Regular Savings Accounts: The Best Currently Available List!

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.

Reg_Smeeton

Thanks for the responses, will take a chance for the price of a stamp and see how it goes. Will report back!

Wheres_My_Cashback

londoner62 said:

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.

The a/c matures 12 months after 1st deposit, not the date the application is processed.

The reason for that is to enable a full 12 months of saving, not a partial 12 months which would only be available to those a/c opened by post due their procedures, hence the official opening date is the 1st deposit date.

Enough said on the matter. Please do call them to confirm this.

IanManc

Wheres_My_Cashback said:

londoner62 said:

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.

The a/c matures 12 months after 1st deposit, not the date the application is processed.

The reason for that is to enable a full 12 months of saving, not a partial 12 months which would only be available to those a/c opened by post due their procedures, hence the official opening date is the 1st deposit date.

Enough said on the matter. Please do call them to confirm this.

The terms and conditions on the Monmouthshire website say:  "Your Christmas Saver Bond will mature on the first anniversary from the date of opening." They do not say that it matures 12 months after the first deposit.

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


@londoner62 has already posted the term from the website: "Interest is fixed for 1 year. The fixed term will start on the date the account is opened."

There doesn't seem to be any room for doubt or need to phone the Monmouthshire.. The terms are explicit and @londoner62 is correct.

Wheres_My_Cashback

IanManc said:

Wheres_My_Cashback said:

londoner62 said:

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.

The a/c matures 12 months after 1st deposit, not the date the application is processed.

The reason for that is to enable a full 12 months of saving, not a partial 12 months which would only be available to those a/c opened by post due their procedures, hence the official opening date is the 1st deposit date.

Enough said on the matter. Please do call them to confirm this.

The terms and conditions on the Monmouthshire website say:  "Your Christmas Saver Bond will mature on the first anniversary from the date of opening." They do not say that it matures 12 months after the first deposit.

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


@londoner62 has already posted the term from the website: "Interest is fixed for 1 year. The fixed term will start on the date the account is opened."

There doesn't seem to be any room for doubt or need to phone the Monmouthshire.. The terms are explicit and @londoner62 is correct.

Seldom are any terms explicit, hence there is regular discussion on pretty much most RS accounts T&Cs which are mentioned in this forum, as you well know.

IanManc

Wheres_My_Cashback said:

IanManc said:

Wheres_My_Cashback said:

londoner62 said:

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.

The a/c matures 12 months after 1st deposit, not the date the application is processed.

The reason for that is to enable a full 12 months of saving, not a partial 12 months which would only be available to those a/c opened by post due their procedures, hence the official opening date is the 1st deposit date.

Enough said on the matter. Please do call them to confirm this.

The terms and conditions on the Monmouthshire website say:  "Your Christmas Saver Bond will mature on the first anniversary from the date of opening." They do not say that it matures 12 months after the first deposit.

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


@londoner62 has already posted the term from the website: "Interest is fixed for 1 year. The fixed term will start on the date the account is opened."

There doesn't seem to be any room for doubt or need to phone the Monmouthshire.. The terms are explicit and @londoner62 is correct.

Seldom are any terms explicit, hence there is regular discussion on pretty much most RS accounts T&Cs which are mentioned in this forum, as you well know.

The terms of the Monmouthshire account are clear and explicit. It is hard to envisage how they could be made more plain and simple. They do not support your assertions about the account's terms, what @londoner62 has posted is correct, and he and I have both provided a link to the terms so you can see that for yourself. Everyone else is able to read them and see that for themselves too.