Regular Savings Accounts: The Best Currently Available List!

jaypers

Looks like the interest for the YBS Christmas Regular Saver has been credited today. Mine showing as £40.95

TheWoodler

Does anyone else find it strange that Principality launch the Christmas Saver at 7% after sending out the letters for the Maturity Winter RS, in which the only RS option was the 5.5% option set out in the literature? 

I selected that online and then a few days later they launch this Christmas RS at 7%. The 5.5% product has a bigger monthly pay-in, but the 7% product has the same pay-in as the maturing Winter RS, not least in nomenclature* and would have made more sense to me anyway as the maturity option/loyalty product/rollover.

*IIRC the original product for the Maturity Winter Saver was a Christmas Saver 22-23!

It’s not a problem for me personally in that I can afford to open both, with the 5.5% set as my maturity option - but I find it odd the new 7% one wasn’t included as an option with my paperwork. It does seem slightly odd. 

I tipped Mr Woodler the wink, he rang up and sorted it as his maturity option, so it’s possible. 

jaypers

TheWoodler said:

Does anyone else find it strange that Principality launch the Christmas Saver at 7% after sending out the letters for the Maturity Winter RS, in which the only RS option was the 5.5% option set out in the literature? 

I selected that online and then a few days later they launch this Christmas RS at 7%. The 5.5% product has a bigger monthly pay-in, but the 7% product has the same pay-in as the maturing Winter RS, not least in nomenclature* and would have made more sense to me anyway as the maturity option/loyalty product/rollover.

*IIRC the original product for the Maturity Winter Saver was a Christmas Saver 22-23!

It’s not a problem for me personally in that I can afford to open both, with the 5.5% set as my maturity option - but I find it odd the new 7% one wasn’t included as an option with my paperwork. It does seem slightly odd. 

I tipped Mr Woodler the wink, he rang up and sorted it as his maturity option, so it’s possible. 

It was probably just a case that it wasn’t an available option when the maturity options were prepared and sent out to you. Perhaps there was even an internal NDA around the product until a certain date. 

TheWoodler

Same week though? The launch was literally 2 days after receiving my maturity pack. It doesn’t feel very coordinated to me.

Angelica123

ToastLady said:

WindfallWendy said:

Trying to open a Christmas saver with PBS. Am an existing customer but it keeps running into a problem. Will probably go into branch to sort it out as I'm not a fan of BS online services to be honest. MHBS feels like I've gone back in time by about 20 years!

Anyway apologies for mini-rant. I just wondered if anyone else (existing PBS customers) had been having a problem too?

I had a few error problems too last night. Tried link supplied by ForumUser7 and got in and up and set up new account within a few minutes. https://online.principality.co.uk/Originations/LaunchPage.aspx?ProductCode=6081&ProductType=RegularSaver&CIJ=true#!

I had similar issue and link worked a treat. 

Kim_13

TheWoodler said:

Same week though? The launch was literally 2 days after receiving my maturity pack. It doesn’t feel very coordinated to me.

How long is it until your maturity date? Maybe it’ll turn out that they won’t still be offering it at that point.

AndyTh_2

jaypers said:

Looks like the interest for the YBS Christmas Regular Saver has been credited today. Mine showing as £40.95

yes credited but seems forward-dated. I closed mine today after and got a reverse interest of about -£1 (about the amount that it'd have earned over the next few days before maturity).

mebu60

jaypers said:

Looks like the interest for the YBS Christmas Regular Saver has been credited today. Mine showing as £40.95

I'm planning to close on Thursday and transfer out so that I get the funds on Friday rather than next week. 

TheWoodler

Kim_13 said:

TheWoodler said:

Same week though? The launch was literally 2 days after receiving my maturity pack. It doesn’t feel very coordinated to me.

How long is it until your maturity date? Maybe it’ll turn out that they won’t still be offering it at that point.

Maturity pack dated 17 October for a maturity date 3 November for us both - mine received 21 October, Mr W 22 October. 7% Saver launch 24 October, right slap bang in the middle of the period between options going out and maturity. 

Same monthly pay-in (£125), similar nomenclature (Winter Saver/Christmas Saver), would have been an ideal rollover product, especially as you keep your old number etc. 

It just does not seem joined-up. There’s possibly a commercial reason for it that eludes me, but it has left me feeling that loyalty isn’t valued. I can rollover to 5.5% according to my maturity pack, or bonds at less than competitive rates, but a new customer walking past a window with that headline rate (for example) could open a Christmas Saver account at 7% the same week that I’ve chosen my option. It’s a bit too close to a loyalty penalty for my liking, and I wouldn’t have known about it were it not for this forum. I’m signed up to updates but no email blurb etc.

(I know the 5.5% has a more generous pay-in but not everyone will be able to commit to that.)

ForumUser7

TheWoodler said:

Kim_13 said:

TheWoodler said:

Same week though? The launch was literally 2 days after receiving my maturity pack. It doesn’t feel very coordinated to me.

How long is it until your maturity date? Maybe it’ll turn out that they won’t still be offering it at that point.

Maturity pack dated 17 October for a maturity date 3 November for us both - mine received 21 October, Mr W 22 October. 7% Saver launch 24 October, right slap bang in the middle of the period between options going out and maturity. 

Same monthly pay-in (£125), similar nomenclature (Winter Saver/Christmas Saver), would have been an ideal rollover product, especially as you keep your old number etc. 

It just does not seem joined-up. There’s possibly a commercial reason for it that eludes me, but it has left me feeling that loyalty isn’t valued. I can rollover to 5.5% according to my maturity pack, or bonds at less than competitive rates, but a new customer walking past a window with that headline rate (for example) could open a Christmas Saver account at 7% the same week that I’ve chosen my option. It’s a bit too close to a loyalty penalty for my liking, and I wouldn’t have known about it were it not for this forum. I’m signed up to updates but no email blurb etc.

(I know the 5.5% has a more generous pay-in but not everyone will be able to commit to that.)

PBS' decision doesn't make sense to me.

You're right that the Maturity Winter Regular Saver was offered as a maturity product for the original Christmas Regular Saver.

I had therefore expected PBS would offer either another Maturity WRS, or a CRS to mature the product into and was surprised when this wasn't mentioned in the pack.

The only thing I can think of would be:

• PBS had to send maturity pack by a certain date
• On that date, the CRS was not ready so they could not advertise it
• CRS ended up being ready between packs being sent out and maturity occurring so they allow people to select it over the phone/maybe in branch too
• Online Portal Maturity Page already set up so they couldn't amend to allow the maturity to be set online??

Regardless, very little makes sense about this decision.