The Top Regular Savers Discussion Thread

NewPieman

Lloyds

QQ - (I assume the answer is No I can't)…….Have a Lloyds RS and Club Lloyds RS paying 5.25% and 6.25% respectively……I see that they both paying 8% now…..Looked into whether I can close / transfer to the new account and start a new 12 months. Reading through - I can close the existing but I can't open the same account until the 12 months are up from the original opening of the account…….

mon3ysav3r

https://forums.moneysavingexpert.com/discussion/comment/82119244#Comment_82119244

Lloyds changed their T&Cs to say you can only open one Lloyds RS, so you can no longer hold both Lloyds RS and Club Lloyds RS once the current ones mature. I suspect they don't enforce the only opening one RS every 12 months.

Newly_retired

I am trying to reduce the number of accounts I hold. When deciding whether to open a new RS, as well as

1) checking the interest rate is high enough

2) ignoring any that can only be opened in branch or by post

I now apply a third criterion

3) ignore any financial institutions which generate a lot of negative feedback on this thread.