Regular Savings Accounts: The Best Currently Available List!

Band7

Reg_Smeeton said:

Re: Monmouth Xmas RS

Sorry if I’m being a bit thick, can you make an initial deposit into this account without sending a cheque?

I suppose you could send/risk a £10 note but that's the only alternative, short of applying in person with cash.

happybagger

In that case check their t&cs. Many won't accepot cash in the post!

Wheres_My_Cashback

Reg_Smeeton said:

Re: Monmouth Xmas RS

Sorry if I’m being a bit thick, can you make an initial deposit into this account without sending a cheque?

You don't need to make any initial deposit during application. You can wait til you've received account details and then do Faster Payment anytime within 30 days of receiving your passbook.
The official opening date of the a/c is when your fist deposit is received, not when your application is processed.

Bridlington1

Wheres_My_Cashback said:

Reg_Smeeton said:

Re: Monmouth Xmas RS

Sorry if I’m being a bit thick, can you make an initial deposit into this account without sending a cheque?

You don't need to make any initial deposit during application. You can wait til you've received account details and then do Faster Payment anytime within 30 days of receiving your passbook.
The official opening date of the a/c is when your fist deposit is received, not when your application is processed.

That is correct. I only used a cheque in my case because it lets you deposit £200 per calendar month, so if the first deposit is received before the end of the month (which will be a bit tight given the postal strikes), I'll be able to get an extra £200 sat at 5.5% for the duration of the bond.

londoner62

Wheres_My_Cashback said:

Reg_Smeeton said:

Re: Monmouth Xmas RS

Sorry if I’m being a bit thick, can you make an initial deposit into this account without sending a cheque?

You don't need to make any initial deposit during application. You can wait til you've received account details and then do Faster Payment anytime within 30 days of receiving your passbook.
The official opening date of the a/c is when your fist deposit is received, not when your application is processed.

Sorry to disagree but I interpret the account as being active when opened, not when the deposit is made

What is the interest rate?

5.50% AER/Gross – Annual Interest. Interest is fixed for 1 year. The fixed term will start on the date the account is opened. Interest is calculated on a daily basis on the balance in the account and paid on maturity.

myth123

Does anybody who has a Monmouthshire Building Society account know how withdrawals are managed once the RS has matured? Is it withdrawals by post or can it be done by bank transfer? Thanks

londoner62

myth123 said:

Does anybody who has a Monmouthshire Building Society account know how withdrawals are managed once the RS has matured? Is it withdrawals by post or can it be done by bank transfer? Thanks

Bank transfer was how I got mine.

Wheres_My_Cashback

londoner62 said:

Wheres_My_Cashback said:

Reg_Smeeton said:

Re: Monmouth Xmas RS

Sorry if I’m being a bit thick, can you make an initial deposit into this account without sending a cheque?

You don't need to make any initial deposit during application. You can wait til you've received account details and then do Faster Payment anytime within 30 days of receiving your passbook.
The official opening date of the a/c is when your fist deposit is received, not when your application is processed.

Sorry to disagree but I interpret the account as being active when opened, not when the deposit is made

What is the interest rate?

5.50% AER/Gross – Annual Interest. Interest is fixed for 1 year. The fixed term will start on the date the account is opened. Interest is calculated on a daily basis on the balance in the account and paid on maturity.

No need to apologise, you're free to disagree but you'd be wrong ! Interpretation is dangerous, fact is better ;-)

By all means call them in the morning to check. 

chris_the_bee

myth123 said:

Does anybody who has a Monmouthshire Building Society account know how withdrawals are managed once the RS has matured? Is it withdrawals by post or can it be done by bank transfer? Thanks

Bank transfer next business day

londoner62

Wheres_My_Cashback said:

londoner62 said:

Wheres_My_Cashback said:

Reg_Smeeton said:

Re: Monmouth Xmas RS

Sorry if I’m being a bit thick, can you make an initial deposit into this account without sending a cheque?

You don't need to make any initial deposit during application. You can wait til you've received account details and then do Faster Payment anytime within 30 days of receiving your passbook.
The official opening date of the a/c is when your fist deposit is received, not when your application is processed.

Sorry to disagree but I interpret the account as being active when opened, not when the deposit is made

What is the interest rate?

5.50% AER/Gross – Annual Interest. Interest is fixed for 1 year. The fixed term will start on the date the account is opened. Interest is calculated on a daily basis on the balance in the account and paid on maturity.

No need to apologise, you're free to disagree but you'd be wrong ! Interpretation is dangerous, fact is better ;-)

By all means call them in the morning to check. 

Wheres_My_Cashback said: The official opening date of the a/c is when your fist deposit is received, not when your application is processed

 https://www.monbs.com/products/christmas-saver-bond-issue-5/  reads

• Interest is fixed for 1 year. The fixed term will start on the date the account is opened.
• 
  

But ok. We shall have to disagree.