The Top Regular Savers Discussion Thread

35har1old

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

Had no issue opening a new regular saver after the previous one matured 

35har1old

What_time_is_it said:

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!

Does happen occasionally 

35har1old

subjecttocontract said:

WillPS said:

subjecttocontract said:

My Monmouth Branch Exc' reg saver doesn't end in an X......It's just a 10 digit numeric. Suggest you just use the 10 digit number you have as the reference, leaving the X off. Try it with £1 to test it.

Don't do this the X is part of the number. 

X isn't a number, it's a letter. The OP said they had a 10 digit number.

Roman number

35har1old

where_are_we said:

New Manchester BS RS - I have to post 2 ID documents to confirm identity. I already have a Newcastle RS for which I had to supply passport photo and bank statement about 10 months ago. Because Newcastle BS and Manchester BS merged in 2023, and to save the onerous task of posting 2 ID documents to Manchester BS, what are my chances if I asked Manchester BS to view my Newcastle BS account and waive the need for fresh documents?

Opened account no ID required
Have you lived long at your present address 

PowerSavingMode

where_are_we said:

New Manchester BS RS - I have to post 2 ID documents to confirm identity. I already have a Newcastle RS for which I had to supply passport photo and bank statement about 10 months ago. Because Newcastle BS and Manchester BS merged in 2023, and to save the onerous task of posting 2 ID documents to Manchester BS, what are my chances if I asked Manchester BS to view my Newcastle BS account and waive the need for fresh documents?

Manchester BS RS

Not great, considering I have just had to apply from scratch for the Newcastle RS, which was closed the other day, AND had to send ID. Also, Manchester BS seem to think they sent me a link to upload their required documentation, but that never arrived — 8 days and counting (not in junk, etc)...

clairec666

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

Cooperative regular saver - had a response from their customer services team, saying "It is a requirement under the Regular Saver terms and conditions that you also have a current account with the Co-operative Bank so the current account would need to remain open"
Clearly contradicts @roked's experience of being able to switch out. Might just be the customer service person's own interpretation of the T&Cs, as I can only see a mention of needing a current account to open the RS, no mention of it remaining open.

PowerSavingMode

nomorekids said:

Apologies for asking as I know its been covered but can you close (renew) Halifax regular and open another straight away (ie in time for funding this month)?

Halifax RS renewal

masonic

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

Cooperative regular saver - had a response from their customer services team, saying "It is a requirement under the Regular Saver terms and conditions that you also have a current account with the Co-operative Bank so the current account would need to remain open"
Clearly contradicts @roked's experience of being able to switch out. Might just be the customer service person's own interpretation of the T&Cs, as I can only see a mention of needing a current account to open the RS, no mention of it remaining open.

The T&Cs are clear in what they do and do not say, and you are right that a current account is needed to be eligible to open the account. Whether or not certain members of staff assert there is a requirement in the T&Cs we cannot find, there have been several accounts of people not continuing to hold a current account, so we can be reasonably confident no action is taken to enforce this imaginary term.

friolento

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

Cooperative regular saver - had a response from their customer services team, saying "It is a requirement under the Regular Saver terms and conditions that you also have a current account with the Co-operative Bank so the current account would need to remain open"
Clearly contradicts @roked's experience of being able to switch out. Might just be the customer service person's own interpretation of the T&Cs, as I can only see a mention of needing a current account to open the RS, no mention of it remaining open.

I think you need their current account to get your money out as you can only make internal xfers from their savings accounts 

35har1old

nomorekids said:al

Apologies for asking as I know its been covered but can you close (renew) Halifax regular and open another straight away (ie in time for funding this month)?

Withdraw all funds then go to renewal options select a easy excess account this account will have the same account number as the regular saver and the interest will be added to this account transfer this out and then select close account doesn't take long to do the above 
Just to be on the safe log out 
Return immediately and this should let you open new regular saver 
I assume you either need the cash to fund other accounts or you are looking at securing the fixed rate for another year