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Regular Saver Thread **New and Restarted**
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This was my first saver with Virgin, the paperwork was at home but my impression was that it was one per person at any one time
Just pulled this off their website
Only one account can be opened per customer per issue.
So you're nearly there except the "per issue" part - you can only open one "Issue 15 regular saver" but if you have a Issue 14, that's a different product, so you can have a 15 as well. And a 16 when/if they come out.(Although I could be wrong, I often am.)0 -
Just pulled this off their website
Only one account can be opened per customer per issue.
So you're nearly there except the "per issue" part - you can only open one "Issue 15 regular saver" but if you have a Issue 14, that's a different product, so you can have a 15 as well. And a 16 when/if they come out.
As I said, it was just the impression I got that you could only have one regular saver but who knows, maybe I misheard, maybe staff were wrong. I decided I don't have enough spare cash to have any more RS at the moment as I have the equivalent of 2/3 of my take home salary going to savers / ISA so I'll just stick with the 3 and start next year when the Leeds one maturesSam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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The question of whether or not to open more RS accounts shouldn't normally be affected by whether or not you have spare cash to fund them.As I said, it was just the impression I got that you could only have one regular saver but who knows, maybe I misheard, maybe staff were wrong. I decided I don't have enough spare cash to have any more RS at the moment as I have the equivalent of 2/3 of my take home salary going to savers / ISA so I'll just stick with the 3 and start next year when the Leeds one matures
The first thing to consider is whether a new RS account offers a better rate of interest than any of your current ones.
The second thing to consider is whether a new RS account would run for a longer term than your current ones.
So, for example, if you have a Virgin RS14 @3% the maturity date is 20 January 2020. The issue 15 matures on 1 March 2020. If you can only afford to save £250 this month then it makes more sense to put it into an issue 15 account rather than issue 14 because the same money would be earning 3% for an additional 39 days. (At a guess issue 16 will mature around 1 May 2020, so the additional number of days increases even more)
To earn the most interest the aim should be to have enough RS accounts with maturity dates spread throughout the year so that as much of your savings as possible are held in the highest interest paying accounts for as long as possible.
The same considerations apply to all RS accounts, not just Virgin ones. (Virgin just happen to be generous when it comes to their T&C's
) "In the future, everyone will be rich for 15 minutes"0 -
The question of whether or not to open more RS accounts shouldn't normally be affected by whether or not you have spare cash to fund them.
The first thing to consider is whether a new RS account offers a better rate of interest than any of your current ones.
The second thing to consider is whether a new RS account would run for a longer term than your current ones.
So, for example, if you have a Virgin RS14 @3% the maturity date is 20 January 2020. The issue 15 matures on 1 March 2020. If you can only afford to save £250 this month then it makes more sense to put it into an issue 15 account rather than issue 14 because the same money would be earning 3% for an additional 39 days. (At a guess issue 16 will mature around 1 May 2020, so the additional number of days increases even more)
To earn the most interest the aim should be to have enough RS accounts with maturity dates spread throughout the year so that as much of your savings as possible are held in the highest interest paying accounts for as long as possible.
The same considerations apply to all RS accounts, not just Virgin ones. (Virgin just happen to be generous when it comes to their T&C's)
I have the 5% Santander one, 3% Virgin and the Leeds one + £200 a month into an S&S ISA. I'm not really fussed about the 0.7% difference on a £250 a month saver and I think having over 2/3 of my take home pay going out into saving plans is a bit risky even with the money sloshing in and out as plans mature. The other money is in the Santander 123 so at least earns 1.5%Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Ipswich Building Society Smart Saver
Says in OP that it can be opened by Post, but I can't see a form on their website? Anyone know where savings forms applications are?0 -
Ipswich Building Society Smart Saver
Says in OP that it can be opened by Post, but I can't see a form on their website? Anyone know where savings forms applications are?
https://www.ibs.co.uk/images/documents/savings-investment/INV3_Investment_App.pdf0 -
Ipswich Building Society Smart Saver
Says in OP that it can be opened by Post, but I can't see a form on their website? Anyone know where savings forms applications are?
From here .
https://www.ibs.co.uk/savings-products/smart-save-monthly-2
I am fully aware that this account is only for UK resident in postcode areas IP, NR, CO, CM, CB and PE only. It is also stated from SS2 p1.
I remember I tried about a year ago to apply by post. My application got returned to me.
Has anyone who are not in those postcodes tried to send their application by post recently and get approved ??0 -
Thank you.0 -
From here .
https://www.ibs.co.uk/savings-products/smart-save-monthly-2
I am fully aware that this account is only for UK resident in postcode areas IP, NR, CO, CM, CB and PE only. It is also stated from SS2 p1.
I remember I tried about a year ago to apply by post. My application got returned to me.
Has anyone who are not in those postcodes tried to send their application by post recently and get approved ??
If you're not in one of their designated post codes, that is why it was returned. I do live in one of their designated post codes.0
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