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Monmouthshire B Socy
Comments
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Brilliant acount. Easy online application followed by postal version returned with signature and £20 cheque.
Pasbook/acount details by return of post.
£1 online test transfer by Faster Payments.
Activation code received - logged on and checked £1 arrived safely same day as sent.
Balance transferred to take balance to £12K
No complaints.0 -
So the easiest/less hassle way
1. £20 now, £11980 shortly
2. £12k added to existing account on 1/4/12
3. Withdraw the lot on 1st anniversary/Jan 2013
=
2% + 2% on £12k for 12 mths
+
2% + 2% on 2nd 12k for 9 mths
I think I've finally got it (have I ?)I think you have finally got it. Now, if you ARE able to open a new account in April i.e. the deal is the same as now, you should do that rather than add to the existing account. That being the case you should close the first one in Jan 2013 and the second one on its anniversary i.e. April 2013. However, I will be surprised if the deal is still available in April.
Okay, so the account is still available, but in a more restricted form - max £1k per month.
I reckon you could- put £9k into issue 1 on 1st April - 4% for 9 months
- Open an issue 2 and add £1k on 1st April - 4% for 12 months
- Add £1k to issue 2 on 1st May - 4% for 11 months
- Add £1k to issue 2 on 1st Jun - 4% for 10 months
Am I missing something ? You lose out if you can get 4% elsewhere in 9 months time (since you could have put all 12k at 4% now, then still get 4% later).
EDIT: Hmm - web page for issue 2 says "Any number of Flexible Saver accounts may be opened up to a maximum investment amount of £1,000 per month across all Flexible Saver accounts held per customer. " £9k into issue 1 and £1k into issue 2 would violate that. Maybe it means max of £1k per month across all issue 2 flexible savers ?0 -
psychic_teabag wrote: »Okay, so the account is still available, but in a more restricted form - max £1k per month.
I reckon you could- put £9k into issue 1 on 1st April - 4% for 9 months
- Open an issue 2 and add £1k on 1st April - 4% for 12 months
- Add £1k to issue 2 on 1st May - 4% for 11 months
- Add £1k to issue 2 on 1st Jun - 4% for 10 months
Am I missing something ? You lose out if you can get 4% elsewhere in 9 months time (since you could have put all 12k at 4% now, then still get 4% later).
EDIT: Hmm - web page for issue 2 says "Any number of Flexible Saver accounts may be opened up to a maximum investment amount of £1,000 per month across all Flexible Saver accounts held per customer. " £9k into issue 1 and £1k into issue 2 would violate that. Maybe it means max of £1k per month across all issue 2 flexible savers ?
The T+Csof issue 2 don't look any different to those of the first issue. As far as I can see you are still able to pay in £12k in one lump sum.
It is only monthly DDs that are restricted to £1k just as in the first issue.
Open an issue 2 today and pay in £12k and get 4% on that for a year.0 -
How long does it usually take for a 'Faster Payments In' transfer to show online in 'My Accounts'?
I sent a small sum last night and it's still not confirmed as received.0 -
the terms are different :
issue 1
1 - Investment Limits
The minimum initial investment amount per account is £20. The maximum investment amount across all Flexible Saver accounts combined per customer is £12,000 per year (ending 31 March). The minimum balance per account is £1.
issue 2
1 - Investment Limits
The minimum initial investment amount per account is £20. The maximum investment per month is £1,000 across all Flexible Saver accounts per customer. The maximum investment amount across all Flexible Saver accounts combined per customer is £12,000 per year (ending 31 March).0 -
Just a heads up to anyone needing to withdraw from this account to fund an ISA on 6th April. (Bad planning on my part as a 3.11% Fixed Rate Bond doesn't mature until 30th :mad:, which could be too late for the best ISA deals)
Anyway - in order to withdraw, there are various stages to go through, which took a total of 9 days :eek: with no delays from me.
You have to start the process of linking a bank account for withdrawals, online, but then they send a form for signature and you can't withdraw until they've received it and set you up. Bank holidays could prolong this even further.0 -
OK I'm confused now. For those of us who already have £12k in an issue 1 account, we can still simply add a further £12k to that account on or after April 1 can't we?psychic_teabag wrote: »Okay, so the account is still available, but in a more restricted form - max £1k per month.
I reckon you could- put £9k into issue 1 on 1st April - 4% for 9 months
- Open an issue 2 and add £1k on 1st April - 4% for 12 months
- Add £1k to issue 2 on 1st May - 4% for 11 months
- Add £1k to issue 2 on 1st Jun - 4% for 10 months
Am I missing something ? You lose out if you can get 4% elsewhere in 9 months time (since you could have put all 12k at 4% now, then still get 4% later).Stompa0 -
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OK, thanks. For a moment there I thought that perhaps the fact that the issue 1 had been withdrawn meant that no further deposits could be made (though the T&C's did seem to indicate otherwise).Yes
It is only the new account (Issue 2) which restricts deposits to max £1k per month :jStompa0
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