Regular Savings Accounts: The Best Currently Available List!

ctdctd

I thought the Principality issue 15 @ 2% had been there for ages?

Anyway, got a letter today from the Monmouthshire - the Saver Plus issue 2 rate is going down to 0.85% + 1% bonus from March 11th.

However, they are now allowing it to be funded by any means - not just DD.

MARTYM8`

Quick question for those with maturing Leeds BS Issue 2 regular saver accounts this weekend.

The capital bonus for the year is being paid on 1 March (i.e. tomorrow). Then from 1 to 3 March its still held in the regular saver 2 before being moved to the instant access account paying 0.85% on 3rd.

I am assuming therefore that I can simply withdraw my funds entirely on Monday (2nd) - and all I lose then is the 3% interest for one day and that is it? Is that correct.

Monday is better for me withdrawal wise as the cheque will clear sooner and I can move most of the funds to my high interest current accounts by the end of the week.

PS Having updated my passbook this week they have already paid the interest due on 1 March into your book - subject to you not closing your account before tomorrow.

Steve_xx

Monmouthshire Building Society is reducing its interest rate on the Saver Plus (Issue 2) account by 0.25% from 11 March 2015. There is a fixed bonus of 1.00% on this account and this remains unchanged.

They are changing how you are allowed to fund the account from 1 April. Currently it has to be by dd mandate on the same date each month and the amount is not variable. From 1 April you can pay into it by any means and you will be able to vary the amount. The amount has to be between £20 and £1000 per month.

Therefore the new rate with the bonus would be 1.85%.

Here's a link to the account: http://www.monbs.com/saver-plus-issue-20305/

MARTYM8`

Just another interest rate reduction update.

From 11 March Monmouthshire BS are reducing the rate on their saver plus issue 2 account. It seems the standard interest rate (excluding the 1% bonus for meeting the terms and conditions i.e. only one withdrawal and 12 payments made) is being cut from 1.1% to 0.85%. So the total rate payable will be 0.25% less i.e. 1.85% including the bonus.

The letter however says the interest rate will be 0.85% - and the reference to the bonus is added two paragraphs down. So at first glance you might well assume the rate is now only 0.85% vs 2.1% previously. Lets just say the letter could possibly have been better written!

They are are allowing people to vary the amounts paid in monthly (£20 to £1000) and you don't have to pay by direct debit anymore if you don't want to (i.e. bank transfers/standing orders will now be possible).

The current rates are here

http://www.monbs.com/saver-plus-issue-20305/

PS I see Steve-xx just beat me to it

GreenBitterfly

MARTYM8` wrote: »

Quick question for those with maturing Leeds BS Issue 2 regular saver accounts this weekend.

The capital bonus for the year is being paid on 1 March (i.e. tomorrow). Then from 1 to 3 March its still held in the regular saver 2 before being moved to the instant access account paying 0.85% on 3rd.

I am assuming therefore that I can simply withdraw my funds entirely on Monday (2nd) - and all I lose then is the 3% interest for one day and that is it? Is that correct.

Monday is better for me withdrawal wise as the cheque will clear sooner and I can move most of the funds to my high interest current accounts by the end of the week.

PS Having updated my passbook this week they have already paid the interest due on 1 March into your book - subject to you not closing your account before tomorrow.

I haven't got a solution for this, but I wondered this too, I work all day Monday and so can't get into a branch, so it's not relevant for me. I just wondered anyway!

Special_Saver2

Thanks for the information. I am now removing the Monmouthshire BS account as the interest rate reduction takes it below the threshold required to be on the first page of this thread. Regarding the Principality BS account, I am not sure when exactly it changed to issue 15. I just noticed it this weekend as I was doing a periodic thorough check of everything from the first page of this thread.

SS2

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For those new to this thread, the first few posts are constantly updated and are here: http://forums.moneysavingexpert.com/...=608697&page=1

bristolleedsfan

GreenBitterfly wrote: »

I haven't got a solution for this, but I wondered this too, I work all day Monday and so can't get into a branch, so it's not relevant for me. I just wondered anyway!

I posted my book to a branch together with a withdrawal form dated today with instructions to transact after the bonus has been paid, I know my posting was received, funds havent reached my Bank Account as of now.

MARTYM8`

GreenBitterfly wrote: »

I haven't got a solution for this, but I wondered this too, I work all day Monday and so can't get into a branch, so it's not relevant for me. I just wondered anyway!

I withdrew my funds by cheque today in branch – the bonus interest was paid on 1 March and I kept that.

So all you lost by withdrawing today was the 3% interest on the regular saver 2 for one day before it moves to the instant access account paying 0.8%? tomorrow.

Still have a regular saver 3 – so remain a customer.

PS One piece of information for those with Saffron BS 4% regular saver accounts – their London branch in Stratford (by Maryland station) is closing in mid May. They used to have a very grand branch on Stratford High Street – which they closed a while back and moved to the rear of a letting agent. The nearest branch for Londoners in future will therefore the Brentwood one in Essex.

GreenBitterfly

Regarding the Leeds Building Society regular saver, I've just closed my account with withdrawing a small amount of cash and the rest by cheque. The waiting time to be seen was ridiculous, they were queuing out of the door when I left, and I was stood in queue for twenty minutes. They had two cashiers on, and despite knowing that people would be coming to close or transfer their regular savers. I was also asked for ID when closing my account, which I was not pre-warned about in any of the communication regarding the change of account.

Archi_Bald

GreenBitterfly wrote: »

I was also asked for ID when closing my account, which I was not pre-warned about in any of the communication regarding the change of account.

You'd not want someone else be allowed to transact on your account, would you? Seems good practice to check that ID gets verified.