The Top Regular Savers Discussion Thread

Born2Save_3

Eco_Miser said:

mhoc said:

Just logged onto LLoyds and there is a notice that I will soon be able to see my Halifax accounts as well.

How will they manage to merge the 2 - will they do some sort of name and address sweep?
But what happens if you have a different email and/or mobile assigned to your Halifax than your LLoyds? 

I know that they seem to think it will make things somehow easier for customers but for me I like to have things seperate and change often seems like a negative thing. 
Also I am worried whether in the future having both LLoyds regular savers and Halifax regular saver will even be allowed - even though they are all completely different  

As regards the emails, I try to have different email addresses for each bank (and utility etc.) but Lloyds and Halifax change in sync to whatever I last changed. This has been in place for a long time.

It's a concern I have. As organisations consolidate there will be less brands and consequently less RS accounts.  How long will the Halifax and Bank of Scotland brands last for ?  Equally, Nationwide and Virgin Money and Coventry BS and Coop Bank.

I'd prefer to have a specific email address for each of Lloyds, Halifax and BoS. I'll have to settle for LloydsBankingGroup@ now.

I think best to keep each of your logins active and just do BoS stuff in your BoS login and likewise for Halifax and Lloyds.

For mobile numbers, I think they collect all numbers associated with you and give you the option of choosing which one you want to use for a particular transaction.

clairec666

Born2Save_3 said:

Eco_Miser said:

mhoc said:

Just logged onto LLoyds and there is a notice that I will soon be able to see my Halifax accounts as well.

How will they manage to merge the 2 - will they do some sort of name and address sweep?
But what happens if you have a different email and/or mobile assigned to your Halifax than your LLoyds? 

I know that they seem to think it will make things somehow easier for customers but for me I like to have things seperate and change often seems like a negative thing. 
Also I am worried whether in the future having both LLoyds regular savers and Halifax regular saver will even be allowed - even though they are all completely different  

As regards the emails, I try to have different email addresses for each bank (and utility etc.) but Lloyds and Halifax change in sync to whatever I last changed. This has been in place for a long time.

It's a concern I have. As organisations consolidate there will be less brands and consequently less RS accounts.  How long will the Halifax and Bank of Scotland brands last for ?  Equally, Nationwide and Virgin Money and Coventry BS and Coop Bank.

The most important thing is that there's enough competition and choice in the banking market for the general public. People with RS accounts in double figures aren't really the main concern. But yes, it's annoying that Nationwide and Virgin are two of my higher-earning accounts and it's possible that the Virgin one may disappear.

Digging through the FAQs on Virgin's website, there's a lot of information about existing accounts (you'll keep the same account number and sort code, and still use the Virgin Money website or app), but no information about whether they'll continue offering Virgin-branded accounts. I'm assuming not, and they'll gradually wind down the Virgin brand and transfer over existing customers over a longer timescale.

Eco_Miser

clairec666 said:

Born2Save_3 said:

<SNIP>

It's a concern I have. As organisations consolidate there will be less brands and consequently less RS accounts.  How long will the Halifax and Bank of Scotland brands last for ?  Equally, Nationwide and Virgin Money and Coventry BS and Coop Bank.

The most important thing is that there's enough competition and choice in the banking market for the general public. People with RS accounts in double figures aren't really the main concern. But yes, it's annoying that Nationwide and Virgin are two of my higher-earning accounts and it's possible that the Virgin one may disappear.

Digging through the FAQs on Virgin's website, there's a lot of information about existing accounts (you'll keep the same account number and sort code, and still use the Virgin Money website or app), but no information about whether they'll continue offering Virgin-branded accounts. I'm assuming not, and they'll gradually wind down the Virgin brand and transfer over existing customers over a longer timescale.

The Virgin brand is definitely going, that was announced at the merger, but I was originally expecting Clydesdale Bank plc to continue as a separate, wholly owned, entity, for those who wanted or needed a bank rather than a building society. That's not going to happen, rather everyone joins Nationwide in April 2026. I imagine it's going to take much longer to merge or migrate platforms. I suspect that they will be offering Virgin branded accounts for as long as they have Virgin branded branches, but once the brand has gone, there'll  only be one Nationwide RS available.

Incidentally, my Nationwide and Virgin (ex Yorkshire) branches are opposite each other, with Halifax next door and Lloyds a bit further down the road. With current consolidations I wonder which will survive.

Eco_Miser

s71hj said:

Eco_Miser said:

allegro120 said:

Eco_Miser said:

mhoc said:

Just logged onto LLoyds and there is a notice that I will soon be able to see my Halifax accounts as well.

How will they manage to merge the 2 - will they do some sort of name and address sweep?
But what happens if you have a different email and/or mobile assigned to your Halifax than your LLoyds? 

