Regular Savings Accounts: The Best Currently Available List!

veryintrigued

Nick_C said:.

Principality's IT is archaic.  Any attempt to move money between accounts or close accounts is done by secure message, and needs to be received before 3:30pm.

Closure of account can be done by an option under Account Services (top left).

I requested this last night and the funds were in my external nominated account by 10:00hrs.

That's superb compared to the likes of some that take a week or more and issue a cheque.

Frogletina

Nick_C said:

liamcov said:

Principality - I've got 2 regular savers at 1.05%, can I close these and still get the interest?

I want to open the latest 3.25% account, can I transfer one of the above into this or could I only do this if I'm at maturity?

You certainly can, and should, close the old RS accounts paying peanuts.

Principality's IT is archaic.  Any attempt to move money between accounts or close accounts is done by secure message, and needs to be received before 3:30pm.

Based on my experience yesterday closing Issue 29, I would recommend

1) Open Issue 30
2) Fund it by Faster Payment once it is open
3) Put in your requests to close the old issues and transfer the money out. 

I had already closed issue 29 a few days ago. I cannot see why they do not allow you to apply when you still have log in details. However, when I tried as a new customer as required, the system did not like my post code - said it was invalid. I tried again today and finally got the system to accept my address and completed the order, Then it told me to log in, but I expect as it is a Friday night, it won't be there until Monday.

However, getting money out can be done the same day, so I do like that.

Stafford Railway Building Society on the other hand require you to fill a form in and send the passbook back - I won't be using them again.

happybagger

Darlington BS
Closed Issue High Days saver increased to 2.45% from today, 14 October.

Source

Nick_C

veryintrigued said:

Nick_C said:.

Principality's IT is archaic.  Any attempt to move money between accounts or close accounts is done by secure message, and needs to be received before 3:30pm.

Closure of account can be done by an option under Account Services (top left).

I requested this last night and the funds were in my external nominated account by 10:00hrs.

That's superb compared to the likes of some that take a week or more and issue a cheque.

As I said, the instructions are  carried out via a secure message to a member of staff. 

The option you refer to simply sends a secure message requesting that the account is closed.

Users/customers cannot give a direct instruction to the IT system, which we have come to expect in the 21st Century.

In England anyway.

Most of the financial institutions I deal with allow me to initiate closure directly and the funds are usually in my external account within seconds without any further human intervention. 

I suspect someone in the back office at Principality worked out the closing interest using an abacus. 

veryintrigued

Nick_C said:

veryintrigued said:

Nick_C said:.

Principality's IT is archaic.  Any attempt to move money between accounts or close accounts is done by secure message, and needs to be received before 3:30pm.

Closure of account can be done by an option under Account Services (top left).

I requested this last night and the funds were in my external nominated account by 10:00hrs.

That's superb compared to the likes of some that take a week or more and issue a cheque.

As I said, the instructions are  carried out via a secure message to a member of staff. 

The option you refer to simply sends a secure message requesting that the account is closed.

Users/customers cannot give a direct instruction to the IT system, which we have come to expect in the 21st Century.

In England anyway.

Most of the financial institutions I deal with allow me to initiate closure directly and the funds are usually in my external account within seconds without any further human intervention. 

I suspect someone in the back office at Principality worked out the closing interest using an abacus. 

So you admit the 15:30hrs was nonsense.

And that customers can trigger the process by a non secure message process.

And that lots of institutions loads of us on here have less efficient systems.

That's good we agree.

Back to new and improved RS anyone?

Nick_C

veryintrigued said:

Nick_C said:

veryintrigued said:

Nick_C said:.

Principality's IT is archaic.  Any attempt to move money between accounts or close accounts is done by secure message, and needs to be received before 3:30pm.

Closure of account can be done by an option under Account Services (top left).

I requested this last night and the funds were in my external nominated account by 10:00hrs.

That's superb compared to the likes of some that take a week or more and issue a cheque.

As I said, the instructions are  carried out via a secure message to a member of staff. 

The option you refer to simply sends a secure message requesting that the account is closed.

Users/customers cannot give a direct instruction to the IT system, which we have come to expect in the 21st Century.

