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Regular Savings Accounts: The Best Currently Available List!

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  • jameseonline
    jameseonline Posts: 1,142 Forumite
    1,000 Posts First Anniversary Name Dropper
    WillPS said:
    I'm thinking it might be worth exploring opening an easy access account with Monmouthshire now.

    Had a regular saver with them ages ago, did nothing with it after funding it once because I didn't realise how old fashioned they were, like they sent passbook, had no idea what they were, for a while they kept being like we can send you a cheque etc, eventually more recently they were like they can send money back to the account I paid them from.

    So my question would be are they still going to give me a passbook?, can I easily get at MY money ?, they still old fashioned etc?
    They send passbook by post, but you don't have to send it back to get your money. On maturity, I let the accounts morph into easy access and request transfer from there to my bank account.
    Do Monmouthshire require me to do paperwork so like signatures, do I need to get codes or whatever to my phone/through post?, send ID etc?.

    Is the website easy to request my money out, like they do fast payments?, will I be wanting several days for money?.

    Sorry if this seems a bit much but I want to be sure before starting things up again with them, even if this time I'm only going to initially set up an easy access with them to build up loyalty/get in the system 
    In common with all building societies I know of (other than Nationwide) you won't have immediate access to your money unless you go to an agency or branch; in the case of the former there are limits on the amount of cash but they'll normally sort out a cheque for you. You can request a withdrawal online but there will be a wait.

    They will likely send paperwork for you to sign and return in the post, depending on whether or not they can revive the profile you had from last time.

    In order to get web access you need to wait for your passbook to be sent out, which will have your account number - then sign up. Then wait for them to send you an activation code by post. An app is promised and slated for the end of the year, but I imagine it'll be the same procedure then.

    Incidentally my wife and I 'nipped' to our nearest agency recently (Hereford, 2.5 hrs drive from Nottm - we didn't go specifically for the building society!) and received very good service; passbooks all dutifullly made up and my wife got her name changed - another one off the list!

    I'm very happy with the service we've received from Monmouthshire but it's certainly not a good fit if immediacy and modernity are priorities for you.
    They appear to be getting more modern so cheques shouldn't need to be anything again for me because they've proved they can credit my Virgin Money account.

    Surely they can email me my details? text my phone?

    I'm not interested in going to a branch/agency?(Even though I probably could living in Wales), I'm only interested in website/app access.

    I applied earlier so hopefully not going to be a total b ache.
  • WillPS
    WillPS Posts: 5,218 Forumite
    Part of the Furniture 1,000 Posts Newshound! Name Dropper
    edited 21 August 2024 at 5:06PM
    WillPS said:
    I'm thinking it might be worth exploring opening an easy access account with Monmouthshire now.

    Had a regular saver with them ages ago, did nothing with it after funding it once because I didn't realise how old fashioned they were, like they sent passbook, had no idea what they were, for a while they kept being like we can send you a cheque etc, eventually more recently they were like they can send money back to the account I paid them from.

    So my question would be are they still going to give me a passbook?, can I easily get at MY money ?, they still old fashioned etc?
    They send passbook by post, but you don't have to send it back to get your money. On maturity, I let the accounts morph into easy access and request transfer from there to my bank account.
    Do Monmouthshire require me to do paperwork so like signatures, do I need to get codes or whatever to my phone/through post?, send ID etc?.

    Is the website easy to request my money out, like they do fast payments?, will I be wanting several days for money?.

    Sorry if this seems a bit much but I want to be sure before starting things up again with them, even if this time I'm only going to initially set up an easy access with them to build up loyalty/get in the system 
    In common with all building societies I know of (other than Nationwide) you won't have immediate access to your money unless you go to an agency or branch; in the case of the former there are limits on the amount of cash but they'll normally sort out a cheque for you. You can request a withdrawal online but there will be a wait.

    They will likely send paperwork for you to sign and return in the post, depending on whether or not they can revive the profile you had from last time.

    In order to get web access you need to wait for your passbook to be sent out, which will have your account number - then sign up. Then wait for them to send you an activation code by post. An app is promised and slated for the end of the year, but I imagine it'll be the same procedure then.

    Incidentally my wife and I 'nipped' to our nearest agency recently (Hereford, 2.5 hrs drive from Nottm - we didn't go specifically for the building society!) and received very good service; passbooks all dutifullly made up and my wife got her name changed - another one off the list!

