Co-Op Regular Saver - Early Closure

Hal17

I have a Co-Op regular saver that is due to mature on the 27th March. Does anyone know if it is possible to close the account early and then once closed open a new regular saver with them.

I do not want to withdraw funds and then find I cannot open a new RS until the current maturity date. Appreciate any thoughts,

EarthBoy

The Co-op Regular Saver is an instant access account. You can make as many withdrawals as you like, without having to close the account, so you could just withdraw most of the funds, but leave a small amount in to keep it open.

surreysaver

https://forums.moneysavingexpert.com/discussion/comment/81873379#Comment_81873379

The OP was asking whether it can be closed. Although it's easy access, can it be closed early?

happybagger

Well the t+c's don't say it can't, so make of that what you will. And they don't prohibit reopening.

retiredbanker1

I can't say specifics with Coop but we had a policy of one saver per year. So you could withdraw the funds at any time and the interest paid at the end of the term.

If you actually closed the account you could not open another until the year was up.

Hal17

https://forums.moneysavingexpert.com/discussion/comment/81873819#Comment_81873819

Thanks everyone for your replies. This was my thoughts, I can withdraw funds, but would not be able to open a new regular saver until after the maturity date of the 27th March. I guess I need to wait. Thanks again.

username2026

@Hal17 - were you able to close this account in the end, or did you just withdraw?

I’ve got one I’d like to close early, but can’t find a way to do it. I’m planning to call them next week but if you’ve had experience please let me know.

Not being able to open another until the anniversary date won’t be a problem.

Hal17

https://forums.moneysavingexpert.com/discussion/comment/81900726#Comment_81900726

I didn't do anything in the end. Decided to leave the account alone and let it run its course until maturity next month. Sorry I could not help.

username2026

In case anybody finds the thread in the future:

I called Co-Op Bank customer service to close the account. It cannot be done online, even through secure messaging.

The savings were moved out of my account, and within about a week, the interest payment was made, and the account was closed the following day.