Furness BS Reg saver Min Subs 4 Locals

bristolleedsfan

furness BS have sent me app form for reg saver with covering letter saying min monthly payment for non locals is 50.00 a month, literature merely refers to maximum of 200.00 a month

is there anybody local to furness BS who knows what the min monthly payment is for locals ?

is there a non local member of furness who has a regular saver and started off at 50.00 a month then after a few months dropped the payments to what ever the min local monthly payment is and has not had their account closed ?

Milarky

Doesn't seem to say, does it?

http://www.furnessbs.co.uk/web/savings/regular/regular.html

I did have it written down before I applied but it must have been either £10 or £20 per month - and I pay the £50 'minimum'

[Still a decent rate though]

quinlanmd

The reason no minimum monthly payment is quoted in the terms is because there isn't one (for locals). Once the account is opened they are free to make nil monthly payments if they wish (although of course the account is aimed at monthly saving).

I hold this account (as a non-local) and the closed-issue Bonus Builder 2, which was a similar account. The Bonus Builder 2 did require a minimum monthly investment of £10 (but allowed withdrawals subject to losing a 3% bonus for that account year).

s71hj

Presumably non locals can also make nil monthly payment then.

bristolleedsfan

s71hj wrote: »

Presumably non locals can also make nil monthly payment then.

product guide says "however at least one payment should be made each month" letter with app says " pse note as you reside outside our branch area the minimum contribution per calender month will be 50.00"

i was just wondering if anyone else took out the R/S with 50.00 per month min stipulation and subsequentely dropped the monthly payment without getting the account closed :cool: