Regular Savings Accounts: The Best Currently Available List!

Bobblehat

masonic said:

Bobblehat said:

qbadger said:

The maximum balance of Issue 1 as per its Terms is £3,750:

https://mhbs.co.uk/document/1YR01/

This wasn't the case when I saved the T&C's during the application process on 26.09.2024 ... they were saved as I showed them earlier, with max as £3000! Does this affect the table I posted, I don't think so? I still think the maximum interest to be had by 31.03.2026 is achieved by the 10/240 split and paying in £250 to Iss 2 after Iss 1 has matured. I'm prepared to be proved wrong!

The interest rate is the same, so prioritising the newer one will result in a higher carried balance when the other matures, and therefore more interest overall.

If they varied the maximum balance while the original one was on sale, I'm surprised they didn't notify you of updated T&C.

I've no memory of them notifying me ... but I've no excuse for missing the forum post by Kim_13 and signposted by Bridlington1. The forum is a more reliable source of such information 

ForumUser7

There was a discussion somewhere on the forum - I think it was something like with the duration of the account in terms of months, and a £250 per month, you’d exceed £3000 and reach £3750. People reported this to MHBS who subsequently updated the ts and cs. I agree though that customers who opened on the old terms should’ve been sent the new terms - bad form, I only knew about this from being on the forum.

The thing I’m really curious about is if the systems enforce the whole deposit limit! I.e. if it will let you pay £250 in each regardless of terms, and doesn’t just void the interest at the end of the term.

granta

Mansfield BS Kick Start (7th issue) RS

I've just realised the bonus comes to an end in the next few days and overall interest rate drops to 4%. I'd like to withdraw funds - does anyone know if this can be done electronically via online secure message or any other quick way without sending passbook etc?

akh43

BestSeagull said:

My Nationwide Flex RS has just matured. I tried to open the current one but the system tells me I can't because I already have a RS.
Any idea how long it will take to sort itself out?

Mine matured on 21st and had already transferred to a new EA account when I logged in today and I was able to open a new RS and fund today.

Bridlington1

granta said:

Mansfield BS Kick Start (7th issue) RS

I've just realised the bonus comes to an end in the next few days and overall interest rate drops to 4%. I'd like to withdraw funds - does anyone know if this can be done electronically via online secure message or any other quick way without sending passbook etc?

Sadly not I'm afraid. If you wish to make withdrawals/close the account you'd need to produce the passbook, this must be done in branch or by post.

granta

Bridlington1 said:

granta said:

Mansfield BS Kick Start (7th issue) RS

I've just realised the bonus comes to an end in the next few days and overall interest rate drops to 4%. I'd like to withdraw funds - does anyone know if this can be done electronically via online secure message or any other quick way without sending passbook etc?

Sadly not I'm afraid. If you wish to make withdrawals/close the account you'd need to produce the passbook, this must be done in branch or by post.

Thanks. Kicking myself for not getting this sorted before Christmas!

Dizzycap

Bridlington1 said:

qbadger said:

So if you've already funded the 1st issue in full this month, you'll need to wait until 02 Jan before funding the 2nd issue?

I've fully funded the 1st issue and have just opened issue 2. I shall send £10 across to issue 2 tomorrow as an experiment so shall report back whether the £250 combined monthly deposit rule is actually enforced in practice.

I have 2 x Issue 1 which I credit the maximum of £250 in each RS each month and have done for the past 4 months. Interest for those 2 x Issue 1 RS has also been applied in December as per the T&C's.

I have now opened Issue 2 which I have credited £250 and there are no system issues or returned payments if the max isn't exceeded each month in each RS account. This month I have paid the maximum allowed over 3 RS £750 with no monies returned.

trickydicky14

Dizzycap said:

Bridlington1 said:

qbadger said:

So if you've already funded the 1st issue in full this month, you'll need to wait until 02 Jan before funding the 2nd issue?

I've fully funded the 1st issue and have just opened issue 2. I shall send £10 across to issue 2 tomorrow as an experiment so shall report back whether the £250 combined monthly deposit rule is actually enforced in practice.

I have 2 x Issue 1 which I credit the maximum of £250 in each RS each month and have done for the past 4 months. Interest for those 2 x Issue 1 RS has also been applied in December as per the T&C's.

I have now opened Issue 2 which I have credited £250 and there are no system issues or returned payments if the max isn't exceeded each month in each RS account. This month I have paid the maximum allowed over 3 RS £750 with no monies returned.

Well, that’s going to put the cat amongst the pigeons

flaneurs_lobster

trickydicky14 said:

Dizzycap said:

Bridlington1 said:

qbadger said:

So if you've already funded the 1st issue in full this month, you'll need to wait until 02 Jan before funding the 2nd issue?

I've fully funded the 1st issue and have just opened issue 2. I shall send £10 across to issue 2 tomorrow as an experiment so shall report back whether the £250 combined monthly deposit rule is actually enforced in practice.

I have 2 x Issue 1 which I credit the maximum of £250 in each RS each month and have done for the past 4 months. Interest for those 2 x Issue 1 RS has also been applied in December as per the T&C's.

I have now opened Issue 2 which I have credited £250 and there are no system issues or returned payments if the max isn't exceeded each month in each RS account. This month I have paid the maximum allowed over 3 RS £750 with no monies returned.

Well, that’s going to put the cat amongst the pigeons

What would worry me is @ForumUser7 's point above 

The thing I’m really curious about is if the systems enforce the whole deposit limit! I.e. if it will let you pay £250 in each regardless of terms, and doesn’t just void the interest at the end of the term.

  Would be rather hard to demand "Where's my interest?" when MHBS simply hand back your £3k after a year. Unless someone's going to ring them and ask........

Gers

West Brom RS has matured into an easy access saver, such an easy process too.  Interest on the £3k is £106.72.  I've immediately applied for a new RS (still at 6.00%) though it'll take 3 - 5 working days to open so no real chance of getting a deposit in before next year. This time I had to upload a new photo of my signature, not one taken from any existing document.