The Top Regular Savers Discussion Thread

ChewyyBacca

10_66 said:

ChewyyBacca said:

BestSeagull Good tip for the other fixed rate RS I hold with Suffolk BS! How did you give maturity instruction to Suffolk?

In case of the variable rate RS, Im not sure what steps I should have taken to access my funds sooner, without loss of interest. 
I had given them clear instruction to send closure proceeds to my nominated account xxxxxxx
Also referenced their email that I received, regarding interest rate reduction and thus I can withdraw without any notice or penalty.

The maturity instructions are available online.  I can't remember how soon before maturity date.

Is it similar to Principality maturity instructions, as in choose online and no secure msg to be sent to be applied manually?

poolboy

Principality maturing options appear 14 days before end date.  I await Xmas ones so expect it to be Monday.

BestSeagull

ChewyyBacca said:

BestSeagull said:

ChewyyBacca said:

Suffolk BS Reg Saver Online 1 Year Variable Rate Regular Saver (31.03.2026)

Since they reduced rate to 4.6%, I sent a msg to close the account on 1 Oct
On 2 Oct, acct disappeared from Online system
Proceeds received on 7 Oct. 
Im told from 1 Oct to 2 Oct, the balance earned 1.85%. Im assuming the outstanding balance didnt earn anything from 2 Oct to 6 Oct.

Is this as per their Ts&Cs?

The rate chaser in me is peeved that I lost interest for 6 days.Anyone has those handy excel sheets to input numbers so that I see how much I should have received?

I had the same thing happen to me. Not because I closed the account early but because I didn't provide them with maturity instructions. Apparently if you do give instructions, the money is received into your nominated account the day after maturity but if you don't, it's the same holding hostage of the funds at that abysmal rate for several days.
So if you have any other of their RS accounts, make sure to give instructions before they mature. 

BestSeagull Good tip for the other fixed rate RS I hold with Suffolk BS! How did you give maturity instruction to Suffolk?

In case of the variable rate RS, Im not sure what steps I should have taken to access my funds sooner, without loss of interest. 
I had given them clear instruction to send closure proceeds to my nominated account xxxxxxx
Also referenced their email that I received, regarding interest rate reduction and thus I can withdraw without any notice or penalty.

I didn't, that was the problem.   

They told me that a letter had been sent to me and that I could have done it online. If no instructions are received the account is closed and the way out of that holding account is not quick.  Presumably they treated the closure of your account in the same way as if it had matured without instructions even though the circumstances were clearly different. 
Might be worth your while opening a complaint, at the very least they will have to dust off their terms and conditions to prove themselves in the right...

nottsphil

Is this a mistake in the SBS listing because I can see no way of opening this online (even though I'm over 18!)

Zekko

nottsphil said:

Is this a mistake in the SBS listing because I can see no way of opening this online (even though I'm over 18!)

You can only open the Scottish BS Regular Saver by Branch or Post.

masonic

The online version is anticipated to launch next week.

Hattie627

Zekko said:

nottsphil said:

Is this a mistake in the SBS listing because I can see no way of opening this online (even though I'm over 18!)

You can only open the Scottish BS Regular Saver by Branch or Post.

There is a suggestion that it may be available to open online fairly soon (for those 18+ only). Not known yet whether you will be able to open the online version if you already have the branch/post version.

Kim_13

Hattie627 said:

Zekko said:

nottsphil said:

Is this a mistake in the SBS listing because I can see no way of opening this online (even though I'm over 18!)

You can only open the Scottish BS Regular Saver by Branch or Post.

There is a suggestion that it may be available to open online fairly soon (for those 18+ only). Not known yet whether you will be able to open the online version if you already have the branch/post version.

A poster yesterday received a call from them, enquired about it and was told it is planned but you can't have both versions.

There was also a line in the 'How do I open the account?' box that says you can only hold one Regular Saver or e-Regular Saver, which was the first indication that one was upcoming. 

BestSeagull

Hattie627 said:

Zekko said:

nottsphil said:

Is this a mistake in the SBS listing because I can see no way of opening this online (even though I'm over 18!)

You can only open the Scottish BS Regular Saver by Branch or Post.

There is a suggestion that it may be available to open online fairly soon (for those 18+ only). Not known yet whether you will be able to open the online version if you already have the branch/post version.

@soulsaver has been told that we can't have both

https://forums.moneysavingexpert.com/discussion/comment/81682938#Comment_81682938 

clairec666

janusd said:

Hattie627 said:

To those who have input maturity instructions for a maturing Principality RS and selected a rollover to a 6 month RS (Issue 4)

Whether you chose option 2 or 4, check out your sent secure messages. If there is no sent message transmitting your instructions, you will probably be okay. If there is a sent message, you may find that your instructions will be rejected as they will go to a human who may (or may not) reject them.

chose option 4 this time (usually choose 2) - £200 in another new RS4, the rest to my EA account with - it has generated a secure message to them and have just received their reply...

Thank you for your secure message.

As requested, we will move £200 into a new 6 Month Regular Saver account and the remaining balance to your nominated Principality account. These funds will be in your account by the end of the day and you will keep the same account number.

get in! 

the reply wasn't from our usual unnamed friend, but from another colleague - for the record, I wasn't wearing a green shirt at the time of renewal.

subjecttocontract said:

Who cares ? It only matters of you can do something about it. Nobody has come up with a definitive answer as to what option works with Principality so, that leaves the wearing of a green shirt and crossing your fingers.

not you certainly. 

Last time out (early Sep?) I didn't generate or receive any kind of secure message, my maturity instructions were accepted and I my account rolled over into the latest issue but with the same account number as before.

Can't remember for the life of me whether I chose option 2 or 4. But judging from other people's experiences, it sounds like option 2 is the one to go for, option 4 gets checked by a human and you might get lucky.