Being nosey... How many Regular Saver accounts do you have?

masonic

Bobblehat said:

subjecttocontract said:

1. I've got a 3 year old Halifax reg saver which Halifax seem to think is open, it has a balance of zero, I do not contribute to it but, I guess I could, but wont.....does that count ?

2. I've got a Manchester BS Reg Saver which I don't know why I opened, I have no intention of ever contributing any more to it. Manchester think it's a regular saver account but I'm using it as an easy access account........does that count ?

3. What about any reg saver accounts that have matured but have not been closed (usually because providers don't make closure easy).......technically those accounts are still open......do they count ?

Does the 3 year old Halifax account still show as an RS or has it been converted to an Instant Saver or similar?

The Halifax RS just empties into a separate saver and rolls over for another year.

subjecttocontract

Bobblehat said:

subjecttocontract said:

1. I've got a 3 year old Halifax reg saver which Halifax seem to think is open, it has a balance of zero, I do not contribute to it but, I guess I could, but wont.....does that count ?

2. I've got a Manchester BS Reg Saver which I don't know why I opened, I have no intention of ever contributing any more to it. Manchester think it's a regular saver account but I'm using it as an easy access account........does that count ?

3. What about any reg saver accounts that have matured but have not been closed (usually because providers don't make closure easy).......technically those accounts are still open......do they count ?

Does the 3 year old Halifax account still show as an RS or has it been converted to an Instant Saver or similar?

When I log into my Halifax accounts this is showing as a reg saver with zero balance. Got the date wrong.....I opened it in March 2024..

subjecttocontract

masonic said:

Bobblehat said:

subjecttocontract said:

1. I've got a 3 year old Halifax reg saver which Halifax seem to think is open, it has a balance of zero, I do not contribute to it but, I guess I could, but wont.....does that count ?

2. I've got a Manchester BS Reg Saver which I don't know why I opened, I have no intention of ever contributing any more to it. Manchester think it's a regular saver account but I'm using it as an easy access account........does that count ?

3. What about any reg saver accounts that have matured but have not been closed (usually because providers don't make closure easy).......technically those accounts are still open......do they count ?

Does the 3 year old Halifax account still show as an RS or has it been converted to an Instant Saver or similar?

The Halifax RS just empties into a separate saver and rolls over for another year.

This one hasnt. It's still showing as a reg saver.

allegro120

Bobblehat said:

With a little flurry of new contributors, time for an update.

Brie now has company in the relegation zone 

My total deposit into RS in September was £14570.  Calculating the current value is too much of a task for me as I don't record this in my spreadsheet. I don't know what my up to date RS return is, I've been using regular savers for over 20 years,  so it must be a substantial amount.

masonic

subjecttocontract said:

masonic said:

Bobblehat said:

subjecttocontract said:

1. I've got a 3 year old Halifax reg saver which Halifax seem to think is open, it has a balance of zero, I do not contribute to it but, I guess I could, but wont.....does that count ?

2. I've got a Manchester BS Reg Saver which I don't know why I opened, I have no intention of ever contributing any more to it. Manchester think it's a regular saver account but I'm using it as an easy access account........does that count ?

3. What about any reg saver accounts that have matured but have not been closed (usually because providers don't make closure easy).......technically those accounts are still open......do they count ?

Does the 3 year old Halifax account still show as an RS or has it been converted to an Instant Saver or similar?

The Halifax RS just empties into a separate saver and rolls over for another year.

This one hasnt. It's still showing as a reg saver.

If it is still showing as a regular saver, and it has been open for more than a year, then it has emptied into a separate saver and rolled over for another year. It may be the case that the balance that it spat out at the end of the 12 month term was zero if you opened it and never funded it. For most people, there will at least be some interest at the end of the 12 months that will be paid out before the account resets. It is not an account where the 12 month term starts when you first fund it, so you need to be aware that it has already been through one maturity, and will mature again each March until you close or upgrade it to a different type of account.

