Regular Savings Accounts: The Best Currently Available List!

janusd

r6mile said:

I am having an absolute nightmare with MonBS. Letters take ages to arrive (I got a letter last week dated 1 September), their online system is a joke and the fact that resetting a password requires a letter to be sent in the post is ridiculously outdated! I am starting to think whether this is worth it really...

I never even got a reply from MonBS to my online form completion attempting to close the unfunded account - I assume they're just got to let the 30 days elapse and send me a letter next month, probably on parchment or papyrus, that as it was unfunded it has now been closed... whatever their accounts offer in the future, i'm not going to waste any time on applying for them.

Wheres_My_Cashback

pecunianonolet said:

Wheres_My_Cashback said:

Growingold said:

For info when I was on the phone to Monmouthshire (no easy task I might add) I asked the question when did the 12 months for their RS's start .  They said from date of deposit.  This was confirmed when I eventually got access to my accounts on line and made my first deposit.  Maturity/Interest  date showing 12 months from date of funding) Click more information when on your specific account page to see.

This has always been the case with Monmouthshire for their RS accounts though you may have read here otherwise as some make their own interpretations without checking first.
Their terms do actually state that an account is not classified as open until funds have been deposited for which you have 30 days to do so from receipt of account confirmation letter.

But who is depositing any funds to an account they have no access to? 1.5 weeks to issue login details and post a letter should be enough when others manage similar things in 3 days.

r6mile said:

I am having an absolute nightmare with MonBS. Letters take ages to arrive (I got a letter last week dated 1 September), their online system is a joke and the fact that resetting a password requires a letter to be sent in the post is ridiculously outdated! I am starting to think whether this is worth it really...

Exactly my thinking too. Even a 10% reg saver would not make me touch them again. I'll wait if anything is in the post today, if not I give them a call and if that doesn't lead to anything they can keep their stuff and will be added to our black list (as the first on the list).

What others do is not the point. MONBS do things their way, like it or not. It may well be considered outdated and at times slow, but you have to weigh up whether their waiting times are worthy of your custom.
Having had 13-15? different accounts with them over the past 6 years, I can't say I've personally experienced any insurmountable issues and I live in an area where at times I only get postal deliveries 1-2 times weekly.

Can't think why you'd want to deposit into a regular saver and then access inside 1.5 weeks, but if you did then you still can by other means.

Many savers fund accounts where W/Ds are not immediately possible, YBS accounts immediately spring to mind where access is not permitted at all for 2 weeks.

One thing I have realised in the past few years is that MONBS may not be at the forefront of IT/Opening procedures, but they do issue some very good RS accounts, more so than many of the bigger players above them, so I am quite happy to be a customer of theirs.

pecunianonolet

I do not want to access money straight away and it is supposed to stay there but I want online access so I can send my £1 test payment the check if all payee details are set up correctly and send the rest after. 

In my case normal and exclusive reg saver currently open --> £600
OH only reg saver (nobody knows what happened to the exclusive application) --> £300

We're not sending £900 somewhere when we can't even check any details. 

SFindlay

pecunianonolet said:

I do not want to access money straight away and it is supposed to stay there but I want online access so I can send my £1 test payment the check if all payee details are set up correctly and send the rest after. 

In my case normal and exclusive reg saver currently open --> £600
OH only reg saver (nobody knows what happened to the exclusive application) --> £300

We're not sending £900 somewhere when we can't even check any details. 

Where exactly do you think your £900 is going to disappear to?? You do understand many many people for many many years have deposited money into accounts without immediately being able to see it dontvyou?? 

Beside all that you say you already have 2 accounts open with Monmouthshire so you will clearly see the account number is exactly the same and only the reference is different, now assuming you are able to correctly input the reference number then there is zero risk of the money going astray as you've already sent £900 to the same account number and proven to yourself that account number is the MBS!!!

