Derbyshire regular saver interest rate cut

Ted_Bloke

Deemy wrote:

your wrong.

1. You need to read up on the concept of feeder accounts feeding regular saver accounts

As I said, I'd prefer to have been wrong.
I hadn't heard these terms feeder, before this afternoon, maybe I could work out idea myself but it's late now this evg., there is somewhere I can read up on this concept?

Deemy wrote:

... why settle for 5% when given a little bit of effort you can earn between 5.75% to 7.25%

You've convinced me! I did a little calculation, it shows that 7.25% is 45% better than 5%. All I need to do now is get the 7.25% somehow.
Is my resolution (to get Coventry, Barclays & AL) enough?

System

I would like to say i understand what you lot are on about, but i dont.:D

mary

Ted Bloke,

I see from your posting, that you are a relative newcomer to the site. It is good to have a variety of opinions in the forum but you should make sure of your facts before you start criticising other people who have been around here for quite a while and fully understand what they are doing.

1. For instance, last June, there was a period of about 6 weeks, when Derbyshire gave you the opportunity to start 2 x max £1,000 p.m. Regular Saver.

2. The fact that some accounts to you now seem "outdated" will be because the various institutions have now closed those particular accounts to newcomers but all the accounts which I listed maintain the interest rates I quoted, as they were Fixed rates when they were opened and hold until the end of the term

3. Yes, some of the accounts do have passbooks, no internet control etc.
Even when applying for credit cards etc. over the internet, you will still be sent credit card agreements to sign through the post, or you will have to send off various ID A passbook is no problem, you are sent it when you open the account and you don't need it again until you close the account and send it back to them. It depends if you are prepared to go the extra mile to make the extra pound.

4. Well, each month now I have £1,750 going into these different accounts. Approximately half of the money comes directly from income and the remainder is drip fed from my Cahoot account. So I leave you to do the calculations. See Martin's articles on Drip Feeding Regular Savings accounts.

5. QUOTE They'd say, if they knew, you're like that mary, she's so involved with these things she hasn't got time to think about ISAs.UNQUOTE
I wonder where you get that information from? "That Mary" as you decided to call me, actually has 4 Isas and about to open number 5 in April.

Ted_Bloke

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mary wrote:

Ted Bloke,

I see from your posting, that you are a relative newcomer to the site. It is good to have a variety of opinions in the forum but you should make sure of your facts before you start criticising other people who have been around here for quite a while and fully understand what they are doing.

We're all on the same side & I repeat the best news for me would be to learn I'm wrong. Call them arguments or something rather than criticism. I think I checked facts more than averagely here, apparent differences emerged from my checking figures rather than accepting the posted ones.

mary wrote:

1. For instance, last June, there was a period of about 6 weeks, when Derbyshire gave you the opportunity to start 2 x max £1,000 p.m. Regular Saver.

It was a minor correction I thought but I'm glad now I raised it because of what emerged from both your answers. I already had Derbs last June but what you say is news to me, I've just been though my Derbs. file, I don't think I ever threw anything away and I can find no trace of e.g. a letter from them. :mad: Probably this site, if I'd known it then is better for alerts than the cos. themselves.

mary wrote:

2. The fact that some accounts to you now seem "outdated" will be because the various institutions have now closed those particular accounts to newcomers but all the accounts which I listed maintain the interest rates I quoted, as they were Fixed rates when they were opened and hold until the end of the term.

OK and glad 4u after all, just 2 different points of view. My post is from the point of view of someone thinking what to get/do now, that could include majority of readers.

mary wrote:

3. Yes, some of the accounts do have passbooks, no internet control etc.
Even when applying for credit cards etc. over the internet, you will still be sent credit card agreements to sign through the post, or you will have to send off various ID A passbook is no problem, you are sent it when you open the account and you don't need it again until you close the account and send it back to them. It depends if you are prepared to go the extra mile to make the extra pound.

OK this was more attempted humour, and sure there is always a lot of paper exchange (too much! elsewhere I have posted about letters I get to tell me they are going to send me a letter, which letter then tells me they are going to send me a letter) involved in setting up accts., I do begin to find it quaint and for me awkward, when you cannot operate them from internet. In the future it will be a thing of the past! - meanwhile I do and will go that extra Km - from > £250p.m.

mary wrote:

4. Well, each month now I have £1,750 going into these different accounts. Approximately half of the money comes directly from income and the remainder is drip fed from my Cahoot account. So I leave you to do the calculations. See Martin's articles on Drip Feeding Regular Savings accounts.

Just what I intend to do, thank you.

mary wrote:

5. QUOTE They'd say, if they knew, you're like that mary, she's so involved with these things she hasn't got time to think about ISAs.UNQUOTE
I wonder where you get that information from? "That Mary" as you decided to call me, actually has 4 Isas and about to open number 5 in April.

Sorry, just the 1 fact/correction I was too tired of writing to do, I should have said shares. In fact before other stuff I should now prioritise ISAs over these concerns, I expect a lot of us should.

Aark

I already had Derbs last June but what you say is news to me, I've just been though my Derbs. file, I don't think I ever threw anything away and I can find no trace of e.g. a letter from them. :mad: Probably this site, if I'd known it then is better for alerts than the cos. themselves.

The only promotion I saw for the second account offer was a banner advert on The Derbyshire's own site. There was no direct mail or anything like that. Perhaps it was promoted in branches, but I don't live anywhere near one.

As you suggest, it was discussed at the time on this forum.

mary

Likewise, I don't live anywhere near one, neither did I have an existing account with them. I saw it on here. I check out this website daily as posters like to pass on the good news as soon as they find out.

Ted_Bloke

mary wrote:

I saw it on here. I check out this website daily as posters like to pass on the good news as soon as they find out.

Aark wrote:

As you suggest, it was discussed at the time on this forum.

HURRAH FOR THE SITE, we are great ppl!

Aark wrote:

There was no direct mail or anything like that.

I wonder why ever they would act in this way - towards their own existing members? May seem idle curiosity now, but every insight into financial or institutional workings helps create useful humus.

Deemy

I get the missus accounts updated today and see they clowns have charged tax despite her signing an R85 on opening !

Now let me go and see if I voice recorded the opening or not and referance to R85's So as I can let em have an ear ful.

Speculator

Whenever I open an account for my wife, I always send 4 copies of form R85 to different branches of the bank or building society. I don't trust them!

The worst culprit is Nationwide. I sent about 3 copies of form R85 to their head office in Swindon and they still claim to have not received it!! Not much point handing it into a branch because they just forward it to their head office!

MiserlyMartin

Wow what a discussion! So does anybody think I should close my newly opened Derbyshire Reg Saver then?