The Top Regular Savers Discussion Thread

spreadsheeterapple

Market Harborough BS

We have our regular savers maturing Monday; I assumed it would be Monday because maturity listed as 30 Nov but Sunday obviously a non-working day. But logged in yesterday to find no options listed next to account as per guide saying to click "setup maturity instruction', so we weren't able to. But we've then noticed they have already closed and the account is marked 'Save and Support'.
- I'm a little confused if that is because I told them about disability support needed and hence they have transferred to another department to correspond with me, otherwise it seems a strange name for an actual account if they have already made it easy-access ready for maturity.
- Also, clicking around screens I found interest figures for a 'closed' account, however surely it should still have been accruing interest until Sunday night, as the account isn't 'baked' yet, i.e. it hasn't come to its end of term until 30th November.

I think they might have matured it and closed it early, and my needing hearing support & the word support being on the account line is a red herring?
- previous savers might be able to tell me if what I'm seeing IS the maturity account, the easy-access it would convert to by default. If so, does anybody know if this is now going to be tricky to close via online? I searched but couldn't see its T&C. Travel to Kettering for a branch withdrawal or opening our next regular saver isn't at all easy for us; they haven't brought out any new online accounts to follow on, so we're giving up on this firm and will have to close. We really didn't want to have to do that in-branch or by post.

TheWoodler

Hopefully the information that the name of the easy access account is actually ‘Save and Support’ will put your mind at rest. It’s one of those accounts that building societies use to support charities, as per terms and conditions - and not to do with your request for support. 

https://mhbs.co.uk/document/p1/

It doesn’t say anything about how to close the account but withdrawals can be made accessibly online so I would imagine full withdrawal would trigger closure, or you can retain membership for £1 with this account.

Kim_13

spreadsheeterapple said:

Market Harborough BS

We have our regular savers maturing Monday; I assumed it would be Monday because maturity listed as 30 Nov but Sunday obviously a non-working day. But logged in yesterday to find no options listed next to account as per guide saying to click "setup maturity instruction', so we weren't able to. But we've then noticed they have already closed and the account is marked 'Save and Support'.
- I'm a little confused if that is because I told them about disability support needed and hence they have transferred to another department to correspond with me, otherwise it seems a strange name for an actual account if they have already made it easy-access ready for maturity.
- Also, clicking around screens I found interest figures for a 'closed' account, however surely it should still have been accruing interest until Sunday night, as the account isn't 'baked' yet, i.e. it hasn't come to its end of term until 30th November.

I think they might have matured it and closed it early, and my needing hearing support & the word support being on the account line is a red herring?
- previous savers might be able to tell me if what I'm seeing IS the maturity account, the easy-access it would convert to by default. If so, does anybody know if this is now going to be tricky to close via online? I searched but couldn't see its T&C. Travel to Kettering for a branch withdrawal or opening our next regular saver isn't at all easy for us; they haven't brought out any new online accounts to follow on, so we're giving up on this firm and will have to close. We really didn't want to have to do that in-branch or by post.

If I recall the maturity info advised that instructions had to be received by 5pm on Friday, so I wonder if BACS payments have been initiated to land on Monday? Mine is showing as closed on 30/11/25, so I assume they have included interest up to that date.

Digging around in the account history, I have found my interest for this tax year listed as £106.80 (RS was not fully funded.)

Save and Support is an Easy Access account paying 1% that was the default option if no instructions were received. It's named as such as they will make a charitable donation calculated with reference to the balances of all such accounts. I elected to leave £1 in this account to retain membership and it is showing as such. Not particularly great that the other £2,600+ isn't showing anywhere at the moment...

ChewyyBacca

I can see my Mkt Har BS RS acct morphed into 'Save & Support' acc. It does not show any transaction details nor interest details.
Either thats how it will be or since the acct will mature on 30 Nov 25, thats tomorrow, just the entry has changed but the process is still pending?

I have checked the Save & Support leaflet. Min balance is £1+ for int rate 1%
Also says No interest is paid on blanaces that fall below the minimum of £1+

I m thinking I will transfer out all but £0.01 to retain online access. Nowhere it mentions if acct falls below their min they will close it, so Im assuming it will be okay.
Thoughts?

WindfallWendy

I um'd and ah'd with MktHarborough and nearly opened a fixed bond account, but ended up instructing to close. I find the platforms building societies use is really clunky and often the rates aren't outstanding (unlike current account RS e.g. First Direct or Lloyds Club). 

I'd love to get my hands on a 7% Progressive one though, but with my 5.5% one, I can't set one up. 

But I must rationalise, and try and keep my interest below £1000 in 26/27 and get a SIPP instead. I'll hold on to my current accounts with preferential rates, and will probably play with Principality too (as my official local, and actually one of the better ones!), but will try and avoid others grabbing my attention.

friolento

I can't see my Mkt Harb RS any longer. There is £1 in the Save & Support account. I have a note to myself saying I gave maturity instructions on November 14 - but stupidly I didn't note what my instructions were..... I think I must have asked for payment to my current account, and may be I did ask for £1 to be kept in a Mkt Harb account to maintain access.....

I hope to get my matured funds on Monday. The maturity option letter states The instruction you provide for your account will be completed and any funds released by 5.00pm the latest on 1 December 2025