The Top Regular Savers Discussion Thread

The_Groat_Counter

https://forums.moneysavingexpert.com/discussion/comment/82069133#Comment_82069133

For the Bank of Scotland Monthly Saver (their name for a Regular Saver), you need to hold a current account with them - and that would involve a credit check (it's possible it might not if you already hold a current account with Lloyds or Halifax, but that's nothing more than a semi-educated guess).

Bank of Scotland Monthly Saver

janusd

https://forums.moneysavingexpert.com/discussion/comment/82069133#Comment_82069133

if you already have a current account with Lloyds, that should be sufficient to open a BoS RS.

pecunianonolet

LBG Group Reg Savers

A day of abscence and 160 unread messages…

Lloyds: I currently hold no regular savers with Lloyds, the in app application screen shows me only the Club 8% Reg Saver.

Halifax: I have the 5.5% reg saver with zero balance, it auto renewed from last year but remained unfunded. I do not see the 8% regular saver in the app as an option to apply for because I already have an active saver.

BOS: I do not have any accounts with them.

Can somebody confirm if this would the right order:

1. Open Club Lloyds 8% reg saver
2. Login to Halifax online banking, renew 5.5% saver to easy access saver, log out and back in and the 8% saver should be available. Perhaps leave a day between both operations.
3. ??? Could I use Halifax login details and login to BOS and also open the 8% saver there or will this be not possible ???

Other: I had it in the past that I was opening the 6.25% Club regular saver with Lloyds and the standard 5.25% regular saver. Funded both straight after opening. Next day I received a text that Club Lloyds account was closed and I would need to go to branch with ID and letter. Letter arrived a week later and it was confirmed to me that the 400 would keep earning until account is closed.

An hour later, 4 calls I in the end had to make myself from branch with branch staff everytime verifying their employer ID to people we got passed onto until the account was closed, the interest on the 400 was paid and funds transferred out. OH has had the above with Halifax, however, a complaint was raised and Halifax reinstated all accounts and paid compensation. They said leaving easy access accounts unfunded and dormant could trigger this with their systems. true or not, no idea.

I am a bit concerned of this happening again, so if I open the account I probably give it a couple of days before funding. Going to branch is also curently not possible as ca 3000 miles away from the nearest one for the next few months.

LBG has been a trouble maker for a while so as long as I get my cinema vouchers and keep my 3 current accounts connected to yougov I am not keen to tinker with anything LBG. The only paments are those in and out each month to avoid the Club Lloyds fee and 2 current account with Lloyds and 1 with Halifax using the 100 GBP interest free overdraft limit. Perhaps best to feed them first back to zero before any application. With LBG everything is possible and I always expect the unexpected with them.

Opinions?

kermchem

https://forums.moneysavingexpert.com/discussion/comment/82069174#Comment_82069174

I am a Lloyds customer (for decades) with a Halifax RS. You can use Halifax account details to register online for BoS, and you can then apply for a BoS Monthly Saver, even without a BoS current account it appears. I have no desire to be debanked by LBG so didn't complete the application.

kaMelo

https://forums.moneysavingexpert.com/discussion/comment/82069133#Comment_82069133

If you hold a current account with Halifax and have online access it is possible to open a Bank of Scotland regular saver without opening a Bank of Scotland current account but, given what you've asked in other questions, I'm assuming you don't in which case this workaround is not possible.

The_Groat_Counter

https://forums.moneysavingexpert.com/discussion/comment/82069176#Comment_82069176

Though that's not what is stated on the BoS Monthly Saver web page.

kaMelo

https://forums.moneysavingexpert.com/discussion/comment/82069176#Comment_82069176

That's not correct, you can use your Halifax log in details to create a Bank of Scotland login and vice versa. However Lloyds login details only get you access to Lloyds.

kermchem

https://forums.moneysavingexpert.com/discussion/comment/82069183#Comment_82069183

Well established that some of LBG's terms and conditions are not implemented by their software.

janusd

https://forums.moneysavingexpert.com/discussion/comment/82069183#Comment_82069183

it is true that it says that - but one of the great things about this thread (and its previous incarnation) is that you find out what happens in the real world and not rely on the written terms… and someone posted back in March that you could open a BoS RS without the need for a BoS current account if you already have a Lloyds (maybe Halifax too) current account.

I have done this myself personally - don't have a current account with BoS or Halifax, but have a Lloyds current account and was able to open the 5.5% BoS RS without any issue… haven't dared tried to renew it to the 8% version though. 😀

strawb_shortcake

Santander

I opened a current account and the RS late last week, this was fairly simple as I hold my mortgage with them so no proof of ID required.

Halifax

This was also another one easy to open as I have a Halifax credit card and the app, opened on minutes. Slightly better than the Santander one as the 8% is fixed.

Lloyds

My current RS matures next month, and presumably I won't be able to renew the Lloyds one until September, and remains to be seen if the 8% will still be open. Though I'll be using the matured Lloyds RS to fund the Halifax account.

This is my first time having more than one RS, I just need to work out if I can stretch to afford funding another, or just redirect other savings? Also where I'm recycling savings ensuring its available when needed.

Current goals are holiday spends for July 27

Long haul holiday 2028 month undecided.

Think I need a spreadsheet…