We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Regular Savings Accounts Article Discussion

Options
1525355575879

Comments

  • hi, i have a 123 acc with santander and a regular saver linked to this account which should pay 5% after a year, i'm looking to close both accounts but am only 6 months into the 12..

    I can't find any terms on what the reg saver will pay in interest if closed after say 6 or 7 months, or if it will pay any interest at all.

    Would anyone happen to know, or have a link ? thanks
  • solartom
    solartom Posts: 48 Forumite
    Part of the Furniture 10 Posts Photogenic Name Dropper
    edited 4 December 2017 at 8:09PM
    "We're sorry to hear that you are thinking about closing your savings account or cash ISA. Please send a secure message through your online banking, visit your local branch or call 0800 9 123 123. Lines open 7am to 9pm Monday to Saturday and 8am to 9pm Sundays."

    from the santander website FAQ's
    Mortgage Free 02/02/2024
  • dekkard
    dekkard Posts: 246 Forumite
    Part of the Furniture 100 Posts Photogenic Name Dropper
    hi, i have a 123 acc with santander and a regular saver linked to this account which should pay 5% after a year, i'm looking to close both accounts but am only 6 months into the 12..

    I can't find any terms on what the reg saver will pay in interest if closed after say 6 or 7 months, or if it will pay any interest at all.

    Would anyone happen to know, or have a link ? thanks

    I don't know for sure but I'd imagine they'd pay you the interest due for those 6 months.
  • Neil_Jones
    Neil_Jones Posts: 9,548 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    The MSE Regular Saver calculator suggests a payment of £17.23 would be due after six months, and £23 after seven.

    Note that the T&Cs for the Regular Saver says you only have to be a 123/World or Select customer at the point of application, though by the same admission the terms also say you should only feed it from your Santander current account.
  • Thanks all, no real reason to keep my money in santander anymore....

    Regards
  • What are the "forumites" thoughts on First Trust Bank`s Regular Saver Account ? I like the £500 monthly maximum, instant withdrawals, online management and it is covered by the FCSS even though owned by AIB. The 2.5% interest rate is variable and I have used up all my better rate options. However all branches are in Northern Ireland. I am emptying my BOS accounts prior to Tesco DD`s ending next April.
  • ceredigion
    ceredigion Posts: 3,709 Forumite
    Eighth Anniversary 1,000 Posts Photogenic
    edited 31 December 2017 at 4:56PM
    What are the "forumites" thoughts on First Trust Bank`s Regular Saver Account ? I like the £500 monthly maximum, instant withdrawals, online management and it is covered by the FCSS even though owned by AIB. The 2.5% interest rate is variable and I have used up all my better rate options. However all branches are in Northern Ireland. I am emptying my BOS accounts prior to Tesco DD`s ending next April.


    Was under the impression that it needs a branch visit to open?, which put me off


    Edit, To clarify the RS can be opened on line but you have to hold a First Trust bank select current account, which needs opening in branch.
  • missymouse
    missymouse Posts: 946 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    My Nationwide monthly saver has just matured so apparently have to open another one and it reduces to a low amount

    Are there any accounts with good interest rates which are ongoing. It would be great to put the savings somewhere else and continue to get 5% rather than starting from scratch every time.
  • ceredigion
    ceredigion Posts: 3,709 Forumite
    Eighth Anniversary 1,000 Posts Photogenic
    missymouse wrote: »
    My Nationwide monthly saver has just matured so apparently have to open another one and it reduces to a low amount

    Are there any accounts with good interest rates which are ongoing. It would be great to put the savings somewhere else and continue to get 5% rather than starting from scratch every time.



    https://forums.moneysavingexpert.com/discussion/608697
    post #2
  • solartom
    solartom Posts: 48 Forumite
    Part of the Furniture 10 Posts Photogenic Name Dropper
    not able/allowed to copy link i am referring to but it is the one in above post by ceredigion
    link not working all links to this thread seem to have vanished even special saver is looking for his own thread to update it anyone know what is going on????
    Mortgage Free 02/02/2024
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.9K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.9K Work, Benefits & Business
  • 598.8K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.