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    • isasmurf
    • By isasmurf 9th Oct 18, 4:51 AM
    • 1,761 Posts
    • 786 Thanks
    isasmurf
    Thanks. No it's defo a regular saver. There's also an online saver sitting there which is empty too. That was created when the RS was opened. I'll go into a branch tomorrow and ask what the deal is.
    Originally posted by dekkard
    The online saver was created for the regular saver balance to be transferred into on maturity. As that account is still open under the terms of the regular saver it automatically renews with the current interest rate for a regular saver, so you shouldn't have to open a new one.
    • soulsaver
    • By soulsaver 9th Oct 18, 11:18 AM
    • 2,252 Posts
    • 1,071 Thanks
    soulsaver
    .. it automatically renews with the current interest rate for a regular saver, so you shouldn't have to open a new one.
    Originally posted by isasmurf
    ...only if you have a continuous SO.
    • aj23
    • By aj23 9th Oct 18, 11:33 AM
    • 1,091 Posts
    • 344 Thanks
    aj23
    Thanks. No it's defo a regular saver. There's also an online saver sitting there which is empty too. That was created when the RS was opened. I'll go into a branch tomorrow and ask what the deal is.
    Originally posted by dekkard
    An online saver didn't open for me when I opened my RS last week. My SO hasn't gone through yet either.
    • mhoc
    • By mhoc 26th Oct 18, 9:26 AM
    • 17,970 Posts
    • 215,427 Thanks
    mhoc
    Is there a kind person who can remind us about Leeds Regular saver 4 rules and regulations pretty please.

    I've got a cryptic reminder on the calendar for early November which says
    "Check Leeds 4 is under £6 thousand, withdraw £600, adjust SO to £50 a month"

    But then on my excel it says maximum £7250 and expires January 31st - no year mentioned.

    Yes I need to leave more precise reminders on the calender
    “Create all the happiness you are able to create; remove all the misery you are able to remove. Every day will allow you, --will invite you to add something to the pleasure of others, --or to diminish something of their pains.”
    • ctdctd
    • By ctdctd 26th Oct 18, 9:30 AM
    • 896 Posts
    • 738 Thanks
    ctdctd
    Is there a kind person who can remind us about Leeds Regular saver 4 rules and regulations pretty please.

    I've got a cryptic reminder on the calendar for early November which says
    "Check Leeds 4 is under £6 thousand, withdraw £600, adjust SO to £50 a month"

    But then on my excel it says maximum £7250 and expires January 31st - no year mentioned.

    Yes I need to leave more precise reminders on the calender
    Originally posted by mhoc

    Originally had a £6000 max balance excluding interest but no expiry date.
    Leeds changed this earlier this year and set an maturity date of 31st Jan 2019 with an increase of the max balance to £7250 excluding interest.
    Do Money Saving sites make you buy more bargains - and spend more money?
    • mhoc
    • By mhoc 26th Oct 18, 9:47 AM
    • 17,970 Posts
    • 215,427 Thanks
    mhoc
    Originally had a £6000 max balance excluding interest but no expiry date.
    Leeds changed this earlier this year and set an maturity date of 31st Jan 2019 with an increase of the max balance to £7250 excluding interest.
    Originally posted by ctdctd
    thank you for solving the mystery, reminder deleted and one less job to tackle
    I think its a wet afternoon job to delete defunct reminders.
    I've still got reminders about the Cheshire Building society (long since swallowed up by Nationwide) which I am sentimentally attached to as it was the very first regular savings account I had.
    Also reminders from when I was managing my Dads finances for him and he has been gone 4 years now
    “Create all the happiness you are able to create; remove all the misery you are able to remove. Every day will allow you, --will invite you to add something to the pleasure of others, --or to diminish something of their pains.”
    • 1882
    • By 1882 26th Oct 18, 5:25 PM
    • 319 Posts
    • 86 Thanks
    1882
    If I close my Nationwide current account by transferring to another provider what happens to my RS account? Does it continue until completion or would it be closed immediately?
    • YorkshireBoy
    • By YorkshireBoy 26th Oct 18, 7:21 PM
    • 30,530 Posts
    • 18,477 Thanks
    YorkshireBoy
    If I close my Nationwide current account by transferring to another provider what happens to my RS account? Does it continue until completion or would it be closed immediately?
    Originally posted by 1882
    Answered in your regular saver account T&Cs. See conditions 3, 4 & 5.
    • OceanSound
    • By OceanSound 18th Nov 18, 12:25 PM
    • 532 Posts
    • 101 Thanks
    OceanSound
    If you're pedantic about the word 'change' that maybe correct (as opposed to delete and raise a new one maybe you see as not a 'change'?). But I altered HSBC SO to my HSBC reg saver by setting up another one for an earlier date and 'cancel'ing the existing one... today.. on line. It has accepted the 2 changes; I'll let you know if it fails or pay the interest.
    Originally posted by soulsaver
    Has anyone been able to change (amend) the Standing Order (SO) amount for the First Direct Regular saver?
    When I click on 'amend' and change the amount from £250 to £100 and save. it gives an error.
    I noticed there was a 'create new SO' option. Would it be ok to create a new SO then delete the old one?
    • Westie983
    • By Westie983 18th Nov 18, 12:34 PM
    • 4,706 Posts
    • 15,273 Thanks
    Westie983
    Has anyone been able to change (amend) the Standing Order (SO) amount for the First Direct Regular saver?
    When I click on 'amend' and change the amount from £250 to £100 and save. it gives an error.
    I noticed there was a 'create new SO' option. Would it be ok to create a new SO then delete the old one?
    Originally posted by OceanSound
    You can if you give them a call,

