Regular Savings Accounts: The Best Currently Available List!

SFindlay

Foxhouse said:

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.

Once they recieve your signature form they will officially open your account and send passbook which provides their sort code and account number (for the majority of people who don't get it from forums like this) and telling you to use your account number as reference. 

SFindlay

TheWoodler said:

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. 

And I  (like most reasonable people) would rather have accounts paying 7-8% over one paying 4-5% but giving me a wonderful IT experience.!! Being able to instantly see your account online is of absolutely ZERO advantage to anyone, it doesn't earn you any extra interest.  

Why would anyone prefer societies to only offer branch based accounts to locals rather than wait a few days for a competitive account to be opened? Many accounts can only be opened by post yet there aren't people on here moaning about the length of time they take to open so would everyone prefer Monmouthshire didn't have any online application and do it all through postal or branch applications? All these complaints sound like sour grapes by those who are still waiting but let's be serious we are talking pennies of a difference!!

But all that aside if people stopped whinging for just a minute (though that seems to be the world we live in now) you might realise Monmouthshire are in the process of updating their IT system and are actively asking for people's experience and suggestions to improve how they operate so instead of complaining on forums maybe engage with Monmouthshire using their feedback and surveys to improve things in future.

Once they've spent a whack of money improving their IT so you can see your account balance instantly you can then come on and moan about their interest rates being poor as theyve spent all their money giving you an IT system that you don't consider woeful!!

janusdesign

SFindlay said:

Foxhouse said:

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.

Once they recieve your signature form they will officially open your account and send passbook which provides their sort code and account number (for the majority of people who don't get it from forums like this) and telling you to use your account number as reference. 

surely if someone receives a letter from them with an account number on it, the account has already officially been opened?

georged123

SFindlay said:

TheWoodler said:

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. 

And I  (like most reasonable people) would rather have accounts paying 7-8% over one paying 4-5% but giving me a wonderful IT experience.!! Being able to instantly see your account online is of absolutely ZERO advantage to anyone, it doesn't earn you any extra interest.  

Why would anyone prefer societies to only offer branch based accounts to locals rather than wait a few days for a competitive account to be opened? Many accounts can only be opened by post yet there aren't people on here moaning about the length of time they take to open so would everyone prefer Monmouthshire didn't have any online application and do it all through postal or branch applications? All these complaints sound like sour grapes by those who are still waiting but let's be serious we are talking pennies of a difference!!

But all that aside if people stopped whinging for just a minute (though that seems to be the world we live in now) you might realise Monmouthshire are in the process of updating their IT system and are actively asking for people's experience and suggestions to improve how they operate so instead of complaining on forums maybe engage with Monmouthshire using their feedback and surveys to improve things in future.

Once they've spent a whack of money improving their IT so you can see your account balance instantly you can then come on and moan about their interest rates being poor as theyve spent all their money giving you an IT system that you don't consider woeful!!

I don't think it's much to ask for a bank or building society that handles millions of pounds of people's money in 2023 to have a decent standard of IT system, competent processes and clear communication with their customers. 

There's far too many posters on these threads that are over defensive of certain banks/building societies when people rightly criticise shoddy service and incompetence.

I'm not directly aiming this at you SFindlay but calling valid criticism/opinion as "whinging" and "sour grapes" is not needed.

masonic

janusdesign said:

SFindlay said:

Foxhouse said:

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.

Once they recieve your signature form they will officially open your account and send passbook which provides their sort code and account number (for the majority of people who don't get it from forums like this) and telling you to use your account number as reference. 

surely if someone receives a letter from them with an account number on it, the account has already officially been opened?

An account number may be provisionally assigned subject to further conditions/checks.

kaMelo

janusdesign said:

SFindlay said:

Foxhouse said:

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.

Once they recieve your signature form they will officially open your account and send passbook which provides their sort code and account number (for the majority of people who don't get it from forums like this) and telling you to use your account number as reference. 

surely if someone receives a letter from them with an account number on it, the account has already officially been opened?

When I've received a welcome letter with the account number I've deposited money via faster payment prior to sending the signature request back and had no problems.

SFindlay

georged123 said:

SFindlay said:

TheWoodler said:

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. 

And I  (like most reasonable people) would rather have accounts paying 7-8% over one paying 4-5% but giving me a wonderful IT experience.!! Being able to instantly see your account online is of absolutely ZERO advantage to anyone, it doesn't earn you any extra interest.  

Why would anyone prefer societies to only offer branch based accounts to locals rather than wait a few days for a competitive account to be opened? Many accounts can only be opened by post yet there aren't people on here moaning about the length of time they take to open so would everyone prefer Monmouthshire didn't have any online application and do it all through postal or branch applications? All these complaints sound like sour grapes by those who are still waiting but let's be serious we are talking pennies of a difference!!

But all that aside if people stopped whinging for just a minute (though that seems to be the world we live in now) you might realise Monmouthshire are in the process of updating their IT system and are actively asking for people's experience and suggestions to improve how they operate so instead of complaining on forums maybe engage with Monmouthshire using their feedback and surveys to improve things in future.

Once they've spent a whack of money improving their IT so you can see your account balance instantly you can then come on and moan about their interest rates being poor as theyve spent all their money giving you an IT system that you don't consider woeful!!

I don't think it's much to ask for a bank or building society that handles millions of pounds of people's money in 2023 to have a decent standard of IT system, competent processes and clear communication with their customers. 

There's far too many posters on these threads that are over defensive of certain banks/building societies when people rightly criticise shoddy service and incompetence.

