Regular Savings Accounts: The Best Currently Available List!

Biggles

I've got my letter confirming the setting up of the M&S Monthly Saver but it says that the SO is set up to make 11 payments from 21 January (on top of the initial payment on 21 Jan).

I rang up and it was confirmed that this should have read 11 payments from 21 February. He didn't sound surprised, so there could have been a few of these go out wrong.

Steve_xx

ernie-money wrote: »

Hi,
I've opened a regular saver for my son with Nationwide, but now received letter confirming account opening and the account number is in this format: 0000/000000000. I've looked it up on their website and apparently the sort code should be 071040, but is the account number a part of the longer number given? On their site it says: Your 8 digit account number is presented to you on the confirmation screen when opening the account.
but we opened the account in branch and got a letter sent home with account details.
I've sent them a message to ask, but guess it'll take a couple of days to hear back, and just thought someone might know the answer..?
Thanks!

So what exactly is the problem?

Ken68

M&S Regular Saver now set up. RENEWABLE in one year.

badger09

Ken68 wrote: »

M&S Regular Saver now set up. RENEWABLE in one year.

No guarantee the rate for the new account will remain at 6%, though FD seem to manage it:)

alanq

badger09 wrote: »

No guarantee the rate for the new account will remain at 6%, though FD seem to manage it:)

FD used to manage 8% then it reduced to 6%. There is no reason to assume that there will be no further reduction for later issues of the account.

EarthBoy

alanq wrote: »

FD used to manage 8% then it reduced to 6%. There is no reason to assume that there will be no further reduction for later issues of the account.

They reduced it to 4% for a short while, two or three years ago.

fonesaver

premierfella wrote: »

I for one wasn't surprised by the lack of honesty in the letter (I have the issue 1 account). I don't really expect them to write "we're losing too much money on the account as balances continue to build up at a rate of £x a month). It would have been nice of them not to lie about it though.

It surely wouldn't have been beyond their capabilities to offer to open new issue 3 accounts on request to allow a smooth transition for customers. From reading the letter you'd be forgiven for thinking issue 3 didn't even exist - which is probably intentional as it raises too many difficult questions.

I'll probably virtually empty the issue 1 now and transfer that balance to a P2P account and open an issue 3 in March just to keep membership and voting rights, for what they are worth.

I phoned my Leeds branch this morning and also raised the same points... The guy I spoke to at the Leeds agreed with me! Admitting that the letter was 'poorly written' and that they have had several complaints and he will 'pass on my feedback'. He said I can open a Regular Saver 3 via the internet without an appointment (nearest branch to me is 35 miles away) but I'm not so sure. I will try it.

Steve_xx

fonesaver wrote: »

I phoned my Leeds branch this morning and also raised the same points... The guy I spoke to at the Leeds agreed with me! Admitting that the letter was 'poorly written' and that they have had several complaints and he will 'pass on my feedback'. He said I can open a Regular Saver 3 via the internet without an appointment (nearest branch to me is 35 miles away) but I'm not so sure. I will try it.

You can't open it on the internet, but you can download the forms, print them out, complete them and then post them.

Archi_Bald

Why Bother with Leeds? Have you maxed all the 4 and 6% Regular Savings accounts?

pawlala

M&S Regular savings "department" offering call backs to set up an account, but not until LATE NEXT WEEK!! !!!!!!!!