The Top Regular Savers Discussion Thread

Bridlington1

https://forums.moneysavingexpert.com/discussion/comment/82109908#Comment_82109908

I did a similar sort of thing but different circumstances, in my case conveyancers wanted my full deposit in one account before sending it as well as statements from all the accounts showing the money going into it. I had £18k plus interest due to pour out of Monmouthshire at 7% at the end of this month so I closed them both a month early. It was either that or empty everything south of 6.5% and then find I've a load of funds that I have to put into EA accounts for potentially a couple of months.

As it stands I've now ended up without any major surplus of funds that are below 6% for the next few months at least. I've got Melton's RS Issue 6 maturing in autumn but I'll probably need to dip into 6% RSs to feed September's RSs anyway so that'll get targeted then.

I also ended up closing Loughborough's 1 Year Super Saver a couple of months early as I was short of funds. I could've targeted RSs in the 5-6% region, but closing it early saved having around £20k needing a home all in one go, so it made sense to close when it had a smaller balance that could be swallowed up by other RSs easier.

Anagran

"If Zopa suddenly withdraw their regular saver"

Yes, this is exactly what I am doing. The Zopa RS HAS apparently already been withdrawn, but the app was (is?) still allowing existing customers to open one despite this.

dibbles212

https://forums.moneysavingexpert.com/discussion/comment/82109980#Comment_82109980

Yes, I'd like to close and reopen but nervous that it won't be available again after closure.

PixelPound

Why a couple of posts about closing Monmouthshire BS saver early. Is there going to be a new members only RS?

Slinky

I'm wondering if Zopa is going the way of Chase, which used to have good rates but not any more.

I opened an account and got the 7.1% RS for my OH last week. I was also hoping to get him the 1.5% extra bonus on the savings pots that I currently have as I'm trying to find ways of getting monthly interest for him to full up his £1K tax free allowance this year, previous years he's been a higher rate tax payer, but that's not on offer any more either.

MisterMotivated

https://forums.moneysavingexpert.com/discussion/comment/82109999#Comment_82109999

Mainly because those accounts mature over the weekend, meaning the money will then be stuck in a 1.1% account until the next working day. Based on where I'll be sending it, I'm losing 63p per day in interest by closing early but that's better than what I'd lose waiting to access the money next week

mhoc

What is the problem with Zopa?

OHs Zopa regular saver matured a few days ago - on android and such a huge faff to find the place on the updated app to reopen the regular saver. Also to withdraw even with the help from this group - so much so I wondered even if it was worth the effort of continuing with Zopa but it was managed eventually.

My Zopa regular saver matured yesterday - iphone and I renewed with no effort last night

Has Zopa gone NLA since yesterday?

DodgerPot

https://forums.moneysavingexpert.com/discussion/comment/82109999#Comment_82109999

Monmouthshire App Exclusive RS

Mine matures tomorrow (Saturday) with £12000 plus interest so I actioned account closure for today so it doesn’t sit in a low earning Easy Saver all weekend. I can place it into various 5% and then use to feed next months batch of regular savers.

It hasn’t arrived yet into my nominated account but wasn’t expecting it to have done this early.
while I was on the Monmouthshire website I closed a couple of dormant easy access empty accounts to tidy up a little

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82110072#Comment_82110072

Post upthread says that advice from Zopa CS is that the 7.1% RS has been withdrawn but the apps have yet to catch up with the news.

Anyone opened one today?

DodgerPot

Zopa

I’m still seeing the 7.1% regular saver advertised on their website.
Granted I already have an ongoing RS so it may be an issue for those needing to restart a matured one.

I’ve liked Zopa and used them regularly for several years when their rates have been competitive hoping they don’t go as chase has done for me a nearly empty unused chase account.
(I’m actually looking for a new cash isa transfer home for September and am considering Zopa 1yr fixed …..apologies off topic)