The Top Regular Savers Discussion Thread

Pickledonionlover

https://forums.moneysavingexpert.com/discussion/comment/82068748#Comment_82068748

Re BOS

I emptied my existing RS (via app) and then tried to close it (again via app) and get the message below.

Same message when I attempt to do this online. I've also logged out and in.

This means it's the worst of all worlds - i.e. no interest paid on old account (yet), emptied and no new one 😂

We can't complete your request right now.

To close your account, please visit your nearest branch or contact us.

gwapenut

https://forums.moneysavingexpert.com/discussion/comment/82068663#Comment_82068663

When calculating the interest earned on LBG regular savers though, you need to take into account how much interest your money earns elsewhere. Normally this is the same whichever RS you choose, however on this occasion you have a pot of 12x£150 pcm(the difference between the two funding rates, £400-£250) earning interest at, say, an average of 4.30%. This skews the calculation into the favour of the new £250pcm at 8%, depending on where you are in your existing RS lifecycle.

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82068813#Comment_82068813

Have you worked out where that switch point is in the RS lifecycle? Mine's sitting at 6mths in, haven't done the spreadsheet wrangling yet.

CricketLady

https://forums.moneysavingexpert.com/discussion/comment/82068801#Comment_82068801

You don't mention in this list that you applied for the 8% account, are you saying that the new 8% account isn't showing? If you successfully opened the 8% account, you should receive an email which will give you the sort code and account number (alongside the other emails confirming your previous regular saver became an easy access account) and at least will verify that all is well (or not) - good luck xx

Edited to add - the renewal button simply renews the old account into an easy access, it doesn't automatically open another regular saver for you. To do this go to the "compare savings accounts" button on the left, find the 8% and apply for that in the usual way. xx

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82068814#Comment_82068814

Maybe even one of the largest IT infrastructures in Europe is having a bit of a creak with thousands of simultaneous "Renew" presses…..

gwapenut

https://forums.moneysavingexpert.com/discussion/comment/82068817#Comment_82068817

Actually, I'm not sure it does skew it in favour of the new 8%. I'm just 3 months in, and I think I'm better off staying put. Here's a screenshot of my calcs using a really rough and ready monthly interest totting up. Small error means I forgot I should have an extra £150 in savings at the start of the 8% term, but that only bumps the total 8% interest up to £215.

Kim_13

https://forums.moneysavingexpert.com/discussion/comment/82068801#Comment_82068801

I renewed, logged out of online banking and then opened the new RS in the app - don’t know if that makes a difference.

I haven’t closed either of the Everyday Savers yet.

clivep

https://forums.moneysavingexpert.com/discussion/comment/82068812#Comment_82068812

I had these problems when renewing my BOS RS in May (Doh! would have matured later this month).

I managed to get it closed by using the online chat but seem to remember it took a while before it was closed.

Edit… I've just tried and had the same problem. As last time, online chat gives the option to close but then simply directs you to the non-functioning route. When you say it's not working they redirect you to an agent who eventually closes it. However, this time the agent has told me to go into a branch!!!. I said I'd previously done it in chat and she agreed to close the a/c.

clairec666

https://forums.moneysavingexpert.com/discussion/comment/82068754#Comment_82068754

Bank of Scotland login

I don't have any BoS accounts, tried registering for online banking with my Halifax and Lloyds account number / sort codes, and it says they couldn't find my account.

I'll happily open a BoS current account in order to get the regular saver, but it sounded from your experience that it was possible to avoid this.

PloughmansLunch

https://forums.moneysavingexpert.com/discussion/comment/82068812#Comment_82068812

BOS

I got this message too, and I've also closed two instant access accounts that were rattling around which appeared to work, but they are still showing in both online banking and the app. A 2nd attempt to close these gives the same 'We can't complete your request…' message. It's annoying but not the end of the world as I could always move £250 back in this month and have it mature £1000 less than it should have been.