The Top Regular Savers Discussion Thread

janusd

https://forums.moneysavingexpert.com/discussion/comment/82060453#Comment_82060453

you did better than me - I ran into the "unable to verify your ID" issue and they will review the application… feels like the same issue I had with Teachers… perhaps their server is similarly getting swamped with applications.

happybagger

https://forums.moneysavingexpert.com/discussion/comment/82060839#Comment_82060839

Each of these mature after a year. There is the potential with Beverley BS to build a high balance with no specified end date.

jameseonline

I closed my Nationwide Regular down instantly via the app & transferred to money to the 8% Santander Regular Saver 😊

jameseonline

https://forums.moneysavingexpert.com/discussion/comment/82044505#Comment_82044505

So basically ditch after a year then open new if still available yeah?

surreysaver

https://forums.moneysavingexpert.com/discussion/comment/82060886#Comment_82060886

Did you only have one month's worth of deposits in the Nationwide account?

jameseonline

https://forums.moneysavingexpert.com/discussion/comment/82045870#Comment_82045870

You've answered your own question, yay, not that much hassle though to open a current account generally speaking, then opening a savings account, the problem people seem to have is when they want to do switch offers, instead of creating another current account they want to switch a current account rather than keep it then have to go through the whole process again if something good comes as long or they simply lose out.

Personally I keep every single current account I open, so can easily strike should a new savings account come up, similarly I keep at least 1 savings account open with building societies to keep membership.

I put the work in to get accounts over a few years, why would I easily give them up if I don't need to?

nomorekids

https://forums.moneysavingexpert.com/discussion/comment/82060836#Comment_82060836

yes but to withdraw the funds, and keep the 5.5pc rate on said funds, its 1st Jan 2028 before you can. So some of us are speculating best use of the account based on possible future needs, hence the scenario to minimal fund during 2026, then max out 2027. There isn't any withdrawals of this open ended account without interest rate penalty for upto a year, hence the discussion and make sure correct understanding of the way this account operates.

Section62

https://forums.moneysavingexpert.com/discussion/comment/82060887#Comment_82060887

It depends what Santander do in 12 months time. If they offer a new bonus rate on existing accounts (like the Marcus EA model) then it might be enough that the new rate on £2400 + interest + £200/month looks a good deal.

Alternatively it could be an Edge Saver-like situation where there's no benefit from keeping the account open.

But until next year arrives it would be a case of guesswork.

nomorekids

https://forums.moneysavingexpert.com/discussion/comment/82060871#Comment_82060871

True, like the 1980's Norwich and Peterborough days, very few open ended account since

checkly

https://forums.moneysavingexpert.com/discussion/comment/82060944#Comment_82060944

Could you explain how you got 1st Jan 2028 as earliest possible closing date with the bonus. Is it that you have to have the account open for at least a year (although can’t see that explicitly stated)?