Regular Savings Accounts: The Best Currently Available List!

typistretired

An advisor on Monmouthshire BS has told me I can open another Reg Saver 5 as it is still open for applications now my other Reg 5 has matured 

Speculator

Deleted_User said:

Deleted_User said:

Speculator said:

Anyone still waiting for their Chorley maturity money?

Was sent on  31/10 by BACS apparently. 

I'm still waiting. It should normally be in by close of business today.

Think it's going to be Thursday unfortunately.

My previous Chorley maturity via BACS took 4 working days.

Chorley maturity funds have arrived in my account Tuesday evening.

Thanks. Arrived in my Santander too on 2/11 but dated 3/11.

schiff

PRINCIPALITY 24 - this is from the main pages at the beginning of the RS thread:

Penalty-free withdrawals: No. You can close the account early but all interest will then be paid at the bottom tier of the Instant Access account rate.

This is from the actual T&Cs:

• No, you cannot make any withdrawals from your bond before it matures.
• You can close your bond before it matures. Any interest you’ve earned will be added to the account balance and paid to you. 

A big difference. Which is correct and where did the off-putting (to me anyway) interest condition come from?

premierfella

Principality

There is a term to that effect in the general "Savings Terms and Conditions".

The account specific terms for issue 24 don't actually say you'll get the 1% fixed rate if you close early, just that you'll get any interest earned (which could be read as the 1% fixed or the interest as per the Savings Terms and Conditions).

So a question for those who've closed one early or for PBS direct! If I were placing bets I'd expect 1% applies as relying on that term in the the Savings Terms and Conditions without being clearer in the account-specific terms would be a bit sharp.

Saver53

Principality
The same issue applies in respect of the account terms for the Christmas 2021 Regular Saver Bond

schiff

PRINCIPALTY 24

I asked for an official definitive ruling. This is it:

"You would receive the interest from the Christmas regular saver 1%. The 'Savings Terms and Conditions ' is the general terms and conditions for all our accounts, this means not everything is relevant for specific accounts. Each account has a separate terms and conditions."

The word 'at' before 1% would have been a comfort but I think we're OK.

trickydicky14

Monmouthshire Christmas bond issue 4
Out of interest, if Monmouth drop the variable rate on this account, do you have a 'Get out of Jail card' allowing you to close account and retain interest up to closure?
Looked at T&C but could not see anything on this.

SFindlay

trickydicky14 said:

Monmouthshire Christmas bond issue 4
Out of interest, if Monmouth drop the variable rate on this account, do you have a 'Get out of Jail card' allowing you to close account and retain interest up to closure?
Looked at T&C but could not see anything on this.

Are you just reading the Summary Box - Key Product Information?? T&C clearly state the following

6.14 If we make a change to the interest rate we pay on your account which is to your disadvantage we will notify you by sending you a letter, email or other personal notice 30 days in advance of the change. At any time up to 30 days from the date of our notice you may close your account, or transfer your money to another Society account. You may do this without giving us any notice or incurring any charge or loss of interest that would otherwise apply under the Product Terms and Conditions. 6.15 If you do not notify us that you object to a change before the date on which it comes into effect, you will be deemed to have accepted it.

under section 6 Interest rates etc.

So in short you can close account and get full interest at 1.1% up to date of closure as long as you do so within 30 days of notification of rate change. 

Every_Penny_Counts

Every_Penny_Counts said:

JamesRobinson48 said:

Every_Penny_Counts said:

Thank you for the reply.  I may give it a go & see what happens. 😎

Darlington BS:  Would you be so kind as to let us know in due course?  It's potentially a great find as, if you're successful, you could have up to three of those RS accounts.  In theory it should work fine, and over the years I've done much the same with  some other building societies.

Re Darlington BS Special Occasion RS

Well it took some time, but I can confirm that once you open Darlington's Easy Access Saver paying a measley 0.05%, regardless of where you are in the country, you qualify for their Special Occasion RS paying 1.25%.

They did their best to put me off, I guess that they were suspicious as I lived at the other end of the country to them.  It took almost a month before the EA account was open, & I was able to access the account online.

I left it another couple of weeks, before applying for the Special Occasion RS, & this morning, less than a week after sending in my application I received the passbook.

As you can have 3 of these accounts, I shall now apply for 2 more....

EPC

Every_Penny_Counts

Darlington BS Sp O RS

There is nothing on their website, nor on the application form about ID.  However after sending in my application they returned everything with a leaflet laying out what they required.  I've attached a cropped copy of the relevant parts below, thankfully they only required scans/photocopies of the documents if applying by post.

Plus once the EA account was open to view it online & have the ability to transfer out to a nominated account, I had to supply a credit slip for my nominated account.

EPC