The Top Regular Savers Discussion Thread

Section62 · 30 July at 1:43PM

https://forums.moneysavingexpert.com/discussion/comment/82085978#Comment_82085978

What do you mean "trying to retain"?

I imagine adw1977 means exactly what they said - that some people were customers of Halifax because they wanted to be customers of Halifax, not Lloyds. Not everyone will realise how little difference there is, and some who might have been aware previously could have attachment to the Halifax brand which won't easily be swapped for Lloyds branded products.

I wouldn't suggest the numbers who might ditch Lloyds/Halifax is vast or even existential. But I'd be surprised if nobody at LBG has given thought to the potential for some Halifax customers to move away in protest and/or no longer feel as loyal. And by extension I'd be surprised if there is nobody at LBG looking at trends, with some kind of plans to incentivise existing customers to stay if the number of leavers reaches some kind of trigger level.

Likewise, it is probable you've not seen any indication of these plans (if they do exist) because it would be commercially sensitive information that won't be broadcast in advance.

Arguably - and getting back on topic - the 8% regular savers might be interpreted as LBG seeking to get some positive feelings about the brands to offset any negativity surrounding the changes.

nottsphil · 30 July at 2:14PM

Re 8% Lloyds MS

I don't get why we are not advised (on this forum) to use the renew account facility, which has worked in the past. I understand that this retains the account number so technically isn't a new regular saver. Wouldn't this be ideal re. the new 12 month rule, because the current advice to close via the Chat means a completely different account is being added.

(I want to retain CLMS even though it's only been running for 4 months).

molerat · 30 July at 2:21PM

https://forums.moneysavingexpert.com/discussion/comment/82086025#Comment_82086025

It does not renew the RS but converts it to a standard saver product, a new RS then needs opening with new sort code and account number. Chat is only needed for BOS accounts, Hfx and Lloyds use the renew route.

Middle_Sister · 30 July at 2:38PM

https://forums.moneysavingexpert.com/discussion/comment/82085131#Comment_82085131

Please let us know if it let's you open a new 8% RS with Lloyds on the App.

Middle_Sister · 30 July at 2:41PM

I just noticed I have 2 RS (both with £400 in) with Principality that pay only 4.94%. I was going to reduce the monthly payments from £200 but I can't see how to do this online.

There is also no option to cancel and take the money,

Anybody any advice on this please.

chris_the_bee · 30 July at 2:49PM

https://forums.moneysavingexpert.com/discussion/comment/82086050#Comment_82086050

Changing/stopping the payment is down to you to adjust/stop the standing order (if any) from your bank account. Or just stop sending ad hoc payments.

Top of the on line page, select Account services, then Close an Account. Not sure about the APP

adw1977 · 30 July at 2:52PM

https://forums.moneysavingexpert.com/discussion/comment/82086050#Comment_82086050

Your payments will be standing orders, so you can stop or change them yourself in whichever account you're using to fund the RS.

If you phone Principality they'll be able to close them early for you. They're usually very good at answering the phone.

ToastLady · 30 July at 3:20PM

Halifax

I received a message today saying that they will be closing online banking and app from 31st October 2026. I could use BoS instead which I already have, or could register with Lloyds.
I've just registered with Lloyds, no point in putting it off any longer and now have their monthly saver and funded it.