The Top Regular Savers Discussion Thread

s71hj

surreysaver said:

jameseonline said:

ChewyyBacca said:

PowerSavingMode said:

potlings said:

PowerSavingMode said:

Aidanmc said:

Newcastle BS 
My RS matures on 25th, no issues if i request to close early? Was going to request closure on 23rd and should receive on 25th.

Newcastle BS 

I closed mine early a few weeks ago, but it has caused no end of trouble. The funds were sent with interest all well and promptly, BUT I have not been able to open a new savings account since, despite going through all the relevant ID steps successfully. My emails have been falling on deaf ears.

Also, for some infinite wisdom known only to Newcastle BS, my entire online account was shut down when I closed the RS, so I am unable to log in at all using my old USER ID, etc  (I didn't have any other accounts with them, but other banks, BSs, have always kept my online access so I can, for instance, check previous transactions, etc).

I don't know if this will be the same for you, but if it helps in any way...

I closed a Newcastle RS some months ago. This was my only account with them, and my online account was also shut down. Opened their Monument RS last week, just had to register for a new online account.

Newcastle BS

Nope, tried that, too. Seems they want none of my money after closing that one account, whether it be their 'regular' regular saver or their Monument RS. Ah well... other regular savers with other banks/BSs are available!

This is true for many BS.

Found out the hard way for Aldermore. Closed their Reg Saver last year, when I needed the money. Came back a couple of months later to open a new Reg Saver, I had to go through entire registration process again.

Same with Principality BS, if you do not have an active account with them, Online logins dont work. Open a new account & re-register yourself.

The thought of having to re register with several banks, building societies fills me with dread, that's why I setup several current accounts purely to switch & have built up a nice collection of accounts over a few years since.

I've spent the time getting accounts in the 1st place why would I want to spend all that time again getting everything back?.

Honestly people don't keep closing & switching everything as you could miss out on decent accounts, keep at least 1 account with a minimal amount in not only for loyalty but to keep your online profile.

Once I'm online with an organisation, I stay online with them by keeping £1, £10, £100 or whatever.
I'll open an uncompetitive regular saver to start a membership with an organisation I don't have a relationship with.
I need to pop up to Stafford in a couple of weeks to claim my £300 I've built up with their local building society. Never been to Stafford before, so will have to see if there's anything else in the local area of interest 

WestBrom branch only RS? 

Bobblehat

surreysaver said:

jameseonline said:

ChewyyBacca said:

PowerSavingMode said:

potlings said:

PowerSavingMode said:

Aidanmc said:

Newcastle BS 
My RS matures on 25th, no issues if i request to close early? Was going to request closure on 23rd and should receive on 25th.

Newcastle BS 

I closed mine early a few weeks ago, but it has caused no end of trouble. The funds were sent with interest all well and promptly, BUT I have not been able to open a new savings account since, despite going through all the relevant ID steps successfully. My emails have been falling on deaf ears.

Also, for some infinite wisdom known only to Newcastle BS, my entire online account was shut down when I closed the RS, so I am unable to log in at all using my old USER ID, etc  (I didn't have any other accounts with them, but other banks, BSs, have always kept my online access so I can, for instance, check previous transactions, etc).

I don't know if this will be the same for you, but if it helps in any way...

I closed a Newcastle RS some months ago. This was my only account with them, and my online account was also shut down. Opened their Monument RS last week, just had to register for a new online account.

Newcastle BS

Nope, tried that, too. Seems they want none of my money after closing that one account, whether it be their 'regular' regular saver or their Monument RS. Ah well... other regular savers with other banks/BSs are available!

This is true for many BS.

Found out the hard way for Aldermore. Closed their Reg Saver last year, when I needed the money. Came back a couple of months later to open a new Reg Saver, I had to go through entire registration process again.

Same with Principality BS, if you do not have an active account with them, Online logins dont work. Open a new account & re-register yourself.

The thought of having to re register with several banks, building societies fills me with dread, that's why I setup several current accounts purely to switch & have built up a nice collection of accounts over a few years since.