    Westie983
    Save 12k in 2019 #42 Total (£16000)+£250/£12000 = 2.08%
    Sealed Pot Challenge ~ 12 #97 Total (£450)+£1/£500 = 0.20% ( x 11)
    Xmas 2019 £1 a Day #20 Total (£165)+£0/£365 = 0.00%
    Virtual Sealed Pot #1 Total (£1300)+£50/£1000 = 5.00%
    £2 Savers Club 2018 #16 Total (£1030)+£0/£2000 = 0.0%

    Total £301.00/£15865 = 1.89%
    I'm a Board Guide on Budgeting & Bank Accounts, Debt-Free Wannabe, Disability Money Matters, and Savings & Investments. I'm a volunteer helping the boards run smoothly, but I'm not a moderator, and do not read all posts. If you see an inappropriate/illegal post then email forumteam@moneysavingexpert.com
    • schiff
    • By schiff 18th Nov 18, 12:57 PM
    • 18,394 Posts
    • 9,824 Thanks
    schiff
    Has anyone been able to change (amend) the Standing Order (SO) amount for the First Direct Regular saver?
    When I click on 'amend' and change the amount from £250 to £100 and save. it gives an error.
    I noticed there was a 'create new SO' option. Would it be ok to create a new SO then delete the old one?
    Originally posted by OceanSound
    I was involved in something like this. By mistake I used a figure of £250 (which is the usual sum we tend to think in!) instead of £300 and then found I couldn't add the additional £50. Phoned them and was told that if I did £350 the following month it would work out OK - they arranged it at their end. That worked as intended and subsequent £300 transfers have worked perfectly.
    • OceanSound
    • By OceanSound 18th Nov 18, 1:20 PM
    • 532 Posts
    • 101 Thanks
    OceanSound
    I was involved in something like this. By mistake I used a figure of £250 (which is the usual sum we tend to think in!) instead of £300 and then found I couldn't add the additional £50....
    Originally posted by schiff
    Sorry, my current First Direct Regular Saver SO is actually for £300 not £250 (I was thinking of the M&S Bank Monthly Saver SO when I wrote the post, that one is for £250 - which is the maximum).

    For First Direct Regular Saver, has anyone created new SO and deleted old one through online banking, as opposed to calling first direct. It's just that I usually end up on the phone for a while each time I call them.

    The info about the product says 'you can change the amount of your standing order at any time', and it doesn't say we must phone to change the amount.
    • Annieddiva
    • By Annieddiva 18th Nov 18, 1:55 PM
    • 76 Posts
    • 127 Thanks
    Annieddiva
    Hi oceansound - I've just amended the standing order value in the past, unless their systems have recently changed...as I know they were doing some housekeeping last weekend, you could always use their live chat which I find useful if I don't want to call...
    Last edited by Annieddiva; 18-11-2018 at 1:59 PM.

