RBS reg Saver monthly limit

https://www.rbs.co.uk/savings.html

£150/month limit.

This month for example £3.99 has gone in already, but that was an interest payment.

So can I send over £150 or only £146.01?
«1

Comments

  • eskbanker
    eskbanker Posts: 36,879 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    £150, which is the monthly deposit limit, interest doesn't count towards this.
  • kaMelo
    kaMelo Posts: 2,828 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    You can transfer/deposit £150 per month, the interest and round ups credited to the account don't count towards the £150.
  • Vortigern
    Vortigern Posts: 3,301 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    You can pay in £150.  You can pay in more by using roundups.

    The interest added by RBS does not count as paying in.
  • B0bbyEwing
    B0bbyEwing Posts: 1,479 Forumite
    1,000 Posts Second Anniversary Name Dropper
    Vortigern said:
    You can pay in £150.  You can pay in more by using roundups.

    The interest added by RBS does not count as paying in.
    Sounds interesting... What do you mean you can pay in more by using roundups? 

    In case it makes a difference to anything, with RBOS I literally have a current account & this reg saver. The current account just has £1 in it & the whole thing exists just because of the interest rate on the reg saver. 

    Only roundups I know of are with Chase when I spend £0.80 they chuck the other £0.20 in to a roundup account. 
  • phillw
    phillw Posts: 5,656 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 20 February 2023 at 12:33PM
    Only roundups I know of are with Chase when I spend £0.80 they chuck the other £0.20 in to a roundup account. 
    It's the same, round ups can be added to the digital saver but don't count towards the £150 limit.
    So if you pay £1.01 using your debit card it will transfer 0.99 to the digital saver (if you have it in your current account).

    Some people have been making repeated £1.01 debit card payments to a savings account, but I think you are limited to 99 debit card payments a month. They have also received letters asking them to stop doing it, or their savings account will be closed. In any event, the return is less than minimum wage.

  • phillw said:
    Only roundups I know of are with Chase when I spend £0.80 they chuck the other £0.20 in to a roundup account. 
    It's the same, round ups can be added to the digital saver but don't count towards the £150 limit.
    So if you pay £1.01 using your debit card it will transfer 0.99 to the digital saver (if you have it in your current account).

    Some people have been making repeated £1.01 debit card payments to a savings account, but I think you are limited to 99 debit card payments a month. They have also received letters asking them to stop doing it, or their savings account will be closed. In any event, the return is less than minimum wage.

    If you enable double round-ups, that would equate to £1.98
  • phillw said:
    Only roundups I know of are with Chase when I spend £0.80 they chuck the other £0.20 in to a roundup account. 
    It's the same, round ups can be added to the digital saver but don't count towards the £150 limit.
    So if you pay £1.01 using your debit card it will transfer 0.99 to the digital saver (if you have it in your current account).

    Some people have been making repeated £1.01 debit card payments to a savings account, but I think you are limited to 99 debit card payments a month. They have also received letters asking them to stop doing it, or their savings account will be closed. In any event, the return is less than minimum wage.

    The limit seems to be 99 debit card transactions a day.

    There's an existing thread about the account here (from relevant post) 

    https://forums.moneysavingexpert.com/discussion/comment/79733726/#Comment_79733726
  • There's anecdotal hear say about people running into problems by utilising systems like this, but I've yet to see ANY evidence of this and as someone who has utilised round ups to the max with Chase/NW and others before I've never encountered ANY issue.
  • I have a RBS digital regular saver and was wanting to start using roundups but don't seem to be able to turn this function on. I have looked in digital banking but there is no toggle button to turn this feature on or off?

    I was going to download the RBS app onto my ipod touch but it is iOS 12.5.7 and cannot be updated any higher and the RBS mobile app requires iOS 13 or higher.

    What would be the cheapest device that I could buy to download the RBS mobile app onto to get it working? I think for the RBS mobile app it has to be iOS 13 or Android 7?

    I don't understand why I cannot just turn on roundups through my digital banking. Is there some technical reason why this is not possible?
  • Sumselkb said:
    I have a RBS digital regular saver and was wanting to start using roundups but don't seem to be able to turn this function on. I have looked in digital banking but there is no toggle button to turn this feature on or off?

    I was going to download the RBS app onto my ipod touch but it is iOS 12.5.7 and cannot be updated any higher and the RBS mobile app requires iOS 13 or higher.

    What would be the cheapest device that I could buy to download the RBS mobile app onto to get it working? I think for the RBS mobile app it has to be iOS 13 or Android 7?

    I don't understand why I cannot just turn on roundups through my digital banking. Is there some technical reason why this is not possible?
    Can't help with the question of which device you could use. I recently enabled double rounds-up, on my partners I-pad. Quite easy, but probably won't use the app ever again.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.3K Banking & Borrowing
  • 252.8K Reduce Debt & Boost Income
  • 453.2K Spending & Discounts
  • 243.2K Work, Benefits & Business
  • 597.8K Mortgages, Homes & Bills
  • 176.6K Life & Family
  • 256.3K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.