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The Top Regular Savers Discussion Thread
Comments
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On Edge after clicking on the relevant account, then "Transactions", "Close Account" appears on the left hand side for me. hth (Monmouth)
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When you're logged on, click details next to the account and then you'll see account closure after clicking on the menu button.
It's not the easiest design!
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I cannot see a 'menu' button
I consider myself to be a male feminist. Is that allowed?0 -
Definitely cannot see the option to close the account anywhere!
I consider myself to be a male feminist. Is that allowed?0 -
Monmouthshire closure
Found the account closure button - I had already requested a transfer, which prevented the closure button from being displayed. Cancelled the transfer, and the closure button appeared!
I consider myself to be a male feminist. Is that allowed?1 -
Very few new RS lately - and none can be applied for online :/
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Finally got my notification letters from Loughborough today (2x for Super Saver and Holiday Monthly). Both are dated the 13th so it's taken 11 days to arrive by post, assuming they weren't backdated of course! I fully fund both but even so I reckon this rate cut exercise has probably cost them more than the interest they'll save from doing so - all very odd!
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Possibly a word of caution………
My First Direct Regular Save is due to mature in May fully funded (current balance is £3300)
Phoned them to ask for closure today with a view to re-opening a new Regular Saver in the next few days, to ensure that the new one would mature in 2026/27 tax year.
They took me through the process and just prior to closing the account, advised that accrued interest on the current balance would be paid at their standard savings account rate of just over 1% and not at 7%.
The T&Cs appear to confirm this to be the case although slightly vague.
Clearly I abandoned the closure instructions.
Has anyone else had a similar experience?
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It is well established that HSBC and First Direct have a t&c stating
If you choose to close your account before the end of the 12 month period you will receive interest up to the date of closure at our Savings Account variable rate.
It has been the case for years.
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it's a well known condition of the First Direct RS - it's shown on page 1 of this thread where @Bridlington1 lists the currently available regular savers and any special withdrawal / closure conditions to be aware of… it's well worth a read! 👀
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