Regular Savings Accounts: The Best Currently Available List!

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!)

flaneurs_lobster

csw5780 said:

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!)

By month-end (aka calendar monthly).

janusdesign

SFindlay said:

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.

I will definitely be sticking to that - I can put up with slowness (yes I knew the previous MonBS issues), quaintness of procedures - but I at least expect to receive login details within a month... that's surely not too much to ask of any competent financial institution? they seem to think they've been sent - they definitely haven't arrived... perhaps they got addressed to someone else *sighs* - yes I could phone them, but I no longer care about this or the trivial amount of interest it would generate.

there is no stress on my part over this - just annoyance... if you're happy with MonBS, then i'm genuinely pleased for you, but at least allow me the freedom to tell others of my MonBS experience - they're both equally valid.

Altior

zagfles said:

Altior said:

I suspect some people are looking at it the wrong way. The '13th' payment is irrelevant. What is relevant is that if you used the workaround, you're effectively pulling forward the remaining payments after the first one, by almost a month. The overall 'effect' of that is similar to having a bonus payment at the beginning. 

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. 

Seriously? It's using the account the way it's designed to be used! NW have always done RS accounts like this, inc their "start to save" accounts. They are fully aware that nearly everyone will have 13 calendar months to increase their balance and that the second payment could be the day after the first if opened at the end of the month.

If they didn't like people doing this they'd have similar T&Cs to Santander where a "month" starts on the date the account is opened. 

There are some uber MSE ways of expoliting bank offers, such as using the NatWest "round up" facility to make hundreds of £1.01 debit card payments, that could well incur "wrath". But paying in £200 every calendar month to an account that allows £200 every calendar month? Nah...

I'm not sure if you read through what I wrote, that was the question for me. I also wrote, almost certainly it would not [be a problem]. I feel it is self evident that the account is not designed to be used that way, as it discusses the total interest over the period in the terms, and this would not include using the workaround of 13 payments.

People can do whatever they like, nudge any grey areas and potential loopholes they see fit. I do so myself, but the rather modest gain on this one doesn't justify any perceived risk to me of losing access to all of Nationwide's products and profit distribution.

To be clear, I have over £50K in stoozing funds, and about 20% is from Nationwide. So I am already funding this new account with their own capital  

Wheres_My_Cashback

janusdesign said:

SFindlay said:

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.

I will definitely be sticking to that - I can put up with slowness (yes I knew the previous MonBS issues), quaintness of procedures - but I at least expect to receive login details within a month... that's surely not too much to ask of any competent financial institution? they seem to think they've been sent - they definitely haven't arrived... perhaps they got addressed to someone else *sighs* - yes I could phone them, but I no longer care about this or the trivial amount of interest it would generate.

there is no stress on my part over this - just annoyance... if you're happy with MonBS, then i'm genuinely pleased for you, but at least allow me the freedom to tell others of my MonBS experience - they're both equally valid.

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.
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.

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.