Regular Saver Thread **New and Restarted**

schiff

karlie88 wrote: »

Add to that some providers offering decent regular savings once in a blue moon or ones that are restricted to local/branch only - e.g. Ford Money, Chorley BS, Principality BS, Nottingham BS, Kent Reliance, Saffron...so there's still a strong market out there.

Saffron have an excellent system for rolling over a matured RS into a new one and FPing the net balance, and all by post. Kent Reliance don't. I opened mine on a visit to London a year ago, I'm getting my funds by BACS but, though they have had all my ID and seen me face to face, they won't open a new RS without a visit to a branch. I was told that account in particular is aimed at local people, unlike their other accounts that can be opened online!

gardner1

adindas wrote: »

Well, I understand 3% only if you were applying before January 2018 using a code. For a new application, it starts with 0% (?) and will only increase by 1% through RAF.

The main problem is that:
- You will need to give access to the apps to analyse your account.
- It is not covered by FSCS.

https://skintdad.co.uk/chip-app-review-automatic-savings/
Still 3% or £10

adindas

karlie88 wrote: »

The big bonus of these local/branch only regular savers is that they have historically released highly competitive rates over a number of years (Saffron and Kent Reliance being two that come to mind). So once you're in, you're part of the club and can open new regular savers by post. :cool:

I do not know about other people experience but from my personal experience, Kent Reliance will not allow you to open a branch base RSA by post even you are already a member of the society for many years. Even you want to close your account and open a new one they will still require you to go to the branch.

adindas

gardner1 wrote: »

https://skintdad.co.uk/chip-app-review-automatic-savings/
Still 3% or £10

Did you notice that the article was written 17TH OCTOBER 2017 e.g it is still before January 2018.

I am talking after January 2018.

EachPenny

schiff wrote: »

Saffron have an excellent system for rolling over a matured RS into a new one and FPing the net balance, and all by post.

Completely agree, they even keep the account number the same so there is no need to close the old one and open yet another account.

However, they are (like Virgin) suffering with a systems bug on the maturity date which requires someone to manually add the final day's worth of interest to the account. If you see a mysterious addition of about 25 pence on the maturity date then this is why it is there.

karlie88

schiff wrote: »

Kent Reliance don't. I opened mine on a visit to London a year ago, I'm getting my funds by BACS but, though they have had all my ID and seen me face to face, they won't open a new RS without a visit to a branch. I was told that account in particular is aimed at local people, unlike their other accounts that can be opened online!

adindas wrote: »

I do not know about other people experience but from my personal experience, Kent Reliance will not allow you to open a branch base RSA by post even you are already a member of the society for many years. Even you want to close your account and open a new one they will still require you to go to the branch.

I'm not going to name names but there's one person who does this for me. To be honest, I don't want to jeopardise my future applications so I'll end the conversation here. It did slip my mind when typing that the above is not the case with KRBS.

Nottingham BS also allowed me to do this with various 'branch only' accounts but then they stopped it as I hadn't visited their branch for a few years.

I always ask when I'm in branch whether they're able to open next year's regular saver via post - majority say no as per their T&Cs. But if they're happy to then I'll take them up on their offer. They do still ask for a photocopy of driver's licence, recent statement etc.

As my mother always says, 'if you don't ask, you don't get'.

schiff

My chances of getting to the Virgin store tomorrow to collect the proceeds of the maturing RS are slowly diminishing by the snowflake

Gavbr210

Hi.... not sure if im in the right place.

I have opened a fixed saver through Atom bank. I was aware that I couldnt take the money out (MSE warning) but the MSE site didnt advise that the bank is a one time deposit.... Now I cannot add to the funds or remove them... Is there any way I can get my money back?... The bank says no.

Thank you.

polymaff

Gavbr210 wrote: »

I have opened a fixed saver through Atom bank. I was aware that I couldnt take the money out (MSE warning) but the MSE site didnt advise that the bank is a one time deposit.... Now I cannot add to the funds or remove them... Is there any way I can get my money back?... The bank says no.

"Once your account is open you've got until 9pm on the same day of the following week to add your funds"

But if you want to deposit more, you could open up another fixed saver.

Big_W

adindas wrote: »

VM matchday saver Branch is mature on 01/03/2018
Could you close the account and take all of the balance on 01/03/2018 or it has got to be the following working day (e.g Friday 02/03/2018)?

Thanks

You can close them whenever you like and still get the interest up to the day you closed it. As the Virgin branches are not very convenient for me I usually end up closing the branch accounts about a week before maturity when I'm in town for something else. No penalty for this.

If you do actually close your account on the 1st do let us know what happened with your interest - wonder if the interest glitch applies to branch accounts as well as on line....