Monmouthshire B Socy

buffman

castle96 wrote: »

"But if you add £12k to the first account on 1st of April, that doesn't start earning a new bonus or anything - there is a single bonus payment of 2% paid on the first anniversary of opening. "

Interest is calculated daily. If you add a further £12k on April 1st, this too will qualify for the bonus until the anniversary in January.

adindas

Read below T&C. I also called them that is what they said they accept FPI but not FPO. Be careful if you just speak to tehri customer services, as this product is still new, Better speak to new account enqueries team.

• New account inquiries 01633 844 330 (use this)
• Customer Services 01633 844 340 (not this)

Also be aware "this is a saving account"t NOT current account. For saving account there is no requirement that the money has to arrive on the next working days.

I already open one of this account, therefore I also hope that they do FPO. But So until a lot of people have called them and they changed their T&C, I do not think they do FPO.

3 - Withdrawals
.......
Details of our cash and cheque withdrawal limits are displayed in our branch offices, available from our website or our Head Office or click here.

You can also make withdrawals by electronic transfer using the 'My Accounts' system. Online withdrawals using the 'My Accounts' system are subject to further terms and conditions.

My account T&C
8.5 We submit all withdrawn funds via the BACS system to your nominated bank account. You agree that under normal circumstances it will take three working days for the cleared funds to reach your nominated bank account. However, we cannot guarantee when a payment will reach the account.

http://www.monbs.com/uploads/publications/247.pdf

buffman wrote: »

This is incorrect. Having spoken again to their Customer Services Dept, it was confirmed, as I stated previously, that from the first week of January, one is able to make online withdrawals using Faster Payment. Providing the instruction is given before 12pm, the money will arrive the same day.

buffman

I have twice spoken to the new account inquiries 01633 844 330 and on both occasions have been told that they now do Faster Payments out. I will call for a third time later today.

adindas

Hi buffman

Thank you for doing that. If you call them also refer to section 8.5 (as above) on their My Account T&C so they have time to rethink about it.

Certainly as one of an account holders I also want to her that they do same /next day FPO ... But I just want to avoid disappointment later ...

buffman wrote: »

I have twice spoken to the new account inquiries 01633 844 330 and on both occasions have been told that they now do Faster Payments out. I will call for a third time later today.

buffman

Adindas

Having checked for a third time, I am certain that withdrawals can be made by Faster Payments. They should be updating condition 8.5 accordingly.

adindas

Thank you for your info. Good news then ...

buffman wrote: »

Adindas

Having checked for a third time, I am certain that withdrawals can be made by Faster Payments. They should be updating condition 8.5 accordingly.

drlabman

castle96 wrote: »

"But if you add £12k to the first account on 1st of April, that doesn't start earning a new bonus or anything - there is a single bonus payment of 2% paid on the first anniversary of opening. "

the first account will already have the max £12 in it. I cannot ? add any more to the initial/existing account (can I ?)

Ooops, sorry. It is £12 per YEAR (ending 31/3.

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.

Gromitt

Anyone got the application form yet? I registered last weekend but I've yet to see anything.

If it takes them this long to send out a pre-printed application form, how long is it going to take them to process the application?

drlabman

Gromitt wrote: »

Anyone got the application form yet? I registered last weekend but I've yet to see anything.

If it takes them this long to send out a pre-printed application form, how long is it going to take them to process the application?

I registered last Thursday evening and the form arrived today.

VT82

I think I applied Tuesday lunch time. No sign of it as of yesterday, but hopefully it will be there by Saturday so I can get it off on Monday!