Regular Savings Accounts: The Best Currently Available List!

housebuyer143

Can YBS regular saver be paid into on the 1st of each month or does it have to be on the opening date? 

Nick_C

housebuyer143 said:

Can YBS regular saver be paid into on the 1st of each month or does it have to be on the opening date? 

1st of the month is fine (if they haven't closed your account by then!) 

Did you open it in branch, or on line? 

housebuyer143

Nick_C said:

housebuyer143 said:

Can YBS regular saver be paid into on the 1st of each month or does it have to be on the opening date? 

1st of the month is fine (if they haven't closed your account by then!) 

Did you open it in branch, or on line? 

Opened it online. I hope they don't 🤞🤞 transferred £1 to it as well so ill wait to see if it goes in before I send anymore. I kind of thought it wouldn't let me open it if I didn't qualify tbh. 🤔

10_66

Tipton & Coseley
I thought I'd seen earlier in the thread that you can open their Regular Saver via the app.  I've downloaded this, but can't see the Regular Saver listed.  I can see it's still available on their website via branch.  Have I got it wrong that you could apply via app?

SavingsBoo

PloughmansLunch said:

I got a different letter again for MonBS - I finally received My Accounts login details (although one funded account seems to have gone astray, so have tried to add manually). At the bottom of the letter it says As part of your registration, you submitted your bank details to allow withdrawals to your nominated bank account. Please complete the enclosed 'My Accounts' Nominated Bank Account Form* and please note we will also require evidence in the form of an original or certified copy of your bank statement. 

*I wasn't actually sent any form or details, only a single A4 letter with the Web user ID.

I hadn't thought about withdrawals but on checking I got the same letter (and no form enclosed either) - but my nominated account is showing online with status of 'Approved for transfers'.  The option to transfer to this account is also showing from my two regular saver accounts.  They certainly are quirky!

subjecttocontract

They are Welsh, I love the MBS. Last time in Cardiff I blew them a kiss as I passed the branch.😁😁

TiVo_Lad

pecunianonolet said:

I am not going to download a statement, mark all the transaction black (not their business to know), go to the local library to get a statement printed and paying at a post office to certify that copy.

It's entirely possible that they'd reject a statement that had been tampered with anyway. They won't care if you shop in Lidl or Waitrose, but if they can't validate that the transactions aren't "out of the ordinary" they may reject the application due to their KYC rules.

allegro120

pecunianonolet said:

subjecttocontract said:

Monmouth B/Soc.
I wasn't asked to do that and there's nothing special or out of the ordinary about me. I just downloaded their nominated account form, completed it and posted it to them. I got notification they received it by letter. Try it, it might work.

My letter is saying:

Registration for "My Accounts" online withdrawal facility

Thank you for providing us details of your bank account so that we can enable the online withdrawal facility of our "My Accounts" service for you.

As a security precaution we always confirm in writing the details you have provided as well as asking for evidence in the form of an original or certified copy of your bank statement.

So that we can ensure the information we have recorded in our system is accurate and for you to confirm your instructions, please check that the bank account details listed below are correct and then sign and return this letter within 30 days in the enclosed pre-paid envelope.

Once we have received the signed confirmation and evidence in the form of an original or certified copy of your bank statement, the online withdrawal facilities will be enabled on your accounts we we will send you a secure message to confirm this. 

Yours sincerely

Savings  & Customer Contact Department  

List of my details

I authorise the Monmouthshire Building Society to accept withdrawal request submitted via the "My Accounts" service using my User ID, password and item of memorable information in favour of the above bank account.

Sign:                              Date:


I added all the details when I applied for the online facility. The above is dated 15th September and the other page with the user ID is dated 26th September. 

I opened my first MonBS on 3rd December 2022.  The only piece of paper I had to send was my application form to open the account. To get my nominated bank account approved I just had to submit my sort code, account number and name online and it was approved next day.  I wonder why they could make it simple then, but can't do it now?

Rudyson

I spoke to Monmouth today, and was told I could download a pdf of my bank statement and send it off.

Section62

TiVo_Lad said:

pecunianonolet said:

I am not going to download a statement, mark all the transaction black (not their business to know), go to the local library to get a statement printed and paying at a post office to certify that copy.

It's entirely possible that they'd reject a statement that had been tampered with anyway. They won't care if you shop in Lidl or Waitrose, but if they can't validate that the transactions aren't "out of the ordinary" they may reject the application due to their KYC rules.

They won't be looking for "out of the ordinary" transactions.

What they will want to confirm is the name and address for the account holder matches the information they have been given when the MonBS account was opened (or the latest details).

This is an anti-money laundering issue rather than KYC - i.e. checking that the nominated account doesn't belong to a third party such that withdrawals would allow funds to be laundered.