Principality regular savers

shirley107

Sorry am new to the forum and just wondering if anyone can verify this for me. This regular savings account says there is a charge of £8. Is this a yearly or monthly fee? Has anyone opened one of these?

refluxer

I've had a number of Principality regular savers - there shouldn't be any charges for holding the account.

Where have you seen a charge mentioned and what is it for ?

veggieblob

shirley107 said:

Sorry am new to the forum and just wondering if anyone can verify this for me. This regular savings account says there is a charge of £8. Is this a yearly or monthly fee? Has anyone opened one of these?

I'm not sure where you saw this, but I have/had multiple RS with Principality and never been charged anything.

Hal17

When I just looked at the terms, the only charge I could see is £8.00 if you need to arrange a telegraphic transfer.

refluxer

If it's the 'telegraphic transfer fee' from the tariff of charges that you're referring to, then this won't apply if you're dealing with the account via the usual ways (ie. bank transfer/faster payment, standing order etc)

It may be an old-fashioned way of referring to a payment out of the account using CHAPS which won't be necessary for the vast majority of people opening this account I suspect as CHAPS is mostly used tor same-day payments of amounts far larger than you would be able to save in one of these regular savers.

redux

I've never seen this

I just looked on the Tariff of Charges, and found an £8 charge for telegraphic transfer

Is that what you mean? It won't apply to standard transfers, such as me closing 2 accounts early a couple of weeks ago, which came to my bank the next day (apparently could have been same day if I'd applied an hour earlier)

SonOfPearl

Principality Building Society's current range of regular savers are found here: https://www.principality.co.uk/savings-accounts/Regular-Saver

I am not aware of any of them having a charge.