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

clairec666

surreysaver said:

clairec666 said:

Hattie627 said:

Furness BS 160th Anniversary RS

Of note, a monthly payment of at least £1 (up to £160) is a requirement to maintain the account at the rate. Not many RS's have a minimum monthly payment requirement these days, so this may catch some holders out.

Thanks, that's worth knowing. Although at 6.75% it's going to be near the top of my list for funding each month so I'm unlikely to miss it out.

My spreadsheet is very good at flagging up (via conditional formatting) accounts which have a minimal monthly payment. I'm currently trying to get it to flag up Hanley's "can't miss more than 3 months" rule, but it's a tad more complicated to implement, especially as it's over 2 different tax years which are on separate sheets.

What I tend to do, even if an account doesn't require a minimum monthly payment, is just to pay £1 in via standing order monthly anyway if it's an account I don't want to fund.  That way, if I do want to fund it at a later date, all I have to do is alter the standing order rather than have to set one up.  

WillPS said:

clairec666 said:

Hattie627 said:

Furness BS 160th Anniversary RS

Of note, a monthly payment of at least £1 (up to £160) is a requirement to maintain the account at the rate. Not many RS's have a minimum monthly payment requirement these days, so this may catch some holders out.

Thanks, that's worth knowing. Although at 6.75% it's going to be near the top of my list for funding each month so I'm unlikely to miss it out.

My spreadsheet is very good at flagging up (via conditional formatting) accounts which have a minimal monthly payment. I'm currently trying to get it to flag up Hanley's "can't miss more than 3 months" rule, but it's a tad more complicated to implement, especially as it's over 2 different tax years which are on separate sheets.

I've just scheduled a £25 payment for the end of January, April and July. If I've already filled them, and I forget to cancel the scheduled payment, they'll (presumably) return the overage. No biggy.

Wise words. I moved away from standing orders over a year ago, and funded everything manually, mostly because my income is very irregular and I could just fund everything top-down each month. But now I've got double the number of accounts, each with its own deposit limits and T&C quirks, I might move back towards standing orders for some of them.

Bridlington1

Mansfield BS have launched a My Milestone Saver at 6% variable (includes 2.75% bonus for 12 months)

£500/mth max
Branch/post only
1 withdrawal per calendar year including closure

PowerSavingMode

clairec666 said:

Hattie627 said:

Furness BS 160th Anniversary RS

Of note, a monthly payment of at least £1 (up to £160) is a requirement to maintain the account at the rate. Not many RS's have a minimum monthly payment requirement these days, so this may catch some holders out.

Thanks, that's worth knowing. Although at 6.75% it's going to be near the top of my list for funding each month so I'm unlikely to miss it out.

My spreadsheet is very good at flagging up (via conditional formatting) accounts which have a minimal monthly payment. I'm currently trying to get it to flag up Hanley's "can't miss more than 3 months" rule, but it's a tad more complicated to implement, especially as it's over 2 different tax years which are on separate sheets.

Monthly minimum payments

Is that easy to do? I currently have a extremely sophisticated ( ;-) ) method — I embolden the minimum required in my 'amount per month' column!

friolento

Bridlington1 said:

Mansfield BS have launched a My Milestone Saver at 6% variable (includes 2.75% bonus for 12 months)

£500/mth max
Branch/post only
1 withdrawal per calendar year excluding closure

Interesting but I will pass as I am nowhere near a Mansfield Branch and I find postal applications and management too tedious

WillPS

friolento said:

Bridlington1 said:

Mansfield BS have launched a My Milestone Saver at 6% variable (includes 2.75% bonus for 12 months)

£500/mth max
Branch/post only
1 withdrawal per calendar year excluding closure

Interesting but I will pass as I am nowhere near a Mansfield Branch and I find postal applications and management too tedious

There is an online portal to see transactions, in fairness. And they'll send an application pack with a reply paid envelope if you ask. 

It is a faff having to send in your passbook in to get your money back though. My wife has a small amount in an  expired bonus saver which we've intended to get when we next go to North Nottinghamshire. Unfortunately a daytime visit has yet to occur.

A new account is at least an opportunity to get that book sent in and the funds extracted.

chris_the_bee

Bridlington1 said:

Mansfield BS have launched a My Milestone Saver at 6% variable (includes 2.75% bonus for 12 months)

£500/mth max
Branch/post only
1 withdrawal per calendar year excluding closure

Mansfield My Milestone Saver
T's&C's actually say "Closure is allowed if no withdrawals have been made in the calendar year."

Bridlington1

chris_the_bee said:

Bridlington1 said:

Mansfield BS have launched a My Milestone Saver at 6% variable (includes 2.75% bonus for 12 months)

£500/mth max
Branch/post only
1 withdrawal per calendar year excluding closure

Mansfield My Milestone Saver
T's&C's actually say "Closure is allowed if no withdrawals have been made in the calendar year."

Thanks for bringing this to my attention. I could've sworn I'd typed that originally but evidently not. Now corrected.

rob37uk

Bridlington1 said:

Mansfield BS have launched a My Milestone Saver at 6% variable (includes 2.75% bonus for 12 months)

£500/mth max
Branch/post only
1 withdrawal per calendar year including closure

Very quick application form, only 4 pages need printing rather than the 6. Freepost address previously used:-

Mansfield BS

Freepost NG44

Regent House

Regent Street

Mansfield

Nottinghamshire

NG18 1BR

WillPS

rob37uk said:

Bridlington1 said:

Mansfield BS have launched a My Milestone Saver at 6% variable (includes 2.75% bonus for 12 months)

£500/mth max
Branch/post only
1 withdrawal per calendar year including closure

Very quick application form, only 4 pages need printing rather than the 6. Freepost address previously used:-

Mansfield BS

Freepost NG44

Regent House

Regent Street

Mansfield

Nottinghamshire

NG18 1BR

Where is this address presented? Seems a little risky to use a Freepost address which the society might have stopped paying for the use of.

EDIT: the only hits for the address on Google are on this board, one from 2022 asking if it still worked (no confirmation it did) and the other from a thread about carpetbagging in 2008!

rob37uk

WillPS said:

rob37uk said:

Bridlington1 said:

Mansfield BS have launched a My Milestone Saver at 6% variable (includes 2.75% bonus for 12 months)

£500/mth max
Branch/post only
1 withdrawal per calendar year including closure

Very quick application form, only 4 pages need printing rather than the 6. Freepost address previously used:-

Mansfield BS

Freepost NG44

Regent House

Regent Street

Mansfield

Nottinghamshire

NG18 1BR

Where is this address presented? Seems a little risky to use a Freepost address which the society might have stopped paying for the use of.

EDIT: the only hits for the address on Google are on this board, one from 2022 (no confirmation it worked) and the other from 2008!

It is listed here in this very old thread CarpetBagging- The best accounts to open at each Building Society — MoneySavingExpert Forum but I have used it successfully in the last year. If worried, I suggest a stamp.