Regular Savings Accounts: The Best Currently Available List!

flaneurs_lobster

chris_the_bee said:

BestSeagull said:

If the account is opened on 25th August 2023 and a month is a calendar month, are we sure that the end date of the  "12 months" is not 31st of August 2024?

In common with all other BS, maturity is on the 12 month anniversary of opening the account i.e 25th August 2024.

This is the detail from my MonBS RS:

Account Information

Product Name:	CORONATION REGULAR SAVER
Date Opened	26/04/2023
Next Interest Due Date	31/03/2024

Is "Next Interest Due Date" the same as Maturity Date?

Wheres_My_Cashback

chris_the_bee said:

BestSeagull said:

chris_the_bee said:

OneUser1 said:

Wheres_My_Cashback said:

OneUser1 said:

The Monmouthshire terms say the maximum is £300 per month for twelve months. I read that as a £3600 maximum.

No, It doesn't say that, there is no maximum stipulated.

They have only given a suggested example of interest return upon 12 months deposits just as all accounts do. That doesn't mean a 13t payment isn't possible, however MON don't usually allow them and hasn't on my previous 13 accounts with them.

simonsmithsays said:

subjecttocontract said:

Why ? If the first payment gets made in September then the account will run for 12 months from September.

Personally I'd much rather be benefitting from these rates as early as possible.

Makes no difference as 1 year maturity date is set from 1st deposit date, not the date the a/c is 'opened' unless they are the same.

Actually yes they do say that.

First they say (Direct quote) “The maximum you can pay in is £300 each month” That’s from their paragraph in the summary box headed How do I open and manage my account?

They also say (Direct quote) “Interest is calculated daily and paid at the end of the 12 month term” That’s from the paragraph headed What is the interest rate?

So those two statements taken together are clearly and unambiguously saying £300 a month maximum for 12 months which is, as I said, £3600. 

If you can quote something different from the Monmouthshire terms and conditions please share.

Assume open account 25th August 2023.
Maturity of 12 months term is 25th August 2024
Pay in £300 on 25th August 2023 - (1 payment)
Then pay in £300 on 1st September 2023 to 1st August 2024 inclusive. - (12 payments)
A Monmouthshire month is a calendar month, unlike Coventry BS which is stipulated as a month from 1st payment (monthiversary)
So, 13 payments made during 12 months term, each being £300 per month..

If the account is opened on 25th August 2023 and a month is a calendar month, are we sure that the end date of the  "12 months" is not 31st of August 2024?

In common with all other BS, maturity is on the 12 month anniversary of opening the account i.e 25th August 2024.

Maturity can either be the date specified at opening, 12 months from the first deposit date, any other date depending on term length or indefinite
12 month terms are the most common, but there are many that are not common to other BS.
In the case of MON and as previously discussed it's 12 months from 1st deposit unless otherwise specified.

Catplan

Wheres_My_Cashback said:

chris_the_bee said:

BestSeagull said:

chris_the_bee said:

OneUser1 said:

Wheres_My_Cashback said:

OneUser1 said:

The Monmouthshire terms say the maximum is £300 per month for twelve months. I read that as a £3600 maximum.

No, It doesn't say that, there is no maximum stipulated.

They have only given a suggested example of interest return upon 12 months deposits just as all accounts do. That doesn't mean a 13t payment isn't possible, however MON don't usually allow them and hasn't on my previous 13 accounts with them.

simonsmithsays said:

subjecttocontract said:

Why ? If the first payment gets made in September then the account will run for 12 months from September.

Personally I'd much rather be benefitting from these rates as early as possible.

Makes no difference as 1 year maturity date is set from 1st deposit date, not the date the a/c is 'opened' unless they are the same.

Actually yes they do say that.

First they say (Direct quote) “The maximum you can pay in is £300 each month” That’s from their paragraph in the summary box headed How do I open and manage my account?

They also say (Direct quote) “Interest is calculated daily and paid at the end of the 12 month term” That’s from the paragraph headed What is the interest rate?

