Regular Savings Accounts: The Best Currently Available List!

apt

Descrabled said:

Nationwide Flex RS 2 NLA

If you examine Flex RS 3 it has a minimum balance of £1 and a maximum balance of £5 million. This is because the regular saver morphs into an instant access account. Thus, it allows a 13th payment of £200 giving a grand total of £2600 in the 13th month. Flex RS 2 is a similar account with similar conditions but only 6.5% interest.

I reiterate that adding a 13th payment only gives about £1 extra interest at 8%, so I rarely contribute a 13th payment.

Note that the interest for either account is variable, in light of today's change in the BoE rate.

Although the accounts have variable interest in practice Nationwide regular savers have not changed interest rates. If they want to drop the rate they bring out a new issue and leave the rates for the NLA accounts unchanged.

JamesRobinson48

Monmouthshire BS:  RS 13th month

Yesterday I attempted to internally transfer £300 into my two in-flight Monmouthshire BS RS accounts (paying 8% and 7%), both of which mature later this month.  Both transfers were declined, on the grounds that the account maximum balance would be exceeded.  I had previously paid in the max £300 for 12 consecutive months, starting August 2023.

To the best of my knowledge, in each case the account T&Cs specify a monthly max of £300, but no max account balance is stipulated anywhere.

In other words, they're applying a "no 13th month" policy although none is stated in the account T&Cs.

Please, how did anyone in similar circumstances get on?   I assume there would be many in the same boat.  


EDIT:  the MonBS has now sent me a secure message which states: 

"The maximum account balance is £3600".   

So best of luck to everyone trying for a 13th month!

crumpet_man

financialbliss said:

crumpet_man said:

financialbliss said:

I also previously switched out of VM as their regular savers / savings products got non-competive. 

So, needed to apply for a current account first. Said yes to the question "Do you have an existing current account with us?" which allowed me to use my stored login details. Requested a joint account. That bit went well.

Two regular savers just applied for, but encountered "technical difficulties" and accounts won't be available until in the morning... Still, better than being blocked at the current account application stage!

Why/how did you apply for two regular savers?  Is one of them for someone else?

Sorry - badly worded. One joint current account to meet current account requirements and a regular saver for myself and wife.

Thanks for clarifying, I was hoping I had missed a loophole to get two regular savers

Chadsman

JamesRobinson48 said:

Monmouthshire BS:  RS 13th month

Yesterday I attempted to internally transfer £300 into my two in-flight Monmouthshire BS RS accounts (paying 8% and 7%), both of which mature later this month.  Both transfers were declined, on the grounds that the account maximum balance would be exceeded.  I had previously paid in the max £300 for 12 consecutive months, starting August 2023.

To the best of my knowledge, in each case the account T&Cs specify a monthly max of £300, but no max account balance is stipulated anywhere.

In other words, they're applying a "no 13th month" policy although none is stated in the account T&Cs.

Please, how did anyone in similar circumstances get on?   I assume there would be many in the same boat.  

Do you say this because you have had payments returned or because payments are not yet showing up online on the Monmouthshire website?
In my experience payments to MBS accounts can take two working days to show up online. I also made 13th payments into regular savers yesterday which should take the balance over £3,600, these have not yet been returned.

JamesRobinson48

Chadsman said:

JamesRobinson48 said:

Monmouthshire BS:  RS 13th month

Yesterday I attempted to internally transfer £300 into my two in-flight Monmouthshire BS RS accounts (paying 8% and 7%), both of which mature later this month.  Both transfers were declined, on the grounds that the account maximum balance would be exceeded.  I had previously paid in the max £300 for 12 consecutive months, starting August 2023.

To the best of my knowledge, in each case the account T&Cs specify a monthly max of £300, but no max account balance is stipulated anywhere.

In other words, they're applying a "no 13th month" policy although none is stated in the account T&Cs.

Please, how did anyone in similar circumstances get on?   I assume there would be many in the same boat.  

