Monmouthshire Flexible saver issue 2 launched

Chadsman

http://www.monbs.com/flexible-saver-issue-2/

...terms appear to be identical to issue 1...

Minimum opening balance £20.

Maximum investment amount across all Flexible Saver accounts combined per customer is £12,000 per year (ending 31 March).

Maximum of 4 withdrawals per year- further withdrawals require the account to be closed.

:j
:beer:

oldfella

issue 1 allowed a single deposit of £12K - issue 2 seems to limit deposits to £1K per month

if thats correct so my second £12K is going in issue 1

thenudeone

Is issue 1 still available?

johnmoney05

I don't think I can have both, right?

oldfella

if you have an issue 1 account it can be used for a second 12K deposit in April.

you can have both, but the max annual deposit is 12K across both, in which case there is no point opening an issue 2 assuming you have 12K to deposit. If you have 1K per month to deposit use issue 2 because of the longer bonus period

LittleVoice

If you opened the account and requested interest be added to the account rather than paid out and received a letter confirming that, I suggest you check your current account from which payment was made to Monmouthshire to see if, like for my account, they have paid out the 2% instead. It would have been received on 2 April.

Gromitt

LittleVoice wrote: »

I suggest you check your current account from which payment was made to Monmouthshire to see if, like for my account, they have paid out the 2% instead.

Your post seems a tad confusing. The interest rate on 2nd April was only ever going to be 2%. This was (and still is) clearly explained on the website.

LittleVoice

Gromitt wrote: »

Your post seems a tad confusing. The interest rate on 2nd April was only ever going to be 2%. This was (and still is) clearly explained on the website.

I know the interest up to 31 March (paid the next working day, 2 April) would be 2%, the bonus being paid 12 months after account opening.

What I was trying (but obviously failing) to point out was that - despite my instruction to credit the interest to the Monmouthshire account and their having confirmed that in writing - it was actually paid to my current account.

Apologies for having confused you.

Gromitt

Ah, now I understand. Mine was paid to my current account as well, but to be honest, I can't remember where I asked the interest to be paid. I don't think an extra ~£30 will affect my final bonus payment by much though, so not that bothered.

Stompa

LittleVoice wrote: »

What I was trying (but obviously failing) to point out was that - despite my instruction to credit the interest to the Monmouthshire account and their having confirmed that in writing - it was actually paid to my current account.

Well FWIW mine appeared in my Monmouthshire account as expected.

G_M

Confused bythe T&Cs of issue 1. Can I add £12K now? The T&C for issue 1 says:

Further Investment
You may add to your savings at any time, just call into your local branch or agency office with your passbook and deposit. If it is more convenient you can post it or save through a standing order from your bank account. Credits into the Flexible Saver accounts held can be made monthly to each individual Flexible Saver account(s) held by direct debit up to £1,000 per month (minimum £20 per month) and / or deposit monies at any time subject to a maximum investment of £12,000 per year (ending 31 March) applicable across all Flexible Saver accounts held per customer.

My bold/underline. What does this mean?