The Top Regular Savers Discussion Thread

Bobblehat

With the possible disappearance/absorption of Halifax, would that mean BOS would automatically go too … or not?

I'm wondering why people are renewing BOS RSs …. belt and braces?

masonic

https://forums.moneysavingexpert.com/discussion/comment/82009711#Comment_82009711

At least some of the discussion is hypothetical, as it has been an ongoing issue for a long time. But it may make sense to renew given Lloyds direction of travel. I'm not in a position to do so right now.

clivep

https://forums.moneysavingexpert.com/discussion/comment/82009711#Comment_82009711

I don't think the BOS RS will disappear.

For me, it's to move interest from this tax year to next (I know this is contrary to many people's position regarding the tax rate of 22% on savings next year).

I will exceed my allowance of the 0% starting rate of tax on interest in the current tax year meaning the interest from the BOS a/c will attract tax, giving an effective interest rate reduced from 5.5% to 4.4%.

Next tax year, I still have headroom for the 0% starting rate. I've refreshed my Sunny Day savers so 5% annual interest will be paid next tax year without attracting any tax. Consequently, it's better to refresh my regular savers to fund my better paying regular savers than it is to use funds from the Sunny Day savers.

Bob2000

Anybody else not receiving posts via email and/or bell icon when logged in?

Dizzycap

https://forums.moneysavingexpert.com/discussion/comment/82009711#Comment_82009711

Fortunately, I decided to renewed both my Halifax & BoS RSs @ 5.5%(F) at the beginning of the month before this: Halifax brand set to vanish from high streets

Bridlington1

https://forums.moneysavingexpert.com/discussion/comment/82009799#Comment_82009799

Quite a few, there's an existing thread about this so if anyone wishes to discuss it, please use the dedicated thread for it.

https://forums.moneysavingexpert.com/discussion/6659478/not-getting-notifications-on-bookmarked-threads

bristolleedsfan

https://forums.moneysavingexpert.com/discussion/comment/82009601#Comment_82009601

No ………………………..

soulsaver

https://forums.moneysavingexpert.com/discussion/comment/82009885#Comment_82009885

We can't complete your request right now.

To close your account online:

• Your account balance must be £5 or less and
• You must hold another eligible Bank of Scotland account so we can transfer this remaining balance.

masonic

https://forums.moneysavingexpert.com/discussion/comment/82009927#Comment_82009927

It seems people are talking at cross purposes. The thread of the discussion was about being unable to "renew", which is different than closure. It makes sense that a different account is needed to close an account online, but renewing just changes the account type and leaves the balance in place, so it doesn't need a second account.

I imagine the need to have a receiving account for closure applies to all LBG brands, but BoS stands alone in generating an error when trying to renew the existing RS to something else in order to be eligible for another RS.

allegro120

https://forums.moneysavingexpert.com/discussion/comment/82009811#Comment_82009811

Reportedly reported by The Sun😀 Even if this happens, I think they will give a very long notice prior to any changes.

For me personally the worst case scenario will be if I can't renew my Halifax in March 2027. I won't be too disappointed, the rate has never been fantastic. It would be sad to see it go though, I had Halifax RS since it was launched some years ago, but nothing lasts forever and something else comes along instead.