Regular Savings Accounts: The Best Currently Available List!

surreysaver

Nick_C said:

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. 

If you have an account with an overdraft you don't. Just pay the money in when the cheque's cashed

AndyTh_2

SavingsBoo said:

AndyTh_2 said:

SavingsBoo said:

AndyTh_2 said:

YBS Loyalty Regular saver was sporadic but there are loyalty products I've gotten (or missed) from them over the years, so I count it as one to keep £1+ in.

Also I count Skipton as one too.

Thank you! My YBS is an ISA that I was going to transfer so before I do that I’ll open up an easy access account, I think it’s a £1 minimum deposit.

Very annoyingly I did open a Skipton account last year but didn’t fund it 😆

It's best to keep one account open for the long term though, as their online 12 month check for loyalty products doesn't usually check closed accounts to see the length of time you've had accounts with them. It doesn't stop you from applying through their mail/branch accounts though, as that way they check manually including closed accounts with overlap.

So the easy access account you open you should keep open indefinitely, so that at least 12 months from now the online apply for loyalty products will work.

Or alternatively if previous tax years ISA subscriptions, keep back £1 in the ISA account rather than doing the full amount in the ISA transfer, and the 12 months would be from when that account was first funded. Sadly can't do that if it was only current tax year subscriptions, as they have to be transferred in full.

Oh how annoying! I’ve already done a transfer of last year’s subscription and so it’s either transfer in full or keep as is 🤔 

well there's one trick you could do if you ISA transfer some of the previous tax year's subscriptions back, then you can transfer the current tax year's subscriptions out, so not to close the account. I've never done a ISA transfer of £1 though before

kaMelo

Section62 said:

lcooper said:

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.

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.

Unless they force me to send a cheque, I'll send it by FP

You won't be able to send it by FP until you know your account number.  You find out your account number when you receive your passbook in the post, and the passbook won't go in the post until Monmouth have recieved your completed form(s) and processed them.

6 working days is cutting it fine to get your passbook especially when Monmouth are likely to be inundated with applications.  Their process also involves farming applications out to local branches to process, which again can add to delays.

Based on past experience people who choose to send a cheque with their application form stand a better chance of getting the deposit added to their account before the end of the month.  Nobody is forced to do so though.

That's not quite accurate. There is no need to wait for a passbook to be issued as the original welcome letter contains all the details needed to deposit money via faster payment. The passbook is only required for withdrawals but once you've registered a current account and had that verified you can withdraw via faster payment with no need of the passbook.

Section62

kaMelo said:

Section62 said:

lcooper said:

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.

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.

Unless they force me to send a cheque, I'll send it by FP

You won't be able to send it by FP until you know your account number.  You find out your account number when you receive your passbook in the post, and the passbook won't go in the post until Monmouth have recieved your completed form(s) and processed them.

6 working days is cutting it fine to get your passbook especially when Monmouth are likely to be inundated with applications.  Their process also involves farming applications out to local branches to process, which again can add to delays.

Based on past experience people who choose to send a cheque with their application form stand a better chance of getting the deposit added to their account before the end of the month.  Nobody is forced to do so though.

That's not quite accurate. There is no need to wait for a passbook to be issued as the original welcome letter contains all the details needed to deposit money via faster payment. The passbook is only required for withdrawals but once you've registered a current account and had that verified you can withdraw via faster payment with no need of the passbook.

Have you ever had a welcome letter from MonBS which didn't come in the same envelope as the passbook?

kaMelo

Section62 said:

kaMelo said:

Section62 said:

lcooper said:

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.

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.

Unless they force me to send a cheque, I'll send it by FP

You won't be able to send it by FP until you know your account number.  You find out your account number when you receive your passbook in the post, and the passbook won't go in the post until Monmouth have recieved your completed form(s) and processed them.

6 working days is cutting it fine to get your passbook especially when Monmouth are likely to be inundated with applications.  Their process also involves farming applications out to local branches to process, which again can add to delays.

Based on past experience people who choose to send a cheque with their application form stand a better chance of getting the deposit added to their account before the end of the month.  Nobody is forced to do so though.

That's not quite accurate. There is no need to wait for a passbook to be issued as the original welcome letter contains all the details needed to deposit money via faster payment. The passbook is only required for withdrawals but once you've registered a current account and had that verified you can withdraw via faster payment with no need of the passbook.

Have you ever had a welcome letter from MonBS which didn't come in the same envelope as the passbook?