WillPS

pecunianonolet said:

I do not want to access money straight away and it is supposed to stay there but I want online access so I can send my £1 test payment the check if all payee details are set up correctly and send the rest after. 

In my case normal and exclusive reg saver currently open --> £600
OH only reg saver (nobody knows what happened to the exclusive application) --> £300

We're not sending £900 somewhere when we can't even check any details. 

"who is depositing any funds to an account they have no access to?" was the question you asked. You've now clarified the question was really 'who doesn't want to deposit funds which they can't immediately check have arrived online', and seemingly the answer to that question is you.

As others have said, it's not at all a blocker having no online access.

Rudyson

pecunianonolet said:

I do not want to access money straight away and it is supposed to stay there but I want online access so I can send my £1 test payment the check if all payee details are set up correctly and send the rest after. 

In my case normal and exclusive reg saver currently open --> £600
OH only reg saver (nobody knows what happened to the exclusive application) --> £300

We're not sending £900 somewhere when we can't even check any details. 

Send your test payment, then phone them up in a couple of days to see if they've got it. I don't have online access yet, but have confirmed that both payments have been received. obviously I'd like online access asap, but don't actually need it for another 11 months, and in the meantime have effectively opened a £600 reg saver at seven and a half percent.

Wheres_My_Cashback

pecunianonolet said:

I do not want to access money straight away and it is supposed to stay there but I want online access so I can send my £1 test payment the check if all payee details are set up correctly and send the rest after. 

In my case normal and exclusive reg saver currently open --> £600
OH only reg saver (nobody knows what happened to the exclusive application) --> £300

We're not sending £900 somewhere when we can't even check any details. 

What details do you need to check exactly ?

Account details can be obtained in the passbook or by calling them (as I did for one of the recent accounts). I received confirmation in the post of the Excl RS on 29th, but not the other (still in the post at that time) so called them and they happily gave me details for the other so I could get deposits into both prior to month end.

If they've mislaid the application for the Excl. then that's a very different issue which surely you would resolve via a conversation with them and possibly filing a new application.

As long as you set the payment up correctly it will get there. Why do you think it won't ? Seems to me that all you really want is to be able to see your funds on screen in B+W to satisfy your concern which is down to you and not MONBS. What did you do before online banking ?

But if you're still worried call them again to confirm receipt of deposit.

Hopefully another good RS from elsewhere will appear soon to move the subject matter on, but we've not done too badly in the past month what with MON/YBS/BEE/T&C/NW.

SFindlay

janusdesign said:

r6mile said:

I am having an absolute nightmare with MonBS. Letters take ages to arrive (I got a letter last week dated 1 September), their online system is a joke and the fact that resetting a password requires a letter to be sent in the post is ridiculously outdated! I am starting to think whether this is worth it really...

I never even got a reply from MonBS to my online form completion attempting to close the unfunded account - I assume they're just got to let the 30 days elapse and send me a letter next month, probably on parchment or papyrus, that as it was unfunded it has now been closed... whatever their accounts offer in the future, i'm not going to waste any time on applying for them.

I genuinely hope you stick to that along with the others who have whinged and moaned that way the rest of us who are happy to operate MBS accounts in line with their practices can get on with it.

The real problem is people see headline rate and apply without reading anything else then whinge when they don't have immediate online confirmation / access and then even blame MBS for delays in the postal network!! Maybe if people read the accompanying information they would realise how MBS choose to operate and if don't like it then don't apply, its really as simple as that!! 

trickydicky14

Anyone who follows this site knows the issues MBS have had in the past with regular savers. So why jump in knowing this and then spend time complaining about it. Agreed, it’s far from great but if you want the product, you have to put up with the problems. I have four RS’s with Monmouth and yes I have had my fair share of issues setting them up but that’s life. It’s not worth getting stressed, if it’s a problem then just move on.

csw5780

Ok so slightly confused now. MBS RS accounts are they “by month end” payments or monthly from account opening date? 

(Not trying to open the 13 payments diversion again!)