The Top Regular Savers Discussion Thread

masonic

https://forums.moneysavingexpert.com/discussion/comment/82096457#Comment_82096457

My experience in the past is that the RS has no close option, so it is necessary to renew to a different account to achieve closure without visiting a branch. Right now "Close account" is there for both my Lloyds and BoS RS, but not Halifax. I have had no issue renewing and then opening a new Halifax RS immediately, whether or not I close the renewed account.

friolento

https://forums.moneysavingexpert.com/discussion/comment/82096457#Comment_82096457

It doesn't really matter how we can get rid of - in other words, close - an existing Halifax RS, the important fact is that we can. It's a simple, quick, well tested approach, used countless times and without failure by many people. Quite frequently used since the 8% Halifax RS has come on the market.

In any case, it is totally wrong to tell people they can only open a Halifax RS every 12 months. I could not find anything in the Halifax T&Cs which says that only one Halifax RS can be opened in any 12 month period - but if I have overlooked this term, please point me to it.

ToastLady

https://forums.moneysavingexpert.com/discussion/comment/82096457#Comment_82096457

I think you maybe getting Halifax and BoS regular savers mixed up as to the T's and C's. It will soon no longer matter as Halifax will be under Lloyd's.

Born2Save_3

Newcastle RS Issue 1 and Manchester RS Issue 1 Refresh

Has anyone been able to do this ? Were you able to do this without likely manual intervention ? In other words, did closing seem automated and happen within a short time ? Were you paid the interest you expected ie the stated rate for the time invested in the account closed ? What day and times did you do the refresh ?

I'm wary that the window for reopening the issue one's is closing and may become problematic. Plus being a weekend may be beneficial.

Thanks in advance.

Bridlington1

https://forums.moneysavingexpert.com/discussion/comment/82096597#Comment_82096597

For Newcastle and Manchester BS:

In my experience if closure is requested for either of them now it'd be actioned the next working day so I'd imagine the refresh Newcastle RS Issue 1 ship has sailed unless the link lasts till well into Monday (jury's still out as to whether that'll happen). I was only able to open it today because I didn't already have one open so wanted to do a speculative opening.

Moreover if you close your only account online banking access is disabled and you'd have to get it set up from scratch so it's best to have another account open with them if you're going to refresh a RS.

Refreshing a RS is fairly quick in my experience if done during business hours, it's certainly doable in the same day, as soon as the old account's closed you can open a new one straight away, the process seemed automated it's the closure requests that aren't processed during non-working hours.

Interest is paid to the point of closure.

Born2Save_3

https://forums.moneysavingexpert.com/discussion/comment/82096604#Comment_82096604

Thanks.

Will have to see if the opening URLs remain active and may just chance it, If they do, particularly with Newcastle as at 5.15%A is not much above my Easy Access rate of 5%A that seems to persist (touch wood).

From past experience, branches have the ability to open accounts that have been NLA for several weeks. However, the circumstances I got lucky on this in the past would be different to reopening an issue 1.

ChaskhaChaia

Both Newcastle and Manchester 5.75% RSs opened this evening (they're not NLA yet). Anyone know how long I have until I need to fund them?

allegro120

https://forums.moneysavingexpert.com/discussion/comment/82096695#Comment_82096695

I think it is 30 days for both of them.

snookerloopy96

https://forums.moneysavingexpert.com/discussion/comment/82096695#Comment_82096695

My Newcastle e-mail says 14 days.

s71hj

https://forums.moneysavingexpert.com/discussion/comment/82096755#Comment_82096755

My Manchester email says 28 days