Regular Savings Accounts: The Best Currently Available List!

mgdavid

Ed-1 wrote: »

That's a month.

A calendar month is defined to be each of the 12 named months of the year.

Thta may be how you define it, but it is not the generally accepted definition, nor is it the one intended by the institutions mentioned in this thread.
WMC gives the correct definition of a calendar month. It is so called to distinguish it from a lunar month, or any other kind of month. It is a definition of a duration of time, not a set of dates.

MarkFromCornwall

mgdavid wrote: »

That may be how you define it, but it is not the generally accepted definition.

Well his definition seems eminently sensible!

Ed-1

mgdavid wrote: »

Thta may be how you define it, but it is not the generally accepted definition, nor is it the one intended by the institutions mentioned in this thread.
WMC gives the correct definition of a calendar month. It is so called to distinguish it from a lunar month, or any other kind of month. It is a definition of a duration of time, not a set of dates.

Regardless, I can confirm that the 4% HSBC regular saver (which has the exact same terms) paid interest accordingly when the standing order set up at account opening was deleted and a new one set up for the 1st of each month.

Wheres_My_Cashback

Ed-1 wrote: »

Regardless, I can confirm that the 4% HSBC regular saver (which has the exact same terms) paid interest accordingly when the standing order set up at account opening was deleted and a new one set up for the 1st of each month.

Did you pay the first s/o as per;-

The first standing order payment must be at least one calendar month after account opening

and then delete and set up again

OR delete and set up again the following month straight after the initial deposit ?

Ed-1

Wheres_My_Cashback wrote: »

Did you pay the first s/o as per;-

The first standing order payment must be at least one calendar month after account opening

and then delete and set up again

OR delete and set up again the following month straight after the initial deposit ?

I transferred the initial amount of £250 on the day of account opening. I then deleted the standing order that was set up and created a new one straight away to go out on the first of each month with the first payment being in the next calendar month.

Note that you can only select a standing order date that is at least 2 days away.

bsms1147

mgdavid wrote: »

Thta may be how you define it, but it is not the generally accepted definition, nor is it the one intended by the institutions mentioned in this thread.

I'm not sure I agree.

A calender month is, as the name implies, January, February, etc. Not sure who would back up your (and WMC's) definition, certainly not any financial institution.

BigBelly

http://en.wiktionary.org/wiki/calendar_month

The period of duration from the same date of one month to the same date of the next month, and thus can be 28, 29 during a leap year, 30 or 31 days long. For example the duration from 21st January to 20th February.

Archi_Bald

A great example of why you shouldn't rely on what you read on the internet.

BigBelly

Archi_Bald wrote: »

A great example of why you shouldn't rely on what you read on the internet.

I expect the Wiktionary definition of 'calendar month' wasn't simply dreamed up by some individual editor and has actually been used in that particular context. There is no official authority on the English language, not even the OED, although out of interest I'd like to see if they have a definition of 'calendar month'. Many other languages do have such a body. For example the Dutch Language Union in The Hague decides what is Standard Dutch in the Netherlands, Belgium and Suriname.

So, in short, you can't criticise someone for using the term 'calendar month' to describe a length of time rather than a set of dates, as it is possible for both definitions to be acceptable current usage because there is no regulator to say otherwise.

bsms1147

BigBelly wrote: »

I expect the Wiktionary definition of 'calendar month' wasn't simply dreamed up by some individual editor and has actually been used in that particular context. There is no official authority on the English language, not even the OED, although out of interest I'd like to see if they have a definition of 'calendar month'. Many other languages do have such a body. For example the Dutch Language Union in The Hague decides what is Standard Dutch in the Netherlands, Belgium and Suriname.

So, in short, you can't criticise someone for using the term 'calendar month' to describe a length of time rather than a set of dates, as it is possible for both definitions to be acceptable current usage because there is no regulator to say otherwise.

Banks and financial institutions define 'calender month' to be January, February, etc. Since this is a thread about Regular Savers, their definition is the one that matters. They do often refer to periods of time that equate to what some call a 'monthly anniversary' - ie the alternative definition of 'calender month' that you provide - but many do explicitly say that such a period is not the same as a calender month.

I know this is tangential and bordering on pedantic, but it needs pointing out.