Kim_13

masonic said:

subjecttocontract said:

masonic said:

Bobblehat said:

subjecttocontract said:

1. I've got a 3 year old Halifax reg saver which Halifax seem to think is open, it has a balance of zero, I do not contribute to it but, I guess I could, but wont.....does that count ?

2. I've got a Manchester BS Reg Saver which I don't know why I opened, I have no intention of ever contributing any more to it. Manchester think it's a regular saver account but I'm using it as an easy access account........does that count ?

3. What about any reg saver accounts that have matured but have not been closed (usually because providers don't make closure easy).......technically those accounts are still open......do they count ?

Does the 3 year old Halifax account still show as an RS or has it been converted to an Instant Saver or similar?

The Halifax RS just empties into a separate saver and rolls over for another year.

This one hasnt. It's still showing as a reg saver.

If it is still showing as a regular saver, and it has been open for more than a year, then it has emptied into a separate saver and rolled over for another year. It may be the case that the balance that it spat out at the end of the 12 month term was zero if you opened it and never funded it. For most people, there will at least be some interest at the end of the 12 months that will be paid out before the account resets. It is not an account where the 12 month term starts when you first fund it, so you need to be aware that it has already been through one maturity, and will mature again each March until you close or upgrade it to a different type of account.

Exactly this. The only way to stop a rollover is to close any Easy Savers or similarly named accounts, so that there is nowhere for the account to spit out the proceeds to - then Halifax convert the Regular Saver to an EA instead and you can reopen a new RS manually at a time that works best for you.

Bobblehat

Kim_13 said:

masonic said:

subjecttocontract said:

masonic said:

Bobblehat said:

subjecttocontract said:

1. I've got a 3 year old Halifax reg saver which Halifax seem to think is open, it has a balance of zero, I do not contribute to it but, I guess I could, but wont.....does that count ?

2. I've got a Manchester BS Reg Saver which I don't know why I opened, I have no intention of ever contributing any more to it. Manchester think it's a regular saver account but I'm using it as an easy access account........does that count ?

3. What about any reg saver accounts that have matured but have not been closed (usually because providers don't make closure easy).......technically those accounts are still open......do they count ?

Does the 3 year old Halifax account still show as an RS or has it been converted to an Instant Saver or similar?

The Halifax RS just empties into a separate saver and rolls over for another year.

This one hasnt. It's still showing as a reg saver.

If it is still showing as a regular saver, and it has been open for more than a year, then it has emptied into a separate saver and rolled over for another year. It may be the case that the balance that it spat out at the end of the 12 month term was zero if you opened it and never funded it. For most people, there will at least be some interest at the end of the 12 months that will be paid out before the account resets. It is not an account where the 12 month term starts when you first fund it, so you need to be aware that it has already been through one maturity, and will mature again each March until you close or upgrade it to a different type of account.

Exactly this. The only way to stop a rollover is to close any Easy Savers or similarly named accounts, so that there is nowhere for the account to spit out the proceeds to - then Halifax convert the Regular Saver to an EA instead and you can reopen a new RS manually at a time that works best for you.

Ah! I wondered why I closed my last HX EA ... you've reminded me!

Highlanddream

Are people doing these after they have used their ISA allowance ? I am working out how to save when I have finished paying off debt. I will be able to save approx 1000 a month. I realise it is a while off but keeps me sane! 

Kim_13

Highlanddream said:

Are people doing these after they have used their ISA allowance ? I am working out how to save when I have finished paying off debt. I will be able to save approx 1000 a month. I realise it is a while off but keeps me sane! 

I’ve only used £201 of my ISA allowance. I keep a spreadsheet of my interest and will switch to ISA should it look as though that would result in a higher net return.

Highlanddream

Kim_13 said:

Highlanddream said:

Are people doing these after they have used their ISA allowance ? I am working out how to save when I have finished paying off debt. I will be able to save approx 1000 a month. I realise it is a while off but keeps me sane! 

I’ve only used £201 of my ISA allowance. I keep a spreadsheet of my interest and will switch to ISA should it look as though that would result in a higher net return.

Thanks Kim.