Principality BS - Views/Comments?

[Deleted User]

I am considering opening a Principality BS e-saver account.

Anyone with any experiences or views to share?

TIA.

bristolleedsfan

Deleted_User wrote: »

I am considering opening a Principality BS e-saver account.

Anyone with any experiences or views to share?

TIA.

to make payments to another non principality account you need to firstly obtain a cheque from the institution you would be wanting to make payments to ( for validation/identification/ anti money laundering purposes, this would appear to eliminate paying to regular savers as getting nominal 1.00 cheque would lose a withdrawal facility from the regular saver ( ive not tried asking a building society if they will issue a cancelled cheque for identification verification purposes.

its unclear how many building society accounts are able to receive payments from another building society e-saver account ( including from principality building society e-saver account)


sainsburys internet account pays a slightly higher rate of interest.

http://www.sainsburysbank.co.uk/savings/sav_internetsaver_is_skip.shtml?source=NETHMPAGISAVMAIN0002

personally i believe the most ideal solution is to use a e-saver linked to your own current account,( eg nationwide e-saver/nationwide flexi account) because u can then move money between your e-saver and current account instantly without any loss of interest, as long as the rate of interest isnt more than 0.50% gross less than the top paying internet instant access account i believe advantages far outweigh the disadvantages.

opening a principality e-saver is very easy and quick, principality staff are very friendly and helpfull, ive now only got 100.00 in my e-saver for above mentioned reasons

realaledrinker

Superb customer service. Were offering a top paying ISA 2-3 yrs ago but fell by the wayside. Pity.

bristolleedsfan

realaledrinker wrote: »

Superb customer service. Were offering a top paying ISA 2-3 yrs ago but fell by the wayside. Pity.

have u got any experiences with principality e-saver, i would be interested in any very recent experiences people have so as to keep me up to date with any improvements. ( if any)

ED

Sadly, my recent experience is poor with a pre-2.30pm Tuesday BACS instruction given online not being actioned until next working day - and the Society responded to my enquiry stating it can take up to 5 BANKING days for funds to clear into external linked accounts. My previous 'test' BACS to the same linked accounts arrived on Day 3 - leaving Monday, arriving Wednesday. Anyone here experienced outward BACS taking more than 3 banking days from Principality's e-SAVER?

bristolleedsfan

ED wrote: »

Sadly, my recent experience is poor with a pre-2.30pm Tuesday BACS instruction given online not being actioned until next working day - and the Society responded to my enquiry stating it can take up to 5 BANKING days for funds to clear into external linked accounts. My previous 'test' BACS to the same linked accounts arrived on Day 3 - leaving Monday, arriving Wednesday. Anyone here experienced outward BACS taking more than 3 banking days from Principality's e-SAVER?

there doesnt appear to be many transactional experiences re building society e-savers at all, partly i believe cos a lot have gone for the better rate at ice save and now sainsburys, and partly as i mentioned before some will find a e-saver attached to their current account eg nationwide flexi account + nationwide e-saver much more convenient than keep losing interest moving money from one building society account to their current account, even though they get a slightly lower rate of interest, the piece of mind knowing that by a click of a mouse funds can be moved within the same institution instantly and peace of mind knowing all external payment arrangements can be set up beats an xtra 0.35% gross interest per annum imo.

just out of interest ED have u any experiences moving money from either principality e-saver or any other building society ( not attached to a current account) e-saver to a non current account, eg to a regular saver held at another building society.

you might be interested to know that newcastle/BMW e-saver only allows transfers to a nominated current account ( says can take up to 4 working days outgoing)

ED

bristolleedsfan wrote: »

there doesnt appear to be many transactional experiences re building society e-savers at all, partly i believe cos a lot have gone for the better rate at ice save and now sainsburys, and partly as i mentioned before some will find a e-saver attached to their current account eg nationwide flexi account + nationwide e-saver much more convenient than keep losing interest moving money from one building society account to their current account

I wonder if some, here, may share my motivation for using Principality's e-SAVER - for same-day interest earning via internal transfer of maturing monthly savings accounts. Funds now being filtered elsewhere.

bristolleedsfan wrote: »

ED have u any experiences moving money from either principality e-saver or any other building society ( not attached to a current account) e-saver to a non current account, eg to a regular saver held at another building society.

