Regular Saver Thread **New and Restarted**

[Deleted User]

JamesRobinson48 wrote: »

Two new Chorley BS Santa Saver RSAs out today on their website:

(A) £350 pm @ 2.5% for members of long standing (as already mentioned on this thread), and

(B) £250 pm @ 2.25% for the rest of us.

For each the start date is 1st Nov.

Just a warning about these accounts. You cannot withdraw funds before the maturity date, or even close the account before the maturity date.

Most RS accounts, if not allowing withdrawals, at least allow you to close the account before the term is up (although, perhaps, imposing a condition that you can't open a new RS until the date which would have been the maturity date of the old one).

The "no closure" rule is very restrictive for an interest rate of only 2.25% (or even 2.5%) on a Regular Saver.

[Deleted User]

Deleted_User wrote: »

Just a warning about these accounts. You cannot withdraw funds before the maturity date, or even close the account before the maturity date.

Most RS accounts, if not allowing withdrawals, at least allow you to close the account before the term is up (although, perhaps, imposing a condition that you can't open a new RS until the date which would have been the maturity date of the old one).

The "no closure" rule is very restrictive for an interest rate of only 2.25% (or even 2.5%) on a Regular Saver.

From the terms and conditions:-

"No withdrawals or early closure are allowed within the fixed rate term, except in the event of the death of the account holder"

colsten

Deleted_User wrote: »

The "no closure" rule is very restrictive for an interest rate of only 2.25% (or even 2.5%) on a Regular Saver.

Just don't use the account if it's too restrictive for you.

eskbanker

Deleted_User wrote: »

Just a warning about these accounts. You cannot withdraw funds before the maturity date, or even close the account before the maturity date.

Most RS accounts, if not allowing withdrawals, at least allow you to close the account before the term is up (although, perhaps, imposing a condition that you can't open a new RS until the date which would have been the maturity date of the old one).

The "no closure" rule is very restrictive for an interest rate of only 2.25% (or even 2.5%) on a Regular Saver.

Not sure I'm seeing the problem here - what's the benefit in being able to close an account before maturity if you still don't have access to the balance and are unable to open a new one?

mhoc

JamesRobinson48 wrote: »

Two new Chorley BS Santa Saver RSAs out today on their website:

(A) £350 pm @ 2.5% for members of long standing (as already mentioned on this thread), and

(B) £250 pm @ 2.25% for the rest of us.

For each the start date is 1st Nov.

Pondering this Santa Saver Issue 2 (31/10/19)
"Available to all non-members and those who have held an open account with us for less than 12 months prior to the opening of this product"

Technically I have been with Chorley less than 12 months - I've already sent off my form, cheque and passbook for the old account that matures at the end of October

glider3560

Does anyone know how Virgin's accounts mature at weekends?

My e-Issue 7 matures tomorrow (Saturday) and has already been converted to Easy Access E-Saver Reward 18. It's showing the interest under "Uncleared Transactions" and I already set up a withdrawal to go out on 20th (tomorrow).

How do they process payments at weekends? Is it likely I'll be waiting until Monday for the money?

guli

Try again, glider. It should work now

veryintrigued

guli wrote: »

Try again, glider. It should work now

Currently double checking again. We'll see what arrives.

Wheres_My_Cashback

£84.70 paid.....

glider3560

glider3560 wrote: »

Does anyone know how Virgin's accounts mature at weekends?

My e-Issue 7 matures tomorrow (Saturday) and has already been converted to Easy Access E-Saver Reward 18. It's showing the interest under "Uncleared Transactions" and I already set up a withdrawal to go out on 20th (tomorrow).

How do they process payments at weekends? Is it likely I'll be waiting until Monday for the money?

In my bank account now. Good to see they've still not fixed the double interest issue . I had monthly interest selected and received interest twice for the period 10th October to 19th October.