So those two statements taken together are clearly and unambiguously saying £300 a month maximum for 12 months which is, as I said, £3600. 

If you can quote something different from the Monmouthshire terms and conditions please share.

Assume open account 25th August 2023.
Maturity of 12 months term is 25th August 2024
Pay in £300 on 25th August 2023 - (1 payment)
Then pay in £300 on 1st September 2023 to 1st August 2024 inclusive. - (12 payments)
A Monmouthshire month is a calendar month, unlike Coventry BS which is stipulated as a month from 1st payment (monthiversary)
So, 13 payments made during 12 months term, each being £300 per month..

If the account is opened on 25th August 2023 and a month is a calendar month, are we sure that the end date of the  "12 months" is not 31st of August 2024?

In common with all other BS, maturity is on the 12 month anniversary of opening the account i.e 25th August 2024.

Maturity can either be the date specified at opening, 12 months from the first deposit date, any other date depending on term length or indefinite
12 month terms are the most common, but there are many that are not common to other BS.
In the case of MON and as previously discussed it's 12 months from 1st deposit unless otherwise specified.

So I have a letter saying thanks for opening, but required to return signature which I’ve done. So is the maturity the a year after date on letter or a year after I fund it? I have not funded as yet, some posters saying it opening date others saying first funding…. It’s small amounts but money is sitting ready to fund.

Wheres_My_Cashback

Catplan said:

Wheres_My_Cashback said:

chris_the_bee said:

BestSeagull said:

chris_the_bee said:

OneUser1 said:

Wheres_My_Cashback said:

OneUser1 said:

The Monmouthshire terms say the maximum is £300 per month for twelve months. I read that as a £3600 maximum.

No, It doesn't say that, there is no maximum stipulated.

They have only given a suggested example of interest return upon 12 months deposits just as all accounts do. That doesn't mean a 13t payment isn't possible, however MON don't usually allow them and hasn't on my previous 13 accounts with them.

simonsmithsays said:

subjecttocontract said:

Why ? If the first payment gets made in September then the account will run for 12 months from September.

Personally I'd much rather be benefitting from these rates as early as possible.

Makes no difference as 1 year maturity date is set from 1st deposit date, not the date the a/c is 'opened' unless they are the same.

Actually yes they do say that.

First they say (Direct quote) “The maximum you can pay in is £300 each month” That’s from their paragraph in the summary box headed How do I open and manage my account?

They also say (Direct quote) “Interest is calculated daily and paid at the end of the 12 month term” That’s from the paragraph headed What is the interest rate?

So those two statements taken together are clearly and unambiguously saying £300 a month maximum for 12 months which is, as I said, £3600. 

If you can quote something different from the Monmouthshire terms and conditions please share.

Assume open account 25th August 2023.
Maturity of 12 months term is 25th August 2024
Pay in £300 on 25th August 2023 - (1 payment)
Then pay in £300 on 1st September 2023 to 1st August 2024 inclusive. - (12 payments)
A Monmouthshire month is a calendar month, unlike Coventry BS which is stipulated as a month from 1st payment (monthiversary)
So, 13 payments made during 12 months term, each being £300 per month..

If the account is opened on 25th August 2023 and a month is a calendar month, are we sure that the end date of the  "12 months" is not 31st of August 2024?

In common with all other BS, maturity is on the 12 month anniversary of opening the account i.e 25th August 2024.

Maturity can either be the date specified at opening, 12 months from the first deposit date, any other date depending on term length or indefinite
12 month terms are the most common, but there are many that are not common to other BS.
In the case of MON and as previously discussed it's 12 months from 1st deposit unless otherwise specified.

So I have a letter saying thanks for opening, but required to return signature which I’ve done. So is the maturity the a year after date on letter or a year after I fund it? I have not funded as yet, some posters saying it opening date others saying first funding…. It’s small amounts but money is sitting ready to fund.

Please read back, already discussed and if you're still not sure or need it corroborated may I suggest contacting MONBS directly.

