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Regular Savings Accounts: The Best Currently Available List!
Comments
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liamcov said:Not the right word but I'm 'glad' it isn't just me dealing with Monmouthshire delays.I choose the rooms that I live in with care,
The windows are small and the walls almost bare,
There's only one bed and there's only one prayer;
I listen all night for your step on the stair.1 -
AmityNeon said:
Have you not encountered such clauses before in general banking terms and conditions?0 -
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Velvet_Monkey said:AmityNeon said:
Have you not encountered such clauses before in general banking terms and conditions?2 -
Velvet_Monkey said:
This will never come to pass as FD are quite clear this is a fixed rate account - "once your account is opened the rate will remain fixed". If it ever did happen then there would probably be bigger issues within the UK banking industry to be worried about than a few % of interest earnings!
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Velvet_Monkey said:And I have also lost not insignificant sums due to the financial institutions concerned then 'interpreting' them in what I would deem to be an 'unfair' manner.Velvet_Monkey said:Anyway, I've weighed up what I think the risks/benefits are and decided to invest - I do hope I don't regret it!1
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dcs34 said:Velvet_Monkey said:dcs34 said:
This means you would earn the expected rate of interest up to that point of closure.
This will never come to pass as FD are quite clear this is a fixed rate account - "once your account is opened the rate will remain fixed". If it ever did happen then there would probably be bigger issues within the UK banking industry to be worried about than a few % of interest earnings!
I doubt any call handler is sufficiently versed in financial legalities to provide a definitive answer, but apparently it has come to pass in some form, hence the caution exercised by Velvet_Monkey, much like how most of us would act if we felt indignant (irrespective of justification). Regardless, such clauses are standard in the general terms and conditions of (probably) every regulated institution, and if issues have arisen, they obviously weren't big enough to warrant any negative publicity to effect industry changes.
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trickydicky14 said:liamcov said:Not the right word but I'm 'glad' it isn't just me dealing with Monmouthshire delays.1
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Band7 said:
It's important to distinguish between savings and investments, as they have entirely different T&Cs, and entirely different risk levels. Regular Savers are, as the name implies, savings accounts, not investments. Your capital in a savings account is secure, and the interest rate is pre-determined on fixed rate accounts. Though very occasionally a savings provider has offered higher than originally offered rates for fixed rate accounts, never lower. The FD RS is a good example for this - every existing account holder will automatically benefit from the 7% rate from December 1st.0 -
I applied for the Monmouthshire Christmas Saver 5, sending the application form with a cheque by post on 25th November. The cheque was cashed on Friday 9th December, and I got the passbook and welcome letter on Saturday 10th December.I have always been very happy with the service I receive from Monmouthshire B.S.0
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