    I'm very happy with the service we've received from Monmouthshire but it's certainly not a good fit if immediacy and modernity are priorities for you.
    They appear to be getting more modern so cheques shouldn't need to be anything again for me because they've proved they can credit my Virgin Money account.

    Surely they can email me my details? text my phone?

    I'm not interested in going to a branch/agency?(Even though I probably could living in Wales), I'm only interested in website/app access.

    I applied earlier so hopefully not going to be a total b ache.

    They don't send out codes by SMS/email in my experience. Of course they potentially could, but they don't.
    You clearly know the limitations of the building society's admittedly anachronistic systems, so you have no excuse for not setting your own expectations accordingly now that you're chosing to do business with them again. Be patient and all is well.
  • PowerSavingMode
    PowerSavingMode Posts: 298 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    edited 21 August 2024 at 5:50PM
    I'm thinking it might be worth exploring opening an easy access account with Monmouthshire now.

    Had a regular saver with them ages ago, did nothing with it after funding it once because I didn't realise how old fashioned they were, like they sent passbook, had no idea what they were, for a while they kept being like we can send you a cheque etc, eventually more recently they were like they can send money back to the account I paid them from.

    So my question would be are they still going to give me a passbook?, can I easily get at MY money ?, they still old fashioned etc?
    They send passbook by post, but you don't have to send it back to get your money. On maturity, I let the accounts morph into easy access and request transfer from there to my bank account.
    Do Monmouthshire require me to do paperwork so like signatures, do I need to get codes or whatever to my phone/through post?, send ID etc?.

    Is the website easy to request my money out, like they do fast payments?, will I be wanting several days for money?.

    Sorry if this seems a bit much but I want to be sure before starting things up again with them, even if this time I'm only going to initially set up an easy access with them to build up loyalty/get in the system 
    I managed to do everything (apart from the signatory element) online, if I remember correctly. Here's a screenshot of the Monmouthshire Reg Saver application confirmation I received while applying — hope it helps:


  • gt94sss2
    gt94sss2 Posts: 6,157 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    DJDools said:
    I'm thinking it might be worth exploring opening an easy access account with Monmouthshire now.

    Had a regular saver with them ages ago, did nothing with it after funding it once because I didn't realise how old fashioned they were, like they sent passbook, had no idea what they were, for a while they kept being like we can send you a cheque etc, eventually more recently they were like they can send money back to the account I paid them from.

    So my question would be are they still going to give me a passbook?, can I easily get at MY money ?, they still old fashioned etc?
    They send passbook by post, but you don't have to send it back to get your money. On maturity, I let the accounts morph into easy access and request transfer from there to my bank account.
    Do Monmouthshire require me to do paperwork so like signatures, do I need to get codes or whatever to my phone/through post?, send ID etc?.

    Is the website easy to request my money out, like they do fast payments?, will I be wanting several days for money?.

    Sorry if this seems a bit much but I want to be sure before starting things up again with them, even if this time I'm only going to initially set up an easy access with them to build up loyalty/get in the system 
    I managed to do everything (apart from the signatory element) online, if I remember correctly. Here's a screenshot of the Monmouthshire Reg Saver application confirmation I received while applying — hope it helps:


    From memory, Monmouthshire consider the account opened on the day, they get the first deposit 

    Even so, does anyone know how long the identify identity electronically process takes and is it automated? I note that some have already managed to fund their new accounts..
  • 10_66
    10_66 Posts: 3,474 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    10_66 said:
    Monmouthshire BS

    Anyone else got their 7% saver maturing shortly and not had any maturity info yet? 
    My 8% matures next Friday (30th) and I finally got the maturity letter this week, and the 7% matures 04/09 so surprised I've not heard anything from them about maturity options yet. I was hoping I could maybe give maturity instructions if I signed in, but there isn't anything about maturity options online. Am guessing I will just have to let them mature into Easy Access and move the money myself afterwards. On that thought, will they open new EA accounts or use the one I already have?
    If you wish to re-invest with them, you can give instructions via;
    apply.monbs.com/switch-savings
    For that you need the Security Code from the maturity letter
    Oops, apologies.  Yes, of course you do.
  • Catplan
    Catplan Posts: 418 Forumite
    Sixth Anniversary 100 Posts Name Dropper
    gt94sss2 said:
    DJDools said:
    I'm thinking it might be worth exploring opening an easy access account with Monmouthshire now.

