How many Regular Savings Accounts do you have?

aj23_2

IanManc wrote: »

The Leeds RS Issue 4 never had a maturity date - when it was introduced it had a maximum balance of £6000, and no time limit on how long you could take to get there.

Well it did in a sense, because it had a maximum balance of £6000. I reached that last month. After that, as will now happen in February, it automatically transfer into an easy access account paying about 0.5%. But let's be real, they weren't going to let someone pay in £50 a month for 10 years.

aj23_2

karlie88 wrote: »

Likewise. :rotfl:

But it's you who always replies to me HA

karlie88

aj23 wrote: »

But it's you who always replies to me HA

:T:rotfl::T

IanManc

aj23 wrote: »

Well it did in a sense, because it had a maximum balance of £6000. I reached that last month. After that, as will now happen in February, it automatically transfer into an easy access account paying about 0.5%. But let's be real, they weren't going to let someone pay in £50 a month for 10 years.

No, it didn't have a maturity date in any sense.

aj23_2

IanManc wrote: »

No, it didn't have a maturity date in any sense.

Well it did, because when you reached the max it matured into an easy access. Like my paperwork says it will in February. Ha. :rotfl:

EachPenny

aj23 wrote: »

Well it did, because when you reached the max it matured into an easy access. Like my paperwork says it will in February. Ha. :rotfl:

No. Because if you'd read the T&C's paperwork properly when you originally got it (or followed the advice on this site), then you'd have known you could make a withdrawal when your balance was approaching the max, and give yourself a further year of paying in £50 per month... repeat ad infinitum, or until Leeds changed the T&C's (as they now have).

This is what IanManc is alluding to.

I would say "Ha!". But that would be childish and petty.

aj23_2

EachPenny wrote: »

No. Because if you'd read the T&C's paperwork properly when you originally got it (or followed the advice on this site), then you'd have known you could make a withdrawal when your balance was approaching the max, and give yourself a further year of paying in £50 per month... repeat ad infinitum, or until Leeds changed the T&C's (as they now have).

This is what IanManc is alluding to.

I would say "Ha!". But that would be childish and petty.

The T+C's doesn't actually say that. It only says the balance couldn't exceed £6000, else 0.5% would apply to the whole balance. They didn't write anything encouraging you to withdraw £600 and add £50 a month back. And clearly they didn't want that because they've changed the rules of the account and it's closing in February in order stop people from doing that and using the account to their advantage. So, no, actually, in response, you couldn't do that. Nobody ever got the chance to test that theory

I was actually told I couldn't do what you just said in branch. And now everyone with the account will have it mature in February into an easy access account.

If that's your assumption then fine but then that's clearly what you think of your friends who've said it too. Saying Ha is no different to using any of the emoji's.

IanManc

EachPenny wrote: »

No. Because if you'd read the T&C's paperwork properly when you originally got it (or followed the advice on this site), then you'd have known you could make a withdrawal when your balance was approaching the max, and give yourself a further year of paying in £50 per month... repeat ad infinitum, or until Leeds changed the T&C's (as they now have).

This is what IanManc is alluding to.

I would say "Ha!". But that would be childish and petty.

Eachpenny is correct. However you try to spin it, the Leeds RS 4 did not have a maturity date, and didn't mature. That is a simple, plain fact.

Recently Leeds have introduced a maturity date, which the account did not have.

Your level of discussion is like that of a small child who will say anything rather than admit they were wrong, and the sort of posting like the one below …...

aj23 wrote: »

Well it did, because when you reached the max it matured into an easy access. Like my paperwork says it will in February. Ha. :rotfl:

…… exemplifies that.

EachPenny

aj23 wrote: »

The T+C's doesn't actually say that. It only says the balance couldn't exceed £6000, else 0.5% would apply to the whole balance. They didn't write anything encouraging you to withdraw £600 and add £50 a month back.

Why would you expect them to lead you to the water? That is what sites like MSE are for (please also let me know of any banks which encourage you to cycle money through multiple current accounts to meet minimum pay-in requirements, or to set up £1 direct debits)

aj23 wrote: »

And clearly they didn't want that because they've changed the rules of the account and it's closing in February in order stop people from doing that and using the account to their advantage.

No, they are simply following the pattern they have previously set (most recently with issue 3) of closing down older issues that had more generous terms than the current offering.

aj23 wrote: »

So, no, actually, in response, you couldn't do that. Nobody ever got the chance to test that theory

You might be rather surprised... if you spent a bit more time researching, and less time expounding your own theories.

aj23 wrote: »

I was actually told I couldn't do what you just said in branch.

Strange that you should have asked that question when you appear to only have heard about the technique a few posts ago. :huh: But if that if that were the case then you were sadly misinformed by the branch staff.

aj23 wrote: »

And now everyone with the account will have it mature in February into an easy access account.

This is true.

DennisTenus

Crazy yet very interesting thread!

I thought I had a lot with 6 regular savers!

I've been searching the virgin money site for the regular saver and for the life of me can't find it..... can someone help please? Is it called double take E-saver?