Regular Saver Thread **New and Restarted**

colsten

wakeupkadeem wrote: »

I was thinking the same. There's a lot going on here. Also I was wondering if anyone is using any platforms like payleaf.com to help them save/ generate income? Also I was reading someone had suggestions on other banks with over a one percent interest rate??

This thread is about Regular Saver accounts only, and UK accounts only.

JamesRobinson48

I had a letter today from Norwich & Peterborough about the imminent discontinuance of their brand. Evidently it won't be possible to open an N&P Regular Saver after 10th May (So, last chance to shelter £500 per month for 2 years @ variable 2% p.a.!). Account holders will receive a replacement (Yorkshire Building Society) account number in June. From 9th July, holders of a legacy N&P RS will be able to see that replacement account in YBS online. They also say that Standing Orders will be rerouted automatically, but I'm not sure I'll leave that to chance.

veryintrigued

JamesRobinson48 wrote: »

I had a letter today from Norwich & Peterborough about the imminent discontinuance of their brand. Evidently it won't be possible to open an N&P Regular Saver after 10th May (So, last chance to shelter £500 per month for 2 years @ variable 2% p.a.!). Account holders will receive a replacement (Yorkshire Building Society) account number in June. From 9th July, holders of a legacy N&P RS will be able to see that replacement account in YBS online. They also say that Standing Orders will be rerouted automatically, but I'm not sure I'll leave that to chance.

So those of us already with a York's RS will end up with two?

soulsaver

JamesRobinson48 wrote: »

I had a letter today from Norwich & Peterborough about the imminent discontinuance of their brand. Evidently it won't be possible to open an N&P Regular Saver after 10th May (So, last chance to shelter £500 per month for 2 years @ variable 2% p.a.!). Account holders will receive a replacement (Yorkshire Building Society) account number in June. From 9th July, holders of a legacy N&P RS will be able to see that replacement account in YBS online. They also say that Standing Orders will be rerouted automatically, but I'm not sure I'll leave that to chance.

Currently, open in branch only.

https://www.nandp.co.uk/savings/

10_66

Previous years' issues have permitted you to change the standing order date after (at least) the second standing order payment has been made (so effectively after the third payment). I've had a look at the terms and conditions of it for this year and can't find this statement anymore. Does anyone know for sure if they've changed it so that it can no longer be done? I would ask them, but find that they don't always give accurate information :undecided

Westie983

10_66 wrote: »

Previous years' issues have permitted you to change the standing order date after (at least) the second standing order payment has been made (so effectively after the third payment). I've had a look at the terms and conditions of it for this year and can't find this statement anymore. Does anyone know for sure if they've changed it so that it can no longer be done? I would ask them, but find that they don't always give accurate information :undecided

Yes this is fine as long as you only pay in the increased amount that would be in the account at that month increasing by £250 a month.

Its FD that doesnt allow you to change the payment date so you have to open the regular saver on the date you want the SO to go out.

HSBC is fine, I have changed mine in Date and amount often, depending on where I have spare money to fill it up.

Westie983

10_66

Westie983 wrote: »

Yes this is fine as long as you only pay in the increased amount that would be in the account at that month increasing by £250 a month...

...HSBC is fine, I have changed mine in Date and amount often, depending on where I have spare money to fill it up.

Thank you. I've always done this, but the terms and conditions wording seem to have changed this year, so just thought I'd better check.

polymaff

Westie983 wrote: »

HSBC is fine, I have changed mine in Date and amount often, depending on where I have spare money to fill it up.

Huh! So did I - but it didn't generate any extra interest when I brought the date forward.

AirlieBird

10_66 wrote: »

Previous years' issues have permitted you to change the standing order date after (at least) the second standing order payment has been made (so effectively after the third payment). I've had a look at the terms and conditions of it for this year and can't find this statement anymore. Does anyone know for sure if they've changed it so that it can no longer be done? I would ask them, but find that they don't always give accurate information :undecided

The terms seem pretty clear to me.

After the first payment into the account you must make 11 more payments on the same date each month by standing order from a qualifying current account.

(bolding mine)

10_66

AirlieBird wrote: »

The terms seem pretty clear to me.

Quote:
After the first payment into the account you must make 11 more payments on the same date each month by standing order from a qualifying current account.

Yes, that's what I mean, I can't find what they have previously stated, that is that you could change the standing order date after the second standing order payment had been taken (which would be the third payment). The above statement would suggest that you can no longer do that.