The Top Regular Savers Discussion Thread

apt

gt94sss2 said:

dingling68 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

I closed mine this week without a penalty.

dingling68

gt94sss2 said:

dingling68 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 😊

flaneurs_lobster

subjecttocontract said:

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.

Kim_13

flaneurs_lobster said:

subjecttocontract said:

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.

I am just going to wait until 1st September to ask to close mine, then that covers me for either scenario. It will be within 30 days of notification which I thought was in the T and Cs booklet and on the effective date so complying with what was in the email. By waiting until September I should be able to place the funds in an account paying 6% rather than doing it now and only being able to get an unchanging 5% from Melton.

s71hj

How long for payments from matured Skipton regular saver to appear in an external account after withdrawal request? 

s71hj

s71hj said:

How long for payments from matured Skipton regular saver to appear in an external account after withdrawal request? 

Did an experiment and found out it was within half an hour! 

surreysaver

s71hj said:

s71hj said:

How long for payments from matured Skipton regular saver to appear in an external account after withdrawal request? 

Did an experiment and found out it was within half an hour! 

It depends at what time of the day you put the request in. I believe if its before 15.00 on a weekday, you'll get it the same day. After that, next working day

janusd

surreysaver said:

s71hj said:

s71hj said:

How long for payments from matured Skipton regular saver to appear in an external account after withdrawal request? 

Did an experiment and found out it was within half an hour! 

It depends at what time of the day you put the request in. I believe if its before 15.00 on a weekday, you'll get it the same day. After that, next working day

it's down on my spreadsheet as 8pm on a workday - and just checking the site confirms this.

For payments before the cut-off time (8pm on a business day): Your payment will usually arrive within two hours. The latest your payment will arrive is by the end of the next business day. For payments after the cut-off time: Your payment will be sent at 9am on the next business day, and will usually arrive within two hours of this time. The latest your payment will arrive is by the end of the next business day. The payment will be deducted from your savings account for the purposes of calculating interest from the time you instruct the payment to be withdrawn.

subjecttocontract

flaneurs_lobster said:

subjecttocontract said:

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.

I only had £100 in the account so the interest payment was small but there was no deduction. So, I assume it's 30 days either side of the interest rate reduction.