    • OceanSound
    • By OceanSound 20th Nov 18, 4:19 PM
    • 532 Posts
    • 101 Thanks
    OceanSound
    Hi oceansound - I've just amended the standing order value in the past, unless their systems have recently changed...as I know they were doing some housekeeping last weekend, you could always use their live chat which I find useful if I don't want to call...
    Originally posted by Annieddiva
    thanks. When I tried to ammed error message said 'sorry, we can't amend this standing order online. Please call us on 03456 100 100. Quoting ref: H3L.'
    I did play around creating a new SO through internet banking, seemed a bit tedious. Happen to see that the existing SO had 'history' entries of when the payments have been made. So, I figure creating new SO then deleting old one would mess-up how many payments have been made already etc. So in the end fired-off a secure message to support and it was actioned promply.

    I didn't know this sorta thing could be done via online chat (wasn't even aware FirstDirect had live chat). Come to think of it, have managed to get things done via HSBC chat (for HSBC account). Something to be aware of for next time
    Last edited by OceanSound; 20-11-2018 at 4:25 PM.
    • Watermarc
    • By Watermarc 12th Jan 19, 8:19 PM
    • 3 Posts
    • 0 Thanks
    Watermarc
    Renew 5% regular saver every year?
    Hey all,
    In the past 3 years I've had 3 regular saver accounts: First one was with First Direct (5% on £300/mth with linked current acc), second with HSBC (5% on £250/mth with Advance current account), third with Nationwide (5% on £250/mth with Flex current account).


    I had always thought that these were limited time promo savings accounts that you could only open once in your lifetime, but my Nationwide one has just matured and on logging in this last time it asked me if I'd like to open the same type of 5% reg saver again. I started the application not thinking it would let me do it but it did!


    Do all the 5% regular savers let you reopen them in the following year? Have I been needlessly chasing 5% reg savers around different banks for the past 2 years?!
    • EachPenny
    • By EachPenny 12th Jan 19, 8:25 PM
    • 10,557 Posts
    • 30,923 Thanks
    EachPenny
    Do all the 5% regular savers let you reopen them in the following year? Have I been needlessly chasing 5% reg savers around different banks for the past 2 years?!
    Originally posted by Watermarc
    In a word, 'yes'.

    There are some regular savers that are on-offs, but with the 5% ones you mention you can open a new one as soon as the old one has matured (and the bank's system has updated itself).
    • llyndu
    • By llyndu 16th Jan 19, 1:44 PM
    • 4 Posts
    • 1 Thanks
    llyndu
    Drip feed calculator
    I am rather confused - I’ve just tried the drip feed calculator which is helpful, however I can’t understand the results!!
    Taking £3000 in a 4% account and dripping it into a 5% regular savers account at £300 per month over 2 years gives the results below; however surely if the £3000 was held in a 4% account with no withdrawals it would earn more interest than on a declining balance?? These results show that the interest from the normal savings account is the same whether the drip feed is taken or not.

    I’m not exactly a maths wizard though.....

    Normal Savings Account

    After 11 months your normal savings account was empty and the drip feeding stopped. The interest up to that point was...
    Total interest earned: £127
    £45 from the normal savings & £82 in the regular saver.
    Regular Saver

    If you'd kept the money only in the normal savings account you'd have earned £45 in interest[/I].
    Try with different inputs
    The
    • sully1311
    • By sully1311 16th Jan 19, 4:24 PM
    • 152 Posts
    • 85 Thanks
    sully1311
    Putting money bit by bit into a higher earning account will gain more interest. It explains this in the same article in which the calculator sits.

    The last bit about just keeping it in the savings account is wrong though. I'm not sure why MSE haven't fixed this as it's been wrong for ages/ever?
    • Watermarc
    • By Watermarc 17th Jan 19, 10:28 PM
    • 3 Posts
    • 0 Thanks
    Watermarc
    In a word, 'yes'.

    There are some regular savers that are on-offs, but with the 5% ones you mention you can open a new one as soon as the old one has matured (and the bank's system has updated itself).
    Originally posted by EachPenny

    Thanks EachPenny,


    Can't believe I've been furiously opening new current accounts each year just to get the regular savers! Doh!


    Oh well, now I can save twice as much at 5% each year!


    ...well I could if I earned enough :-/
    • llyndu
    • By llyndu 19th Feb 19, 6:38 AM
    • 4 Posts
    • 1 Thanks
    llyndu
    Thanks
    Sorry I didn’t reply to you, yes it was the error in the tool that I was trying to highlight

    Very odd
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