Regular Savings Accounts: The Best Currently Available List!

surreysaver

flaneurs_lobster said:

fabsaver said:

The one for the Regular Saver encloses a signature form and a prepaid envelope but no passbook.

The one for the Exclusive Saver encloses a passbook but no signature form or envelope. The letter still asks me to sign and return the enclosed 'Online Signatory Form', even though it is not enclosed.

Is the signature form of a form(!) that could be copied and annotated to make it applicable to the second account?

Not without the account number 

subjecttocontract

As a member of the MBS I applaud their cost saving actions in not providing postage paid return envelopes. The more they save the more chance of better savings offers.

simonsmithsays

subjecttocontract said:

As a member of the MBS I applaud their cost saving actions in not providing postage paid return envelopes. The more they save the more chance of better savings offers.

Mine was prepaid

It seems the same as last time in that one branch are processing one of the accounts and another the other - and both using different procedures 

subjecttocontract

Such is the attraction of an 8% account (or even a 7% account), that no financial institution should need to provided prepaid anything.

TheWoodler

As PP have said MBS have woeful IT.

With the poor IT they are reliant on branch processing of application influxes which they don’t have the resources to deal with. I don’t know why they keep offering these products because these influxes lead to process errors.

I’d rather have efficient resources than cups of coffee with nice staff front of house. Their CS was out of their depth with an error *of their own making* with a previous RS issue in my case which they were ill-equipped to deal with. In my view, they should only operate locally with branch-based products confined to their heartland. Smaller societies seem to me to have made a more successful transition and offer better IT and CS than MBS have done. 

pookey

flaneurs_lobster said:

pookey said:

If I set up a first direct monthly saver, can I deposit £300 today and £300 on 1st September please m

No (according to the T&C). You open an account and fund it from your 1st account. Thereafter on the monthly anniversary of you opening the account (or the next working day) it "must" be funded by SO from the 1st account.

Thank you, I didn't realise that

where_are_we

TheWoodler posts "In my view, they should only operate locally with branch-based products confined to their heartland"

While I concur with the rest of your post, the RS "regulars" are prepared to absorb any issues in return for a higher interest rate. They would not agree with you on branch based only products. I have benefited over many years from online and postal RS`s.

Foxhouse

Now I'm not the brightest light in the sky, so maybe it's me, but the welcome letter from MBS seems to contradict itself.

I have the account number, and thanks to others I have MBS' bank details. I've signed the signatory letter and sent it back. I've registered for online banking and been given a reference number.

All good so far.

However, the letter states that 'you will not be able to transact on your account until were are in receipt' (of the signatory form). That's clear enough.

The next bit confuses me. It says 'once initial funds have been deposited into your new account, you can access your account online'. 

I've not yet paid any money in, as there has been no option to do so. Is it just a case of using the account number and MBS bank details and sending monies from my nominated bank account?

(As I said, I'm not the brightest).

Thanks

soulsaver

You could try it using their sort code and ac number40 05 30 14576608* and your 10 digit ac no in the ref.
But they may return your deposit if they haven't received the signature doc.

It's not you, they aren't clear about the process - they don't say how you'll know they've received the doc. 

As on your letter, and/or can be confirmed: FAQs | Monmouthshire Building Society | Monmouthshire Building Society (monbs.com) 'How can I pay into my savings...'

Foxhouse

soulsaver said:

You could try it using their sort code and ac number40 05 30 14576608 and your 10 digit ac no in the ref.
But they may return your deposit if they haven't received the signature doc. 

Thanks - I'll wait a couple of days then.