Regular Saver Thread **New and Restarted**

Gers

JamesRobinson48 wrote: »

Virgin Money e-RS 13



That does the trick for me! Opened and funded.

Me too! Hobbled into town to close the store account. Now opened the new online one.

Last year I had 14 RS accounts, now down to six. Different times indeed.

bristolleedsfan

schiff wrote: »

No.

And it's Friday

First class post tends to arrive next day, except when account closures by cheque are concerned it seems, Progressive B.S cheque took 3 days to arrive and I am only 30 miles away from Chorley which indicates missed last post yesterday if sent 1st class.

Hydro1

Virgin say the new Regular Saver will attract £43.75 interest after 14 monthly deposits of £250. Where am I going wrong when I calculate that money would be better off earning 1.45% in a Marcus account for 14 months?

veryintrigued

bristolleedsfan wrote: »

Has anyone received Chorley BS regular saver maturity funds by cheque today please ?

Not yet....it's only the first.

quirkydeptless

Hydro1 wrote: »

Virgin say the new Regular Saver will attract £43.75 interest after 14 monthly deposits of £250. Where am I going wrong when I calculate that money would be better off earning 1.45% in a Marcus account for 14 months?

See 'Don't believe the bad press' here https://www.moneysavingexpert.com/savings/best-regular-savings-accounts/

Placitasgirl

I was at the VM Lounge today where staff told me they were having a hectic day as customers were coming in to update their passbooks with interest paid 31/10 or to open a RS Issue 19 (In Branch only) as they are being withdrawn today, although customers with pre-arranged interviews over the weekend will still be able to open one.

I've just opened an E-Saver Issue 13 online, no issues at all as an existing customer and it's funded with my first £250.00

schiff

My main current account that I need for pretty much everything pays 1.2% net of tax; I've got a 120-day notice account paying 1.44% net.
The new Virgin RS pays 1.6% net of tax.

Faced with those figures the effort, admittedly not a lot, in running the new RS is not worth it.

To me anyway.

colsten

bristolleedsfan wrote: »

Has anyone received Chorley BS regular saver maturity funds by cheque today please ?

I have called them this morning and was told they will be starting to action the maturity requests today. As of right now, my account still shows online, with the full balance (interest has been added since this morning, with effective date yesterday), and now 0.6% AER. The account has also been renamed into Chorleian Share. The cheques should be arriving in due course.....All very quaint......

Hydro1 wrote: »

Virgin say the new Regular Saver will attract £43.75 interest after 14 monthly deposits of £250. Where am I going wrong when I calculate that money would be better off earning 1.45% in a Marcus account for 14 months?

I don't know where you are going wrong as it seems obvious that if money earns 2% AER rather than 1.45% AER, the 2% AER would give a better return. Do the maths.

surreysaver

Hydro1 wrote: »

Virgin say the new Regular Saver will attract £43.75 interest after 14 monthly deposits of £250. Where am I going wrong when I calculate that money would be better off earning 1.45% in a Marcus account for 14 months?

The same amount in Marcus would earn £31.71, which is less than £43.45. How are you doing your calculation?

Erik_V_EyeKing

I've just opened one of these & it now states the rate is 1.40%.

Am I missing something (other than 0.6%)?