The Top Regular Savers Discussion Thread

Bridlington1

roked said:

clairec666 said:

roked said:

clairec666 said:

flaneurs_lobster said:

By no means certain but I don't think you need to keep the current account. 

Could maybe save any problems by opening a second CA with them before swapping the first out?

Thanks, could be worth a try. And if they continue to offer a decent regular saver in future, I guess I'll need a new current account anyway.

Yes it does stay open, I have done it when I used the current account as a switcher account part way through. Everything was fine with it through to the end and I could withdraw to my external current account without issues.

The only 'issue' was that when I tried to open another current account to apply for a new RS, it would not let me do it using my existing details and I had to apply again as if a new customer. Not a big deal, just delays things (as co-op are not known for being quick) while waiting for it all to be setup again before applying for the RS

Thanks for the advice. Given that co-op have offered a very good regular saver for quite a while now, it'll be worth having another current account with them. And if it's a bit of a hassle to open a new one, might as well do it now. (I'm not fussed about my credit score, hard checks and all that.)

No probs. If you are already going to open a new current account while having an existing one i.e. opening a 2nd account, then that might work better and probably will be able to keep your existing sign on etc

In my experience if you switch out and then open a new Co-op current account your old login starts working again.

If trying to avoid the hard searches then it's worth noting you can still get the regular saver with their cashminder account, so switching out then opening the cashminder account could be a good option.

topyam

Ah so once the Co-Op RS matures, there's no new issue, and you have to try and open another of the same but with a different CA? That is a pain

Confused_Dog

schiff said:

West Brom RS 7 maturity details received today. No decent replacement RS, just a RS account at 2.35%. Disappointing.

The West Brom have made their Fixed Rate Regular Saver one that only can be opened in branch, rather than online, seems to be a bit of a backward step to me.  https://www.westbrom.co.uk/savings/regular-savers/fixed-rate-regular-saver-issue-7

Rate currently 6% and their branches are in the Birmingham and Black Country area, but they've not had one in Birmingham City Centre for a while.

allegro120

topyam said:

Ah so once the Co-Op RS matures, there's no new issue, and you have to try and open another of the same but with a different CA? That is a pain

No, you can open it with your existing CA.  It's only if you closed/switched your CA you will need to open another one.
Co-op RS matures into a low paying EA, as soon as this happens you can apply for your next RS.  That's the most common practice for most RS products.

clairec666

topyam said:

Ah so once the Co-Op RS matures, there's no new issue, and you have to try and open another of the same but with a different CA? That is a pain

You can use the same current account, unless you're being daft like me and trying to over-complicate things by chasing switching bonuses

s71hj

clairec666 said:

topyam said:

Ah so once the Co-Op RS matures, there's no new issue, and you have to try and open another of the same but with a different CA? That is a pain

You can use the same current account, unless you're being daft like me and trying to over-complicate things by chasing switching bonuses

I must say, in terms of switches I now stick with opening an additional Chase curtent account, which happens instantly and setting up a couple of  30p direct debit payments which are set up within days. I know it shaves a sliver off the profit but it's very bish bash bosh time wise! 

clairec666

s71hj said:

clairec666 said:

topyam said:

Ah so once the Co-Op RS matures, there's no new issue, and you have to try and open another of the same but with a different CA? That is a pain

You can use the same current account, unless you're being daft like me and trying to over-complicate things by chasing switching bonuses

I must say, in terms of switches I now stick with opening an additional Chase curtent account, which happens instantly and setting up a couple of  30p direct debit payments which are set up within days. I know it shaves a sliver off the profit but it's very bish bash bosh time wise! 

Good advice. I'm thinking of doing the Lloyds switch which requires 3 direct debits which have already been paid out. And as the offer could be pulled at any time, it would be useful to use an existing account.

Anyway, back on topic, as this is the regular savers thread. It's been a bit quiet in the regular saver world. For a couple of days, anyway.

Section62

clairec666 said:

...
Anyway, back on topic, as this is the regular savers thread. It's been a bit quiet in the regular saver world. For a couple of days, anyway.

Often is at the weekend.

trickydicky14

Confused_Dog said:

schiff said:

West Brom RS 7 maturity details received today. No decent replacement RS, just a RS account at 2.35%. Disappointing.

The West Brom have made their Fixed Rate Regular Saver one that only can be opened in branch, rather than online, seems to be a bit of a backward step to me.  https://www.westbrom.co.uk/savings/regular-savers/fixed-rate-regular-saver-issue-7

Rate currently 6% and their branches are in the Birmingham and Black Country area, but they've not had one in Birmingham City Centre for a while.

And one in Shrewsbury Shropshire.

What_time_is_it

I’ve set up a Branch Exclusive Regular Saver with the Monmouthshire.

I now have the account number in the app. It’s a 10 digit number but it ends in an X. Is that normal?

I want to transfer some funds before the month ends but I also want to be certain that the details are correct!