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Principality BS Regular Saver - 13 payments?

Hi,  Does anyone know if the Principality BS Regular Saver 'month' for the £250 monthly payment limit is based on the calendar month or from the date of account opening (ie 25thJune to 24thJuly)?  In otherwords, having opened and funded the account on the 25th of June, can I make an additional payment on in the first week of July?
I have a bunch of regular savers with different banks and the Principality is the only one where this doesn't seem to be made clear in the T&Cs.  I know that in the case of the Coventry BS regular saver they base the month from the date the account was opened.
Thanks

Comments

  • Ibliss
    Ibliss Posts: 41 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    edited 2 July 2020 at 5:50PM
    Maximum balance - yes, that is clear!  thanks.
    As to the other half of the question - I'll ask in a slightly different way - 
    Are you allowed to open the account and make a deposit for £250 on the 25th and then deposit another £250 on the 1st of the next calendar month?   With the Coventry account this is not allowed - the payment on the 1st of the month would be rejected.  Most other Regular Savers I have DO allow for the payment to be made on the 1st, therefore giving you twice the funds earning interest in the first few weeks of the account being open.
    So which way does the Principality regular saver work?
  • eddie7612
    eddie7612 Posts: 51 Forumite
    Part of the Furniture 10 Posts Name Dropper Combo Breaker
    They work on a calendar month basis. As I remember they have a maximum balance of 12x max monthly deposit, so if you've not maxed it out in a previous month you can make a 13th payment up to the limit, but if you've paid in the max every month you can't make a 13th payment.
  • kaMelo
    kaMelo Posts: 2,885 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    There is a link on the regular saver thread that, assuming you have maxed out the previous twelve payments, that a thirteenth payment will be returned.
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