Monmouthshire Building Society

susanann_2

Has anyone manage to get their 3% account open? How have you found setting up internet banking, do payments in get there same day and payments out reach your current account same day or is it dreadfully slow with all transactions? Thanks 

Band7

I think they operate withdrawals on a next working day schedule.

I have just closed mine as they don't let you withdraw anything unless you have first deposited £25k. I was in the process of shifting £25k+ to them, in smaller instalments, but changed my mind when the 3% CHIP and some 3.25% easy but limited access accounts became available. I also found Monmouthshire's  CS is incredibly unresponsive / overloaded, and their systems are clunky. In the meantime, there is now also the 3% Kroo account. None of the alternatives require a £25k minimum balance for getting 3%, so Monmouthshire's account is totally uncompetitive now.

ForumUser7

Band7 said:

I think they operate withdrawals on a next working day schedule.

I have just closed mine as they don't let you withdraw anything unless you have first deposited £25k. I was in the process of shifting £25k+ to them, in smaller instalments, but changed my mind when the 3% CHIP and some 3.25% easy but limited access accounts became available. I also found Monmouthshire's  CS is incredibly unresponsive / overloaded, and their systems are clunky. In the meantime, there is now also the 3% Kroo account. None of the alternatives require a £25k minimum balance for getting 3%, so Monmouthshire's account is totally uncompetitive now.

I keep getting error messages on the phone line saying my call could not be completed at the time - it's really frustrating, so I was told by another team they'd get savings to call me back yesterday, but they never did...

BestSeagull

susanann_2 said:

Has anyone manage to get their 3% account open? How have you found setting up internet banking, do payments in get there same day and payments out reach your current account same day or is it dreadfully slow with all transactions? Thanks 

It took me 2 months, almost to the day to get my account fully operational. Payments in do not appear in your online banking until 9am the next day but they are credited for the day of deposit. I'm not sure if there's a time cut off for that but this has been the case for my deposits made before around 1pm.
Withdrawals made before 2pm are received same day.

ForumUser7 said:

I keep getting error messages on the phone line saying my call could not be completed at the time - it's really frustrating, so I was told by another team they'd get savings to call me back yesterday, but they never did...

I've had that unavailable on the phone thing for more than a week now. 
In the end I called the Cardiff branch, they were extremely helpful although it did take a few calls to sort out the final issue. 

etienneg

Band7 said:

I think they operate withdrawals on a next working day schedule.

I have just closed mine as they don't let you withdraw anything unless you have first deposited £25k. I was in the process of shifting £25k+ to them, in smaller instalments, but changed my mind when the 3% CHIP and some 3.25% easy but limited access accounts became available. I also found Monmouthshire's  CS is incredibly unresponsive / overloaded, and their systems are clunky. In the meantime, there is now also the 3% Kroo account. None of the alternatives require a £25k minimum balance for getting 3%, so Monmouthshire's account is totally uncompetitive now.

Could you be more specific about these, please? It's easy to find rates of 2.75% to 3%, but beyond that it's difficult - until you get to accounts that have higher rates but that only apply to limited balances. Limited access accounts aren't ideal, but much depends on the limitations and individual circumstances.

Band7

etienneg said:

Band7 said:

I think they operate withdrawals on a next working day schedule.

I have just closed mine as they don't let you withdraw anything unless you have first deposited £25k. I was in the process of shifting £25k+ to them, in smaller instalments, but changed my mind when the 3% CHIP and some 3.25% easy but limited access accounts became available. I also found Monmouthshire's  CS is incredibly unresponsive / overloaded, and their systems are clunky. In the meantime, there is now also the 3% Kroo account. None of the alternatives require a £25k minimum balance for getting 3%, so Monmouthshire's account is totally uncompetitive now.

Could you be more specific about these, please? It's easy to find rates of 2.75% to 3%, but beyond that it's difficult - until you get to accounts that have higher rates but that only apply to limited balances. Limited access accounts aren't ideal, but much depends on the limitations and individual circumstances.

You probably missed the boat as the 3.25% / 3.5% accounts were popular and are no longer available for new applicants, or are limited to residents of Wales.

Keep an eye on rates in the next week or to if the BoE raises the base rate on Wednesday. You could also speculatively open the Skipton Tracker and put a pound into it, in expectation of a rate rise.

gt94sss2

Does anyone know how often Monmouthshire review their interest rates?

Bridlington1

gt94sss2 said:

Does anyone know how often Monmouthshire review their interest rates?

I think they're only just getting over the effects of the last time they raised their interest rates. I can't see them doing much for a bit yet, though I hope I'm wrong.

flaneurs_lobster

Re: Coronation Regular Saver -

Does anyone have a copy of the Key Product Information for this account? Specifically, is the account able to be funded on 1st of month or is it monthly on anniversary of opening?

I don't seem to have been sent a copy of the KPI and can't find the information on their website or when logged on.

Bridlington1

flaneurs_lobster said:

Re: Coronation Regular Saver -

Does anyone have a copy of the Key Product Information for this account? Specifically, is the account able to be funded on 1st of month or is it monthly on anniversary of opening?

I don't seem to have been sent a copy of the KPI and can't find the information on their website or when logged on.

It's goes by calendar month so you can fund it on 1st of each month month.

Band7

flaneurs_lobster said:

Re: Coronation Regular Saver -

Does anyone have a copy of the Key Product Information for this account? Specifically, is the account able to be funded on 1st of month or is it monthly on anniversary of opening?

I don't seem to have been sent a copy of the KPI and can't find the information on their website or when logged on.

I don't have the KPI but I had the opening deposit made on 27/04 and the next payment went in ok with a credit date of May 2 (May 1 was a bank holiday).