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

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  • subjecttocontract
    subjecttocontract Posts: 2,905 Forumite
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    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 ?
  • Bobblehat
    Bobblehat Posts: 889 Forumite
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    edited Today at 2:27PM
    How are folks assessing returns, is the figure based just on the RS returns or does the figure include interest from the feeder account as well?
    I left out any EA returns and summed up the calculated interest at maturity. Included in the calculation is the extra interest generated by 13 (or more) payments and factors in my strategy (where appropriate) of opening late in the calendar month, funding immediately and then funding as soon in the next month as allowed!

    edit: I must check that I added in Mrs Bobblehat's contribution!

    edit: I did!
  • Bobblehat
    Bobblehat Posts: 889 Forumite
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    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 ?
    1 & 2 ... I would say they do count because, as you say, you could contribute to them!

    3 ... if you've moved the proceeds out of a matured account, or all but a nominal small amount, then I'd say no. If you've left the proceeds in, then I would say yes, as that is where you are still holding the money even though it's matured. Just my opinion ... others might think differently!

    I'll update your entry, if you provide the new figures  :)


  • Bobblehat
    Bobblehat Posts: 889 Forumite
    Eighth Anniversary 500 Posts I've been Money Tipped! Name Dropper
    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?
  • masonic
    masonic Posts: 27,754 Forumite
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    Bobblehat 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
    subjecttocontract Posts: 2,905 Forumite
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    Bobblehat 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
    subjecttocontract Posts: 2,905 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    masonic said:
    Bobblehat 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
    allegro120 Posts: 2,080 Forumite
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    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
    masonic Posts: 27,754 Forumite
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    edited Today at 4:34PM
    masonic said:
    Bobblehat 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
    Kim_13 Posts: 3,615 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper Photogenic
    masonic said:
    masonic said:
    Bobblehat 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.
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