I've spent the time getting accounts in the 1st place why would I want to spend all that time again getting everything back?.

Honestly people don't keep closing & switching everything as you could miss out on decent accounts, keep at least 1 account with a minimal amount in not only for loyalty but to keep your online profile.

Once I'm online with an organisation, I stay online with them by keeping £1, £10, £100 or whatever.
I'll open an uncompetitive regular saver to start a membership with an organisation I don't have a relationship with.
I need to pop up to Stafford in a couple of weeks to claim my £300 I've built up with their local building society. Never been to Stafford before, so will have to see if there's anything else in the local area of interest 

There's a Hanley BS branch in Stone, only 8 mile away from Stafford .....?

clivep

Scottish BS:

When my passbook came it showed the deposit as dated 10th October. The cheque was cleared on 16th October.

I've just received the letter with login details. When I look at the transactions it shows the £250 cheque deposit dated 10th with the ref "Receipt - Savings - Uncleared(BSV Cheque Payment)" followed by a second transaction with the same reference but for -£250. There are no further transactions and the balance is showing as £0.00.

It's also showing a date opened of 01/01/0001.

SH88SH88

clivep said:

It's also showing a date opened of 01/01/0001.

In that case, you should be receiving a very hefty first interest payment !

PloughmansLunch

clivep said:

Scottish BS:

When my passbook came it showed the deposit as dated 10th October. The cheque was cleared on 16th October.

I've just received the letter with login details. When I look at the transactions it shows the £250 cheque deposit dated 10th with the ref "Receipt - Savings - Uncleared(BSV Cheque Payment)" followed by a second transaction with the same reference but for -£250. There are no further transactions and the balance is showing as £0.00.

It's also showing a date opened of 01/01/0001.

Sounds odd to me, mine shows date opened 06/10/2025, has the correct positive balance and has a single transaction.

NB. For 13th payment enthusiasts, the max balance is showing as £3300

friolento

Section62 said:

friolento said:

francoghezzi said:

happybagger said:

I wonder how many grumbles we will see if Scottish BS decide there are enough applications for the account and the funding is anticipated sufficient for them to decide to make it NLA and not actually offer an online version?

Just open it by post, folks.

If made NLA be prepared for hundreds of pages filled with grumbles by people who wouldn't spend for a 2nd class stamp to apply by post missing out on an entire month at 6.5% that is variable and could be lowered any day. Popcorn ready

 No second class stamp is needed. Just use the Freepost address which can easily be googled and was posted a few times in this thread.

A deal breaker for some might be the logistics and the cost of getting the application form, the use of a 🖊️, the cost of the envelope, and the need to walk to the nearest post box…………………

...also the non-zero risk of possibly needing to make a branch visit in person.  A long way to travel for some people.

Application by post is completely legit, as is online, postal and phone management. There is therefore zero risk of having to make a branch visit for any reason.

mhoc

surreysaver said:

jameseonline said:

ChewyyBacca said:

PowerSavingMode said:

potlings said:

PowerSavingMode said:

Aidanmc said:

Newcastle BS 
My RS matures on 25th, no issues if i request to close early? Was going to request closure on 23rd and should receive on 25th.

Newcastle BS 

I closed mine early a few weeks ago, but it has caused no end of trouble. The funds were sent with interest all well and promptly, BUT I have not been able to open a new savings account since, despite going through all the relevant ID steps successfully. My emails have been falling on deaf ears.

Also, for some infinite wisdom known only to Newcastle BS, my entire online account was shut down when I closed the RS, so I am unable to log in at all using my old USER ID, etc  (I didn't have any other accounts with them, but other banks, BSs, have always kept my online access so I can, for instance, check previous transactions, etc).

I don't know if this will be the same for you, but if it helps in any way...

I closed a Newcastle RS some months ago. This was my only account with them, and my online account was also shut down. Opened their Monument RS last week, just had to register for a new online account.

Newcastle BS

Nope, tried that, too. Seems they want none of my money after closing that one account, whether it be their 'regular' regular saver or their Monument RS. Ah well... other regular savers with other banks/BSs are available!

