Can I close Regular Savings Account

waterman10

I've got a Zopa regular savings account earning 7.1% and a Zopa current account.  I don't actually use the current account but it was a requirement for getting the regular saver. 

I'm trying to simplify my life a bit and wondered if I can close the accounts down even though I only opened them 5 months ago?  Or can you only close the regular saver after a year?  I get my interest monthly. 

Any help would be much appreciated.

friolento

Yes you can close both these accounts any time you like. Or just let them sit with a £0 balance.

waterman10

Thanks.  I've also got a First Direct regular saver earning 7% that I opened about 7 months ago.  Interest is paid annually on that one.

Can I close that one as well?

surreysaver

waterman10 said:

Thanks.  I've also got a First Direct regular saver earning 7% that I opened about 7 months ago.  Interest is paid annually on that one.

Can I close that one as well?

You can, but if you do they'll bust the interest down to around 1%, even for the time you've held the account. So unless you actually need the money, I would leave it until the account matures paying in the minimum 

Nasqueron

surreysaver said:

waterman10 said:

Thanks.  I've also got a First Direct regular saver earning 7% that I opened about 7 months ago.  Interest is paid annually on that one.

Can I close that one as well?

You can, but if you do they'll bust the interest down to around 1%, even for the time you've held the account. So unless you actually need the money, I would leave it until the account matures paying in the minimum 

Note also with FD you have to ask their team to change the SO from your account, at least that was the case last time I tried it, you couldn't amend it yourself

waterman10

Ok, i'll just leave that one till the year is up. Thanks very much