Stroud and Swindon

nomorekids

Regular saver at 7% is brilliant but since closing Bromley I no longer live anywhere near a branch. Anyone had any success with opening branch accounts by post with these people?

Speculator

No chance. I phoned 8 branches last week and none would allow me to apply for this Regular Saver account by post. They said it has to be done via the branch because they have to print out your application form. Stupid reason really. I think they want you to visit the branch so that they can sell you stuff like credit cards and insurance.

mary

I've opened mine in branch, as I am local. The forms are not printed in the branch. Just the woman wants to sit down with you and check they can't sell you anything else.

nomorekids

thanks guys I too have phoned round the branches, pleaded my Bromley account (which I will now close). I don't live anywhere near a branch. I have however found a gem with Ipswich Target Saver at 8% which you can open by post so I'll do that instead. :beer:

Speculator

I think the Ipswich 8.05% Regular is locals only.

From their website...

Our regular saver accounts are exclusively available to investors in the Ipswich Building Society branch regions. Applications can only be accepted from the following postcode areas: CB, CM, CO, IP, NR and PE.

nomorekids

I had a long chat about this with very friendly and helpful staff who assured me that since I had an account with them already (bond which is about to mature) I could open any account with them so I have. I have blagged quite alot of societies with various stories (more front than Brighton according to hubby) and it helps to open kids accounts and then follow with one for yourself)

steady__eddie

I was thinking about opening one of these so I checked out the T & C s. The all important interest terms intrigued me.

Interest:
Rate is fixed at 7% Gross/AER for a period of 12 months from opening the account
provided the following criteria are met.
- Your initial initial opening investment and subsequent monthly payments are
between £100 and £1,000
- You invest between £100 and £1,000 each month for 12 consecutive months
Calculated on a daily basis
Credited annually to the account at midnight on 1st April, commencing 1st April 2007

Interest credited to the account on 1st April !
In my experience with regular savers, interest is usually credited on the anniversary of the account.(Cheshire being one exception that I am aware of). If an account was opened on say the first of May, I presume that 11 months interest would be credited on 01/04/07 and the remaining one month on 01/05/07. As interest is calculated on a daily basis, then it is possible to earn interest on the interest for one month.
They surely wouldn't credit you with 12 months interest on 01/04/07 would they or have I missed the plot (again) ?