The Top Regular Savers Discussion Thread

allegro120

jameseonline said:

allegro120 said:

flaneurs_lobster said:

masonic said:

flaneurs_lobster said:

masonic said:

pecunianonolet said:

allegro120 said:

pecunianonolet said:

Halifax

I also just got my maturity letter but I never funded the account, it's been sitting for the entire year at a NIL balance. Can I stop the rollover so I can freely open a new one at a later time? I do not want to break any T&C's so what's the correct way to have it just closed down? I had issues with Halifax before so I don't want to trigger any reviews or other sort of trouble and attention.

You can close and open Halifax RS at any time without triggering any attention or potential trouble. Unlike Lloyds and BoS, Halifax doesn't have 12 month rule.

That's the point I don't trust LBG about. ...

Maybe I'm missing it, but I don't see anything in your activities that would go against the letter or even the spirit of the T&C of those accounts.

About the only jiggery-pokery that's available on these accounts is renewing them to an ordinary saver to allow the opening of another RS thus preserving a fixed rate for another year - against the "spirit" of only having 1 each of these accounts per year and not being able to open another until the term is up (had you closed them rather than renewed them).

Exactly, and having taken advantage of that on multiple occasions with no comeback, I am surprised that simply reopening an account after maturity and funding immediately, or making irregular deposits and withdrawing, would cause LBG to conduct a review.

Me too, my sole activity on my Lloyds accounts is paying in £2k once a month, funding the two RS then moving the balance out again, leaving the fiver that's been there for years. Never a sniff of "'Ello, 'ello Sunshine.....".

The same here.  On the 1st of each month £2k in, £400 to Club, £250 to Normal and £1350 out.  I don't keep any money in Lloyds current accounts.  I used to have a permanent £5k balance when they paid 4% interest, but that was about 10 years ago.  Never had any problems with Lloyds.

I'm surprised anyone bothers with the standard tbh, I've only really been bothering with the Club up until recently but I think I'll be emptying it gradually and having it as a backup/overflow account.

I guess if you have all the other decent regulars, but otherwise many may more than 5.25%.

Ive been paying in £2000 a month and £400 of which has been going to the 6.25% Club Lloyds (£1600 straight back out) , but you have both Nationwide and Virgin doing 6.5% these days & Monmouthshire with 6% & 7% accounts and high monthly deposit limits. 

Yes, I have all of them (except some 'locals/branch-only'). My minimum for RS is currently 5.15%, so Lloyd's 5.25% receives full allowance.

friolento

jameseonline said:

allegro120 said:

flaneurs_lobster said:

masonic said:

flaneurs_lobster said:

masonic said:

pecunianonolet said:

allegro120 said:

pecunianonolet said:

Halifax

I also just got my maturity letter but I never funded the account, it's been sitting for the entire year at a NIL balance. Can I stop the rollover so I can freely open a new one at a later time? I do not want to break any T&C's so what's the correct way to have it just closed down? I had issues with Halifax before so I don't want to trigger any reviews or other sort of trouble and attention.

You can close and open Halifax RS at any time without triggering any attention or potential trouble. Unlike Lloyds and BoS, Halifax doesn't have 12 month rule.

That's the point I don't trust LBG about. ...

Maybe I'm missing it, but I don't see anything in your activities that would go against the letter or even the spirit of the T&C of those accounts.

About the only jiggery-pokery that's available on these accounts is renewing them to an ordinary saver to allow the opening of another RS thus preserving a fixed rate for another year - against the "spirit" of only having 1 each of these accounts per year and not being able to open another until the term is up (had you closed them rather than renewed them).

Exactly, and having taken advantage of that on multiple occasions with no comeback, I am surprised that simply reopening an account after maturity and funding immediately, or making irregular deposits and withdrawing, would cause LBG to conduct a review.

Me too, my sole activity on my Lloyds accounts is paying in £2k once a month, funding the two RS then moving the balance out again, leaving the fiver that's been there for years. Never a sniff of "'Ello, 'ello Sunshine.....".

The same here.  On the 1st of each month £2k in, £400 to Club, £250 to Normal and £1350 out.  I don't keep any money in Lloyds current accounts.  I used to have a permanent £5k balance when they paid 4% interest, but that was about 10 years ago.  Never had any problems with Lloyds.

I'm surprised anyone bothers with the standard tbh, I've only really been bothering with the Club up until recently but I think I'll be emptying it gradually and having it as a backup/overflow account.