ForumUser7

How long have people found RS withdrawals take on the new Darlington BS platform please? IIRC, it used to be before 15:30 to arrive same day, so hoping it’s still the same

Wheres_My_Cashback

flaneurs_lobster said:

chris_the_bee said:

BestSeagull said:

If the account is opened on 25th August 2023 and a month is a calendar month, are we sure that the end date of the  "12 months" is not 31st of August 2024?

In common with all other BS, maturity is on the 12 month anniversary of opening the account i.e 25th August 2024.

This is the detail from my MonBS RS:

Account Information

Product Name:	CORONATION REGULAR SAVER
Date Opened	26/04/2023
Next Interest Due Date	31/03/2024

Is "Next Interest Due Date" the same as Maturity Date?

No, they have paid interest on 31/03 on 2 other RS I've had which had differing maturity dates.

Wheres_My_Cashback

ForumUser7 said:

How long have people found RS withdrawals take on the new Darlington BS platform please? IIRC, it used to be before 15:30 to arrive same day, so hoping it’s still the same

When I removed all bar £1 from my 4 x RS 2 months ago payment was received the same day.

SavingsBoo

tg99 said:

I’m a new customer to Monmouth and got the welcoming letter today. Will return the sig form in the enclosed envelope but in the meantime can I make first £300 deposit before 5pm today and thus it be allocated to my account tomorrow so can then make another £300 payment on Friday 1 Sep? It says on the letter 1 working day for receipt of deposits but also advised to do before 25th. Thx.

I’m a new customer too … trying not to be critical of Monmouth but it’s all a bit confusing! I sent my signature form back a couple of days ago, the letter says I can’t transact until form is received by them. But then it also says‘Once initial funds have been deposited… you can access your account online by simply completing the registration and activation steps via the My Accounts section of our website..’

But the letter doesn’t tell you how to deposit! So I’ve taken a leap today and completed the online registration and will apparently receive an activation key by post and I’ve made a Faster Payment using the sort code and account number found on the MBS website and my account number from the letter. Fingers crossed !

chris_the_bee

flaneurs_lobster said:

chris_the_bee said:

BestSeagull said:

If the account is opened on 25th August 2023 and a month is a calendar month, are we sure that the end date of the  "12 months" is not 31st of August 2024?

In common with all other BS, maturity is on the 12 month anniversary of opening the account i.e 25th August 2024.

This is the detail from my MonBS RS:

Account Information

Product Name:	CORONATION REGULAR SAVER
Date Opened	26/04/2023
Next Interest Due Date	31/03/2024

Is "Next Interest Due Date" the same as Maturity Date?

There is an anomaly on this account.
In one place it states:-

• Interest is variable and calculated on a daily basis on the balance in the account and paid at the end of the 12-month term.

Elsewhere it states:-

•  Interest is paid annually and can be added to the account or paid into a suitable bank/ building society account or suitable Monmouthshire Building Society account following close of business 31 March.

Looking at my, MONBS online, all my accounts show interest to be payable 31st March, however, this is wrong and contradicts the actual account terms

tg99

SavingsBoo said:

tg99 said:

I’m a new customer to Monmouth and got the welcoming letter today. Will return the sig form in the enclosed envelope but in the meantime can I make first £300 deposit before 5pm today and thus it be allocated to my account tomorrow so can then make another £300 payment on Friday 1 Sep? It says on the letter 1 working day for receipt of deposits but also advised to do before 25th. Thx.

I’m a new customer too … trying not to be critical of Monmouth but it’s all a bit confusing! I sent my signature form back a couple of days ago, the letter says I can’t transact until form is received by them. But then it also says‘Once initial funds have been deposited… you can access your account online by simply completing the registration and activation steps via the My Accounts section of our website..’

But the letter doesn’t tell you how to deposit! So I’ve taken a leap today and completed the online registration and will apparently receive an activation key by post and I’ve made a Faster Payment using the sort code and account number found on the MBS website and my account number from the letter. Fingers crossed !

The sort code and account number was on the product terms and conditions pages enclosed with my letter.

I think the being able to transact bit is probably related to withdrawals rather than paying in but don’t know for certain.