This is true for many BS.

Found out the hard way for Aldermore. Closed their Reg Saver last year, when I needed the money. Came back a couple of months later to open a new Reg Saver, I had to go through entire registration process again.

Same with Principality BS, if you do not have an active account with them, Online logins dont work. Open a new account & re-register yourself.

The thought of having to re register with several banks, building societies fills me with dread, that's why I setup several current accounts purely to switch & have built up a nice collection of accounts over a few years since.

I've spent the time getting accounts in the 1st place why would I want to spend all that time again getting everything back?.

Honestly people don't keep closing & switching everything as you could miss out on decent accounts, keep at least 1 account with a minimal amount in not only for loyalty but to keep your online profile.

Once I'm online with an organisation, I stay online with them by keeping £1, £10, £100 or whatever.
I'll open an uncompetitive regular saver to start a membership with an organisation I don't have a relationship with.
I need to pop up to Stafford in a couple of weeks to claim my £300 I've built up with their local building society. Never been to Stafford before, so will have to see if there's anything else in the local area of interest 

surreysaver said:

jameseonline said:

ChewyyBacca said:

PowerSavingMode said:

potlings said:

PowerSavingMode said:

Aidanmc said:

Newcastle BS 
My RS matures on 25th, no issues if i request to close early? Was going to request closure on 23rd and should receive on 25th.

Newcastle BS 

I closed mine early a few weeks ago, but it has caused no end of trouble. The funds were sent with interest all well and promptly, BUT I have not been able to open a new savings account since, despite going through all the relevant ID steps successfully. My emails have been falling on deaf ears.

Also, for some infinite wisdom known only to Newcastle BS, my entire online account was shut down when I closed the RS, so I am unable to log in at all using my old USER ID, etc  (I didn't have any other accounts with them, but other banks, BSs, have always kept my online access so I can, for instance, check previous transactions, etc).

I don't know if this will be the same for you, but if it helps in any way...

I closed a Newcastle RS some months ago. This was my only account with them, and my online account was also shut down. Opened their Monument RS last week, just had to register for a new online account.

Newcastle BS

Nope, tried that, too. Seems they want none of my money after closing that one account, whether it be their 'regular' regular saver or their Monument RS. Ah well... other regular savers with other banks/BSs are available!

This is true for many BS.

Found out the hard way for Aldermore. Closed their Reg Saver last year, when I needed the money. Came back a couple of months later to open a new Reg Saver, I had to go through entire registration process again.

Same with Principality BS, if you do not have an active account with them, Online logins dont work. Open a new account & re-register yourself.

The thought of having to re register with several banks, building societies fills me with dread, that's why I setup several current accounts purely to switch & have built up a nice collection of accounts over a few years since.

I've spent the time getting accounts in the 1st place why would I want to spend all that time again getting everything back?.

Honestly people don't keep closing & switching everything as you could miss out on decent accounts, keep at least 1 account with a minimal amount in not only for loyalty but to keep your online profile.

Once I'm online with an organisation, I stay online with them by keeping £1, £10, £100 or whatever.
I'll open an uncompetitive regular saver to start a membership with an organisation I don't have a relationship with.
I need to pop up to Stafford in a couple of weeks to claim my £300 I've built up with their local building society. Never been to Stafford before, so will have to see if there's anything else in the local area of interest 

I come from Stafford - mostly its another town that has lost its charm so I only visit now about once a year to go the Stafford railway BS. Park on Aldi as it is free parking, go to SBS and withdraw your £300, go to Cup a char on North Walls for a brew and then leave  

Section62

friolento said:

Section62 said:

friolento said:

francoghezzi said:

happybagger said:

I wonder how many grumbles we will see if Scottish BS decide there are enough applications for the account and the funding is anticipated sufficient for them to decide to make it NLA and not actually offer an online version?

Just open it by post, folks.

