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Regular Saver Thread **New and Restarted**

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  • schiff
    schiff Posts: 20,267 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    What a pig this new MSE is! I composed something in reply to polymaff in the normal way I was familiar with and it has not turned up; and it's too long to re-write. Ignore the last two of mine 

  • soulsaver
    soulsaver Posts: 6,619 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 12 February 2020 at 12:27PM
    schiff said:
    What a pig this new MSE is! I composed something in reply to polymaff in the normal way I was familiar with and it has not turned up; and it's too long to re-write. Ignore the last two of mine 

    Is it this:
    I've got one of these Builder accounts - to pay off a stooz in October 2021. I've not fully researched it yet but they have well-defined dates from which a month runs to and from. By withdrawing the bulk of the balance the day after the monthly interest is credited, waiting a month and re-depositing I think you can keep it going, only sacrificing a month's interest, which I assume you will be able to claw back the bulk of the loss in an account paying 1% to 1.3% where you store the withdrawn funds.

  • soulsaver
    soulsaver Posts: 6,619 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Move the cursor outside the quote box... I don't know why it defaults to inside.
  • schiff
    schiff Posts: 20,267 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    soulsaver said:
    Move the cursor outside the quote box... I don't know why it defaults to inside.
    Thank you lol
  • polymaff
    polymaff Posts: 3,950 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 12 February 2020 at 12:59PM
    soulsaver said:
    schiff said:
    What a pig this new MSE is! I composed something in reply to polymaff in the normal way I was familiar with and it has not turned up; and it's too long to re-write. Ignore the last two of mine 

    Is it this:
    I've got one of these Builder accounts - to pay off a stooz in October 2021. I've not fully researched it yet but they have well-defined dates from which a month runs to and from. By withdrawing the bulk of the balance the day after the monthly interest is credited, waiting a month and re-depositing I think you can keep it going, only sacrificing a month's interest, which I assume you will be able to claw back the bulk of the loss in an account paying 1% to 1.3% where you store the withdrawn funds.


  • schiff
    schiff Posts: 20,267 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Not if closure is the day of the interest credit, or the day after.
  • schiff
    schiff Posts: 20,267 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Monthly cycle: closure of business on the 2nd last day business day of month one, to close of business on the 2nd last day business day of month two.
    Interest paid on the first working day of the month.
    Roughly from the T&Cs


  • I am opening a regular saver account by post as the nearest branch is too far to drive. They have asked for for a copy of my passpost as proof of ID. I am concerned about posting a copy of my passport. any suggestions how I can protect myself in the event of the application going astray whilst meeting the ID requirements.
  • karlie88
    karlie88 Posts: 9,114 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 12 February 2020 at 10:04PM
    I am opening a regular saver account by post as the nearest branch is too far to drive. They have asked for for a copy of my passpost as proof of ID. I am concerned about posting a copy of my passport. any suggestions how I can protect myself in the event of the application going astray whilst meeting the ID requirements.
    Original passport or certified copy of passport?
    If former, then Royal Mail Special Delivery. Signed For is a cheaper option but comes with less insurance. Building Society will probably post it back via standard mail though.
    If latter, get it certified at a Post Office or a solicitor. For guidance my solicitor charges £10 per document.
    Obviously these costs should be factored in when opening a RS.
    :grouphug: :D Official MSE canny forumite and HUKD VIP badge member :D :grouphug:
  • colsten
    colsten Posts: 17,597 Forumite
    10,000 Posts Seventh Anniversary Photogenic Name Dropper
    karlie88 said:
    I am opening a regular saver account by post as the nearest branch is too far to drive. They have asked for for a copy of my passpost as proof of ID. I am concerned about posting a copy of my passport. any suggestions how I can protect myself in the event of the application going astray whilst meeting the ID requirements.
    Original passport or certified copy of passport?
    If former, then Royal Mail Special Delivery. Signed For is a cheaper option but comes with less insurance. Building Society will probably post it back via standard mail though.
    If latter, get it certified at a Post Office or a solicitor. For guidance my solicitor charges £10 per document.
    Obviously these costs should be factored in when opening a RS.
    The cost of that will eat into the yield of your account. Have you exhausted all the RSs you can open online?
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