Regular Savings Accounts: The Best Currently Available List!

Nick_C

BestSeagull said:

qsk said:

Has any "new" customer who opened 7% one and then applied for the 8% one? Are you treated as an existing customer in this case?

According to the T&C you are not but some people have been trying that sort of thing (opening an instant access saver followed by an exclusive RS, for example) anyway and MBS appear to have been lenient with these types of applications so far.

What makes you think that?

From the web site:-

"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. "

So once you have opened the 7% account and made a couple of deposits, you are an existing member.

flaneurs_lobster

Nick_C said:

BestSeagull said:

qsk said:

Has any "new" customer who opened 7% one and then applied for the 8% one? Are you treated as an existing customer in this case?

According to the T&C you are not but some people have been trying that sort of thing (opening an instant access saver followed by an exclusive RS, for example) anyway and MBS appear to have been lenient with these types of applications so far.

What makes you think that?

From the web site:-

"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. "

So once you have opened the 7% account and made a couple of deposits, you are an existing member.

So given all that, why would anyone just open the 7% RS and not open the 8% one as well?

Moot now since the 7% is NLA, but if you did secure one the 8% is still available.

SJMALBA

liamcov said:

chris_the_bee said:

allegro120 said:

Growingold said:

Monmouthshire RS's
A question which may have already been answered definitely but not sure.

Does the 12 months run from date of account opening or receipt of first deposit?  Having missed deposit window for August wondering when best to do Septembers?

Many thanks.

Today or as soon as you can and on the 1st of every month starting from October until 1st August 2024. 

12 months runs from date of receipt of first funds.

Does the account mature on that date though?

Not sure if this also applies to the 7% RS, but, from the Exclusive RS Ts & Cs:

SJMALBA

Nick_C said:

BestSeagull said:

qsk said:

Has any "new" customer who opened 7% one and then applied for the 8% one? Are you treated as an existing customer in this case?

According to the T&C you are not but some people have been trying that sort of thing (opening an instant access saver followed by an exclusive RS, for example) anyway and MBS appear to have been lenient with these types of applications so far.

What makes you think that?

From the web site:-

"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. "

So once you have opened the 7% account and made a couple of deposits, you are an existing member.

That was my reading of the Ts & Cs too; having opened the 7% last month, as a first time MBS member, and therefore having to wait for their snail mail processes, this morning, with the 7% now funded, I applied for the 8% RS - time will tell if it is successful...

dlevene

Nick_C said:

BestSeagull said:

qsk said:

Has any "new" customer who opened 7% one and then applied for the 8% one? Are you treated as an existing customer in this case?

According to the T&C you are not but some people have been trying that sort of thing (opening an instant access saver followed by an exclusive RS, for example) anyway and MBS appear to have been lenient with these types of applications so far.

What makes you think that?

From the web site:-

"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. "

So once you have opened the 7% account and made a couple of deposits, you are an existing member.

The point is, if you apply for an EA/7% RS, at that moment you have started to open an account but it is not funded, so strictly speaking per the T&Cs you are not an existing customer and not eligible for the 8% RS.

However, this doesn't seem to be how it is operating in practice, with many (myself included) able to successfully apply for the 8% RS before another account is funded.

snow62

Nick_C said:

From the web site:-

"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. "

So once you have opened the 7% account and made a couple of deposits, you are an existing member.

• I wasn't.  (Most recent account closed a year ago)
• It didn't.  (As I didn't have an account)
• It didn't.  (As I didn't have an account)

They opened an Exclusive anyway, several days before I made any deposits to the 7% which was opened shortly afterwards.  Not complaining!

bristolleedsfan

SJMALBA said:

Nick_C said:

BestSeagull said:

qsk said:

Has any "new" customer who opened 7% one and then applied for the 8% one? Are you treated as an existing customer in this case?

According to the T&C you are not but some people have been trying that sort of thing (opening an instant access saver followed by an exclusive RS, for example) anyway and MBS appear to have been lenient with these types of applications so far.

What makes you think that?

From the web site:-

"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. "

So once you have opened the 7% account and made a couple of deposits, you are an existing member.

That was my reading of the Ts & Cs too; having opened the 7% last month, as a first time MBS member, and therefore having to wait for their snail mail processes, this morning, with the 7% now funded, I applied for the 8% RS - time will tell if it is successful...

I ceased to have Monmouth account a few years ago, login details were still valid.

Applied for easy saver evening before 7% RS was launched.

Funded easy saver with £1 when i saw it had been opened, Waited a day then successfully applied for 8% regular saver. (have 7% RS as well)

chris_the_bee

liamcov said:

chris_the_bee said:

allegro120 said:

Growingold said:

Monmouthshire RS's
A question which may have already been answered definitely but not sure.

Does the 12 months run from date of account opening or receipt of first deposit?  Having missed deposit window for August wondering when best to do Septembers?

Many thanks.

Today or as soon as you can and on the 1st of every month starting from October until 1st August 2024. 

12 months runs from date of receipt of first funds.

Does the account mature on that date though?

Yes, once the interest is applied, the account matures.

BestSeagull

Nick_C said:

BestSeagull said:

qsk said:

Has any "new" customer who opened 7% one and then applied for the 8% one? Are you treated as an existing customer in this case?

According to the T&C you are not but some people have been trying that sort of thing (opening an instant access saver followed by an exclusive RS, for example) anyway and MBS appear to have been lenient with these types of applications so far.

What makes you think that?

From the web site:-

"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. "

So once you have opened the 7% account and made a couple of deposits, you are an existing member.

You're right. I was thinking along the lines that the transactions would have had to have occurred before the ERS was released but it looks like I was reading something into it that wasn't there. 

BestSeagull

flaneurs_lobster said:

Nick_C said:

BestSeagull said:

qsk said:

Has any "new" customer who opened 7% one and then applied for the 8% one? Are you treated as an existing customer in this case?

According to the T&C you are not but some people have been trying that sort of thing (opening an instant access saver followed by an exclusive RS, for example) anyway and MBS appear to have been lenient with these types of applications so far.

What makes you think that?

From the web site:-

"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. "

So once you have opened the 7% account and made a couple of deposits, you are an existing member.

So given all that, why would anyone just open the 7% RS and not open the 8% one as well?

Moot now since the 7% is NLA, but if you did secure one the 8% is still available.

You could open an easy access account instead and become an existing customer that way.