Regular Savings Accounts: The Best Currently Available List!

Growingold

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.

Wheres_My_Cashback

Altior said:

The question for me would be is that risking the potential wrath of Nationwide. Almost certainly not, but the modest upside isn't worth the risk, even if it's a well worn tactic. 

There really is no question, you're making non-valid assumptions and interpretations of terms.
Don't think you can risk the potential wrath of any organisation for implicitly following their terms by depositing funds as they suggest, once pcm up to the max permisable per month. There are dozens of organisations who operate like this.

The exceptions are those who stipulate an account maximum balance or those who only allow a monthly payment based upon account opening date...Santander/FD/HSBC/Coventry etc

It's not a loophole and no shenanigans are taking place, you're simply using the account in the most effective way.

Wheres_My_Cashback

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.

r6mile

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online system is a joke and the fact that resetting a password requires a letter to be sent in the post is ridiculously outdated!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...

pecunianonolet

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).

WillPS

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

No access? There are instructions in the passbook for making withdrawals by post, and in a pinch one could always have a day trip to the Welsh border.

I have no intention of removing any of the funds until maturity.

janusdesign

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!!!