Regular Savings Accounts: The Best Currently Available List!

PRAISETHESUN

trickydicky14 said:

solartom said:

Re Monmouth Exclusive RS
Just heard back from Mommouth after sending message this morning 
they are stating that i have reached max balance for account and that funds would be back in my feeder account by end of play today 
i have quoted their own t&c back as discussed in thread that it says nowhere that there is max balance of £ 3600 and asked them to  please check again and get back to me

Well, while we are on the subject of 13 payments, what about the YBS loyalty RS. Could I squeeze £500 in on the first of Sept and make it 6.5K for the year?

Anecdotally, with the last YBS RS I held I accidently forgot to set my SO for 12 payments so I accidently made a 13th payment into the account. The extra payment did not get returned to me, and I'm pretty sure I got paid the appropriate amount of interest for the few weeks it was in my account before it matured.

chris_the_bee

PRAISETHESUN said:

trickydicky14 said:

solartom said:

Re Monmouth Exclusive RS
Just heard back from Mommouth after sending message this morning 
they are stating that i have reached max balance for account and that funds would be back in my feeder account by end of play today 
i have quoted their own t&c back as discussed in thread that it says nowhere that there is max balance of £ 3600 and asked them to  please check again and get back to me

Well, while we are on the subject of 13 payments, what about the YBS loyalty RS. Could I squeeze £500 in on the first of Sept and make it 6.5K for the year?

Anecdotally, with the last YBS RS I held I accidently forgot to set my SO for 12 payments so I accidently made a 13th payment into the account. The extra payment did not get returned to me, and I'm pretty sure I got paid the appropriate amount of interest for the few weeks it was in my account before it matured.

Nationwide do allow a 13th payment.

Snapdragon

Snapdragon said:

flaneurs_lobster said:

surreysaver 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.  


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!

Mine is funded by standing order and the money hasn't come back

But has the money been credited to your account(s)?

My guess is no. When I tried to make a 13th payment to the Coronation Saver it took the best part of a week for the funds to be returned.

I have both the 7% (opened early Sept) hence currently on 12th payment. The 8% (opened end of Aug) which I had left the standing order in place and tried to make 13th payment given that no max balance was mentioned in the T&Cs. Both SO's exit to Monmouth at the same time, 1st of month. The final payment to the 7% has already been credited as of the 2nd, the 13th payment to the 8% has NOT been credited, nor has it been returned yet.

Have just had confirmation the £300 (13th Monmouthshire payment) has been returned to my bank.

chris_the_bee

Snapdragon said:

Snapdragon said:

flaneurs_lobster said:

surreysaver 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.  


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!

Mine is funded by standing order and the money hasn't come back

But has the money been credited to your account(s)?

My guess is no. When I tried to make a 13th payment to the Coronation Saver it took the best part of a week for the funds to be returned.

I have both the 7% (opened early Sept) hence currently on 12th payment. The 8% (opened end of Aug) which I had left the standing order in place and tried to make 13th payment given that no max balance was mentioned in the T&Cs. Both SO's exit to Monmouth at the same time, 1st of month. The final payment to the 7% has already been credited as of the 2nd, the 13th payment to the 8% has NOT been credited, nor has it been returned yet.

Have just had confirmation the £300 (13th Monmouthshire payment) has been returned to my bank.

Same here.
I hope they can cope with the incoming phone calls and complaints.

surreysaver

Just had two lots of £300 returned from Monmouthshire. Obviously no mention of maximum balances mentioned in the T&Cs

clowning

trickydicky14 said:

solartom said:

Re Monmouth Exclusive RS
Just heard back from Mommouth after sending message this morning 
they are stating that i have reached max balance for account and that funds would be back in my feeder account by end of play today 
i have quoted their own t&c back as discussed in thread that it says nowhere that there is max balance of £ 3600 and asked them to  please check again and get back to me

Well, while we are on the subject of 13 payments, what about the YBS loyalty RS. Could I squeeze £500 in on the first of Sept and make it 6.5K for the year?

I made a 13th Payment into my YBS Regular esaver account last month and it wasn’t returned. I think I received appropriate interest on it when it matured last week. I will be trying the same with my loyalty R/S in a couple of months

Hattie627

Monmouthshire BS

Most of the accounts affected will be coming up for maturity at the end of this month. I am slightly concerned that a small society such as MBS will become overwhelmed if there is a flood of individual complaints on the issue which has affected those of us who made a 13th payment in good faith, and that this will impede their efficiency in dealing with the maturity procedures later this month.I have decided not to make an individual complaint on the basis that Mon BS will be aware of the situation and, hopefully, will take more care next time. While inconvenienced slightly, my monetary loss has been minimal and compensation was never the issue here.

Stargunner

chris_the_bee said:

Snapdragon said:

Snapdragon said:

flaneurs_lobster said:

surreysaver 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.  


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!

Mine is funded by standing order and the money hasn't come back

But has the money been credited to your account(s)?

My guess is no. When I tried to make a 13th payment to the Coronation Saver it took the best part of a week for the funds to be returned.

I have both the 7% (opened early Sept) hence currently on 12th payment. The 8% (opened end of Aug) which I had left the standing order in place and tried to make 13th payment given that no max balance was mentioned in the T&Cs. Both SO's exit to Monmouth at the same time, 1st of month. The final payment to the 7% has already been credited as of the 2nd, the 13th payment to the 8% has NOT been credited, nor has it been returned yet.

Have just had confirmation the £300 (13th Monmouthshire payment) has been returned to my bank.

Same here.
I hope they can cope with the incoming phone calls and complaints.

Is it really worth complaining, when all that we have missed out on is around a £1 of interest, considering that the deposit would have probably been earning around 5% elsewhere.

GetRichOrDieSaving

What’s the payment reference for the Virgin RS please? 

drphila

Wheres_My_Cashback said:

• Based on £300 being paid into the account each month for 12 months - However this is just an example of possible interest earnings which is stated due to legal requirements and is not a declaration of what will/can be earnt.
  

In any case, this illustration is in the Summary Box and is not mentioned in the Regular SaverT&Cs. 

It is the latter, together with the General T&Cs For Savings, on which our contract with MBS is based.