Regular Savings Accounts: The Best Currently Available List!

karlie88

As with all banks, there are 'gaps' in their online systems and a lot of advisers don't have the detailed knowledge we do on this thread.

In answer to ToTo Man, I strongly suspect you'll be fine when the account matures and that you'll get the 2%/2.5% interest. For added reassurance, what interest rate is displayed when you log on to online banking? (It should be displayed by the account balance when you've clicked on the account). If you were in breach of their T&Cs, they would have changed the account type/informed you by now. It should be fine.


In response to Spec and Snowbelle, if you've opened a BoS/Halifax monthly saver on the last working day of the month and done the internal transfer within normal working hours, then you'll be able to set up a SO for the 1st of the following month and the payment in will be accepted.

For example, if you open a monthly saver and transfer the initial £250 at midday on 31st on a working day, you should be able to set up a SO starting on the following day (1st) and the payment will be accepted.

The reason it's been a bit strange this past December is because the last working day was on Friday 29th Dec - so anyone who opened their monthly saver on or before this date should theoretically be fine to pay in another £250 from 1st Jan. If you opened the monthly saver from the evening of 29th Dec, then you'll have 1 chance to pay in £250 up until 31st Jan.

Ed-1

Snowbelle wrote: »

Just read this with interest and checked my account. I opened one on 28th December and transferred in the initial payment. I set up a SO for 1st of each month and this has been credited to the account today.

If the "December" payment was made on Saturday 30th or Sunday 31st it's credited as January's payment (next working day).

Snowbelle

Snowbelle wrote: »

Just read this with interest and checked my account. I opened one on 28th December and transferred in the initial payment. I set up a SO for 1st of each month and this has been credited to the account today.

karlie88 wrote: »

As with all banks, there are 'gaps' in their online systems and a lot of advisers don't have the detailed knowledge we do on this thread.

In answer to ToTo Man, I strongly suspect you'll be fine when the account matures and that you'll get the 2%/2.5% interest. For added reassurance, what interest rate is displayed when you log on to online banking? (It should be displayed by the account balance when you've clicked on the account). If you were in breach of their T&Cs, they would have changed the account type/informed you by now. It should be fine.


In response to Spec and Snowbelle, if you've opened a BoS/Halifax monthly saver on the last working day of the month and done the internal transfer within normal working hours, then you'll be able to set up a SO for the 1st of the following month and the payment in will be accepted.

For example, if you open a monthly saver and transfer the initial £250 at midday on 31st on a working day, you should be able to set up a SO starting on the following day (1st) and the payment will be accepted.

The reason it's been a bit strange this past December is because the last working day was on Friday 29th Dec - so anyone who opened their monthly saver on or before this date should theoretically be fine to pay in another £250 from 1st Jan. If you opened the monthly saver from the evening of 29th Dec, then you'll have 1 chance to pay in £250 up until 31st Jan.

This is what I've just said. I opened the account on 28th December and now have 2 months payments accepted, however Speculator has said he opened his account on 31st December but his second payment has bounced back.

andi2

Deleted_User wrote: »

Update

When my Virgin Money Regular E Saver Issue 1 matured on 20 October, the sum of £3,582.27 was transferred to my nominated account. This was an overpayment of £35.83 due to an error by Virgin Money by double-paying the final interest. On maturity the RS changed to an easy access account showing a debit balance of £35.83. The maturity instructions which I had submitted before maturity had asked for the maturity account to be closed.
I expected to hear from Virgin Money either by letter or secure message or phone call to the effect that there had been an error on their part but heard nothing. I became anxious that interest might be running on the debit balance so, after 10 days of nothing happening, I sent a secure message on Monday 30 October asking what was happening. I received a reply on Friday 3 November in which Virgin Money accepted that they had made an error in calculating the maturity figure and asking me to send a payment of £35.83 to the maturity account to bring the balance to zero. I replied to the effect that I had been caused worry and anxiety by their error (which I had not contributed to in any way) and their failure to do anything about it until I contacted them on 30 October, with a further delay of 5 days for an acknowledgement by them of their error. They replied today saying that they will write off the £35.83.

Since I was grateful for this update when this happened with my Issue 2, I thought I had better come & update myself.
Virgin replied to me saying that the overpayment happened because I closed my account on the day of maturity which added closure interest when the maturity interest payment was already pending.
I closed the account after 10pm on the day of maturity, when the maturity interest payment was already showing (& it wasn't actioned until the day after, due to the time).
As a gesture of goodwill the overpayment has been written off.
I'm assuming they will amend the way in which the system deals with bond maturity & account closure.

glider3560

Leeds Building Society have now launched Issue 11.

Usual terms: 2.55%, matures 30th December 2018, £250 per month, one withdrawal. Cannot be held at same time as Issues 5, 6, 7, 8, 9, or 10.

http://www.leedsbuildingsociety.co.uk/savings/regularsaver/regular-saver/

Special_Saver2

Hi Everybody,

Here is this weekend's update.

I have updated the Leeds BS Regular Saver (issue 10 replaced with issue 11 with new expiry date of 30th December 2018)

I will do another update next weekend.

SS2

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For those new to this thread, the first few posts are constantly updated and are here

Southcoast01

My account matured and I requested balanced returned with £200 to open a new saver. My book has been returned showing the bank transfer and £200.23 product switch. My question being does the account number stay the same and I keep this book for the next year of deposits?

mgarl10024

Southcoast01 wrote: »

My account matured and I requested balanced returned with £200 to open a new saver. My book has been returned showing the bank transfer and £200.23 product switch. My question being does the account number stay the same and I keep this book for the next year of deposits?

Yes. They put in a new computer system and so you now keep the same account but the product switches. Not sure why it was £200.23 though. :-)

Sea_Shell

No New Virgin Regular e-Saver yet this month? I thought they always launched on the 11th of the 'odd' months?

veryintrigued

Sea_Shell wrote: »

No New Virgin Regular e-Saver yet this month? I thought they always launched on the 11th of the 'odd' months?

Normally spotted at around 14:30hrs. Hold your breath.......