In England anyway.

Most of the financial institutions I deal with allow me to initiate closure directly and the funds are usually in my external account within seconds without any further human intervention. 

I suspect someone in the back office at Principality worked out the closing interest using an abacus. 

So you admit the 15:30hrs was nonsense.

And that customers can trigger the process by a non secure message process.

And that lots of institutions loads of us on here have less efficient systems.

That's good we agree.

Back to new and improved RS anyone?

No. You are talking rubbish. Payments and account closures are initiated by secure message, as I have stated. 

Payments to external accounts initiated after 15:30 are actioned the next day.

We do not agree. Nor will we I suspect.

I'm not sure why you feel the need to contradict my accurate truthful posts, made in response to sometime seeking advice. 

But some people are like that I guess. 

Descrabled

Principality

My 6D (old money): Opened RS 30 and closed RS 28 lunch time.

Mid afternoon money from RS 28 in current account and RS 30 showing funded.

I like Principality as they keep on offering regular savers that have good interest rates. They allow these fixed rate accounts to be closed early; a real bonus whilst the market is moving so rapidly.

liamcov

Section62 said:

liamcov said:

Principality - I've got 2 regular savers at 1.05%, can I close these and still get the interest?

Principality

If one of them is the Maturity Christmas Regular Saver Bond then bear in mind that last year the eligibility for this product depended on having a maturing 1 Year RS Bond or holding the 2021 Christmas Regular Saver Bond.

I've decided to hold on to my Maturity Christmas Regular Saver Bond until maturity - just in case Principality do the same thing again and launch a maturity product with restricted eligibility.  I figure since the financial loss is small* as the account balance is low (significantly less than the £1500 maximum) and maturity is only about 3 weeks away then it is worth the gamble.

(*less than a quid if I'd moved the balance to my Santander eSaver today)

That was my next question actually, thanks for the info everyone.

gt94sss2

Section62 said:

Deleted_User said:

Has anyone received maturity papers for Monmouthshire BS Christmas Saver Issue 4? It matures for everyone on 31 October. It may be that Monmouthshire are pondering their options given the current turmoil on rates, hence they are a bit late. Im just concerned my letter has gone missing or something.

From hazy recollection I think Monmouthshire do their maturities by snail mail.

Yes, I got mine in the post yesterday.

The options are -

1) Transfer funds to another Monmouthshire account

2) Transfer funds to an external account.

The default if no option is selected is the account will mature into an "Easy Saver - Issue 1" paying 0.85%.

No mention of a new Christmas Saver or any other products.

Edit: Letter just dated "September 2022"

I got my maturity letter today. This is my first/only account with Monmouthshire and I would welcome views on whether there might be any benefit in retaining an account of some sort.

Do they have sent history in offering products for existing members only/loyalty etc.?

chris_the_bee

gt94sss2 said:

Section62 said:

Deleted_User said:

Has anyone received maturity papers for Monmouthshire BS Christmas Saver Issue 4? It matures for everyone on 31 October. It may be that Monmouthshire are pondering their options given the current turmoil on rates, hence they are a bit late. Im just concerned my letter has gone missing or something.

From hazy recollection I think Monmouthshire do their maturities by snail mail.

Yes, I got mine in the post yesterday.

The options are -

1) Transfer funds to another Monmouthshire account

2) Transfer funds to an external account.

The default if no option is selected is the account will mature into an "Easy Saver - Issue 1" paying 0.85%.

No mention of a new Christmas Saver or any other products.

Edit: Letter just dated "September 2022"

I got my maturity letter today. This is my first/only account with Monmouthshire and I would welcome views on whether there might be any benefit in retaining an account of some sort.

Do they have sent history in offering products for existing members only/loyalty etc.?

In the past two years they have included the option to invest part of the proceeds in the following years X-mas bond. As they have not done so this year, I guess there will be no 2023 X-mas Saver.
Retaining an online ID by having £1 in an easy access account might help in the future, but their current offerings are not very attractive. Their regular saver is only 2.25% and is fixed for a year with no withdrawals or closure allowed.