5% Savings Loophole

stringer_bell

ive been paying into my nationwide reg saver from flexdirect in online banking. just realised some accounts require standing order?

also i have 2 of thei reg savers. the old 1k a month one and the newer 500 a month

principia

Not sure whether this has been posted before, but I have just applied for my second Vantage account and was told that Ts & Cs change in September. This is confirmed on the BofS website on the Vantage page:

"We are making some important changes to our Vantage qualifying criteria. From 1st September 2016, in addition to the current qualifying criteria, you’ll also need to pay at least two different Direct Debits from your Bank of Scotland Vantage account each calendar month to receive credit interest."


Richard

Editha

Ouch! I've only just set six BoS accounts up. Looks as if I'll be closing them down after four months.

LXdaddy

Editha wrote: »

Ouch! I've only just set six BoS accounts up. Looks as if I'll be closing them down after four months.

or follow the usual methods of having Direct Debits to qualify for the interest.

Editha

I've used up all of my monthly DDs on my Lloyd's accounts and a M&S account.

Eco_Miser

There are ways to get extra DDs
https://forums.moneysavingexpert.com/discussion/5126573

Editha

I'm finding it is an unbelievable hassle setting all the accounts and standing orders up.

I've just had access to one of the Bank of Scotland accounts blocked until I'm contacted by one of their fraud officers. It took 25 mins on the phone to be told that all I needed to do was reset the password.

I've still got only one Nationwide account and two TSB. Nationwide are still demanding some ID from me, despite the fact that I've already gone into their nearest branch and shown them my passport, household bills etc. They seem to have lost the records of that visit. Nationwide also gave my husband 2 separate customer numbers.

With TSB the problem is only that you can only open a joint account in a branch, and the nearest branch is twenty miles away.

adindas

I am aware of what stated in the T&C

Just wonder whether anyone with a sole account holder have successfully applied the second regular saver and get approved and get the interest rate same as the first one::
Nationwide Flexclusive RSA
TSB Monthly Saver
First Direct Regular Saver
M&S Monthly Saver
Clloyds Monthly Saver
Santander Reg eSaver
HSBC RSA

I understand with saving account is that there is no creditcheck, so we have nothing to loose to try (?)

Any info of the result of application (successful or not) for those who have tried it, by PM will be very much appreciated.

typistretired

principia wrote: »

Not sure whether this has been posted before, but I have just applied for my second Vantage account and was told that Ts & Cs change in September. This is confirmed on the BofS website on the Vantage page:

"We are making some important changes to our Vantage qualifying criteria. From 1st September 2016, in addition to the current qualifying criteria, you’ll also need to pay at least two different Direct Debits from your Bank of Scotland Vantage account each calendar month to receive credit interest."


Richard

You could do with opening a new thread with this as this was news to me as well. Must have skimmed over the letter which informed of this change.

colsten

typistretired wrote: »

You could do with opening a new thread with this as this was news to me as well. Must have skimmed over the letter which informed of this change.

There is already a separate thread about this somewhere.

Notifications have as yet not been mailed to people. They'll probably arrive in the next month or two.