The Top Regular Savers Discussion Thread

DJ_Mike

Zopa just sent me that e-mail saying their Regular Saver will no longer be available from 22nd September. Which was curious, because when my finished at the end of last month, I couldn't open a new one. But lo and behold, now I can open a 6-month RS again!

rob37uk

https://forums.moneysavingexpert.com/discussion/comment/82128462#Comment_82128462

I managed to close a Zopa regular saver and re-open later that day on August 30th if it helps anyone.

happybagger

Looked in the No Chat thread, can't see any mention that the Ecology RS at 6% var has been withdrawn? But it's not showing on Ecology any longer

@Bridlington1

topyam

Co-Operative

My RS matures start of October. Do we get the option of getting all the money sent to our account, or does it go into one of their accounts that pays lower interest?

is it possible to open a new RS once the old one ends?

Bobblehat

https://forums.moneysavingexpert.com/discussion/comment/82128818#Comment_82128818

Co-op RS

1st Question …. Both

From the RS Iss 1 T&Cs ….

Account features
• Variable interest rate
• 12 month term - The 12 months starts from the date we receive and accept your 1st deposit
• No minimum monthly deposit
• Open an account with a minimum deposit of £1 - to be paid within 30 calendar days
• Maximum deposit of £250 per calendar month+
• Access to your funds when you need it
• Manage your account online, through our mobile app, over the phone or in branch
• Interest is paid gross annually into this account on maturity
• Interest is calculated daily based on the amount of money you have in your account at the end of each business day. All of the interest
you’ve earned each day is then added up and paid into your account when your Regular Saver matures or you close the account
• Product converts to an instant access variable rate Smart Saver account at the end of the 12 month term
• Available as a sole or joint account

2nd Question … Yes, If it's available at the time of applying!

saverkev

https://forums.moneysavingexpert.com/discussion/comment/82127165#Comment_82127165

https://forums.moneysavingexpert.com/discussion/comment/82128462#Comment_82128462

ZOPA renewal

I renewed mine in August - closed regular saver and opened new one same day - just check the Benefits section of your Biscuit account to see if Regular Saver option is there - mine still is

friolento

ZOPA renewal

I renewed my 12 month into a 6 month today as it wouldn't mature before they stop Regular Savers on Sept 22.

masonic

ZOPA

I'm sticking with my 12 month one as it runs until December and 3 months at an average balance of £3150 makes more for me than 6 months at an average balance of £900 (and the rest in a 5% account). I didn't intend to renew it in December.

I'm not overly impressed with the broader changes to the current account offering, but it seems to be the way of things at the moment. At least LBG retained a decent RS per brand for now at least.

x44

ZOPA

Obviously the Regular Saver plus the Smart Savings/Biscuit linked pots is costing them too much money. so they go down the usual route of dropping them in favour of some marketing promo gimmicks which most won't care about/wont take up and therefore will cost them next to nowt.

Off topic:

Old hands will remember the infamous Hoover free flights promo fiasco in 1992 where people were buying the cheapest qualifying product just to get the free flights being worth far more than the product they bought - and probably put straight in the bin!

I

dcs34

Zopa Bank changes to account benefits

It's not entirely clear to me from their email but presumably when the new benefits come in (e.g. monthly hot drink and extra % interest) from 22nd September, my existing regular saver account will stay open until it's original maturity date (6M ending in February)?

And the same would be true even if I opt-in to the new benefit package earlier than the compulsory date?