    Had a regular saver with them ages ago, did nothing with it after funding it once because I didn't realise how old fashioned they were, like they sent passbook, had no idea what they were, for a while they kept being like we can send you a cheque etc, eventually more recently they were like they can send money back to the account I paid them from.

    So my question would be are they still going to give me a passbook?, can I easily get at MY money ?, they still old fashioned etc?
    They send passbook by post, but you don't have to send it back to get your money. On maturity, I let the accounts morph into easy access and request transfer from there to my bank account.
    Do Monmouthshire require me to do paperwork so like signatures, do I need to get codes or whatever to my phone/through post?, send ID etc?.

    Is the website easy to request my money out, like they do fast payments?, will I be wanting several days for money?.

    Sorry if this seems a bit much but I want to be sure before starting things up again with them, even if this time I'm only going to initially set up an easy access with them to build up loyalty/get in the system 
    I managed to do everything (apart from the signatory element) online, if I remember correctly. Here's a screenshot of the Monmouthshire Reg Saver application confirmation I received while applying — hope it helps:


    From memory, Monmouthshire consider the account opened on the day, they get the first deposit 

    Even so, does anyone know how long the identify identity electronically process takes and is it automated? I note that some have already managed to fund their new accounts..
    Last year it took me a couple of weeks as a new member, to get online access and fund the accounts.  I didn’t need to send ID, just return the signature, wait on passbooks wait on online access. 

    I have applied today but not heard anything further, don’t have account number to add and fund online as yet. 
  • Hattie627
    Hattie627 Posts: 400 Forumite
    100 Posts Second Anniversary Name Dropper
    Those of us who have applied today for the new Mon BS Exclusive RS and are awaiting the signature form and account details:- I think we will be lucky to get the first payment in by the end of the month but we shall see.

    As someone pointed out upthread, Mon BS account-opening procedures are not the quickest, so it is best to be aware of this and be patient. They get there in the end.

    Although the 6% rate is variable, I reckon that it will be maintained for the full year unless there is more than one base rate drop between now and then. So definitely worth having this account, IMHO.
  • FIREmenow
    FIREmenow Posts: 375 Forumite
    100 Posts Second Anniversary Name Dropper

    Accounts only for people who live locally or existing members


    Interest rate: 6% gross p.a. variable (this interest rate first noted by me on 8th July 2023)
    Monthly payment: £1-£300
    Miss any payments: Can miss three payments per calendar year
    Penalty-free withdrawals: Three per calendar year
    Age of applicant: Not specified
    How to open account: Branch or post
    Special conditions: The account matures after 36 months. Available only to existing members or people who live in Cumbria, Northumberland, Tyne & Wear, County Durham, Lancashire and Yorkshire.
    Hi, thanks for this great thread!
    Was just looking at this link and it seems to be NLA. Unless you have to create an account or something first? The summary box is still showing at the bottom but it looks like it shouldn't be there.
  • Bridlington1
    Bridlington1 Posts: 3,894 Forumite
    1,000 Posts Third Anniversary Photogenic Name Dropper
    Hattie627 said:
    Those of us who have applied today for the new Mon BS Exclusive RS and are awaiting the signature form and account details:- I think we will be lucky to get the first payment in by the end of the month but we shall see.

    As someone pointed out upthread, Mon BS account-opening procedures are not the quickest, so it is best to be aware of this and be patient. They get there in the end.

    Although the 6% rate is variable, I reckon that it will be maintained for the full year unless there is more than one base rate drop between now and then. So definitely worth having this account, IMHO.
    Possibly, but if I'm not mistaken last year MBS launched their 7% and 8% regular savers on 23/8/23 yet many, myself included, were able to get payments in by the end of August (just).

    We should be receiving online signatory forms in the post within the next week or so, these should contain the regular saver account number, which you can then use to fund the account using the sort code/account numbers in any MBS passbook.

    Moreover I'd expect that this time round they may not be as busy as last year given that they've imposed a hard cut off date for eligibility and they're only offering the one regular saver (with a reduced rate from last year, albeit with a higher maximum monthly deposit).

    I'd agree on your point about being patient with MBS though, I'd imagine they'll still be rather busy at the moment and pestering them will only cause delays. I've applied for mine so I'm just going to let them get on with it till I hear more from them.
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