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Regular Saver Thread **New and Restarted**

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Comments

  • pafpcg
    pafpcg Posts: 931 Forumite
    Tenth Anniversary 500 Posts Name Dropper
    schiff wrote: »
    From a branch manager:
    'When RS4 matures its likely to transfer into an instant access account….When the final decision has been our Savings department will write to you with the options available'

    "When RS4 matures ..."? But Issue 4 never matures! I've checked the T&Cs for Issue4 and it doesn't have any mention of maturity (I've even run a word search).

    But it doesn't stop LeedsBS from deciding at any time that Issue4 no longer brings them a net benefit and gives us notice that the account will be closed (which is probably what the branch manager really meant).
  • mhoc
    mhoc Posts: 19,305 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    pafpcg wrote: »
    "When RS4 matures ..."? But Issue 4 never matures! I've checked the T&Cs for Issue4 and it doesn't have any mention of maturity (I've even run a word search).

    But it doesn't stop LeedsBS from deciding at any time that Issue4 no longer brings them a net benefit and gives us notice that the account will be closed (which is probably what the branch manager really meant).

    possibly when a sufficient number of Leeds regular savers 4 are nearing the maximum £6 thousand mark so people are starting to do withdrawal to keep below this maximum- what a building society does not want is people doing withdrawals.
    And/or reducing their standing orders downwards or down to the minimum £50 a month going in. So the accounts are not getting the income so again less attractive on their balance sheets ...
    Possibly that's when they might decide that the RS4 is no longer a going concern...
    “Create all the happiness you are able to create; remove all the misery you are able to remove. Every day will allow you, --will invite you to add something to the pleasure of others, --or to diminish something of their pains.”
  • bristolleedsfan
    bristolleedsfan Posts: 12,654 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 9 July 2018 at 8:41PM
    mhoc wrote: »
    Possibly that's when they might decide that the RS4 is no longer a going concern...


    And then everyone who holds RS4 will be doing even higher level of withdrawals than you earlier described with no standing order credits going in. :rotfl::rotfl::rotfl:
  • aj23_2
    aj23_2 Posts: 1,155 Forumite
    1,000 Posts Third Anniversary Name Dropper Combo Breaker
    edited 12 July 2018 at 11:31AM
    Leeds BS have a new issue 17 and they've lowered the rate back to what it used to be. Nottingham BS have a new Sunshine RS which is good as it's more than 12 months.
  • mhoc
    mhoc Posts: 19,305 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    aj23 wrote: »
    Leeds BS have a new issue 17 and they've lowered the rate back to what it used to be. Nottingham BS have a new Sunshine RS which is good as it's more than 12 months.

    "Note that you can only have one Regular Saver (Issue 17) at a time (including joint accounts).
    Please note that you cannot open a Regular Saver (Issue 17) if you already have a Regular Saver product with the Society, with the exception of Regular Saver (Issue 4). If you have one of these accounts and open the Regular Saver (Issue 17), the money deposited in the Regular Saver (Issue 17) account will be transferred to an instant access account."

    So you cant have a regular saver 16 and a regular saver 17 as well

    But you can have a regular saver 4 as well as a reg saver 17 (or 16)
    “Create all the happiness you are able to create; remove all the misery you are able to remove. Every day will allow you, --will invite you to add something to the pleasure of others, --or to diminish something of their pains.”
  • glider3560
    glider3560 Posts: 4,115 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    aj23 wrote: »
    Leeds BS have a new issue 17 and they've lowered the rate back to what it used to be. Nottingham BS have a new Sunshine RS which is good as it's more than 12 months.
    https://forums.moneysavingexpert.com/showpost.php?p=74481454&postcount=855

    https://forums.moneysavingexpert.com/showpost.php?p=74455236&postcount=848
  • aj23_2
    aj23_2 Posts: 1,155 Forumite
    1,000 Posts Third Anniversary Name Dropper Combo Breaker
    glider3560 wrote: »
    https://forums.moneysavingexpert.com/showpost.php?p=74481454&postcount=855

    https://forums.moneysavingexpert.com/showpost.php?p=74455236&postcount=848

    But I already know this. Lol.

    I wrote it here because the info on the first page needs updating.
  • aj23_2
    aj23_2 Posts: 1,155 Forumite
    1,000 Posts Third Anniversary Name Dropper Combo Breaker
    mhoc wrote: »
    It was a helpful post just incase anyone was thinking that they may be able to open a new leeds regular saver.

    Apologies if it caused any offense or annoyance

    It didn't cause offence. I just didn't see the relevance. I wasn't asking about how many I could hold at the same time. I was simply stating that these are two new issues so that page 1 could be updated.
  • mhoc
    mhoc Posts: 19,305 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    aj23 wrote: »
    But I already know this. Lol.

    I wrote it here because the info on the first page needs updating.

    and the kind person who does the updating is away on holiday
    “Create all the happiness you are able to create; remove all the misery you are able to remove. Every day will allow you, --will invite you to add something to the pleasure of others, --or to diminish something of their pains.”
  • aj23_2
    aj23_2 Posts: 1,155 Forumite
    1,000 Posts Third Anniversary Name Dropper Combo Breaker
    mhoc wrote: »
    and the kind person who does the updating is away on holiday

    That's cool. I don't know that. I just left a comment with an update to account info so it can be updated as and when.
This discussion has been closed.
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