten username' etc, the promised email with link never arrived), and d) their 'contact form' keeps saying I am spam!

allegro120

fergie_ said:

Fingerbobs said:

happybagger said:

With PBS you won't get a CoP match until the following day. Try it tomorrow,

Just to clarify, it's the reference that's causing the problem, not the account holder name. Santander offers a "continue anyway" button, but then blocks the payment anyway. Nationwide doesn't even offer a way to bypass the check. 

So is the Reference number now part of the CoP check, with no option to bypass the check and make the payment anyway? 

I used my Chase account and got a warning as well, but it still let me say it was correct and the payment went through fine

The bigger issue for me is its getting harder to give accounts names that are different to the payee - not helpful when I operate multiple bank accounts all in my name.

You can rename them after 1st transaction.  Open payees, click on 3 dots, tap "edit payee details" and change the name.