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Descrabled

NatWest & RBS digital RS

I managed to accrue £5000 in these accounts last November. I withdraw the interest on the first working day of the month. I calculate the interest as £300*days in month/365. For July this equates to £25.479, and I withdrew £25.48 on 1 August (the day before interest shows in accounts).

Note that they ignore the leap year being 366 days.

fabsaver

Monmouthshire: 8% Exclusive Regular Saver & 7% Regular Saver Issue 2

My 1st August 13th deposits haven't been credited yet to either account. I've checked the terms for both these accounts and they definitely do not state anything about a £3,600 maximum balance (their earlier Coronation Regular Saver did have such a term).

If my deposits get returned I'll be complaining and quoting their own terms at them. If anyone didn't save a copy then archived copies of the summary box and terms are linked in this helpful post by @Bridlington1

dcs34

fabsaver said:

Monmouthshire: 8% Exclusive Regular Saver & 7% Regular Saver Issue 2

My 1st August 13th deposits haven't been credited yet to either account. I've checked the terms for both these accounts and they definitely do not state anything about a £3,600 maximum balance (their earlier Coronation Regular Saver did have such a term).

If my deposits get returned I'll be complaining and quoting their own terms at them. If anyone didn't save a copy then archived copies of the summary box and terms are linked in this helpful post by @Bridlington1

Monmouthshire: 8% Exclusive Regular Saver & 7% Regular Saver Issue 2

I have pre-empted by sending them a secure message asking why the deposits have not been received or returned. Hopefully this will get them to state what they think the T&Cs say / should be, so I can respond with what they actually do say (or, in this case, don't say).

gt94sss2

dcs34 said:

fabsaver said:

Monmouthshire: 8% Exclusive Regular Saver & 7% Regular Saver Issue 2

My 1st August 13th deposits haven't been credited yet to either account. I've checked the terms for both these accounts and they definitely do not state anything about a £3,600 maximum balance (their earlier Coronation Regular Saver did have such a term).

If my deposits get returned I'll be complaining and quoting their own terms at them. If anyone didn't save a copy then archived copies of the summary box and terms are linked in this helpful post by @Bridlington1

Monmouthshire: 8% Exclusive Regular Saver & 7% Regular Saver Issue 2

I have pre-empted by sending them a secure message asking why the deposits have not been received or returned.

Monmouthshire BS are often slow to show RS deposits on their internet banking platform. I assume they will show by Monday/Tuesday based on their past behaviour.

I suspect the staff member who thought that members couldn't pay in more than £3,600 into these was just getting confused with other MonBS regular savers which did have a maximum balance stated

fabsaver

gt94sss2 said:

dcs34 said:

fabsaver said:

Monmouthshire: 8% Exclusive Regular Saver & 7% Regular Saver Issue 2

My 1st August 13th deposits haven't been credited yet to either account. I've checked the terms for both these accounts and they definitely do not state anything about a £3,600 maximum balance (their earlier Coronation Regular Saver did have such a term).

If my deposits get returned I'll be complaining and quoting their own terms at them. If anyone didn't save a copy then archived copies of the summary box and terms are linked in this helpful post by @Bridlington1

Monmouthshire: 8% Exclusive Regular Saver & 7% Regular Saver Issue 2

I have pre-empted by sending them a secure message asking why the deposits have not been received or returned.

Monmouthshire BS are often slow to show RS deposits on their internet banking platform. I assume they will show by Monday/Tuesday based on their past behaviour.

I suspect the staff member who thought that members couldn't pay in more than £3,600 into these was just getting confused with other MonBS regular savers which did have a maximum balance stated

That's what I thought until a couple of posters on here this morning stated that their August deposits to the 7% account are showing. They were the 12th deposits and not 13th.
https://forums.moneysavingexpert.com/discussion/comment/80918822/#Comment_80918822

flaneurs_lobster

dcs34 said:

fabsaver said:

Monmouthshire: 8% Exclusive Regular Saver & 7% Regular Saver Issue 2

My 1st August 13th deposits haven't been credited yet to either account. I've checked the terms for both these accounts and they definitely do not state anything about a £3,600 maximum balance (their earlier Coronation Regular Saver did have such a term).

