The Top Regular Savers Discussion Thread

SFCooper

Just to confirm:

If I close my Lloyds 6.25% regular saver I’ll be able open the Lloyds 8% regular saver?

Bob2000

https://forums.moneysavingexpert.com/discussion/comment/82069476#Comment_82069476

Ok thank you for the information I've never read so many posts getting a bit jaded now l think. Cheers.

Stargunner

https://forums.moneysavingexpert.com/discussion/comment/82069495#Comment_82069495

You will have to wait 12 months since you opened your 6.25 RS

SFCooper

https://forums.moneysavingexpert.com/discussion/comment/82069510#Comment_82069510

Thanks for the update.

That’s nonsense from Lloyds!

masonic

https://forums.moneysavingexpert.com/discussion/comment/82069513#Comment_82069513

That is why people renew the account to an easy access saver, rather than closing it. It is then not a RS and there is no 12 month restriction.

Bob2000

https://forums.moneysavingexpert.com/discussion/comment/82069481#Comment_82069481

Exactly what's happening to me. Good luck. I'm out. 👍

JuicyBrat

https://forums.moneysavingexpert.com/discussion/comment/82069493#Comment_82069493

@masonic - Ohh, thanks for your swift reply - I admit I was getting overwhelmed reading/following this thread 😅 I think I'll run them to maturity and see how this new situation all plays out

SFCooper

https://forums.moneysavingexpert.com/discussion/comment/82069519#Comment_82069519

Can I ‘renew’ via the app?

Yorkshire_Pud

https://forums.moneysavingexpert.com/discussion/comment/82069495#Comment_82069495

Nope don’t do that! If you do you will have to wait until the 12 months is up that the closed account would have run to maturity. You must RENEW ACCOUNT option in menu of savings accounts. Then choose their easy access saver and all the balance and any interest so far earnt will be transferred into the new account which has exactly the same account number as the account you just renewed.

Then LOG OUT or it won’t refresh itself. Then Log In again and go to savings and in the list should now be the MONTHLY SAVER 8%. This wouldn’t be seen the first time because you already had one, now you don’t. Then open the new 8% Regular or Monthly saver depends Halifax or Lloyds name. Then log out again. Log in fund the account £250 from your ‘Renewed’ account lol and move the rest away unless you like a low interest rate.

Job done. I did all this in the app.

allegro120

https://forums.moneysavingexpert.com/discussion/comment/82069445#Comment_82069445

I renewed my 5.5% Halifax this morning into EA and immediately opened 8% and funded. Done it online.

I'll have to stay with my current BoS and CL, judging by the posts on here the chance of the old loophole still working is very slim.