The Top Regular Savers Discussion Thread

clairec666

https://forums.moneysavingexpert.com/discussion/comment/81916122#Comment_81916122

Darlington

I withdrew to Natwest a few days ago and it worked fine - money was received the following working day.

In case it makes any difference, I didn't withdraw all, I left about £10 in there.

wmb194

https://forums.moneysavingexpert.com/discussion/comment/81916150#Comment_81916150

Co-op RS
I applied via the phone app: see the 'products' tab at the bottom on the home page.

Dizzycap

https://forums.moneysavingexpert.com/discussion/comment/81916122#Comment_81916122

No issues with withdrawing from Darlington to Lloyds; so assuming Bank of Scotland & Halifax would also be fine.

janusd

Re: Hanley RS - email received today…

Dear Saver

Interest Rate Change Notification – February 2026

I am writing to apologise that we did not give you the required notice before reducing the interest rate on your Smart Saver account on 1 February 2026.

What went wrong?

Under our Terms and Conditions, we should have provided  at least 14 days’ notice before making any reduction to the interest rate. On this occasion, we did not meet this requirement. We recognise this may have affected your opportunity to consider alternative options, and we would like to put this right.

How we have put this right

To make amends, we will credit your account on 17 March 2026 with an amount equivalent to 14 days’ interest. This reflects the notice period you should have received.

How the amount was calculated:

£1,200.00 your balance as of 31 January 2026 multiplied by 0.20% (The difference between the interest rate paid up to 31 January 2026 and the new interest rate from 1 February 2026) divided by 365 days

In addition, we have applied a further 4.75% simple interest to the amount as a gesture of goodwill to recognise our error and any inconvenience caused.

The total amount credited to your account is £0.09.

This amount will remain in your account and will earn interest in line with the account rate.

We have corrected the issue and reviewed our processes to help ensure this does not happen again. If you believe the amount does not reflect your circumstances, please contact us and we will review it.

Our current interest rates can be viewed on our website at https://www.thehanley.co.uk/savings-rates

obviously, your balances and interest credited may be different than above.

shirley999

Hanley are allegedly making good for the lack of notice of the recent drop in interest rate from 6.5% to 6.3% for all affected members. '14 days notice' as per their t&cs was provided by email on 4th February following the reduction on 1st February, so the adjustment should be for the period 1st-18th February. Not a vast amount but they added 4.75% as a goodwill gesture for me bringing it to their attention, which equates to… £0.00!

This should be based on your balance on 1st-18th February, not 31st January.

The interest adjustment will likely be in the region of 20p.

Zero goodwill!

Nuggy96

https://forums.moneysavingexpert.com/discussion/comment/81917445#Comment_81917445

Yeah, I complained and going to FOS as that's not a fair or reasonable solution 4.5% of 9p, that's mickey taking

Kim_13

Further complaints incoming about how this 'amount' is presumably being reported as interest, therefore resulting in those with busted PSAs paying tax when if the interest was paid as it should have been in 26/27, it wouldn't have been taxed? Realistically only those that are pence under the higher rate tax threshold (or Winter Fuel threshold) and go over should complain, as the effect is not a few pence, but this is MSE...

KneadtheDough

https://forums.moneysavingexpert.com/discussion/comment/81917428#Comment_81917428

Hanley

Yes, received the same — after complaining to them about the lack of fair notice. Off now to determine how I can spend that 9p!

shirley999

https://forums.moneysavingexpert.com/discussion/comment/81917502#Comment_81917502

How much will that cost them? ...£475 if they have more than 3 complaints in a year against them. The temptation is there.

masonic

It seems like the solution that is fair and fulfil's the Consumer Duty is to postpone the rate change so that it takes effect from 1st April, using the extra week this gives them to ensure all customers are notified in line with the T&Cs. The rate change was contractually unsound and should be null and void until valid notice is served.