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Help to Save

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  • NedS
    NedS Posts: 4,079 Forumite
    Fifth Anniversary 1,000 Posts Photogenic Name Dropper
    kty207 said:
    Hi joining HTS late in the game I’ve just made my last payment for yrs 1 & 2 on the 1st Feb. So getting my head around it am I right in thinking my bonus will arrive sometime after 6 March but maybe before mid March?
    Yes, checking back in my notes I have that payments are made on 6th working day of the month, which would be on 8/3/2023

  • Tried to apply today for a Help To Save account but came back I was not eligable.  After ringing the telephone number to find out why I was told it because my UC award was £0.00 for last months assessment period.

    Household income is above the £722.45 threshold but from my UC award each month I'm paying back a UC advance and what is leftover is paid directly to my landlord towards my rent (award dosen't cover full rent so I make up the shortfall every month) which zeros my UC award, which is therefore counted by the HTS scheme as not receving a UC payment and makes me uneligable for the scheme.  

    Think the guide needs updating to inform people that you need to have received a UC payment (even if it's just £1.00) and income above £722.45 to qualify.  Being on UC but receiving no UC payment make you ineligable. 
    LBM - August 2012
    DMP Start - 01/11/2012
    DMP Finish - 01/09/2014

    Thanks to all on MSE. :T
  • NedS
    NedS Posts: 4,079 Forumite
    Fifth Anniversary 1,000 Posts Photogenic Name Dropper
    edited 4 January 2024 pm31 4:48PM
    Tried to apply today for a Help To Save account but came back I was not eligable.  After ringing the telephone number to find out why I was told it because my UC award was £0.00 for last months assessment period.

    Household income is above the £722.45 threshold but from my UC award each month I'm paying back a UC advance and what is leftover is paid directly to my landlord towards my rent (award dosen't cover full rent so I make up the shortfall every month) which zeros my UC award, which is therefore counted by the HTS scheme as not receving a UC payment and makes me uneligable for the scheme.  

    Think the guide needs updating to inform people that you need to have received a UC payment (even if it's just £1.00) and income above £722.45 to qualify.  Being on UC but receiving no UC payment make you ineligable. 
    Can you request that the payment of rent direct to your landlord stops and that rent payments are made to you instead, and you pay rent to the landlord, meaning you will receive a UC payment and thus qualify?

  • Tried to apply today for a Help To Save account but came back I was not eligable.  After ringing the telephone number to find out why I was told it because my UC award was £0.00 for last months assessment period.

    Household income is above the £722.45 threshold but from my UC award each month I'm paying back a UC advance and what is leftover is paid directly to my landlord towards my rent (award dosen't cover full rent so I make up the shortfall every month) which zeros my UC award, which is therefore counted by the HTS scheme as not receving a UC payment and makes me uneligable for the scheme.  

    Think the guide needs updating to inform people that you need to have received a UC payment (even if it's just £1.00) and income above £722.45 to qualify.  Being on UC but receiving no UC payment make you ineligable. 
    In some ways the eligibility (imo) is quite quirky.

    I'm almost the opposite of you, I only work part time and there is only 1 x 4 week period (the old double wage month) where I qualify for Help To Save, naturally I took advantage of that.

    You only have to be eligible at the time you apply so I hope you get sorted and they process your next application.


  • swfcowls said:
    Just require clarification. If i opened an HTS on the 1st March, but don't make any payment into it until the 1st of April, then because it was opened in March, then March counts as month 1 even if nothing paid in. In essence, i want to set it up while my mind lets me, but i don't want the 2 year period start until 1st April, when i start paying in by direct debit. I think i know the answer, but thought i would see how others feel it works. Appreciate the feedback 
    Did you or anyone else ever figure this out? I've looked through the thread and couldn't find any one replying to your query.

    I have the same question, want to open a help to save account but wondering if I should just wait till the 1st of April, it's only in a couple of days time so can wait but will want to open one for my wife too a month after that so that we don't end up with joint capital of exactly 6k at the end of year 4 if we both open in the same month and pay in the maximum throughout the 4 years (hopefully things change and we wont need universal credit but just in case).

    Just looking for confirmation if it's best to wait till the begining of a month to apply in case we miss a £50 payment in the month of opening due to opening too close to the end of the month and thus missing out on the maximum bonus payment.
  • swfcowls said:
    Just require clarification. If i opened an HTS on the 1st March, but don't make any payment into it until the 1st of April, then because it was opened in March, then March counts as month 1 even if nothing paid in. In essence, i want to set it up while my mind lets me, but i don't want the 2 year period start until 1st April, when i start paying in by direct debit. I think i know the answer, but thought i would see how others feel it works. Appreciate the feedback 
    Did you or anyone else ever figure this out? I've looked through the thread and couldn't find any one replying to your query.

    I have the same question, want to open a help to save account but wondering if I should just wait till the 1st of April, it's only in a couple of days time so can wait but will want to open one for my wife too a month after that so that we don't end up with joint capital of exactly 6k at the end of year 4 if we both open in the same month and pay in the maximum throughout the 4 years (hopefully things change and we wont need universal credit but just in case).

    Just looking for confirmation if it's best to wait till the begining of a month to apply in case we miss a £50 payment in the month of opening due to opening too close to the end of the month and thus missing out on the maximum bonus payment.
    I think I've answered my own question after applying for mine, screenshot below. For benefit of doubt I suggest making sure you'll be able to pay in £50 in the month that you apply to be able to receive the maximum bonus(es). 


  • Apologies if this has been asked before - this is really long discussion board so I figured it may be easier to post a question for help. 
    My husband opened one of these and we have reached the end of the four year saving term we’ve been fortunate to be able to afford to pay in the maximum £50 per month for the complete term without withdrawal. We received the halfway bonus at the end of year two but the site/ account says he is not eligible for the final bonus. Can anyone explain why? Many thanks in advance 
  • Apologies if this has been asked before - this is really long discussion board so I figured it may be easier to post a question for help. 
    My husband opened one of these and we have reached the end of the four year saving term we’ve been fortunate to be able to afford to pay in the maximum £50 per month for the complete term without withdrawal. We received the halfway bonus at the end of year two but the site/ account says he is not eligible for the final bonus. Can anyone explain why? Many thanks in advance 
    @ceaftypenguin26 did you find the answer to this? My account is saying the same thing and I always paid in the maximum each month, I'll call them tomorrow but just wondered if you still got the bonus.

    Thanks

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