Do you say this because you have had payments returned or because payments are not yet showing up online on the Monmouthshire website?
In my experience payments to MBS accounts can take two working days to show up online. I also made 13th payments into regular savers yesterday which should take the balance over £3,600, these have not yet been returned.

Thanks. I say this because someone in the MonBS has sent me a secure message stating that my online instruction for internal transfers from a MonBS EA into my two MonBS RS has been declined, on the grounds that the RS account max permitted balances would thereby be exceeded. 

flaneurs_lobster

JamesRobinson48 said:

Chadsman said:

JamesRobinson48 said:

Monmouthshire BS:  RS 13th month

Yesterday I attempted to internally transfer £300 into my two in-flight Monmouthshire BS RS accounts (paying 8% and 7%), both of which mature later this month.  Both transfers were declined, on the grounds that the account maximum balance would be exceeded.  I had previously paid in the max £300 for 12 consecutive months, starting August 2023.

To the best of my knowledge, in each case the account T&Cs specify a monthly max of £300, but no max account balance is stipulated anywhere.

In other words, they're applying a "no 13th month" policy although none is stated in the account T&Cs.

Please, how did anyone in similar circumstances get on?   I assume there would be many in the same boat.  

Do you say this because you have had payments returned or because payments are not yet showing up online on the Monmouthshire website?
In my experience payments to MBS accounts can take two working days to show up online. I also made 13th payments into regular savers yesterday which should take the balance over £3,600, these have not yet been returned.

Thanks. I say this because someone in the MonBS has sent me a secure message stating that my online instruction for internal transfers from a MonBS EA into my two MonBS RS has been declined, on the grounds that the RS account max permitted balances would thereby be exceeded. 

Can only concur with @JamesRobinson48 (no a/c max in documentation) and @Chadsman (my FP's have yet to show). If the FP's are bounced tomorrow is there any point in raising a query/complaint? "Lost" interest would be somewhere around £4 across both accounts.

Chadsman

JamesRobinson48 said:

Chadsman said:

JamesRobinson48 said:

Monmouthshire BS:  RS 13th month

Yesterday I attempted to internally transfer £300 into my two in-flight Monmouthshire BS RS accounts (paying 8% and 7%), both of which mature later this month.  Both transfers were declined, on the grounds that the account maximum balance would be exceeded.  I had previously paid in the max £300 for 12 consecutive months, starting August 2023.

To the best of my knowledge, in each case the account T&Cs specify a monthly max of £300, but no max account balance is stipulated anywhere.

In other words, they're applying a "no 13th month" policy although none is stated in the account T&Cs.

Please, how did anyone in similar circumstances get on?   I assume there would be many in the same boat.  

Do you say this because you have had payments returned or because payments are not yet showing up online on the Monmouthshire website?
In my experience payments to MBS accounts can take two working days to show up online. I also made 13th payments into regular savers yesterday which should take the balance over £3,600, these have not yet been returned.

Thanks. I say this because someone in the MonBS has sent me a secure message stating that my online instruction for internal transfers from a MonBS EA into my two MonBS RS has been declined, on the grounds that the RS account max permitted balances would thereby be exceeded. 

If they return my payments I will ask where in the T&Cs it says the maximum balance is £3,600. I have had run ins before with providers not sticking to their own T&Cs.

drphila

drphila said:

Frogletina said:

Bigwheels1111 said:

Which Virgin account do I need for this offer.

The M Plus current account, then apply for the regular savings account

Or M* or Club M

https://uk.virginmoney.com/current-accounts/

* in-store only

All Virgin current account applications incur hard credit check

schiff

My Monmouths haven't been returned either - yet. 
I think JR that the problem was the internal transfers.
If ours get away with it (till early next week say) maybe you could try again from an external account?
If you think it's worth it of course

schiff

Has anyone got an email address for Virgin customer services? I'm struggling to log on - I know my customer number and password but they aren't accepted. Severe deafness restricts using the phone. TIA