The Top Regular Savers Discussion Thread

flaneurs_lobster

friolento 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

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 

Nah, can pay to external accounts from the RS.

35har1old

PowerSavingMode said:

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

Perphaps the OP doesn't want to wait to maturity and is mid term possibly 9 months in.

35har1old

friolento 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

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 

The terms say you can transfer out to another provider 

topyam

nomorekids said:

topyam said:

Co-Operative RS

So I have now got the CA opened. And have applied for their RS and been approved for that. More waiting now for it to appear on the app or online. How long does that take?

Don't hold your breath, co op are slow unfortunately, I m not holding out hope for funding this month having got my received your application last Friday

Hoping to fund this month too, but they seem v slow.

masonic

35har1old said:

friolento 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

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 

The terms say you can transfer out to another provider 

Yes, I can confirm that it let me set up and select an external payee from the regular saver, though I did not pull the trigger. The only restriction is you cannot set a reference when making external payments from their savings accounts.

allegro120

topyam said:

Co-Operative RS

So I have now got the CA opened. And have applied for their RS and been approved for that. More waiting now for it to appear on the app or online. How long does that take?

Takes about 2-3 working days.

alfred64

Reg_Smeeton said:

mhoc said:

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.

Looks like a day trip to Shrewsbury - does anyone think that they might want an appointment made??? Might give them a ring 

I tried to open this RS on the previous occasion it was in branch only ~18 months ago. It was by appointment only at Shrewsbury and they weren’t offering slots on Saturdays

Try a trip to West Bromwich. Open each day  (except Sunday) until 6pm including Saturday.

friolento

flaneurs_lobster said:

friolento 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

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 

Nah, can pay to external accounts from the RS.

I can’t from mine (RS or other TSB savings account). This is in the app. Not sure whether online would be the same

But yes, I could go into a branch ……. it just seems much easier to keep a current account 

shirley999

Manchester BS have returned my deposit paid from my second nominated account. Second because I hadn't realised deposits can only be made from your nominated account.  I've had two codes in the post to verify my nominated bank account details, and the second account was verified before I made the deposit.  Maybe it's just not meant to be, certainly the temptation is to just forget it. 

flaneurs_lobster

friolento said:

I can’t from mine (RS or other TSB savings account). This is in the app. Not sure whether online would be the same

But yes, I could go into a branch ……. it just seems much easier to keep a current account 

I (we?) were discussing the Co-op........