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The Top Regular Savers Discussion Thread
Comments
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Even that doesn't bother me too much. I am ceasing to be a UK tax resident later in the year anyhow so most of my bank and building society accounts will close. I probably go from 50-60 to max 10 accounts but I happily exchange this for 320 days a year of good weather and tax free capital gains and interest on worldwide income plus many other perks. Would have been nice to ride the 8% wave for a bit but not too fussed.
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Not good, hopefully just savings accounta and you have no further problems.
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Lloyd and BOS RS
After reading all of the comments regarding the 8% accounts, I’m confused about the Lloyd’s and BOS ones.
For info, I have a Halifax one opened……don’t have a current account with any of the 3 companies, just a Credit Card with Halifax. I was already registered for Online and Mobile Banking.
As we know, the Halifax ‘new customer’ options take you into a loop so no way to progress if you’re not already registered. Both BOS and Lloyds state that you need a Current Account, however the options look similar to Halifax and if you state that you are new to them it progresses to the application process for their RS. Not progressed any further, so what actually happens if I apply?
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Lloyds Banking Group (LBG) Monthly Savers (MS)
This is brief summary of my experience of LBG MS accounts over the last two days, which may or may not be of some benefit to other forumites.
On Monday 13th July 2026, as well as a Club Lloyds account, I also had the following LBG MS accounts:
- Club Lloyds (CL) 6.25%
- Lloyds 5.25
- Bank of Scotland (BoS) 5.5%
- Halifax 5.5%
N.B. Due to the minimum version of Android that LBG apps now require having recently changed I can no longer use LBG apps and instead I can only use LBG websites.
I renewed the Halifax 5.5% MS to easy access (EA) saver, transferred the balance with accrued interest to another account, closed the EA saver and successfully opened a new Halifax 8% MS.
Whilst a Renew Account option is shown for a BoS MS, it is actually NOT possible to renew a BoS MS and trying to do so results in message It looks like something's gone wrong. Unfortunately there's a problem with our system. We're sorry for any inconvenience. Please try again later. A customer must instead close a BoS MS, which can only be done with a balance of £5 or less, so one would have to transfer the full balance to another account, then close the account, when the accrued interest would then be transferred to another account and one can then open a new 8% MS.
Alternatively, BoS can close a MS without reducing the balance, which is what a BoS member of staff (MoS) did for me by telephone, during which the full balance and accrued interest was transferred to my BoS EA saver. However, the MS still remains in one's accounts' list and only disappears the following day, when one can open the new 8% MS, which is what I did.
I renewed both my Lloyds MS and my Club Lloyds MS to EA savers, transferred the EA balances to another account and closed the EA savers but, like BoS above, the EA savers remained within my accounts' list.
I then tried to open a new 8% MS and noted I was only presented with the option to open a CL MS.
Since one can now only have one and not both Lloyds MS accounts and they are both identical there is no benefit to me of having a Club Lloyds account, so I downgraded my Club Lloyds to Lloyds Classic.
I then tried to open a new 8% MS and noted I was not presented with the option of opening any MS.
The following day (today), the EA accounts disappeared from my accounts' list and I tried again to open a new 8% MS and noted I was still not presented with the option of opening any MS.
I telephoned Lloyds and, after much explanation to numerous MoS, a member of Lloyds Applications team successfully opened a new 8% MS for me.
I now have new Lloyds, BoS & Halifax 8% MS.
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If I downgrade my existing Halfax RS to an EA savings account, how soon will the interest from the RS be paid?
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I was able to open and fund the regular savers with both Lloyds and Halifax despite not having a current account with either. I have had a current account for both in the last year or so but had closed them both, and I do have credit cards for both so I am an existing customer.
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from my experience yesterday, it was immediately.
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If you renew your RS to EA you will receive the accrued interest immediately.
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This was done to me with Halifax in 2022, denied a current account ( no switch cash) but allowed me to keep an Easy Saver. A year later they allowed me a current account but in 2023 they didn't want me to hold a regular saver but gave me in the end 3 current accounts (applied within a space of a month between them) so got the monthly 5er. In 2024 they allowed me a regular saver (never funded it as rates kept going up so they remained below threshold), that reg saver renewed itself in 2025. They also gave me on 2 current accounts a 100 quid interest free overdraft. Yesterday I finaly managed to renew the reg saver and to open the new one with the result of this morning with the text.
Lloyds, I used them for a few account switches in 2022 but nothing since and followed the terms to the letter. They gave me Club Lloyds and standard reg saver, they were funded, primarily the Club Lloyds due to higher rate. This was no issue and could reopen the day after maturity a new one. This worked until maturity on 7th April 2025. Opened a new set on the 8th, funded both fully and the next day I received a text (same as I posted before) and they closed my Club Lloyds reg saver, they let me keep the normal one which I didn't bother funding as below rate threshold. The 400 in the CL RS remainded there until October when it took me almost 2 hours in branch, various phone calls, etc. to release the 400 plus interest. Branch stuff seemingly got upset with their own back office, were super friendly and apologised for the experience.
Didn't bother since to open any new product with them.
Maybe it was the switches in the past, maybe it was my MBNA CC that I used as a mule card once, don't know, don't care. My 8k MBNA card I closed now this morning, would need to go at some point anyway but they have been sending me for the last months regular emails praising their money and balance transfer offers to me with either zero fee or zero interest.
OH had similar experience with reg savers but never used accounts for switching, well ony once when joining LBG and got Lloyds and Halifax switch cash back in 2023. A complaint in the end overturned the text messages, a large sum of compensation was paid and they reinstated everything.
HSBC, First Direct, Natwest, RBS, Chase, Santander, Coop, Virgin Money, Barclays, they all never bothered to give me cedit cards, current accounts, saving accounts or anything and with two of them I hold Premier accounts.
If my creit file would be a problem or anything else I woudl think they would make some trouble, but they don't.
Right, back to topic for those lucky enough to ride the 8% wave.
And yes, 6 months with 8% accounts and closure would still been lovely, even 3 months.
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After another MSEer said in another thread that they'd successfully applied with Lloyds with no existing account or credit card, I've tried it too. It all went smoothly, they gave me the account number and sort code for the monthly saver (and there's been nothing saying they've set up a parallel current account), so I've leapt in with both feet and transferred £250 to it.
Given pecunianonolet's rejection letters above, I won't try to open another monthly saver with either of Bos or Halifax for the moment, since it seems possible it's the "open three of them" that has been their problem there. It'll be interesting to see if others are allowed to have 3, though.
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