Regular Saver Thread **New and Restarted**

polymaff

fonesaver wrote: »

You would have thought after 170 years they would have learnt to calculate interest properly!

Which leaves one wondering if it really is their 170th.


Tricky calculation, that...:rotfl:

polymaff

20SmthngSver wrote: »

I don't see what the issue is? An approx. interest accrual is an approx. interest accrual. I know we all wanna max out the interest but some on here are so worried about be done out of a few pennies.

20SmthngSver wrote: »

Not in interest.

Better sometimes not to post and risk being thought uninformed than to post and thereby remove all uncertainty....:)

dcs34

So, as expected, a further reply from Saffron:

I have investigated this further and I do apologise, my below email and the projection on our website is incorrect, we are aware of this and are trying to get the website updated as soon as possible.

The correct estimated balance for the 170th birthday Regular Saver after the 12 month period, providing £1,000.00 is deposited into the account each calendar month would be £12,163.29.

And the website has now been fixed as well!

[Deleted User]

Hi Mee.

No restriction on online transfer. I transferred the total maturity amount of £3,043.33 to my Santander current account. I don't have the letter to hand but I think the £1000 limit refers to branch or agency withdrawals only.

mgarl10024

Deleted_User wrote: »

I think the £1000 limit refers to branch or agency withdrawals only.

Yep - depending on how long they've had your transfer bank details for...
https://www.ybs.co.uk/help/payment-guidance/payments-from-my-account.html

youngretired

Has anyone actually had their regular saver mature and how long for funds to reach their bank account?

I've had the paperwork in the post for mine that matures on the 20th, saying send the passbook back with a bank statement to show proof of ownership of the bank account that you want funds transferred to. Seems a bit extreme, so I've had to order a paper statement (otherwise has to be a certified copy) before being able to send the paperwork back.

JamesRobinson48

youngretired wrote: »

Has anyone actually had their regular saver mature and how long for funds to reach their bank account?

I've had the paperwork in the post for mine that matures on the 20th, saying send the passbook back with a bank statement to show proof of ownership of the bank account that you want funds transferred to. Seems a bit extreme, so I've had to order a paper statement (otherwise has to be a certified copy) before being able to send the paperwork back.

When I first opened the same Monmouthshire BS RSA almost one year ago, this BS made available a process to register with them upfront an approved personal bank account for future transfers on maturing deposits. That personal bank account has all along been visible to me online on my Monmouthshire profile. Since then I've taken one withdrawal by FP from another Monmouthshire deposit, which the BS processed quickly and efficiently. So I'm not anticipating any rigmarole when this RSA matures in three weeks.

pafpcg

JamesRobinson48 wrote: »

When I first opened the same Monmouthshire BS RSA almost one year ago, this BS made available a process to register with them upfront an approved personal bank account for future transfers on maturing deposits. That personal bank account has all along been visible to me online on my Monmouthshire profile. Since then I've taken one withdrawal by FP from another Monmouthshire deposit, which the BS processed quickly and efficiently. So I'm not anticipating any rigmarole when this RSA matures in three weeks.

I queried this by secure message with them yesterday:

"My account matures on Aug20th and I wish to withdraw the funds to my external bank account. The Maturity Options form says I need to provide documentation to prove its my account, but do I really need to send this as you've already verified the external bank account last September?"

and received the following response today:

"Thank you for your message and would confirm that we will not require any evidence from you for your bank account as long as the bank account that the funds are to be credited to are the same as your nominated bank account on My Accounts."

youngretired

Unfortunately I didn't connect any bank account with mine when opening the account and it seems to do so they still require the proof, so I might as well just send the proof with the closure instruction form, as I can't have any other accounts with them due to living in Kent and most accounts now have to be done within their postcode areas.

Rich2808

veryintrigued wrote: »

Did they ask you to explain your fraudulent application when you ticked the box that stated this account was solely for members with the listed post codes?

Or even close your existing account for wasting their staffs time?

I understand this is MSE but sometimes....

I am assuming there are no plans to relax this postcode business for the Saffron 170th birthday regular saver - even for long term members who live in their historic operating area?

I originally joined Saffron via their east London branch in Stratford when it was Saffron, Herts and Essex - which was relocated to an estate agent by Maryland station and closed a few years back. I have been a member for over 20 years but as I have a E postcode I am ineligible. Some places with E (east London) postcode are actually closer to their Brentwood or Ware branches by public transport/driving than some addresses with an IG or EN postcode which are eligible.

Is it my fault they shut their Stratford branch in E15 - and made me no longer 'a local'? Come on Saffron - reward your loyal customers and remember E postcode areas are historic Essex!! We are as Essex as people who live in Ilford or Barking. The EN postcode area covers parts of Barnet (Middlesex) which aren't part of historic Herts or Essex.

Surely there can't be that many members who can save £1,000 a month in a regular saver that would mean they couldn't also reward loyalty?

PS just joking - but it seems a bit harsh to exclude long term members who are still pretty local!