Regular Saver Thread **New and Restarted**

JamesRobinson48

heathrow wrote: »

On the Virgin Regular Saver 14, presumably one can make 14 months payments - i.e. December 2018, Jan-Dec 2019 and then early Jan 2020?

Actually the T&Cs appear slightly ambiguous. Unlike previous "store" RSAs which matured on the 1st of a calendar month, this one matures on the 20th (similar to the eRSAs), so presumably it could make sense to pay in a final £250 on 1st January 2020. That would bring maximum total payments to 14*£250=£3500, from Dec-2018 to Jan-2020 inclusive. Now, is that allowed or not? The T&Cs say "Maximum deposit limit £3,250 a year".That "year" can't mean "calendar year", as there is anyway a calendar monthly limit of £250. So I imagine that "year" means "any consecutive period of 365 days". If so, paying in £250 next week and then £250 on the 1st of each of the next 13 months should not break any rules. But I'll defer to wiser heads, and also possibly ask them in "store" at my appointment on Monday.

Vortigern

heathrow wrote: »

On the Virgin Regular Saver 14, presumably one can make 14 months payments - i.e. December 2018, Jan-Dec 2019 and then early Jan 2020?

The 14th payment would earn about 41p interest.

Is it worth bending the rules for 41p?

schiff

Based on many responses over time, 41p is verging on being considered as substantial.

typistretired

When he told them that he still wanted to proceed with his complaint as he felt offended even if it was, as they said not an error but the bank's procedure. They were quite irritated as they wanted to close the complaint, so asked him twice if he wanted the complaint accelerated. He insisted he did, he was informed it would take 8 weeks. Like everyone else he received an email asking him about funding his monthly saver

karlie88

schiff wrote: »

Based on many responses over time, 41p is verging on being considered as substantial.

Relentless pursuit of pennies.

It's just a shame we can't earn 6% on the VM branch reg savers. Or can we?

studentsaver_88

Do tell :j

karlie88

studentsaver_88 wrote: »

Do tell :j

By asking your branch to remain open until approx. 9pm on the day before maturity. :eek::rotfl:

Ed-1

karlie88 wrote: »

By asking your branch to remain open until approx. 9pm on the day before maturity. :eek::rotfl:

I've never bothered with these Virgin accounts but take it the branch versions can't be operated online (and so the loophole of double interest getting credited online can't be exploited?)

karlie88

Ed-1 wrote: »

I've never bothered with these Virgin accounts but take it the branch versions can't be operated online (and so the loophole of double interest getting credited online can't be exploited?)

Unfortunately not Ed.

On that note I will see some of you on the evening of 19th Dec.

Frogletina

I opened my Virgin regular saver 14 in branch this afternoon at 2pm.

The advisor said he thought it was possible to make 14 payments into the account as the final date was 20th January, however the details on the Key Product Information leaflet contradicts this.

I imagine that there is a template for these leaflets, with just the figures changed, and that an error has been made.

Hopefully we will get clarification soon - but as pointed out it's just a difference of 41p.

frogletina