The Top Regular Savers Discussion Thread

AspiringPensioner

Santander & Lloyds/BOS 8% Reg Savers

Hi all, I just slogged through 30+ pages of chat here after (naturally!) not keeping an eye on the RS thread for a few days. I wonder if anyone could help with these questions linked to the associated current accounts:

• I don't have a current account with either Santander or Lloyds/BOS. I see that a few folk have mentioned that opening one only takes 5 mins.
  • I realise that this would entail a hard credit check - that should not be a problem as I'm pretty sure our credit profile is excellent, BUT we don't want to switch away from existing current account provider
  • Can you just open a standard current account these days without switching from another bank?
  • A quick search on Lloyds Classic current acc and Santander Everyday current acc suggests that minimum payment in is not required (so I wouldn't have to faff about putting large sums in and out each month) - can anyone with experience confirm?
  • Even as someone who is not concerned about going through a hard credit check, is it a bad idea to open two new current accounts on the same day/in the same week? 😄
• If I were to go ahead and open a new joint account with either/both Santander and Lloyds, to then access their 8% Reg Savers, would that allow both myself and OH to open one Reg Saver each, at each bank?

I don't really fancy taking a chance on trying to open either of these without having a current account, as I reckon they'd likely just close it again. Well, I have an ISA with Santander and actually did open their new RS just now, but that was in error 🙃 (I'd got the terms mixed up, with all this discussion going on!). I only realised at completion when I saw it didn't provide me with standard acc number & sort code to pay funds in. So I guess I'll ask them to close it again. Depending on answers to above, I'll re-try if it's straightforward to open Santander current acc.

I do (did) have an existing Halifax Reg Saver as well as a few other savings accounts with them. Thanks to the many folk upthread who explained, I managed to access the new 8% version. My existing Hx RS only had a month to go, so as advised I "renewed" it to a bog standard Everyday Saver and then cashed that in along with the interest, using part of it to fund the opening payment for the new Halifax Reg Saver at 8%. Logged out and in again to see the correct account summary. PS we also hit the "loop of doom" when trying to open a new Hx Reg Saver for my OH, encouraged by the info that new customers could do so. Just to confirm what others have experienced. Whether the Ts & Cs are incorrect, or it's a system glitch that will be updated at some point, I don't know. It did seem a bit odd that it would be allowed, given that Halifax accounts will be fully subsumed soon into Lloyds.

BestSeagull

https://forums.moneysavingexpert.com/discussion/comment/82070815#Comment_82070815

Scottish BS registration for new online portal.

I re-registered as soon as I saw this post yesterday and just now, the code arrived by email rather than post, thankfully. So much quicker than waiting for the code in the post but I'm still a bit annoyed that they didn't bother to notify customers in advance.

gpman

https://forums.moneysavingexpert.com/discussion/comment/82071394#Comment_82071394

Based on the huge number of posts here recently, I suspect many will suggest you keep trying and see just how many you can get to until (a) you get bored or (b) BoS stop you.

If you want to be sure of not being sanctioned by LBG, I think you know what you should do.

BestSeagull

https://forums.moneysavingexpert.com/discussion/comment/82071394#Comment_82071394

If it was anywhere else I probably would but I wouldn't take the chance with LBG, myself.

snookerloopy96

https://forums.moneysavingexpert.com/discussion/comment/82071411#Comment_82071411

I've got no intention of even attempting more, I only realised I have 2 when I looked through my e-mails and noticed different account numbers.

gpman

https://forums.moneysavingexpert.com/discussion/comment/82071399#Comment_82071399

Scottish BS registration for new online portal.

I've also started, but you do realise you need a total of 2 codes? One arrives by email to allow you access to the new portal, but then you need the second to actually see & manage your accounts? The second one I was informed would arrive by post to my address on record.

I've not received a second code by email yet and I used the first one about 12 hours ago. I don't see the value of the second one if it too is sent by email, but I understand the intent if it arrives by post.

Regarding prior notification of the change, I suspect SBS will be sending out notifications soon but wanted to get the thing available on their website first to avoid a deluge of calls/emails complaining it's not available yet.

If they don't, I think there will be a lot of unhappy customers from September who try to access their online account, not only being told they have to re-register, but also they may have to wait many days for a code to arrive in the post to complete the re-registration process.

snookerloopy96

https://forums.moneysavingexpert.com/discussion/comment/82071421#Comment_82071421

I will leave the 2nd one then, hopefully even if they notice they won't take action if its left unfunded.

BestSeagull

https://forums.moneysavingexpert.com/discussion/comment/82071469#Comment_82071469

I don't see the sense in it either but I appear to be fully registered having used the email code I received today. I can see my account when I couldn't yesterday having only started the re-registration process.

Eponym

https://forums.moneysavingexpert.com/discussion/comment/82071103#Comment_82071103

As mentioned by @DiamondLil, I was able to open both regular savers without having an active current account with either Halifax or Lloyds.

I already had both the apps though as an existing customer, so not sure if that makes a difference.