I'm not directly aiming this at you SFindlay but calling valid criticism/opinion as "whinging" and "sour grapes" is not needed.

A valid criticism is when an institution does not fulfil its statutory obligation or processes outlined in their documentation neither of which have the Monmouthshire failed on. Don't really see how you can claim shoddy service or incompetence considering the main issues people are complaining about.

At no time did Monmouthshire state accounts would be opened instantly or indeed even give an indication how long applications would take to process, people aren't depositing any money so how long it takes to open is irrelevant!! 

At no time did Monmouthshire say that they would email acknowledgement to people that applications were recieved and being processed, it did however say after application was completed that once processed they would be in touch. Numerous people have posted that they recieved email confirmation once their application had been processed so they have fulfilled their commitment. 

Monmouthshire policy is they want a completed signatory form before account will be fully opened and operational, that's their policy and if people don't like it don't apply. Those of us who have had numerous Monmouthshire accounts have no doubt sent back numerous signature forms but who cares, it takes 2 seconds to sign and then shove it in a prepaid envelope to put in a post box, hardly difficult to do.

Quite frankly if people don't like how an institution chooses to operate an account then simply don't apply but people seeing a headline rate but failing to read T&C or documentation surrounding account opening and operating procedures then moaning about them are simply whinging and have nobody to blame but themselves!!

SFindlay

janusdesign said:

SFindlay said:

Foxhouse said:

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.

Once they recieve your signature form they will officially open your account and send passbook which provides their sort code and account number (for the majority of people who don't get it from forums like this) and telling you to use your account number as reference. 

surely if someone receives a letter from them with an account number on it, the account has already officially been opened?

No, institutions will allocate an account / reference number for a completed application until all identity / moneylaundering etc checks are completed. The account will exist but until all checks/ requirements have been completed it won't officially be fully open and operational and many institutions will return money if all their opening requirements haven't been completed. 

janusdesign

SFindlay said:

janusdesign said:

SFindlay said:

Foxhouse said:

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.

Once they recieve your signature form they will officially open your account and send passbook which provides their sort code and account number (for the majority of people who don't get it from forums like this) and telling you to use your account number as reference. 

surely if someone receives a letter from them with an account number on it, the account has already officially been opened?

No, institutions will allocate an account / reference number for a completed application until all identity / moneylaundering etc checks are completed. The account will exist but until all checks/ requirements have been completed it won't officially be fully open and operational and many institutions will return money if all their opening requirements haven't been completed. 

so if I delay returning the signature form so that it arrives next Friday or later, the account won't "officially" be opened until September - giving me the rest of that month to deposit the initial £300 ?

georged123

SFindlay said:

georged123 said:

SFindlay said:

TheWoodler said:

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. 

And I  (like most reasonable people) would rather have accounts paying 7-8% over one paying 4-5% but giving me a wonderful IT experience.!! Being able to instantly see your account online is of absolutely ZERO advantage to anyone, it doesn't earn you any extra interest.  

Why would anyone prefer societies to only offer branch based accounts to locals rather than wait a few days for a competitive account to be opened? Many accounts can only be opened by post yet there aren't people on here moaning about the length of time they take to open so would everyone prefer Monmouthshire didn't have any online application and do it all through postal or branch applications? All these complaints sound like sour grapes by those who are still waiting but let's be serious we are talking pennies of a difference!!

But all that aside if people stopped whinging for just a minute (though that seems to be the world we live in now) you might realise Monmouthshire are in the process of updating their IT system and are actively asking for people's experience and suggestions to improve how they operate so instead of complaining on forums maybe engage with Monmouthshire using their feedback and surveys to improve things in future.

Once they've spent a whack of money improving their IT so you can see your account balance instantly you can then come on and moan about their interest rates being poor as theyve spent all their money giving you an IT system that you don't consider woeful!!

I don't think it's much to ask for a bank or building society that handles millions of pounds of people's money in 2023 to have a decent standard of IT system, competent processes and clear communication with their customers. 

There's far too many posters on these threads that are over defensive of certain banks/building societies when people rightly criticise shoddy service and incompetence.

I'm not directly aiming this at you SFindlay but calling valid criticism/opinion as "whinging" and "sour grapes" is not needed.

A valid criticism is when an institution does not fulfil its statutory obligation or processes outlined in their documentation neither of which have the Monmouthshire failed on. Don't really see how you can claim shoddy service or incompetence considering the main issues people are complaining about.

At no time did Monmouthshire state accounts would be opened instantly or indeed even give an indication how long applications would take to process, people aren't depositing any money so how long it takes to open is irrelevant!! 

At no time did Monmouthshire say that they would email acknowledgement to people that applications were recieved and being processed, it did however say after application was completed that once processed they would be in touch. Numerous people have posted that they recieved email confirmation once their application had been processed so they have fulfilled their commitment. 

Monmouthshire policy is they want a completed signatory form before account will be fully opened and operational, that's their policy and if people don't like it don't apply. Those of us who have had numerous Monmouthshire accounts have no doubt sent back numerous signature forms but who cares, it takes 2 seconds to sign and then shove it in a prepaid envelope to put in a post box, hardly difficult to do.

Quite frankly if people don't like how an institution chooses to operate an account then simply don't apply but people seeing a headline rate but failing to read T&C or documentation surrounding account opening and operating procedures then moaning about them are simply whinging and have nobody to blame but themselves!!

There's been many posters on this thread who have said about the website crashing, customer service being poor, receiving contradictory information and not being sent the correct documents in order to complete the process. None of those issues were down to customers failing to read the T+Cs correctly and were solely down to Monmouthshire's incompetence.