The Top Regular Savers Discussion Thread

mhoc

https://forums.moneysavingexpert.com/discussion/comment/81960125#Comment_81960125

Good point regarding YBS - when our YBS loyalty savers mature in a few weeks I will leave them as easy access with £1 in - at least then I can prove membership dating back to May 2025 - although if ever I had issues with YBS with proving loyalty there would be outrage!

YBS was the 1st building society I saved with when we finally became debt free and went from constantly living in the red (overdraft, credit cards and loans) so that must 16 years :) First year we managed to save £2k which back then amounted to a small fortune!

Nationwide is our household current accounts dating back to when they took over Anglia.

KneadtheDough

https://forums.moneysavingexpert.com/discussion/comment/81960125#Comment_81960125

Just thought I'd mention that YBS's systems have been known to have difficulty when calculating how long you've been a member for as their systems seem to go off the age of your oldest account rather than how long you've been a continuous member for. If you keep your oldest account open, then this seems to rectify the issue, it's the main reason why I've kept hold of my old YBS Internet Saver Plus Issue 11, which has since been converted to another of their EA accounts.

Drat, I've been merrily closing down all my old EA accounts with YBS. Never mind, still have an old EA account from 2024. Will try to remember next time I go to close that one!

Pickledonionlover

Thanks, personally, Brid.

Huge amount of respect for your work ethic and patience here.

Whatever and whoever you do in 'real life' will be lucky to have you.

Dizzycap

https://forums.moneysavingexpert.com/discussion/comment/81956740#Comment_81956740

https://forums.moneysavingexpert.com/discussion/comment/81957945#Comment_81957945

For me, Principality have between June and August to come up with that 'more interesting product', otherwise I'm more than happy to leave the funds in my Cahoot Sunny Day account, until I can utilise somewhere else, and there are a few options open to me. Plus, there are a couple of banks who are offering 12 month RS @5%-5.25%, respectively with access to funds, if needed, which I would rather take than a 6 months RS; access to funds by closure only.

In addition, the Manchester BS Issue 1 RS @5.4% (v) £500 PM is worth having. I've held it for several months and renewed it a couple of months ago. A nice 2 year RS with easy access to funds as, when, or if you need them; but non-replaceble. Very quick & efficient to act on instructions given by account message.

Descrabled

Refine technique for most of us this financial year. Aim to close the regular saver prior to Monday 5th April and ensure that the interest is paid inside this financial year. This may suggest renewing (opening) accounts as early as possible this April and not waiting until the end of the month. This will give the maximum amount of interest whilst avoiding the increased savings tax in 2027-28.

surreysaver

https://forums.moneysavingexpert.com/discussion/comment/81961186#Comment_81961186

Yes, will have to work out, of those that allow early closure, whether it will be worth it to avoid the extra 2% tax.

I popped up to the East Midlands today to open Market Harborough's regular saver, but luckily that matures on 31st March before the next tax year.

I also opened Earl Shilton's regular saver, that appears to allow early closure

x44

Blimey that's a long way for a "SurreySaver" to travel to the East Midlands to open an branch only account!

Emily_Joy

When Co-Operative regular saver comes to maturity, it is converted to a "smart saver". I seem to have been accumulating them. Are they of any practical use? If not what would be the easiest (= the least time-consuming) way of closing it completely?

surreysaver

https://forums.moneysavingexpert.com/discussion/comment/81961731#Comment_81961731

Two branch only accounts. It's a day out, and a hobby.

cc123mm456

https://forums.moneysavingexpert.com/discussion/comment/81961740#Comment_81961740

Yes I can't see any use for the Co-op Smart Saver. The interest rate is 1.40%

You can close it by secure message, but I struggled to find that, so I noted the steps for next time, which are:

While logged to online banking in the web browser, use 'Help and Support' then 'Contact our support team'

My first request to close mine was rejected, with a comment that I must have a nil balance before the account can be closed (I had left £1 in). So I moved that out and sent another message. Then it was closed after 3 days.

In the message I provided the account number to be closed, and requested that any remaining interest is transferred to my Co-op current account (with that account number). I would guess that you can request the closure of multiple smart savers in one message, as long as they have nil balance.