If made NLA be prepared for hundreds of pages filled with grumbles by people who wouldn't spend for a 2nd class stamp to apply by post missing out on an entire month at 6.5% that is variable and could be lowered any day. Popcorn ready

 No second class stamp is needed. Just use the Freepost address which can easily be googled and was posted a few times in this thread.

A deal breaker for some might be the logistics and the cost of getting the application form, the use of a 🖊️, the cost of the envelope, and the need to walk to the nearest post box…………………

...also the non-zero risk of possibly needing to make a branch visit in person.  A long way to travel for some people.

Application by post is completely legit, as is online, postal and phone management. There is therefore zero risk of having to make a branch visit for any reason.

You could guarantee that, on behalf of Scottish building society?

Personally I always work on the basis a branch-based account might require a visit at some point in time - not necessarily likely, but might be one of those things like wanting to see you in person with photo ID in order to regain access to an account/funds in an account.

It wouldn't stop me opening a branch account, but if there's an either/or situation (as there may be in this case) I'd generally opt for an online account rather than a branch one, to help cover off the non-zero risk of having to make a branch visit.  No point complaining you've been asked to make a branch visit for a branch-based account.

In this case I have applied by post, taking the view a bird in the hand etc.  But I could understand some people being reluctant to open accounts with a local building society which is based a long way from home.... as one aspect of the 'logistics' you mentioned.

Kim_13

My application will be in the post tomorrow. There was no loss to me in waiting until now in hope of the online version launching as all of the funds I had available earlier were taken up by 7%+ paying Regular Savers.

I take the view that, were they to require a branch visit, I could cancel the application (and they wouldn't accept the funds as I wouldn't have satisfied them as regards to whatever it was that made them ask for the branch visit.) I could then go via the online process whenever that appears, if indeed it does.

friolento

Section62 said:

friolento said:

Section62 said:

friolento said:

francoghezzi said:

happybagger said:

I wonder how many grumbles we will see if Scottish BS decide there are enough applications for the account and the funding is anticipated sufficient for them to decide to make it NLA and not actually offer an online version?

Just open it by post, folks.

If made NLA be prepared for hundreds of pages filled with grumbles by people who wouldn't spend for a 2nd class stamp to apply by post missing out on an entire month at 6.5% that is variable and could be lowered any day. Popcorn ready

 No second class stamp is needed. Just use the Freepost address which can easily be googled and was posted a few times in this thread.

A deal breaker for some might be the logistics and the cost of getting the application form, the use of a 🖊️, the cost of the envelope, and the need to walk to the nearest post box…………………

...also the non-zero risk of possibly needing to make a branch visit in person.  A long way to travel for some people.

Application by post is completely legit, as is online, postal and phone management. There is therefore zero risk of having to make a branch visit for any reason.

You could guarantee that, on behalf of Scottish building society?

Personally I always work on the basis a branch-based account might require a visit at some point in time - not necessarily likely, but might be one of those things like wanting to see you in person with photo ID in order to regain access to an account/funds in an account.

It wouldn't stop me opening a branch account, but if there's an either/or situation (as there may be in this case) I'd generally opt for an online account rather than a branch one, to help cover off the non-zero risk of having to make a branch visit.  No point complaining you've been asked to make a branch visit for a branch-based account.

In this case I have applied by post, taking the view a bird in the hand etc.  But I could understand some people being reluctant to open accounts with a local building society which is based a long way from home.... as one aspect of the 'logistics' you mentioned.

I have held hundreds of accounts over the years, including one SBS one a few years ago, and was never asked to go to any Branch, not even when we still had dozens of them in most towns and cities. 

ID verification has also changed tremendously over the years. Even if a person is involved in serious crime and has all sorts of CIFAS markers against them, there is next to zero risk that anyone has to ever appear in person to make withdrawals from their savings accounts. 

I also don't recall seeing any posts on MSE from people who had to show up in a branch to withdraw from their Regular Saver accounts but it it possible that I have overlooked them - in which case it would be great if you could post some links?

I hope RS newbies and other less experienced forumites won't feel discouraged by unlikely scare stories from applying for accounts.