I know that they seem to think it will make things somehow easier for customers but for me I like to have things seperate and change often seems like a negative thing. 
Also I am worried whether in the future having both LLoyds regular savers and Halifax regular saver will even be allowed - even though they are all completely different  

As regards the emails, I try to have different email addresses for each bank (and utility etc.) but Lloyds and Halifax change in sync to whatever I last changed. This has been in place for a long time.

Wow! If I did that I would have to manage 65 e-mail addresses

They all redirect to the one mailbox, and the whole thing comes as part of a web hosting package.

I sort of understood as far as"a"... 

Born2Save_3 said it better: https://forums.moneysavingexpert.com/discussion/comment/81759241/#Comment_81759241

Kim_13

clairec666 said:

Born2Save_3 said:

Eco_Miser said:

mhoc said:

Just logged onto LLoyds and there is a notice that I will soon be able to see my Halifax accounts as well.

How will they manage to merge the 2 - will they do some sort of name and address sweep?
But what happens if you have a different email and/or mobile assigned to your Halifax than your LLoyds? 

I know that they seem to think it will make things somehow easier for customers but for me I like to have things seperate and change often seems like a negative thing. 
Also I am worried whether in the future having both LLoyds regular savers and Halifax regular saver will even be allowed - even though they are all completely different  

As regards the emails, I try to have different email addresses for each bank (and utility etc.) but Lloyds and Halifax change in sync to whatever I last changed. This has been in place for a long time.

It's a concern I have. As organisations consolidate there will be less brands and consequently less RS accounts.  How long will the Halifax and Bank of Scotland brands last for ?  Equally, Nationwide and Virgin Money and Coventry BS and Coop Bank.

The most important thing is that there's enough competition and choice in the banking market for the general public. People with RS accounts in double figures aren't really the main concern. But yes, it's annoying that Nationwide and Virgin are two of my higher-earning accounts and it's possible that the Virgin one may disappear.

Digging through the FAQs on Virgin's website, there's a lot of information about existing accounts (you'll keep the same account number and sort code, and still use the Virgin Money website or app), but no information about whether they'll continue offering Virgin-branded accounts. I'm assuming not, and they'll gradually wind down the Virgin brand and transfer over existing customers over a longer timescale.

Especially as it is the Virgin one that is going, and the Virgin one that has better RS terms (£50 per month extra and fixed rate.) It's just not as consistently available as Nationwide's offering.

s71hj

Happened to be Market Harborough so popped in and opened the branch 5.8% RS. My current one matures Sunday. Am I correct I can't fund the new one until after the old one matures on Sunday? 

flaneurs_lobster

s71hj said:

Happened to be Market Harborough so popped in and opened the branch 5.8% RS. My current one matures Sunday. Am I correct I can't fund the new one until after the old one matures on Sunday? 

You were in the branch, you opened the account, they didn't ask if you wanted to add funds and you didn't ask if you could?

s71hj

flaneurs_lobster said:

s71hj said:

Happened to be Market Harborough so popped in and opened the branch 5.8% RS. My current one matures Sunday. Am I correct I can't fund the new one until after the old one matures on Sunday? 

You were in the branch, you opened the account, they didn't ask if you wanted to add funds and you didn't ask if you could?

I did and he said I could and I said I thought it might not be allowed and he said I was right and he seemed uncertain about that and various things. It was hard to hear him through the screen. We were pushed for time and just glad to get it opened, but only just in the time we had available. We won't be here again before Christmas and I know people on here would give a much more reliable answer. 

Kim_13

s71hj said:

flaneurs_lobster said:

s71hj said:

Happened to be Market Harborough so popped in and opened the branch 5.8% RS. My current one matures Sunday. Am I correct I can't fund the new one until after the old one matures on Sunday? 

You were in the branch, you opened the account, they didn't ask if you wanted to add funds and you didn't ask if you could?

I did and he said I could and I said I thought it might not be allowed and he said I was right and he seemed uncertain about that and various things. It was hard to hear him through the screen. We were pushed for time and just glad to get it opened, but only just in the time we had available. We won't be here again before Christmas and I know people on here would give a much more reliable answer. 

By the letter of their terms it would depend on if and by how much you had funded your current one this month? If you had funded the current one £250 you would have to wait until December, but if you had only funded £10 you could do £240. 

In reality you could probably do the full £250 now regardless, as the other will have matured by the time they would get around to asking which account you want the excess contribution to be removed from. 

happybagger

s71hj said:

Happened to be Market Harborough so popped in and opened the branch 5.8% RS. My current one matures Sunday. Am I correct I can't fund the new one until after the old one matures on Sunday? 

As I read it:
You can deposit £250 max p/m in one or both accounts - so if you've put in 250 in the maturing one, no you can't put any in the new.
If your balance in the maturing account is £3250 then you can't deposit in the new one until the old one matures.
If it's under £3250 you can, as long as the two together don't exceed £3250.