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Wsb5tails

I got my Principality book with opening date 31st Dec but the chq only cleared today 5th Jan. When should I aim to get my next months payment to them, can I do it now and do I always have to pay the same amount every month?

mary

Identical situation to yours. So I have made my 2nd payment today, that then goes in as a January payment. So there will be £1000 in there more or less right from the start. Not sure about the same amount every month, as I always pay the same in any case.

knights

so02see wrote: »

I got my Principality book with opening date 31st Dec but the chq only cleared today 5th Jan. When should I aim to get my next months payment to them, can I do it now and do I always have to pay the same amount every month?

As you pass book says 31/12/08 you can therefore fund you account from the 1st of this month as mary has done, (and me).

You can pay in between £20 and £500 per calendar month

Dagobert

In December, I applied for a Fixed Rate Monthly Saver (Issue 8). On 18th December, I received a confirmation letter stating "Your account is now ready to use". On the 25th, they sent another letter reminding me that I had not made a payment yet.

I have had half a dozen of their regular savers over the years and my understanding is that payments start in the month following account opening.

The information for Issue 9 states You set up a standing order to start the following month.

Have they changed the procedure?

JimLad

I opened my halifax regular saver fixed at 5% for one year on the 1st of january and the online tracker says the 1st of jan is its maturity date. However i wont be making my first deposit until the 10th of jan when my salary is paid. Will i get the interest on the 1st or 10th of jan 2010?

Wsb5tails

Dagobert wrote: »

In December, I applied for a Fixed Rate Monthly Saver (Issue 8). On 18th December, I received a confirmation letter stating "Your account is now ready to use". On the 25th, they sent another letter reminding me that I had not made a payment yet.

I cant help answer your question, I was just astonished they were sending letters out on 25th Dec!!

From what I read they are seldom an efficient organisation, however they clearly think you will have no other activities to keep you busy in the 7 days before Christmas. I'm impressed.

mary

Dagobert wrote: »

In December, I applied for a Fixed Rate Monthly Saver (Issue 8). On 18th December, I received a confirmation letter stating "Your account is now ready to use". On the 25th, they sent another letter reminding me that I had not made a payment yet.

I have had half a dozen of their regular savers over the years and my understanding is that payments start in the month following account opening.

The information for Issue 9 states You set up a standing order to start the following month.

Have they changed the procedure?

Opened mine in branch before Xmas and made the first payment 5th Jan. It's the same as with previous Issues. (Mine is Issue 8)

knights

Dagobert wrote: »

In December, I applied for a Fixed Rate Monthly Saver (Issue 8). On 18th December, I received a confirmation letter stating "Your account is now ready to use". On the 25th, they sent another letter reminding me that I had not made a payment yet.

I have had half a dozen of their regular savers over the years and my understanding is that payments start in the month following account opening.

The information for Issue 9 states You set up a standing order to start the following month.

Have they changed the procedure?

You would normally fund these accounts on the 2nd of the month following the month they were opened. This is the proceedure as I understand it.

Happychappy

I was just moving money over to the Bradford and Bingley Esaver 6, but see this has dropped to 3.6% so I may have to settle on the ING 5% for "new customers only" just wonder how long this will stay at 5% ?

mary

knights wrote: »

You would normally fund these accounts on the 2nd of the month following the month they were opened. This is the proceedure as I understand it.

Curiosity - why the 2nd of the month and not the first? So long as it's in the correct month, the earlier the better, as I see it.