The Top Regular Savers Discussion Thread

s71hj

https://forums.moneysavingexpert.com/discussion/comment/82048139#Comment_82048139

I must say I'm pretty amazed it's as much as £4.50 which says a lot about how my brain isn't especially mathatical. That said, the lowest interest rate I leave money sitting at is 5.25% so I'm guessing we'd be looking in reality at a loss after basic rate tax of about £1. to avoid the hassle of breaking the routine of the 1st of the month standing orders I may stick with the 1st therefore .

Slinky

I keep seeing references to funding on same day each month. Was I the only one who opened the 5% RS mid month, then funded on 1st month after that? There wasn't a mechanism like Zopa have that stopped me funding on a date other than the 'monthversary'. Are the terms on this new 8% RS different to the 5% RS?

CricketLady

https://forums.moneysavingexpert.com/discussion/comment/82048303#Comment_82048303

Hi Slinky!

I did the same (with the Santander 5% RS - opened it mid month but then funded on the 1st) because I'm fairly sure that was allowed

It's the 8% one that makes it clear funding can't be until anniversary of opening date xx

(Cute cat in your pic!)

surreysaver

https://forums.moneysavingexpert.com/discussion/comment/82048303#Comment_82048303

You can open it when you like, and fund it on the first (unless there's a maximum amount of time you need to fund it within before it's closed). But doing this means you're missing out on interest for the period you haven't funded the account for.

where_are_we

https://forums.moneysavingexpert.com/discussion/comment/82047409#Comment_82047409

Upgrading old Santander 5%RS to new 8%RS using chat has a mixed response. OH`s old 5%RS disappeared the next day and she was able to open and fund a new 8%RS almost immediately. I am still waiting for my old RS balance 0 to disappear despite ringing them up yesterday to say that chat wasn`t working after 3 working days.

pecunianonolet

https://forums.moneysavingexpert.com/discussion/comment/82048623#Comment_82048623

If chat and the quoted SLA of 3 working days hasn't worked they fell short of their commitments communicated and you can raise a complaint. had this before when I needed to close a savings account so I could reapply via TCB for cashback but with the consequence that it took them 1.5 weeks to close the saver and by that point the TCB offer vanished. I did get compensation for it that did offset the potential TCB cashback plus some on top for the error itself and my efforts of having had a reason to complain.

where_are_we

https://forums.moneysavingexpert.com/discussion/comment/82047489#Comment_82047489

Skipton - Almost a year ago I was allowed to open a RS@5.25% and a MembersRS@5.75%. They both mature in the middle of July. My maturity options for the RS@5.25% do not allow me to open a new one as they have tightened up and allow only one RS of any sort. My best option seems to be close the RS@5.25% and withdraw the balance and open a new Members RS@5.75% once the old one matures ( I have not yet received maturity options for old Members RS@5.75%)

kermchem

https://forums.moneysavingexpert.com/discussion/comment/82048666#Comment_82048666

Skipton Members RS requires you to have been a member for the previous 30 days. Just be sure that the sequence in which you close accounts doesn’t leave you for a day or two as not holding an account.

SJMALBA

Dudley BS RS-1225

Sent a postal application, 1st class, as a new customer, just before midday on Wednesday, and astonished to receive a letter today confirming that the account is open! Not sure why they didn’t just email, but, impressively quick turnaround, particularly given Royal Mail's 'involvement'!

Well done Dudley BS (and Royal Mail!).

mhoc

Santander - neither of our regular savers would progress via Sandi for closure so we both rang up yesterday. I got the 3rd degree but the chap OH spoke to was much easy easy going but he said it had to go to a back office for closure.

This afternoon though the old regular savers were no longer listed so I opened the new Santander reg savers and added funds. I've set up reminders on the calendar for payment date. I also set up a SO for funds to go into the everyday current account on the 24th.

I wasnt going to risk waiting until the 1st of the month. As FD and Zopa are funded 3rd week of the month anyway its not an issue with the 26th funding date each month .

Dudley - no further notification emails from Dudley regarding the loyalty saver applications sent via email 2 days ago but I checked the accounts online. The new loyalty savers are listed and called Dudley loyalty saver issue 3 and not 1117 as previously. Funded and set up standing orders, google charted and set up the calendar reminders etc.

These 2 - Santander reg saver and Dudley loyalty saver mature so late in June 2027 the funds will be available to fill the general pot and pay the July 2027 SOs so another issue sorted