The Top Regular Savers Discussion Thread

surreysaver

allegro120 said:

Kim_13 said:

allegro120 said:

janusd said:

Kim_13 said:

Chaykin said:

Kim_13 said:

If you manually open a new RS, you can pay into the old one and the new one in the same month, as the new account number means they are considered different accounts.

Halifax - I thought you can only have one Regular Saver with them? Or is this something they don't enforce and, in actual fact, you can open more than one?

You can only have one, but if you close the Everyday Saver and re-open a new RS manually when it matures, the maturing and new RS can both have £250 paid into in the same month. If your Regular Saver is autorenewed, you are limited to £250 between the two.

while the Halifax RS is being discussed, my first RS with them matures on the 1st December (£3k balance). I received a letter from them asking what I want to do with the Everyday Saver (which obviously also expires on 1st December) - renew for 12 months, move (£0 balance so irrelevant) or close... if I do nothing, it converts to an Instant Saver on the 2nd.
I get that the RS auto-renews, but what do I do about this Everyday account? should I close it now or let the RS balance transfer to it at maturity? The Halifax RS page says to keep it open... any guidance would be appreciated.

I don’t close instant saver, just withdraw the balance. Cant see any point in complicating things. 

If the rate changes and you no longer want to renew, then doing nothing would complicate things (because the autorenewal will go ahead and you would have to use a workaround in order to be able to open another RS; get it wrong and you will be blocked from opening another until the 12 month anniversary of the autorenewed account.) 

Unlike Lloyds and BoS, Halifax doesn't restrict you from closing and opening at any time you want.  Or has this changed?  Several years ago I had a break from Halifax RS because the rate was too low, it was very simple - I just closed the account.

The T&Cs restrict you, but if you know which buttons to press on your computer you can work around it.
I believe you have to close the associated easy access account before the first anniversary of the Regular Saver if you want to adhere to T&Cs to prevent the Regular Saver from automatically rolling over 

Born2Save_3

Loughborough RS Maturity Experience

My RS matured yesterday,Tuesday. I was advised last week that I could complete the maturity instructions letter I'd received in the post some weeks ago and email a scan to them; no passbook required. I did this late Sunday night and confirmed that it had been received, through the SMTP service I use. I called Monday afternoon and confirmed with a member of staff that the instructions had been received, accepted and was advised that as the deadline for LBS submitting BACS instructions for the day had passed, a CHAPS payment would be made free of charge. I thought there may be a chance of the full amount plus profit into my nominated on Tuesday, but this did not appear. It was the maturity day after all.  Still nothing today, Wednesday, so called this afternoon and told it had been actioned and I could expect by 5pm.  And so it was. Overall, easier to deal with than passbooks and post, and the LBS staff are friendly and helpful. Was my first maturity process with LBS, so more chasing than I would have liked.  A pity though that I could not roll over into another RS or renew. Some you can, some you can't; the pursuit continues...

HTH

Born2Save_3

Hanley Economic BS 1 Year Branch Smart Saver

Has anyone had any luck opening the branch account by way of a postal application or without visiting a banch ?

Born2Save_3

Hinckley & Rugby BS Christmas Saver 30 Day Notice

I tried emailing them a scan of my application and got a fast response but no can do. Their response stated "we are still very traditional with our processes".   So I need to find a suitable envelope now or repurpose another and some 2nd class Xmas stamps from 1972; or can I still do that ?

allegro120

Born2Save_3 said:

Loughborough RS Maturity Experience

My RS matured yesterday,Tuesday. I was advised last week that I could complete the maturity instructions letter I'd received in the post some weeks ago and email a scan to them; no passbook required. I did this late Sunday night and confirmed that it had been received, through the SMTP service I use. I called Monday afternoon and confirmed with a member of staff that the instructions had been received, accepted and that as the deadline for LBS submitting BACS instructions for the day had passed, a CHAPS payment would be made free of charge. I thought there may be a chance of the full amount plus profit into my nominated on Tuesday, but this did not appear. It was the maturity day after all.  Still nothing today, Wednesday, so called this afternoon and told it had been actioned and I could expect by 5pm.  And so it was. Overall, easier to deal with than passbooks and post, and the LBS staff are friendly and helpful. Was my first maturity process with LBS, so more chasing than I would have liked.  A pity though that I could not roll over into another RS or renew. Some you can, some you can't; the pursuit continues...

HTH

That's good news!  Back in September 2024 I was told in branch that the only free option is the cheque. 

allegro120

surreysaver said:

allegro120 said:

Kim_13 said:

allegro120 said:

janusd said:

Kim_13 said:

Chaykin said:

Kim_13 said:

If you manually open a new RS, you can pay into the old one and the new one in the same month, as the new account number means they are considered different accounts.

Halifax - I thought you can only have one Regular Saver with them? Or is this something they don't enforce and, in actual fact, you can open more than one?

You can only have one, but if you close the Everyday Saver and re-open a new RS manually when it matures, the maturing and new RS can both have £250 paid into in the same month. If your Regular Saver is autorenewed, you are limited to £250 between the two.

while the Halifax RS is being discussed, my first RS with them matures on the 1st December (£3k balance). I received a letter from them asking what I want to do with the Everyday Saver (which obviously also expires on 1st December) - renew for 12 months, move (£0 balance so irrelevant) or close... if I do nothing, it converts to an Instant Saver on the 2nd.
I get that the RS auto-renews, but what do I do about this Everyday account? should I close it now or let the RS balance transfer to it at maturity? The Halifax RS page says to keep it open... any guidance would be appreciated.

I don’t close instant saver, just withdraw the balance. Cant see any point in complicating things. 

If the rate changes and you no longer want to renew, then doing nothing would complicate things (because the autorenewal will go ahead and you would have to use a workaround in order to be able to open another RS; get it wrong and you will be blocked from opening another until the 12 month anniversary of the autorenewed account.) 

Unlike Lloyds and BoS, Halifax doesn't restrict you from closing and opening at any time you want.  Or has this changed?  Several years ago I had a break from Halifax RS because the rate was too low, it was very simple - I just closed the account.

The T&Cs restrict you, but if you know which buttons to press on your computer you can work around it.
I believe you have to close the associated easy access account before the first anniversary of the Regular Saver if you want to adhere to T&Cs to prevent the Regular Saver from automatically rolling over 

Yes, I've done it with Lloyds when the rate went up, but still consider it as a restriction.  Most savers wouldn't have a clue how to refresh, it's not obvious.