Reg Saver a/c - do you close when matured?

Hi,

I was just wondering do most people (here) close their special rate accounts once they have matured, or do you usually leave an amount in to keep it open? (ie. is there a benefit in keeping it open?)

My Halifax monthly saver account matured in May (was 7% rate when opened and changed to 4% in Feb), and I want to open one of the higher offer accounts now instead and cease contributing to the Halifax one).

Thanks in advance

If the rate offered on the matured account is competitive then keep it open. If not then clear and/or close it.

The rate is still at 4% - so I am going to go ahead and close it.

I'll do some reading up here and decide which account to go with next.

Thanks for the reply Clubman .

Sometimes it's an idea to clear and account but leave it open in case you might have cause to open another account with the same financial institution and can avoid going through all of the usual new customer identification/documentation process.

ClubMan said:

Sometimes it's an idea to clear and account but leave it open in case you might have cause to open another account with the same financial institution and can avoid going through all of the usual new customer identification/documentation process.

Click to expand...

Sorry Clubman I had originally intended on asking that but was pretty shattered when I posted the question - so completely forgot. It makes a lot of sense though.
Thanks again.