Saffron Nominated Account Issue?

jameseonline

I applied for a 12 Month Members Regular Saver account with Saffron over the weekend, heard nothing from them.

Rang them earlier today, not much said to me tbh, apparently they can't verify my Virgin Money account which I find strange because I've already got two savings accounts ( esaver & members month regular) with them & recently had their small saver, all funded by my Virgin Money account.

She even confirmed with me that she can see it's the same Virgin account number used on my application that is already attached to my accounts.

Just wondering if anyone has experienced similar/same.

My thoughts are did I accidentally give them my Virgin M Plus saver details?, are they rejecting me because I have members month or because my small saver is still on their system even though it ended?.

Descrabled

I have funded my Saffron accounts from various current accounts but never from my nominated account for withdrawals. Saffron don't seem to care.

If you start to make a withdrawal in the app or online from any of your Saffron accounts it will show the sort code and account number of yours nominated account; no need to actually proceed to make a withdrawal, just close app or close online.

jameseonline

 Descrabled said:

I have funded my Saffron accounts from various current accounts but never from my nominated account for withdrawals. Saffron don't seem to care.

If you start to make a withdrawal in the app or online from any of your Saffron accounts it will show the sort code and account number of yours nominated account; no need to actually proceed to make a withdrawal, just close app or close online.

I'm not looking to close any accounts just open a Regular Saver.

Been with them a while.

Product switch after product switch because they kept doing new issues of small saver, then eventually they decided to have just 1 variable small saver and mine recently ended & I now want their 12 months member regular saver

JamesRobinson48

jameseonline said:

I applied for a 12 Month Members Regular Saver account with Saffron over the weekend, heard nothing from them.

Rang them earlier today, not much said to me tbh, apparently they can't verify my Virgin Money account which I find strange because I've already got two savings accounts ( esaver & members month regular) with them & recently had their small saver, all funded by my Virgin Money account.

As far as I can see from Saffron's RS T&Cs, you're only permitted one RS (of any type) at a time. If you've already got one Saffron RS, how come you've now applied for another?  Might the problem be that you're ineligible for the account that you've applied for?

jameseonline

I believe the members month regular saver was an exception as it's not a standard regular saver they offer therefore you could have that plus one of their standard ones.

Members Month is basically the same as small saver @ £50 a month except 1 difference, it's 9%.

I had small saver 1st, then got members month, my small saver ended recently, I now want the 5.25% account at £500 a month max.

So Small & 12 Months Member Regular are the two they always offer.

The esaver is an easy access account not a regular saver.

jameseonline

jameseonline said:

I believe the members month regular saver was an exception as it's not a standard regular saver they offer therefore you could have that plus one of their standard ones.

Members Month is basically the same as small saver @ £50 a month except 1 difference, it's 9%.

I had small saver 1st, then got members month, my small saver ended recently, I now want the 5.25% account at £500 a month max.

So Small & 12 Months Member Regular are the two they always offer.

The esaver is an easy access account not a regular saver.

https://web.archive.org/web/20230620023847/https://www.saffronbs.co.uk/savings/regular-savings-accounts/members-month-loyalty-saver

Under the how do I open and manage:

You can only hold one Members Month Loyalty Saver, as well as one regular savings product at any time with Saffron.

😁

Kim_13

jameseonline said:

jameseonline said:

I believe the members month regular saver was an exception as it's not a standard regular saver they offer therefore you could have that plus one of their standard ones.

Members Month is basically the same as small saver @ £50 a month except 1 difference, it's 9%.

I had small saver 1st, then got members month, my small saver ended recently, I now want the 5.25% account at £500 a month max.

So Small & 12 Months Member Regular are the two they always offer.

The esaver is an easy access account not a regular saver.

https://web.archive.org/web/20230620023847/https://www.saffronbs.co.uk/savings/regular-savings-accounts/members-month-loyalty-saver

Under the how do I open and manage:

You can only hold one Members Month Loyalty Saver, as well as one regular savings product at any time with Saffron.

