The Top Regular Savers Discussion Thread

Pickledonionlover

https://forums.moneysavingexpert.com/discussion/comment/81923289#Comment_81923289

Appreciate this.

RS1 which many of us will have a placeholder (but won't be paying into) also stays at 2.05%

These reductions (on top of the ones for the last BoE rate reduction) are a surprise to me considering the likelihood of another BoE rate reduction in the near future.

Bridlington1

https://forums.moneysavingexpert.com/discussion/comment/81923377#Comment_81923377

No need to apologise, how many regular savers one has and whether it's worth having this many is well within the scope of this thread so I've no objections to people discussing it here, in fact I prefer such discussion here than in the other thread if the truth be known. My stance on the matter remains unchanged from the last time it was mentioned.

Like yourself though there's the hobby element involved in my case, though I can confess my RS collection has slipped under 50 for the first time in a while, largely due to bleeding many of my lower rate RSs dry.

Bridlington1

https://forums.moneysavingexpert.com/discussion/comment/81913635#Comment_81913635

Further to the above, Penrith have provided this response to my complaint, thus for anyone with the NLA Penrith BS Regular Saver 300 account, they are allowing early closure without penalty:

Dear Bridlington1

Thank you for bringing your issue to our attention through PBS Online. Now that we have fully investigated the background of your complaint, I wanted to let you know the position of Penrith Building Society in relation to the problem you had raised.

We received your message on Tuesday, 3 March, via our secure messaging service regarding the response you were given about closing your Regular Saver 300 Account. You had written to us requesting the closure of both your Instant Access Shares Account and your Regular Saver 300 Account. Your Instant Access Account was closed promptly; however, you were subsequently informed that the Regular Saver 300 Account could not be closed until its maturity date later in the year. This led you to contact us through our online portal to address your concerns.

Upon reviewing the Key Product Information available at the time your Regular Saver 300 Account was opened, we noted that while the account was described as a fixed-term product, the documentation did not clearly state that closure prior to maturity was not permitted. The only reference provided related to the requirement to maintain a minimum balance of £100. Although early closure may not have been intended as a product term, we recognise that this was not clearly communicated in the documentation provided to you.

In light of this, we contacted our Savings Team and authorised the release and closure of your Regular Saver 300 Account, which was completed on 6 March. We have also recorded the concerns you raised to ensure our future product terms are clearer and to prevent similar issues from arising again.

At the time of writing, your Limited Access e-Saver Issue 2 account remains open. We value your custom and hope to continue supporting you in the future.

This constitutes our final response. You have the right to refer your complaint to the Financial Ombudsman Service, free of charge – but you must do so within six months of the date of this letter.

masonic

https://forums.moneysavingexpert.com/discussion/comment/81923373#Comment_81923373

I'm hoping (perhaps naively) that as I have the option to use funds from my S&S ISA rather than my savings, and intend to do just that, I'll be able to keep the scope narrow and avoid the circus of money flowing around 25+ other accounts, which I don't intend to use for this transaction. I'll find out over the next few days if what I've provided so far (statements relating to this investment account and evidence of income) are sufficient or not.

But while thinking about this, it dawned on me that I'd have been much better off using a secondary current account as the hub for my RS activity and run it on sort of a closed loop where my "float" of funding cash was occasionally topped up or reduced, but otherwise the flow would be independent of my main current account. I'd then have had a much more normal looking current account showing regular deposits of income etc, and a much more manageable pattern of transactions "to/from savings".

But as I've seen said elsewhere, life is never simple, and I've been proactively building up my library of statements from those accounts it is easy to obtain them from. I will not have a complete record, but hopefully I will have enough without too much back and forth.

nomorekids

I must say I m normally of the opinion that we are in a lesser financial worth than most on here but these last few pages have been making me think we are all in the same boat, raiding the lesser paid regulars, as are we, in favour of feeding our ISA's before the end of the tax year. For those house buying, I feel for you, we once had to provide like a decades worth of monthly Norwich and Peterborough statements all showing a £250 a month entry for each of us to prove to our solicitor we hadn't used up the one withdrawal allowed, the postage cost several quid I recall 😶

soulsaver

Just a couple of bits of info:

@Bridlington1 Customisable PDF statements are also available from Santander.

@clairec666 Principality recently sent me a requested statement by email, so maybe just unlucky with their CS?.

clairec666

https://forums.moneysavingexpert.com/discussion/comment/81923724#Comment_81923724

To be fair to Principality, I hadn't noticed the "request a statement" option in online banking, so sent a secure message, and I didn't specify that I wanted it in digital form. And they can't be expected to know the slow rate of postal service in my area!

Dizzycap

Market Harborough BS

Maturity Instructions available for MHBS RS maturing at the end of March 31/03 - No email or text message sent advising that maturity options are now available; as pitiful as they are.

happybagger

https://forums.moneysavingexpert.com/discussion/comment/81924373#Comment_81924373

indeed they are, and many of the bonds have a MOB of £5k anyway. I'll close, and open the branch RS next time I'm over that way.

dingling68

Renewing Regular Savers ahead of tax year end

As part of my year end tax planning, I am looking at the regular savers that I can renew to bring forward the maturity date to within the next tax year.

I have renewed Halifax - is the Bank of Scotland the same process? I have only recently opened this one.

Thanks all for the many pearls of wisdom I pick up from the hard work @Bridlington1 puts in to this thread and that you all share 😊