I have no such experience from Principality's e-SAVER, but have indeed for many years from the e-saver style NetSave account of Coventry Bdg Society. Sadly it pays ony 5.25% gross, just 0.12% higher than Coventry's hybrid current/savings account Coventry First after it's 12-month bonus expired.

bristolleedsfan

ED wrote: »

I wonder if some, here, may share my motivation for using Principality's e-SAVER - for same-day interest earning via internal transfer of maturing monthly savings accounts. Funds now being filtered elsewhere.

tbh i doubt whether many will find principality 1 year fixed rate monthly saver very appealing at all, when that rate + higher can be gained on monthly savers that last longer than 12 months


I have no such experience from Principality's e-SAVER, but have indeed for many years from the e-saver style NetSave account of Coventry Bdg Society. Sadly it pays ony 5.25% gross, just 0.12% higher than Coventry's hybrid current/savings account Coventry First after it's 12-month bonus expired.

id have thought coventrys e-saver would be more advanced than most building societies e-savers with coventry operating a current account, i can only assume that coventrys problem with keeping its savings rates competitive is ( similar to nationwide) costs associated with running its current account operation, it should be remembered that when building societies shout " no fee for cash point withdrawals" someone is paying for the costs associated with cash point withdrawals which i suspect is savers, look at nationwides/tescos/coventrys savings rates, may also explain norwich and peterboroughs and leeds BS overall poor savings rates as well.

prediction if yorkshire BS launch a current account expect their savings rates to "lose interest" :rotfl:

ED

Curiously, Coventry Bdg Soc offers competitive interest for the young + 60+ year olds, along with 1st year holders of Coventry First account. Norwich and Peterbrorough BS offer 8% monthly saver and pay up to 4.75% gross on their current account, making them more competitive than some high street banks. Alas the 8% account is permitted once only per customer - but fair enough, as it is to entice newcomers. Interesting idea, bristolleedsfan, re costing for ATM withdrawals.

bristolleedsfan

ED wrote: »

Curiously, Coventry Bdg Soc offers competitive interest for the young + 60+ year olds, along with 1st year holders of Coventry First account. Norwich and Peterbrorough BS offer 8% monthly saver and pay up to 4.75% gross on their current account, making them more competitive than some high street banks. Alas the 8% account is permitted once only per customer - but fair enough, as it is to entice newcomers. Interesting idea, bristolleedsfan, re costing for ATM withdrawals.

all institutions lure certain categories of people in with loss leading accounts what they lose on the swings they gain on the roundabouts

im convinced that barclays only did the ISA tax beater at a market leading rate in hope that a certain amount of people would take out other services which i believe was confirmed by the cold call i received earlier in week ( i didnt see an advisor when i took ISA application into branch, because i assured the branch their was no need for me to do so :cool: ) see barclays ISA thread re phone call

FridaysVictim

Deleted_User wrote: »

I am considering opening a Principality BS e-saver account.

Anyone with any experiences or views to share?

TIA.

I recently opened an account and tried the web portal to see how to use it .

I don't like the portal at all . It times-out very quickly and won't let you back in unless you close down Firefox completely and lose your other open tabs or windows - annoying . It's done it twice so far . Just deleting their cookie won't cure the time-out which is weird .

When I did get in I had a message from them to confirm my direct debit details and as I opened the message Firefox replicated itself 27 times for some reason with my cpu thrashing itself at 100% until I Ctrl/Alt/Del and closed Firefox down . No , I don't have a virus :-)) but I do have around 15 other online accounts with other providers and haven't had this kind of problem apart from ICICI .

My deposit cheque has been debited from my bank account but hasn't appeared as a deposit on the same day . Maybe it will appear tomorrow .

My welcome pack hasn't arrived but that could be due to today's postal strike .

I'll keep you posted .