If my deposits get returned I'll be complaining and quoting their own terms at them. If anyone didn't save a copy then archived copies of the summary box and terms are linked in this helpful post by @Bridlington1

Monmouthshire: 8% Exclusive Regular Saver & 7% Regular Saver Issue 2

I have pre-empted by sending them a secure message asking why the deposits have not been received or returned. Hopefully this will get them to state what they think the T&Cs say / should be, so I can respond with what they actually do say (or, in this case, don't say).

Are you hoping to squeeze some compo out of MonBS?

dcs34

flaneurs_lobster said:

dcs34 said:

fabsaver said:

Monmouthshire: 8% Exclusive Regular Saver & 7% Regular Saver Issue 2

My 1st August 13th deposits haven't been credited yet to either account. I've checked the terms for both these accounts and they definitely do not state anything about a £3,600 maximum balance (their earlier Coronation Regular Saver did have such a term).

If my deposits get returned I'll be complaining and quoting their own terms at them. If anyone didn't save a copy then archived copies of the summary box and terms are linked in this helpful post by @Bridlington1

Monmouthshire: 8% Exclusive Regular Saver & 7% Regular Saver Issue 2

I have pre-empted by sending them a secure message asking why the deposits have not been received or returned. Hopefully this will get them to state what they think the T&Cs say / should be, so I can respond with what they actually do say (or, in this case, don't say).

Are you hoping to squeeze some compo out of MonBS?

I'd like them to operate their accounts in accordance with their own T&Cs.

Hattie627

dcs34 said:

flaneurs_lobster said:

dcs34 said:

fabsaver said:

Monmouthshire: 8% Exclusive Regular Saver & 7% Regular Saver Issue 2

My 1st August 13th deposits haven't been credited yet to either account. I've checked the terms for both these accounts and they definitely do not state anything about a £3,600 maximum balance (their earlier Coronation Regular Saver did have such a term).

If my deposits get returned I'll be complaining and quoting their own terms at them. If anyone didn't save a copy then archived copies of the summary box and terms are linked in this helpful post by @Bridlington1

Monmouthshire: 8% Exclusive Regular Saver & 7% Regular Saver Issue 2

I have pre-empted by sending them a secure message asking why the deposits have not been received or returned. Hopefully this will get them to state what they think the T&Cs say / should be, so I can respond with what they actually do say (or, in this case, don't say).

Are you hoping to squeeze some compo out of MonBS?

I'd like them to operate their accounts in accordance with their own T&Cs.

Good point. Like most people on here, I am a careful saver and usually check T and Cs carefully before doing something slightly unusual, like making a 13th RS payment. I checked by posting on here well before 1 August whether 13th payments were allowed for the two MonBS RS's. Somebody gave me the link to the archived T and Cs which I checked carefully before making the 13th payments. Having taken the trouble to do this as a customer, I expect a deposit-taking institution to take as much care in applying their own T and Cs. My two 13th payments, sent by SO early on 1 August, are not showing yet so presumably will be returned. This will result in a loss of interest, plus a certain degree of inconvenience. I will certainly be raising this as an issue with Monmouthshire.

jameseonline

Stargunner said:

ForumUser7 said:

NatWest and RBS Digital Regular Savers

Rate above 5k drops to 1.60% from 1.75% effective 29th August. Headline rate of 6.17% up to and including 5k remains

Surely, no one is daft enough to keep over £5k in any of those accounts, so it wont have any relevance.

You'd hope people wouldn't but I bet there's a few that do.

Idiot tax 🤣

trickydicky14

jameseonline said:

Stargunner said:

ForumUser7 said:

NatWest and RBS Digital Regular Savers

Rate above 5k drops to 1.60% from 1.75% effective 29th August. Headline rate of 6.17% up to and including 5k remains

Surely, no one is daft enough to keep over £5k in any of those accounts, so it wont have any relevance.

You'd hope people wouldn't but I bet there's a few that do.

Idiot tax 🤣

A few more than a few me thinks