RBS reg Saver monthly limit

pecunianonolet

RBS opended in Deember and Natwest in early Jan. Both accounts at max 5k. 99 x 0.01 Paypal F&F payments per day per account. No issues at all with either Paypal, RBS or Natwest. The banks occasionally block the card and send you a text asking you to verify so simple response with Y and that's it immediatly unblocked. That's 4 batches of 49 payments a day or if in a rush I have to enable a VPN on the phone. Paypal doesn't like to do more than ca 50 transactions in a row. 

B0bbyEwing

phillw said:

B0bbyEwing 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.

Holy moly .... 99 transactions?

Each to their own.

I personally couldn't be bothered with that level of effort. 

artyboy

B0bbyEwing said:

phillw said:

B0bbyEwing 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.

Holy moly .... 99 transactions?

Each to their own.

I personally couldn't be bothered with that level of effort. 

Takes 10-15 seconds per transaction when I do it into my II SIPP account. Perfectly legitimate drip feeding of £1.01 amounts which actually become £1.26 gross into my pension (with more relief via my self assessment).

I spend a couple of minutes to do about 10 a day and that will see me max out my saver before year end...

But as you say, each to their own.

wiseonesomeofthetime

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?

Current account.

Roundups

Select single or double roundups

Turn on/off roundups is at very bottom on my android app

AmityNeon

artyboy said:

B0bbyEwing said:

phillw said:

B0bbyEwing 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.

Holy moly .... 99 transactions?
Each to their own.
I personally couldn't be bothered with that level of effort.

Takes 10-15 seconds per transaction when I do it into my II SIPP account.

At 15 seconds per transaction it would be just over 10 hours at more than minimum wage (up to double it even), earned over 2.5 years.

artyboy

AmityNeon said:

artyboy said:

B0bbyEwing said:

phillw said:

B0bbyEwing 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.

Holy moly .... 99 transactions?
Each to their own.
I personally couldn't be bothered with that level of effort.

Takes 10-15 seconds per transaction when I do it into my II SIPP account.

At 15 seconds per transaction it would be just over 10 hours at more than minimum wage (up to double it even), earned over 2.5 years.

When I'm sitting on yet another interminable Zoom work call, I consider it to be effective multitasking 

B0bbyEwing

artyboy said:

B0bbyEwing said:

phillw said:

B0bbyEwing 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.

Holy moly .... 99 transactions?

Each to their own.

I personally couldn't be bothered with that level of effort. 

Takes 10-15 seconds per transaction when I do it into my II SIPP account. Perfectly legitimate drip feeding of £1.01 amounts which actually become £1.26 gross into my pension (with more relief via my self assessment).

I spend a couple of minutes to do about 10 a day and that will see me max out my saver before year end...

But as you say, each to their own.

The only thing I can say to that is ...

I wish I had your internet connection. 

My 50mbps or whatever it is these days does not allow me to do a 15 second transaction. I'm not trying to say I'm the worlds fastest when it comes to it but at the same time I don't hang about either.


This post made me curious enough to check. BT Fibre 1. 62-69 with a guarantee of 56.

Still, not quick enough to get me on a 15sec transaction-after-transaction pace.