Regular Saver Thread **New and Restarted**

arsenalboy

Received maturity pack this morning.

They have an application form for members reg sav issue 2 but there appears to be a 1 month gap i.e., the existing issue matures at end of May but new issue doesn't start until 1st July, interest rate down to 2.5%.

The maximum monthly is down from 350 to 250 but the example of "estimated balance" is based on 350!!

Speculator

arsenalboy wrote: »

Received maturity pack this morning.

They have an application form for members reg sav issue 2 but there appears to be a 1 month gap i.e., the existing issue matures at end of May but new issue doesn't start until 1st July, interest rate down to 2.5%.

The maximum monthly is down from 350 to 250 but the example of "estimated balance" is based on 350!!

Got mine today too.

Odd that it starts on 1/7, not 1/6.

lots of mistakes on the form.

Says "based on the current rate of interest, if you deposited £250 per month into this account, at the end of the fixed rate period you would have £4615.94!"

[Deleted User]

Speculator wrote: »

Got mine today too.

Odd that it starts on 1/7, not 1/6.

lots of mistakes on the form.

Says "based on the current rate of interest, if you deposited £250 per month into this account, at the end of the fixed rate period you would have £4615.94!"

Not got my maturity pack yet. Mail slow up here.

Will we be able to hold them to that maturity figure?

karlie88

Speculator wrote: »

Odd that it starts on 1/7, not 1/6

Probably due to workload.

Imagine a small-ish BS having to deal with hundreds/thousands of maturing instruction forms/passbooks/cheques and at the same time deal with applications for their fairly competitive reg saver starting the next day.

They've spaced out their workload this way. Good approach by them. Not so good for us.

:eek:

polymaff

A word of warning about the resuscitated Halifax "Nominate" procedure for rolling on a maturing regular saver.

You can't do it online. You can't nominate a bank account as the repository for the maturing funds and interest. You won't be asked if your SO for the maturing account is non-expiring or, has, in fact expired.

And, finally, if it has expired, you'll be advised to set up a new one asap and make it a non-expiring one.

Then - when you've finally clambered all the way through that, if you are like me - someone who has advanced the monthly payment date of the previous RS to the first day of the month in order to earn more interest - the Halifax will accept the SO instruction for, in my case, today but when you next log in you'll see that the SO payment for the first of the new year's RS has been paid over - then bounced back as you've already made a May payment - in the last RS year.

Grrrrr.

veryintrigued

arsenalboy wrote: »

Received maturity pack this morning.

They have an application form for members reg sav issue 2 but there appears to be a 1 month gap i.e., the existing issue matures at end of May but new issue doesn't start until 1st July, interest rate down to 2.5%.

The maximum monthly is down from 350 to 250 but the example of "estimated balance" is based on 350!!

The forms for closing a matured account and opening a new one even for existing customers are a real pain!

vermania

arsenalboy wrote: »

They have an application form for members reg sav issue 2 but there appears to be a 1 month gap i.e., the existing issue matures at end of May but new issue doesn't start until 1st July, interest rate down to 2.5%.

Speculator wrote: »

Odd that it starts on 1/7, not 1/6.

I got this letter today too. The copy and paste job has not quite worked as planned, but the month gap is repeated so many times it's unambiguous. Presumably they accumulate the paperwork and cheques arising from this account's maturity, and then pay them all in for the new account to open on 01/07. Has anyone heard firsthand what their procedure will be?

ctdctd

polymaff wrote: »

A word of warning about the resuscitated Halifax "Nominate" procedure for rolling on a maturing regular saver..........
.
.
.

Then - when you've finally clambered all the way through that, if you are like me - someone who has advanced the monthly payment date of the previous RS to the first day of the month in order to earn more interest - the Halifax will accept the SO instruction for, in my case, today but when you next log in you'll see that the SO payment for the first of the new year's RS has been paid over - then bounced back as you've already made a May payment - in the last RS year.


Grrrrr.

Same with Club Lloyds - mine matured on April 12th so I set up a new S/O - the April payment was accepted but the May 1st one bounced back - only noticed today. :mad:

ashteadgirl

Spoke to CBS on Friday.
You can send maturity instructions and application for new members reg sav issue 2 to start 1st july with postdated cheque dated 1st July to fund new saver. Start date of 1st July is CORRECT, confirmed that max funding per month £250 and letter stated WRONG maturing value (shame!!)
Unable to fund new account from maturing account.
Hope this helps.

Special_Saver2

Hi Folks,

I cannot see anything that has changed this week.

I will do another update next weekend.

SS2

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