My first account with them didn't include a passbook with the welcome letter, the passbook was delivered separately a week or two later after I'd returned a signature.. Every account I've subsequently opened has included the passbook with the welcome letter, weirdly they still ask for a new signature for every account opened.

Anyway, my point was after opening an account online, which both of these regular savers allow, the very first communication received from MonBS will be a welcome letter which contains all the details needed to make an electronic payment.
If however MonBS restrict how you can open an account, such as branch or post only, then sending a cheque in the post with the application form is a decent option.

Growingold

Looks like the Monmouthshire Regular Saver at 7% NLA   Only the Exclusive Regular Saver at 8% showing on  their website now.

Bridlington1

Growingold said:

Looks like the Monmouthshire Regular Saver at 7% NLA   Only the Exclusive Regular Saver at 8% showing on  their website now.

It's no longer showing on moneyfacts so it appears to have become another blink and you'll miss it type of savings account.

The product page is still on their website though and the application form appears to be working for now so for those who didn't apply yesterday it may still be possible to get one open if you're quick:
https://www.monbs.com/savings/regular-saver/
https://www.monbs.com/savings/apply-online-regular-saver/

EDIT: For future reference I've now also archived the product page along with the account specific Ts&Cs on the wayback machine:
https://web.archive.org/web/20230824044431/https://www.monbs.com/savings/regular-saver/

EDIT AGAIN: Links appear to have been removed.

Growingold

Bridlington1 said:

Growingold said:

Looks like the Monmouthshire Regular Saver at 7% NLA   Only the Exclusive Regular Saver at 8% showing on  their website now.

It's no longer showing on moneyfacts though so it appears to have become another blink and you'll miss it type of savings account.

The product page is still on their website though and the application form appears to be working for now so for those who didn't apply yesterday it may still be possible to get open one if you're quick:
https://www.monbs.com/savings/regular-saver/
https://www.monbs.com/savings/apply-online-regular-saver/

Thank you for the link it worked.  Funny because couldn't see it on their website only the Members one.

Opened the Members one yesterday but not sure if I would get it as only transactions on my accounts during last 24 months would be interest and don't know how they define transaction.

Thanks again

Section62

kaMelo said:

Section62 said:

kaMelo said:

Section62 said:

lcooper said:

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.

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.

Unless they force me to send a cheque, I'll send it by FP

You won't be able to send it by FP until you know your account number.  You find out your account number when you receive your passbook in the post, and the passbook won't go in the post until Monmouth have recieved your completed form(s) and processed them.

6 working days is cutting it fine to get your passbook especially when Monmouth are likely to be inundated with applications.  Their process also involves farming applications out to local branches to process, which again can add to delays.

Based on past experience people who choose to send a cheque with their application form stand a better chance of getting the deposit added to their account before the end of the month.  Nobody is forced to do so though.

That's not quite accurate. There is no need to wait for a passbook to be issued as the original welcome letter contains all the details needed to deposit money via faster payment. The passbook is only required for withdrawals but once you've registered a current account and had that verified you can withdraw via faster payment with no need of the passbook.

Have you ever had a welcome letter from MonBS which didn't come in the same envelope as the passbook?

My first account with them didn't include a passbook with the welcome letter, the passbook was delivered separately a week or two later after I'd returned a signature.. Every account I've subsequently opened has included the passbook with the welcome letter, weirdly they still ask for a new signature for every account opened.

Anyway, my point was after opening an account online, which both of these regular savers allow, the very first communication received from MonBS will be a welcome letter which contains all the details needed to make an electronic payment.
If however MonBS restrict how you can open an account, such as branch or post only, then sending a cheque in the post with the application form is a decent option.

Maybe its just me then.  Each time I've opened an account with them the very first communication they send is the signatory form, which contains no account details.  Only after this form is completed and returned have they sent the confirmation/welcome letter and passbook, which is where the account details needed for FP deposits are given.  No signature form returned = No account.

By returning the signatory form with a cheque included I've always had a passbook sent back to me with the first deposit included.

This is consistent with the advice lcooper got on the phone - the paying in details will be in the confirmation/welcome letter, but whether that letter arrives before 31/08 depends on the process MonBS follow and how fast Royal Mail are.

We'll find out in the next few days.

arsenalboy

I applied for both MBS accounts yesterday. Received an automated email this morning at 0832 to say an account has been added online and to log on to view.

When I logged in there was no messages or notifications. They had accessed my accounts at 0704 this morning it stated at top. It would only let me add account if I knew account number, so will have to wait for the letter to come eventually. Have not had the email for the second account yet.