Regular Saver Thread **New and Restarted**

bristolleedsfan

Loughborough have been known previously to have a 3% variable rate regular saver account and then drop the rate to 1.5%, I guess is a case of enjoying 3% while it lasts and be prepared to close the account if/when rate plummets

Rich2808

glider3560 wrote: »

It says that on all their accounts.

It's possible to have an address in the local area, but not be a UK resident, so they're just excluding non-residents.

But why not say residing in our operating area. They will electronic check you as a new customer anyway.

The Mansfield - who have a 2.5% regular saver (inc a 1% bonus for year 1) - restrict this to "Available to savers aged 18 or over who are resident in Nottinghamshire, Derbyshire or South Yorkshire or existing members who have a minimum of 1 year continuous membership. Our savings accounts are only available to non-United Kingdom residents if they are already an existing member"

JamesRobinson48

Rich2808 wrote: »

But why not say residing in our operating area. They will electronic check you as a new customer anyway.

The Mansfield - who have a 2.5% regular saver (inc a 1% bonus for year 1) - restrict this to "Available to savers aged 18 or over who are resident in Nottinghamshire, Derbyshire or South Yorkshire or existing members who have a minimum of 1 year continuous membership. Our savings accounts are only available to non-United Kingdom residents if they are already an existing member"

Aha! So there is a way into the Mansfield BS RSA for those living outside the operating area. You first open another savings product with no location restriction (e.g. they currently have an acceptable range of fixed rate bonds with low minimum £), then wait a year.

Ed-1

JamesRobinson48 wrote: »

I contacted Loughborough about this over the weekend (maybe others did too), and already today the postcode restriction has been removed from the respective web page.

Has it?

Who can open a new account?
UK residents are able to open an account with us. There are age restrictions on some of our accounts and these are clearly marked on our product information. Our Savings accounts are only available to those in our local area (postcodes LE, NG, DE) or existing members.

Sea_Shell

Both our Monmouthshire passbooks came today, with the initial credit noted as 26th April. So good to go tomorrow??

veryintrigued

Sea_Shell wrote: »

Both our Monmouthshire passbooks came today, with the initial credit noted as 26th April. So good to go tomorrow??

That's our plan

quirkydeptless

My paperwork from Monmouthshire came Today allowing me to register online and I can now see my cheque for £300 was applied on the 24th, and I've got a SO set up for tomorrow.


So a pretty decent speed to process paper work and cheques so that I can do it electronically from now on.



I have a hunch they underestimated the popularity of this account, but if it is to raise profile for a centenary celebration, they've done a good job in my eyes :cool:

adindas

I managed to open it online and it now showing Instant Access
Regular Saver Issue 3 with interest rate of 0.05%.

I remember when I applied online it was showing something like 3% otherwise I would not bother to apply it. Is it because I have not funded it and the interest rate will change after I fun the account ??

MDMD

quirkydeptless wrote: »

I have a hunch they underestimated the popularity of this account, but if it is to raise profile for a centenary celebration, they've done a good job in my eyes :cool:

They are also launching a Monzo style current account

https://www.thetimes.co.uk/edition/money/150-year-old-mutual-takes-on-trendy-monzo-at-its-own-game-j0vgx0l29

polymaff

adindas wrote: »

I managed to open it online and it now showing Instant Access
Regular Saver Issue 3 with interest rate of 0.05%.

I remember when I applied online it was showing something like 3% otherwise I would not bother to apply it. Is it because I have not funded it and the interest rate will change after I fun the account ??

Read the T&Cs.

If your account falls below the minimum balance of £10, you will earn a fixed rate of 0.05% gross/AER*, until the account returns to the required minimum balance.