Regular Savings Accounts: The Best Currently Available List!

Ashen

Steve_xx wrote: »

Nevertheless, you mentioned that the maximum deposit was 3.5k over 14 months, when in fact, the 3.5k maximum is over 12 months. After the first 12 months have lapsed you are then effectively into the second period of 12 months.

There's a £250 per month deposit limit, so you can't deposit 3.5k in 12 months without exceeding that limit. Depositing £3500 has to be over 14 calendar months.

Steve_xx

Ashen wrote: »

There's a £250 per month deposit limit, so you can't deposit 3.5k in 12 months without exceeding that limit. Depositing £3500 has to be over 14 calendar months.

I see your point and you are correct regarding the 14 months. However, in your original point you mentioned that the "balance" may possibly exceed 3.5k, which would be true. But, Virgin's blurb makes mention of the maximum "deposit" amount you can make, and not the "balance", if you see what I mean?

This projection is provided for illustrative purposes only and does not take into account your individual circumstances. It is based on a maximum £250 monthly deposit over 14 months, with no withdrawals being made and interest being added to the account. The projected balance is based on the annual interest rate.

Ashen

Steve_xx wrote: »

I see your point and you are correct regarding the 14 months. However, in your original point you mentioned that the "balance" may possibly exceed 3.5k, which would be true. But, Virgin's blurb makes mention of the maximum "deposit" amount you can make, and not the "balance", if you see what I mean?

This projection is provided for illustrative purposes only and does not take into account your individual circumstances. It is based on a maximum £250 monthly deposit over 14 months, with no withdrawals being made and interest being added to the account. The projected balance is based on the annual interest rate.

Yes, I posted that because the first post mentioning the account said a 'maximum balance' of £3500, as well in the first posts, and inevitably anyone depositing £250 from this month onwards can exceed that balance before maturity (as the first interest is paid before maturity).

I then deleted the comment a few minutes later because I couldn't find mention of it being a 'maximum balance' as such on the Virgin site (as you say), and thought perhaps I'd been too pedantic, but my comment had been quoted

broju

Reducing from 2% to 1.75% on 1st October 2016

[Deleted User]

broju wrote: »

Reducing from 2% to 1.75% on 1st October 2016

B****r :sad:I just took one out on 2 September, just got in before it was pulled.

schiff

Extract from some part of the T&Cs:

"Fixed Term Projected balance, end of Fixed Term

20 October 2017 £3,549.22

This projection is provided for illustrative purposes only and does not take into account your individual circumstances. It is based on a maximum £250 monthly deposit over 14 months, with no withdrawals being made and interest being added to the account. The projected balance is based on the annual interest rate."

This, added to the quotes 'up to £250 per month', 'calendar month', 'maturity date 20/10/17', 'maximum £250 monthly deposits over 14 months' (all from the Virgin website), must surely mean what we want it to mean!

Westie983

Deleted_User wrote: »

B****r :sad:I just took one out on 2 September, just got in before it was pulled.

Not sure if its worth it now....

Going to fill up HSBC, FD, and LEEDS first and the remainder can go into Buck, its down the list now.

badger09

Deleted_User wrote: »

I opened my account yesterday and paid £250 by faster payment. I've set up monthly standing order for £250 from 1 October 2016 to 1 October 2017, inclusive, so should pay in 14 X £250 before maturity.

Westie983 wrote: »

I have joined this club, too, and done the same as you, £250 a month from 1st October, and £250 transferred once the account was opened.

I opened mine yesterday and transferred 'test' payment of £10 from Santander 123. Seeing Virgin account online today, with £10 safely arrived, I transferred another £240 then tried to set up a SO from 1st October.

I kept getting error message about a technical fault, told to try again later or phone an 0845 number. Eventually phoned, to find the phone number had changed over a year ago and that the 'technical error' was because Santander do not allow SOs to be started on a non working day:cool:

A note to this effect would have saved me some frustration, a wasted phone call to an obsolete number, and no doubt reduce some of the calls to Santander.

Just don't get me started on the Barclaycard app and 'chocolate teapot' attributes of some of their call centre staff:mad::mad:

[Deleted User]

broju wrote: »

Reducing from 2% to 1.75% on 1st October 2016

Can you advise where/how you know of this? It's not mentioned (so far as I can see) on the Bucks BS website and I haven't had a letter (yet). Maybe you've seen a branch notice or an advert in a Bucks local paper?

Vortigern

badger09 wrote: »

I tried to set up a SO from 1st October.

I kept getting error message about a technical fault, told to try again later or phone an 0845 number. Eventually phoned, to find the phone number had changed over a year ago and that the 'technical error' was because Santander do not allow SOs to be started on a non working day.

While they certainly don't process standing orders on non-working days, they do allow you to set them up. I specified monthly payments on the 1st on each month starting 1/10/16. The SO was accepted, but the first payment will be on 3/10/16 as expected.

I have occasionally seen this 'technical error' on Santander, but usually I retry the transaction immediately, and it works.