Regular Savings Accounts: The Best Currently Available List!

francoghezzi

Altior said:

Last post on the subject (from me anyway). I could not be any clearer, I am not doing it, however others can do whatever they like, and whatever they are comfortable with. If they feel however that NW intends for the account to be funded 2 days in a row with 2* payments of £200, they need their bumps felt (imho).

I have not stated that it breaches any of the technical requirements of the account. 

Flex Regular Saver:

Open online, and save up to £200 a month for 12 months.

My (albeit rudimentary) maths suggests this adds up to £2400. The intention, or the expectation one might say, is that the account will be funded 12 times. Yeah, someone can play around with the dates and ensure that 13 payments could hit the account within a calendar year, and/or two payments over two days. They can go right ahead, but I would myself consider that to be a workaround, and not using the account as it was intended. It is also true that the rules could be more robust to prevent the possibility, if NW so wished.

Just opened the account in person at NW Ayr and I was asked by the guys working at the bank if I wanted to deposit today and then next week (and of course I did it). Don't see why all this mess on this forum

WillPS

Altior said:

Last post on the subject (from me anyway). I could not be any clearer, I am not doing it, however others can do whatever they like, and whatever they are comfortable with. If they feel however that NW intends for the account to be funded 2 days in a row with 2* payments of £200, they need their bumps felt (imho).

I have not stated that it breaches any of the technical requirements of the account. 

Flex Regular Saver:

Open online, and save up to £200 a month for 12 months.

My (albeit rudimentary) maths suggests this adds up to £2400. The intention, or the expectation one might say, is that the account will be funded 12 times. Yeah, someone can play around with the dates and ensure that 13 payments could hit the account within a calendar year, and/or two payments over two days. They can go right ahead, but I would myself consider that to be a workaround, and not using the account as it was intended. It is also true that the rules could be more robust to prevent the possibility, if NW so wished.

When you look at credit card deals, do you take the boilerplate 'based on a £1,200 credit limit' to literally mean you will get a £1200 credit limit?

Section62

Altior said:

Last post on the subject (from me anyway). I could not be any clearer, I am not doing it, however others can do whatever they like, and whatever they are comfortable with. If they feel however that NW intends for the account to be funded 2 days in a row with 2* payments of £200, they need their bumps felt (imho).

I have not stated that it breaches any of the technical requirements of the account. 

Flex Regular Saver:

Open online, and save up to £200 a month for 12 months.

My (albeit rudimentary) maths suggests this adds up to £2400. The intention, or the expectation one might say, is that the account will be funded 12 times. Yeah, someone can play around with the dates and ensure that 13 payments could hit the account within a calendar year, and/or two payments over two days. They can go right ahead, but I would myself consider that to be a workaround, and not using the account as it was intended. It is also true that the rules could be more robust to prevent the possibility, if NW so wished.

I don't think anyone is too interested in what you choose to do yourself.

The concern I'd have (and I guess others would share) is you are going further than saying you won't do this yourself, and instead have been making claims (without foundation) that the T&C's somehow prohibit a 13th payment.

What you opt to do yourself is fine, but please don't post stuff which may mislead other posters into thinking what they are doing is wrong, leading to them missing out on an 'MSE' opportunity.  You've used prejudicial language such as "play around" and suggested that people doing this may incur the "wrath" of Nationwide, but what you suggest has no basis whatsoever in Nationwide's own T&C's for the account.

zagfles

Altior said:

Last post on the subject (from me anyway). I could not be any clearer, I am not doing it, however others can do whatever they like, and whatever they are comfortable with. If they feel however that NW intends for the account to be funded 2 days in a row with 2* payments of £200, they need their bumps felt (imho).

I have not stated that it breaches any of the technical requirements of the account. 

Flex Regular Saver:

Open online, and save up to £200 a month for 12 months.

My (albeit rudimentary) maths suggests this adds up to £2400. The intention, or the expectation one might say, is that the account will be funded 12 times. Yeah, someone can play around with the dates and ensure that 13 payments could hit the account within a calendar year, and/or two payments over two days. They can go right ahead, but I would myself consider that to be a workaround, and not using the account as it was intended. It is also true that the rules could be more robust to prevent the possibility, if NW so wished.

That's the headline! They then go on to define stuff.

"save up to £200 a month" Here a "month" means a calender month.

"for 12 months" Here "12 months" is NOT 12 calendar months, as they make clear the account matures one year (ie 365/366 days) after opening.

There is zero expectation of the account being funded 12 times. They are quite clear you can use it almost as an easy access account, the two main differences being the balance can only increase by £200 each calendar month, and your interest rate drops if you make more than 3 withdrawals. You can fund it 100 times if you want, or once.

janusd

Wheres_My_Cashback said:

Agreed, I think everyone's experience is valid, both positive and negative, but with that there has to be a realistic level of expectation and acceptance of the way they do things.
I'd also agree that login details should have arrived before now, but perhaps you've just let your annoyance take over? You say no longer care about this, yet you take time to post it on a public forum! You clearly do care about it.

no - it's just that i've got nothing better to do with my time than share that experience and annoyance here lol

I don't have a lot of RS accounts, so i'm not as accustomed to, or as patient with, the peculiar BS procedures as others will be here... and I have no inclination or need to have as many as others have of them.

Wheres_My_Cashback said:

Would your time not be better spent talking to them? I'm sure something as simple as this could be rectified very simply, even If you have to go down the official complaint route.

calling them crossed my mind weeks ago for a split second, but that phone call would cost me and that just feels like throwing good money after bad - tbh, even if it were free, I would not be inclined to do it with them.
similarly with complaining - it crossed my mind, but for what end? i'm not one of those people that gleefully chases compensation; I won't want to use MonBS in the future; I don't want to waste time drafting a letter to them that ultimately achieves nothing - it's simpler to just make a couple of posts here and move on... which is what I will now do on this topic.

Wheres_My_Cashback said:

I get the general feeling some posters are happy to cut their nose off to spite their face by putting up their own self-induced blockers to making things easy for themselves or resolving issues.

the issue is resolved by never wasting time with MonBS again - that makes things easy for me!

I hear what you're saying on this, but we all have different requirements - my interest projections for this year & next make chasing MonBS for access of no interest to me (pun intended).

Altior

I won't be responding to the quotes of me, as I clearly stated that it would be my last post on the subject. That stands. 

However, I do need to clear up some misdirection. My original post on it was to explain the maths around the 13th payment (as there seemed to be some misunderstanding of why it might be attractive to do it). But that it's not something that I am doing myself. I did not (as seems to be being alleged), feel that anybody would or should be interested in what I was doing in the abstract. It was just context to my original post. 

subjecttocontract

This time last year I opened a TSB regular saver @ 2.5%.........how the world has moved on !

Nick_C

Could we please all stay on topic

trickydicky14

DJDools 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 am having the same issues.

I am not attempting to make excuses for MBS but the current postal service in this country is !!!!!!.

Recently I have had several periods without mail for up to a week. Despite Royal Mail are contracted to deliver six days a week, I have had to travel 8 miles round trip to collect my post from the sorting office only to be told we don’t have the staff. This is happening all over the place. So it may not always be down to a poor service from the sender.

schiff

Stafford Railway

I know I have to write to them in order to send my passbook - to close the account - but is there a way of getting a faster payment rather than a cheque, by attaching a cancelled cheque as evidence of the target account? Any experiences of this?

TIA