😁

Not the clearest term in the world, as the Members Month Loyalty Saver IS a regular savings product. Upon opening the 9% account, I reduced the Small Saver to nil balance, in case they meant they didn’t permit both. A few days later they sent me a Secure Message saying it would be closed in a month if not funded, so if ever they say I wasn’t allowed to save into both, I’ll be able to respond that they invited me to fund the Small Saver, and it would have been visible to them that I held the Members Month version at that time.

jameseonline

It seems Saffron have now opened the 5.25% Regular Saver as it is now showing up on app, they also sent me 2 emails, 1 with User ID & account details, the other saying it's open & managing account online.

jameseonline

Kim_13 said:

jameseonline said:

jameseonline said:

I believe the members month regular saver was an exception as it's not a standard regular saver they offer therefore you could have that plus one of their standard ones.

Members Month is basically the same as small saver @ £50 a month except 1 difference, it's 9%.

I had small saver 1st, then got members month, my small saver ended recently, I now want the 5.25% account at £500 a month max.

So Small & 12 Months Member Regular are the two they always offer.

The esaver is an easy access account not a regular saver.

https://web.archive.org/web/20230620023847/https://www.saffronbs.co.uk/savings/regular-savings-accounts/members-month-loyalty-saver

Under the how do I open and manage:

You can only hold one Members Month Loyalty Saver, as well as one regular savings product at any time with Saffron.

😁

Not the clearest term in the world, as the Members Month Loyalty Saver IS a regular savings product. Upon opening the 9% account, I reduced the Small Saver to nil balance, in case they meant they didn’t permit both. A few days later they sent me a Secure Message saying it would be closed in a month if not funded, so if ever they say I wasn’t allowed to save into both, I’ll be able to respond that they invited me to fund the Small Saver, and it would have been visible to them that I held the Members Month version at that time.

Yeah I get you, I just assumed they allowed it as they never closed my account or spoke to me about it.

Did a forum search, the archived regular saver terms came up, hense where I got the link from.

Thinking about it though it wouldn't be fair to offer an account when several people would already have regulars set up.

It's a nice extra account to have set up & wasn't available for long.

Kim_13

jameseonline said:

Kim_13 said:

jameseonline said:

jameseonline said:

I believe the members month regular saver was an exception as it's not a standard regular saver they offer therefore you could have that plus one of their standard ones.

Members Month is basically the same as small saver @ £50 a month except 1 difference, it's 9%.

I had small saver 1st, then got members month, my small saver ended recently, I now want the 5.25% account at £500 a month max.

So Small & 12 Months Member Regular are the two they always offer.

The esaver is an easy access account not a regular saver.

https://web.archive.org/web/20230620023847/https://www.saffronbs.co.uk/savings/regular-savings-accounts/members-month-loyalty-saver

Under the how do I open and manage:

You can only hold one Members Month Loyalty Saver, as well as one regular savings product at any time with Saffron.

😁

Not the clearest term in the world, as the Members Month Loyalty Saver IS a regular savings product. Upon opening the 9% account, I reduced the Small Saver to nil balance, in case they meant they didn’t permit both. A few days later they sent me a Secure Message saying it would be closed in a month if not funded, so if ever they say I wasn’t allowed to save into both, I’ll be able to respond that they invited me to fund the Small Saver, and it would have been visible to them that I held the Members Month version at that time.

Yeah I get you, I just assumed they allowed it as they never closed my account or spoke to me about it.

Did a forum search, the archived regular saver terms came up, hense where I got the link from.

Thinking about it though it wouldn't be fair to offer an account when several people would already have regulars set up.

It's a nice extra account to have set up & wasn't available for long.

I didn't expect it to be around after June, as June is their members' month, but it was pulled during the month if I recall correctly.

Indeed it is a nice extra account, and required membership of 1 year as of the launch date, so I suppose that's why the Small Saver seems to be permitted in addition. Many would have met the requirement via their Small Saver as I did, though I would have been happy to convert it to any Instant Access Account to retain membership if required to do so. I wasn't fully funding the Small Saver by that point, as I had either better rates elsewhere or fixed rates paying about the same.