Regular Savings Accounts: The Best Currently Available List!

BestSeagull

dlevene said:

I'm attempting to get on board the Monmouthshire bandwagon and came across a bit of info that may be of interest...

So I saw the messages on this thread yesterday, and thought I'd open an easy access account straight away in case in meant I was eligible for the 8% regular saver. The application for the EA went fine, though didn't get anything by email etc.

I just gave them a call to a) check the EA app went through and b) check if eligible for the 8% RS. Got through immediately, spoke to a very helpful agent. She confirmed that a) yes, but that b) to be eligible for the 8% RS, a customer needed to have a funded account prior to today. So... no. A shame but not unreasonable to be honest.

I've applied for the 7% RS, and might give the 8% a go anyway!

It's in the T&C.

To be a qualifying member you must :

• Be an existing savings member (sole or joint) or mortgage customer.
• Your savings account must have money in it.
• Your account needs to have transactions within the last 24 months. 

BestSeagull

subjecttocontract said:

MBS 8%.....yes I've applied but can't get as excited as others here about an account that's gonna give me £154 in interest at the end of 12 months. Given all the extra fun, delays, glitches, snail mail and web site woes it's only £20 quid more than FD !

I have this problem with regular savers in general, and those accounts which limit the amount you can deposit, like the edge saver. You're really not seeing the big chunks of interest in the same way you do when you bung £85k somewhere and get a nice return every month.
It's hard to be bothered sometimes. But I know it makes sense and they do all add up so I'm sure I'll keep opening the decent ones when they happen to pop up.

drphila

subjecttocontract said:

MBS 8%.....yes I've applied but can't get as excited as others here about an account that's gonna give me £154 in interest at the end of 12 months. Given all the extra fun, delays, glitches, snail mail and web .site woes it's only £20 quid more than FD !

I don't have an FD RS but if I did, I'd be maxed out on that, as I am with all my 5%+ RSs.

So for me personally the comparison is with my IA account paying 5.25% (from next week). And again for me personally, an extra 2.25% on £600 is not insignificant

surreysaver

BestSeagull said:

subjecttocontract said:

MBS 8%.....yes I've applied but can't get as excited as others here about an account that's gonna give me £154 in interest at the end of 12 months. Given all the extra fun, delays, glitches, snail mail and web site woes it's only £20 quid more than FD !

I have this problem with regular savers in general, and those accounts which limit the amount you can deposit, like the edge saver. You're really not seeing the big chunks of interest in the same way you do when you bung £85k somewhere and get a nice return every month.
It's hard to be bothered sometimes. But I know it makes sense and they do all add up so I'm sure I'll keep opening the decent ones when they happen to pop up.

You say that, but if you've got a load of different regular savers and they're reasonably spaced out when they mature, then you do get that monthly return 
Having said that, I'm only bothering if they pay 6% or more (although the numbers paying that amount are increasing)

Section62

lcooper said:

Fingers xed we will be able to make the initial deposit before the end of the month

To stand the best chance, enclose a cheque with the paper forms they send you to be completed and signed - the process to find out your account number to be able to deposit electronically takes longer.

If you send them a cheque this gets applied to the account on (sometimes before) the date they process the returned forms and post out the passbook.

(Edit:  Some people are getting information emailed to them by MonBS which suggests their process has changed.  The above only applies if they send a paper signatory form without including your new account details and you haven't already got your new account number.)

Nick_C

Section62 said:

lcooper said:

Fingers xed we will be able to make the initial deposit before the end of the month

To stand the best chance, enclose a cheque with the paper forms they send you to be completed and signed - the process to find out your account number to be able to deposit electronically takes longer.

But if you send a cheque for £300, then you need to leave £300 in a current account to cover it, probably not earning interest. 

AndyTh_2

So when I've opened a Monmouthshire BS account, wont I now be an "existing member" and be able to get the 8% one?

I'm mostly sure that's not the case, but how hard can it be to define what an existing member is in at least the T&C?

10_66

AndyTh_2 said:

So when I've opened a Monmouthshire BS account, wont I now be an "existing member" and be able to get the 8% one?

I'm mostly sure that's not the case, but how hard can it be to define what an existing member is in at least the T&C?

 It states on the website that to be eligible your existing account "needs to have transactions within the last 24 months"

flaneurs_lobster

10_66 said:

AndyTh_2 said:

So when I've opened a Monmouthshire BS account, wont I now be an "existing member" and be able to get the 8% one?

I'm mostly sure that's not the case, but how hard can it be to define what an existing member is in at least the T&C?

 It states on the website that to be eligible your existing account "needs to have transactions within the last 24 months"

..and would the initial fund of the 7% account not be a transaction within the last 24 months?

AndyTh_2

10_66 said:

AndyTh_2 said:

So when I've opened a Monmouthshire BS account, wont I now be an "existing member" and be able to get the 8% one?

I'm mostly sure that's not the case, but how hard can it be to define what an existing member is in at least the T&C?

 It states on the website that to be eligible your existing account "needs to have transactions within the last 24 months"

That's easy enough though, make a transaction on your new account first.

Last 24 months before X date would have helped clear things up.