I guess if you have all the other decent regulars, but otherwise many may more than 5.25%.

Ive been paying in £2000 a month and £400 of which has been going to the 6.25% Club Lloyds (£1600 straight back out) , but you have both Nationwide and Virgin doing 6.5% these days & Monmouthshire with 6% & 7% accounts and high monthly deposit limits. 

If you have (to have) large sums of cash, a 5.25%, or even lower % RS seems the logical thing to have. Goes without saying that you would then  of course also have all the higher paying accounts that you are eligible for.

schiff

PRINCIPALITY
Closure etc all done and dusted - £200 into Issue 4 (with the same account number) as requested - the balance into my EA account to deal with as I wish.
Excellent service as always.

flaneurs_lobster

schiff said:

PRINCIPALITY
Closure etc all done and dusted - £200 into Issue 4 (with the same account number) as requested - the balance into my EA account to deal with as I wish.
Excellent service as always.

I also - although the balance has yet to hit my (external) nominated account.

flaneurs_lobster

jameseonline said:

I'm surprised anyone bothers with the standard tbh, I've only really been bothering with the Club up until recently but I think I'll be emptying it gradually and having it as a backup/overflow account.

I guess if you have all the other decent regulars, but otherwise many may more than 5.25%.

Ive been paying in £2000 a month and £400 of which has been going to the 6.25% Club Lloyds (£1600 straight back out) , but you have both Nationwide and Virgin doing 6.5% these days & Monmouthshire with 6% & 7% accounts and high monthly deposit limits. 

TBH I've stopped funding anything less than 6% a month ago, I've simply run out of available funds.

s71hj

flaneurs_lobster said:

jameseonline said:

I'm surprised anyone bothers with the standard tbh, I've only really been bothering with the Club up until recently but I think I'll be emptying it gradually and having it as a backup/overflow account.

I guess if you have all the other decent regulars, but otherwise many may more than 5.25%.

Ive been paying in £2000 a month and £400 of which has been going to the 6.25% Club Lloyds (£1600 straight back out) , but you have both Nationwide and Virgin doing 6.5% these days & Monmouthshire with 6% & 7% accounts and high monthly deposit limits. 

TBH I've stopped funding anything less than 6% a month ago, I've simply run out of available funds.

The Monmouthshire ones rather changed everything 

ThePirates

flaneurs_lobster said:

schiff said:

PRINCIPALITY
Closure etc all done and dusted - £200 into Issue 4 

I also - although the balance has yet to hit my (external) nominated account.

Snap! 
3 x issue 3 and 2 x issue 4 now held. 
As Mr Lobster still waiting for external funds to arrive.

clairec666

s71hj said:

flaneurs_lobster said:

jameseonline said:

I'm surprised anyone bothers with the standard tbh, I've only really been bothering with the Club up until recently but I think I'll be emptying it gradually and having it as a backup/overflow account.

I guess if you have all the other decent regulars, but otherwise many may more than 5.25%.

Ive been paying in £2000 a month and £400 of which has been going to the 6.25% Club Lloyds (£1600 straight back out) , but you have both Nationwide and Virgin doing 6.5% these days & Monmouthshire with 6% & 7% accounts and high monthly deposit limits. 

TBH I've stopped funding anything less than 6% a month ago, I've simply run out of available funds.

The Monmouthshire ones rather changed everything 

I was going to say exactly the same thing. After all the time taken to build my NatWest regular saver up to £5000, I'm pulling everything out to get 7% from Monmouthshire!

E_zroda

flaneurs_lobster said:

schiff said:

PRINCIPALITY
Closure etc all done and dusted - £200 into Issue 4 (with the same account number) as requested - the balance into my EA account to deal with as I wish.
Excellent service as always.

I also - although the balance has yet to hit my (external) nominated account.

Is your nominated account like mine a Nationwide one by any chance?
@schiff: I wonder what makes your 'special'...

WillPS

With regards to LBG account closures.

I started employment at a bank back in January (not LBG), and had to undertake AML (anti money laundering) training. The training advised that a common sign of 'layering' is suddenly opening several accounts and/or bouncing money in and out of them "for no apparent reason".

On the good side - it helped me realise my fears that banks were permabanning customers on the grounds of poor profitability were unfounded.

On the bad side - it did cause me to think that if I was a member of staff in a bank, having undergone the same training, would I report my own activity?