The Top Regular Savers Discussion Thread

twadds123

flaneurs_lobster said:

RBS (and I assume NatWest) Digital RS

Apologies if this is common knowledge but just noticed that the round-up function can now be adjusted between x1 and x5 (used to be 1 or 2x). 

ooh nice, wonder if they would be more aware of the paypal 1p trick now or not,  potentially a way to get a decent amount in quickly

Stargunner

I have in excess of 30 regular savers and the majority of them mature in the latter part of the year. I would like to try to refresh some of them, so that they are more evenly spread throughout the year.
To save me going through all the T&C's, could anyone please advise what ones can be closed and then re-opened without penalty, 

WillPS

Stargunner said:

I have in excess of 30 regular savers and the majority of them mature in the latter part of the year. I would like to try to refresh some of them, so that they are more evenly spread throughout the year.
To save me going through all the T&C's, could anyone please advise what ones can be closed and then re-opened without penalty, 

Depends which you have. NLA accounts cannot be refreshed and those with interest rates which have fallen are also presumably out of scope.

I've refreshed Lloyds, Halifax and Bank of Scotland several times. I wouldn't do these all at once because LBG seem to take a very dim view of these flurries of account opening activities. 

I've also refreshed a Principality BS 6 month saver (although I would advise calling to do this as the online flow doesn't immediately close the account; calling does).

Nationwide is also possible but you'll need to wait until the next day before their application system will accept a new application.

Also read that Skipton and Coventry are very easy to refresh online but I've no personal experience of that yet.

Finally there are some providers who require passbook and instructions by post - Mansfield and Monmouthshire to name a couple. Melton might be another, as might Saffron - as a rule of thumb any account where a passbook was issued at distance. Of these three Mansfield is the only one with an account possibly worth even considering presently; you can request an application pack for a new account online which will at least cover the postage.

Speculator

Stargunner said:

I have in excess of 30 regular savers and the majority of them mature in the latter part of the year. I would like to try to refresh some of them, so that they are more evenly spread throughout the year.
To save me going through all the T&C's, could anyone please advise what ones can be closed and then re-opened without penalty, 

Renew and reopen the following. Halifax, Lloyds club monthly, lloyds monthly.

Strictly speaking, you can't reopen both the Lloyds according to T&Cs but the system allows it.

Stargunner

Thanks for your replies WillPS & Speculator. I have the majority of those, so i will refresh some over the next few months.

s71hj

gt94sss2 said:

Speculator said:

Do Chase process standing orders on a Saturday? All my standing orders go out via Santander and they are all due to go out on Monday.

Yes. Both Chase and Monzo don't follow standard banking practice and send "standing orders" on non working days.

How about Kroo?

kamkop

s71hj said:

gt94sss2 said:

Yes. Both Chase and Monzo don't follow standard banking practice and send "standing orders" on non working days.

How about Kroo?

As Chase and Monzo sends SO on non-working days

simonsmithsays

Stargunner said:

I have in excess of 30 regular savers and the majority of them mature in the latter part of the year. I would like to try to refresh some of them, so that they are more evenly spread throughout the year.
To save me going through all the T&C's, could anyone please advise what ones can be closed and then re-opened without penalty, 

No offence but wouldn't this thread run a little better if you took a little time to list the ones you've got so helpful forumites have a place to start and aren't wasting time?

Stargunner

simonsmithsays said:

Stargunner said:

I have in excess of 30 regular savers and the majority of them mature in the latter part of the year. I would like to try to refresh some of them, so that they are more evenly spread throughout the year.
To save me going through all the T&C's, could anyone please advise what ones can be closed and then re-opened without penalty, 

No offence but wouldn't this thread run a little better if you took a little time to list the ones you've got so helpful forumites have a place to start and aren't wasting time?

I didn't list them all, because I said that I had over 30, and I probably have all the highest paying ones. If I had of had a handful I would have listed them.  The 2 forumites that kindly replied gave me all the info that I needed, thank you.

simonsmithsays

Stargunner said:

simonsmithsays said:

Stargunner said:

I have in excess of 30 regular savers and the majority of them mature in the latter part of the year. I would like to try to refresh some of them, so that they are more evenly spread throughout the year.
To save me going through all the T&C's, could anyone please advise what ones can be closed and then re-opened without penalty, 

No offence but wouldn't this thread run a little better if you took a little time to list the ones you've got so helpful forumites have a place to start and aren't wasting time?

I didn't list them all, because I said that I had over 30, and I probably have all the highest paying ones. If I had of had a handful I would have listed them.  The 2 forumites that kindly replied gave me all the info that I needed, thank you.

Am glad you're sorted.

It read to me that you didn't have time to read the T-Cs and neither didn't have time to list the 30ish RS and were expecting others to take the time and punt on which you had as I didn't see any reference to you having all the highest paying ones in your OP.

For what it's worth I have a spreadsheet with my RS on with a column for bits like this (as we all forget and a lot of these RS are just rinse and repeat T&C's each year).  I couldn't manage without said SS as I've got almost 100 RS.

It matters not though - as I say, am glad, you're sorted.