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The Top Regular Savers Discussion Thread

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Comments

  • s71hj
    s71hj Posts: 872 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    s71hj said:
    s71hj said:
    Remind me what the FD regular saver process is. Mine matured today and has basically disappeared, replaced by a standard savings account and I've been able to successfully apply for a new one, but where do the matured funds re-emerge as accessible to me from the old one? 
    They'll appear in that new easy access account in a day or so. You could have sped the process by having an EA account already in place but hey-ho.

    A call to their usually very good CS can sometimes speed the process up, if you need the funds urgently.
    Many thanks. You live and learn then forget and another year passes and you remember , albeit too late! For some reason I have a whole stack of these maturing around the same time just to further complicate things! 
    Actually, when I double check, the savings account that is there is one from last year that I assume I never closed from last time so maybe the matured funds will land into that shortly? 
  • WillPS
    WillPS Posts: 5,273 Forumite
    Part of the Furniture 1,000 Posts Newshound! Name Dropper
    s71hj said:
    s71hj said:
    s71hj said:
    Remind me what the FD regular saver process is. Mine matured today and has basically disappeared, replaced by a standard savings account and I've been able to successfully apply for a new one, but where do the matured funds re-emerge as accessible to me from the old one? 
    They'll appear in that new easy access account in a day or so. You could have sped the process by having an EA account already in place but hey-ho.

    A call to their usually very good CS can sometimes speed the process up, if you need the funds urgently.
    Many thanks. You live and learn then forget and another year passes and you remember , albeit too late! For some reason I have a whole stack of these maturing around the same time just to further complicate things! 
    Actually, when I double check, the savings account that is there is one from last year that I assume I never closed from last time so maybe the matured funds will land into that shortly? 
    They will yes. No harm keeping that account empty through the year to receive the matured funds in to each time.
  • dingling68
    dingling68 Posts: 331 Forumite
    Part of the Furniture 100 Posts Name Dropper
    Coventry Sunny Day / Loyalty Seasonal Saver maturity

    Both of mine are due to mature on 31/8/25. Is it still the case that these will mature into an Easy Access Saver 7 account? I don't recall having seen any notification in the post, but may have overlooked it.

    From a check of the available RS accounts with Coventry this could be the end of a long RS history with them as I have others offering higher interest rates I can fill even after the recent round of cuts!
    Save £12k in 2022 #54 reporting for duty 
  • PowerSavingMode
    PowerSavingMode Posts: 333 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    Coventry Sunny Day / Loyalty Seasonal Saver maturity

    Both of mine are due to mature on 31/8/25. Is it still the case that these will mature into an Easy Access Saver 7 account? I don't recall having seen any notification in the post, but may have overlooked it.

    From a check of the available RS accounts with Coventry this could be the end of a long RS history with them as I have others offering higher interest rates I can fill even after the recent round of cuts!
    Coventry Sunny Day Saver maturity

    Yes, I received a letter today saying it will be closed and funds moved into a new Easy Access Saver (7), and they'll send a reminder before the change and a confirmation once everything is complete. 
  • gt94sss2
    gt94sss2 Posts: 6,219 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Loyalty Seasonal Saver maturity

    Both of mine are due to mature on 31/8/25. Is it still the case that these will mature into an Easy Access Saver 7 account? 
    Are you sure your loyalty seasonal saver matures this month? I seem to recall that if you close it before November, there is a penalty..
  • apt
    apt Posts: 3,247 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    gt94sss2 said:
    Loyalty Seasonal Saver maturity

    Both of mine are due to mature on 31/8/25. Is it still the case that these will mature into an Easy Access Saver 7 account? 
    Are you sure your loyalty seasonal saver matures this month? I seem to recall that if you close it before November, there is a penalty..
    But there's a window of 30 days following a rate reduction when you can close the account (not make a partial withdrawal) without penalty.
  • subjecttocontract
    subjecttocontract Posts: 2,966 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    I closed mine this week without a penalty.
  • dingling68
    dingling68 Posts: 331 Forumite
    Part of the Furniture 100 Posts Name Dropper
    gt94sss2 said:
    Loyalty Seasonal Saver maturity

    Both of mine are due to mature on 31/8/25. Is it still the case that these will mature into an Easy Access Saver 7 account? 
    Are you sure your loyalty seasonal saver matures this month? I seem to recall that if you close it before November, there is a penalty..
    Thank you for mentioning this! I had obvs copied the wrong date over to the Loyalty account when I opened it 😊
    Save £12k in 2022 #54 reporting for duty 
  • flaneurs_lobster
    flaneurs_lobster Posts: 7,359 Forumite
    Sixth Anniversary 1,000 Posts Photogenic Name Dropper
    I closed mine this week without a penalty.
    I don't doubt your experience for a moment but the wording of the rate reduction letter reads somewhat ambiguously 
    If you decide to close your account because of this rate change, you can do so without notice, charge, or loss of interest within 30 days of the effective date.  

    Is that a 30 day window after 1 Sep or a 60 day window, 30 days either side of 1 Sep?

    Your closure this week without penalty suggests the latter, although I would have interpreted the wording as meaning the former.

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