How many Regular Savings Accounts do you have?

veryintrigued

surreysaver wrote: »

I went to my 'local' branch of the Yorkshire Building Society today to open up my Issue 2 Regular Saver. The staff member tried using this argument with me that I'd be better off sticking a lump sum in an account paying 1.2% rather than drip feeding into a regular saver paying 2.5%. I told her I had done my sums and that she was wrong, but she was having none of it.
Unfortunately I had a stinking cold with a hangover, so didn't feel up to giving her a maths lesson. I just said 'whatever, can you open my regular saver please'.

I've had similar previously.

Working in a bank no longer carriesa level of certainty that the staff member you're dealing with knows their stuff am afraid.

karlie88

veryintrigued wrote: »

I've had similar previously.

Working in a bank no longer carriesa level of certainty that the staff member you're dealing with knows their stuff am afraid.

Agreed. They're like car salesmen.

Sea_Shell

Sea_Shell wrote: »

Actually acquiring an M&S 5% RS is like wading through treacle though...

I applied for the current account about 3 weeks ago, got an email 2 weeks ago saying i'd been accepted and my pack would follow shortly....still not here.

Even once that arrives and i send it back...then they open the account. Then I have to attempt to switch accounts to them....and then once all that's completed....I can then apply for an RS.

I'm losing the will to live!!!!!

My pack arrived yesterday. So forms duly signed and popped straight back in the post-box...so lets see how long it takes for the account to be fully "opened" - although the paperwork did show A/C and Sort code on it.

masonic

Sea_Shell wrote: »

My pack arrived yesterday. So forms duly signed and popped straight back in the post-box...so lets see how long it takes for the account to be fully "opened" - although the paperwork did show A/C and Sort code on it.

It does take a long time to get the current account up and running, but thankfully the RS just requires a simple online application like the FD and HSBC equivalents.

ceredigion

masonic wrote: »

It does take a long time to get the current account up and running, but thankfully the RS just requires a simple online application like the FD and HSBC equivalents.

Does it ? Admittedly I am ten months in to the current RS with M&S so things may have changed, but in the past unlike FD and HSBC you had to ring them. queue, Twenty minutes listening to the T&Cs being read to you.

masonic

ceredigion wrote: »

Does it ? Admittedly I am ten months in to the current RS with M&S so things may have changed, but in the past unlike FD and HSBC you had to ring them. queue, Twenty minutes listening to the T&Cs being read to you.

I reapplied in August. No need to phone. Online application processed within a couple of days and later the same week received a letter confirming my account was fully up and running (plus usual letter checking they had the right details for FATCA compliance).

DragonQ

How can you have 31? I have 4 (First Direct, Nationwide, Lloyds, M&S) and realised the other day that it's now worth me getting the Santander 3% one. The only one I know of that's readily available but I can't get because the bank hates me is HSBC.

schiff

DragonQ wrote: »

How can you have 31? I have 4 (First Direct, Nationwide, Lloyds, M&S) and realised the other day that it's now worth me getting the Santander 3% one. The only one I know of that's readily available but I can't get because the bank hates me is HSBC.

Virgins - everywhere you look

Accumulated Virgins actually - to make things clearer. Probably 13, the max for one individual.

schiff

My FD RS matured today and contrary to everything (and I mean everything!) they told me in the August letter about 'what will happen when your RS matures' I've been able to transfer the balance to my 1st account and withdraw it except for the £300 for the new one.

I'll be checking daily till the RS designation changes on that account, whereupon I'll see if I can open the new one.

JamesRobinson48

31 might seem a lot of RSAs but actually I started this game only two years ago: that is only the "low-hanging fruit" of accounts that are operated fully online or via bank/BS branches close to my home. I intend to press on now with the "heavy lifting", opening some more RSAs that are not so easy to obtain. It's just a question of having ample funds in easy access deposits (currently getting only 1.35% or thereabouts); plenty of personal free time; and paying daily attention to first rate online resources like MSE.

Just for example, next time I travel north on holiday I might visit beautiful Ashbourne (branches of Leek BS and Nottingham BS across the road from each other) and maybe also charming Poulton-le-Fylde (similarly Marsden BS and Furness BS).