Regular Saver Thread **New and Restarted**

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.

adindas

MDMD wrote: »

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

[FONT=&quot]What was announced so far was the technological side to let people tracking their spending.[/FONT]

[FONT=&quot]But did people subscribe to digital banking like Monzo, Revolut because they want to keep tracking where the money go or because of their perk for withdrawal and/or purchase in foreign currency?[/FONT]

pearl123

A stupid question perhaps. If a cheque was credited for the end of the month does the standing order need to be the same date. Or can it be any day in the month.

Section106

pearl123 wrote: »

A stupid question perhaps. If a cheque was credited for the end of the month does the standing order need to be the same date. Or can it be any day in the month.

It depends on the account.

If you are talking about the Monmouthshire Celebration RS then the second and subsequent payments can go in on any day of the month. So you don't have to wait for the end of the month for your SO.

In fact you could make the second month's contribution by faster payment today, which is what I'll be doing later this afternoon.

Some accounts (e.g Santander, M&S, HSBC) insist on the SO payment date being on the same day of the month, or won't give you extra interest if you pay in early.

typistretired

Your faster payment or standing order does not show until the next day with Monmouthshire BS as per their FAQ's.

"As we are a building society not a bank, all electronic payments are first received by our bank account. We then have to wait for these to be uploaded to our customers’ accounts, which is done each day before we open for business at 9am. If you are a registered ‘My Accounts’ user, it may be that this upload was done after this service was updated in the early hours of the morning. Please be assured, that although there may be a delay in the payment being available for updating on your passbook, or being viewed via 'My Accounts', it will have been credited to your account as at the date it reached our bank account and that interest will be accrued based on that date."

Saffron BS, YBS, Leeds BS are all building societies but todays payments are showing.

quirkydeptless

typistretired wrote: »

Saffron BS, YBS, Leeds BS are all building societies but todays payments are showing.

Yes, not to do with being a Building Society or a Bank, but whether it goes through a holding account - i.e. Monmouthshire goes through their holding account with HSBC, and you have to add your account as a reference, hence the delay, and some Banks do this too, generally the challenger banks that don't offer current accounts.


N.B. I'm not a expert on this, just my observation.

typistretired

quirkydeptless wrote: »

Yes, not to do with being a Building Society or a Bank, but whether it goes through a holding account - i.e. Monmouthshire goes through their holding account with HSBC, and you have to add your account as a reference, hence the delay, and some Banks do this too, generally the challenger banks that don't offer current accounts.


N.B. I'm not a expert on this, just my observation.

Thank you for explaining. Yesterday's payment showing in account now with yesterday's date.

SuperHans1

Issue 16 of the Virgin Money Regular Saver has a maturity date of 1 May 2020. When would we typically expect to see the next issue released?

xylophone

When would we typically expect to see the next issue released?

If the pattern continues, I'd guess early June.