The Old Regular Savers Discussion Thread 28/12/24-29/1/26

10_66

Principality 1 Year Triple Access
I opened this last April and it's now got the full £600 in it.  Can anyone confirm if Principality adhere to their maximum limits, please (I'm afraid my memory fails me), as there's another couple of months' left before it matures?

allegro120

10_66 said:

Principality 1 Year Triple Access
I opened this last April and it's now got the full £600 in it.  Can anyone confirm if Principality adhere to their maximum limits, please (I'm afraid my memory fails me), as there's another couple of months' left before it matures?

Quote from t&c - "If your account reaches £600.00, you cannot pay anymore money in." 

Reg_Smeeton

Apologies, I’m probably trawling over old ground here, but is there a work around to open the Market Harborough RS online if you are not an existing customer? 

janusd

10_66 said:

Principality 1 Year Triple Access
I opened this last April and it's now got the full £600 in it.  Can anyone confirm if Principality adhere to their maximum limits, please (I'm afraid my memory fails me), as there's another couple of months' left before it matures?

I think the answer is it depends! 

I mistakenly put a 13th payment into one of their RS at the end of last year (posted here) - the t&c stated a maximum of £3k, but my closing balance was £3,250 - they didn't return that 13th payment and the interest paid was correct for that bloated closing balance...

when I posted the above, another user posted they had done the same thing - though their 13th payment (to a different PBS RS) was returned... so it might be pot luck as to whether a 13th payment is accepted or not - but I can't see a 13th payment making much of a difference in terms of interest received in your case?

10_66

allegro120 said:

10_66 said:

Principality 1 Year Triple Access
I opened this last April and it's now got the full £600 in it.  Can anyone confirm if Principality adhere to their maximum limits, please (I'm afraid my memory fails me), as there's another couple of months' left before it matures?

Quote from t&c - "If your account reaches £600.00, you cannot pay anymore money in." 

Yes, thank you, I was aware of that before I posted my question, but as some societies don't enforce similar account limit restrictions (as documented by others on this thread), I wondered if others have ever managed do this with the Principality.

10_66

janusdesign said:

10_66 said:

Principality 1 Year Triple Access
I opened this last April and it's now got the full £600 in it.  Can anyone confirm if Principality adhere to their maximum limits, please (I'm afraid my memory fails me), as there's another couple of months' left before it matures?

I think the answer is it depends! 

I mistakenly put a 13th payment into one of their RS at the end of last year (posted here) - the t&c stated a maximum of £3k, but my closing balance was £3,250 - they didn't return that 13th payment and the interest paid was correct for that bloated closing balance...

when I posted the above, another user posted they had done the same thing - though their 13th payment (to a different PBS RS) was returned... so it might be pot luck as to whether a 13th payment is accepted or not - but I can't see a 13th payment making much of a difference in terms of interest received in your case?

Thanks @janusdesign, interesting that it's hit and miss.  Yes, the difference in interest is minimal if 2 further payments were made (to reach mid April), just querying it 

Bob2000

10_66 said:

Principality 1 Year Triple Access
I opened this last April and it's now got the full £600 in it.  Can anyone confirm if Principality adhere to their maximum limits, please (I'm afraid my memory fails me), as there's another couple of months' left before it matures?

Well, today, they returned £12.62 to my current  account  from the same RS as mentioned  above. Don't know why because l always deposit exactly £50 on the 1st by SO??
So I can't see them letting an extra £50 slipp past them!

10_66

Bob2000 said:

10_66 said:

Principality 1 Year Triple Access
I opened this last April and it's now got the full £600 in it.  Can anyone confirm if Principality adhere to their maximum limits, please (I'm afraid my memory fails me), as there's another couple of months' left before it matures?

Well, today, they returned £12.62 to my current  account  from the same RS as mentioned  above. Don't know why because l always deposit exactly £50 on the 1st by SO??
So I can't see them letting an extra £50 slipp past them!

Thanks @Bob2000, that does sound odd.

Slinky

Slid in an application for the Santander RS at 5% as it was fixed rate, at 11.59am. Confirmed at 12.00. Will be interesting to see what happens now we've had a 0.25% interest rate cut to the variable savers.

Kim_13

Bob2000 said:

10_66 said:

Principality 1 Year Triple Access
I opened this last April and it's now got the full £600 in it.  Can anyone confirm if Principality adhere to their maximum limits, please (I'm afraid my memory fails me), as there's another couple of months' left before it matures?

Well, today, they returned £12.62 to my current  account  from the same RS as mentioned  above. Don't know why because l always deposit exactly £50 on the 1st by SO??
So I can't see them letting an extra £50 slipp past them!

Was there £12.62 interest at some point? I remember this being questioned here when the account launched, due to the mid term payment of interest.

Though April to February = 11 payments, so surely they should only reject entirely if the interest had been more than £50 to take the balance to £600. Impossible given the rate and maximum balance involved. I overfunded one a few months ago and they returned the excess but not the whole payment.