The Top Regular Savers Discussion Thread

Archerychick

Dizzycap 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. 

What day of the month was your Primary Pot opened - 7th? That would explain why you get interest on the 6th of the month and not the 28th for your RS.

7th! That answers that question!

MarkFromCornwall

fergie_ said:

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.

Yes, me too.  I'm starting to use my Virgin current account more now because it always prompts me to enter a nickname for a new payee.

drphila

Bridlington1 said:

PloughmansLunch said:

Bridlington1 said:

For those of you with a Furness BS Christmas Regular Saver due to mature on Friday 10/1/25.

In my experience of withdrawals from Furness BS by faster payment funds are debited from the account the day the request is made but arrive the next working day, thus if the account is due to mature on Friday and you choose to have the account closed upon maturity I would suspect the funds would be debited from your account on Friday but not arrive in your nominated account till Monday, not earning interest in that time, which is noteworthy given the final balance could be potentially over £6k .

One option worth considering could be to empty the account today (can be done in online banking) in order to reduce the amount of time you've got a large sum ``in transit" earning no interest.

It will have to be done in several goes if this is allowed, leaving a minimum of £1 - the withdrawal screen says the full balance is more than the maximum for a single transaction. Mine matures on Saturday so potentially a Tuesday payment otherwise. 

Maximum is £5k, I've just made 2 withdrawals (one for £5k, one for £999) and it's gone through.

Are they not enforcing the one withdrawal rule?

drphila

PowerSavingMode said:

ForumUser7 said:

PowerSavingMode said:

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!

They sent an email notifying of an upcoming new portal on 19/04/2024, then a release email on 07/05/2024.

When you see this screen:

You need to click 'existing customer registration' - not login as you don't have a login for the new portal from the sounds of things, and the old portal log ins are no longer valid.

If this doesn't work however, and the contact form isn't working, probably best to call them in the morning.

Thank you. I received neither emails. 

To complete the new registration process, you will require a code to be sent by post

francoghezzi

Please, if we could put the subject on top of our posts this forum would become more readable. The name of the bank or building society we're talking about might be perfect

Bridlington1

drphila said:

Bridlington1 said:

PloughmansLunch said:

Bridlington1 said:

For those of you with a Furness BS Christmas Regular Saver due to mature on Friday 10/1/25.

In my experience of withdrawals from Furness BS by faster payment funds are debited from the account the day the request is made but arrive the next working day, thus if the account is due to mature on Friday and you choose to have the account closed upon maturity I would suspect the funds would be debited from your account on Friday but not arrive in your nominated account till Monday, not earning interest in that time, which is noteworthy given the final balance could be potentially over £6k .

One option worth considering could be to empty the account today (can be done in online banking) in order to reduce the amount of time you've got a large sum ``in transit" earning no interest.

It will have to be done in several goes if this is allowed, leaving a minimum of £1 - the withdrawal screen says the full balance is more than the maximum for a single transaction. Mine matures on Saturday so potentially a Tuesday payment otherwise. 

Maximum is £5k, I've just made 2 withdrawals (one for £5k, one for £999) and it's gone through.

Are they not enforcing the one withdrawal rule?

My interpretation was that you could make more than one withdrawal from the Furness Christmas RS during the term, but the penalty for doing so was that it'd be transferred to an access account from that point, how long it takes them to do this though I do not know.

I took the view that I was happy for them to do this since the account is due to mature tomorrow anyway so it wouldn't make much difference either way, if at all.

Regardless though at the moment my account still shows as a regular saver despite my making 2 withdrawals:

Rich2808

francoghezzi said:

Please, if we could put the subject on top of our posts this forum would become more readable. The name of the bank or building society we're talking about might be perfect

Totally agree - I gather recent posts have been about Hinckley and Rugby and Furness building societies. But it took me a bit of time to work it out.

When they are small local societies - we just need to make this clear. Big banks/national societies are intended to be mass national providers offering accounts to all UK residents - these smaller local societies mostly aren't geared up for that.

A bit old fashioned I know - but small local societies should be for locals/people in that region in my view. So if you live nearby - fill your boots. 

Hattie627

Rich2808 said:

francoghezzi said:

Please, if we could put the subject on top of our posts this forum would become more readable. The name of the bank or building society we're talking about might be perfect

Totally agree - I gather recent posts have been about Hinckley and Rugby and Furness building societies. But it took me a bit of time to work it out.

When they are small local societies - we just need to make this clear. Big banks/national societies are intended to be mass national providers offering accounts to all UK residents - these smaller local societies mostly aren't geared up for that.

A bit old fashioned I know - but small local societies should be for locals/people in that region in my view. So if you live nearby - fill your boots. 

I think we need to be patient with small, local societies and not expect or require the sort of speed of service we might expect from (for example) the banks and national societies. For example, if payment on closure/maturity is by cheque we should accept that and not phone up asking for bank transfer. Dealing with calls like that is resource-intensive for these small organisations.

I don't agree that small local societies should "only" be for locals. If a society wants to open up a savings account to a wider market and feels that it has the resources to cope with this, this can only benefit locals of that area by bringing in money from outside the area for mortgage lending in the area.

simonsmithsays

francoghezzi said:

Please, if we could put the subject on top of our posts this forum would become more readable. The name of the bank or building society we're talking about might be perfect

I'd prefer the title of this thread to contain something like  'PLEASE STATE THE INSTITUTION YOU ARE REFERRING TO WHEN REPLYING'.

This might cut down on the amount of mind reading needed when forumites who don't.

Some don't even use the quote function!

happybagger

Hattie627 said:

I don't agree that small local societies should "only" be for locals. If a society wants to open up a savings account to a wider market and feels that it has the resources to cope with this, this can only benefit locals of that area by bringing in money from outside the area for mortgage lending in the area.

Exactly. They have the means to restrict however they wish, if they need to avoid being overwhelmed either by locals or non-locals. Vernon have introduced restrictions likely for that reason, where only those determined enough will hunt for entry points. We also know Monmouthshire have gone the other way, taking weeks of backlogged applications before they do anything about it.