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

savethepandas

Co-op RS

Application made on 27th February.

Account now showing on the website (not there late last night), but no email from co-op telling me it is open.

AndyTh_2

savethepandas said:

Co-op RS

Application made on 27th February.

Account now showing on the website (not there late last night), but no email from co-op telling me it is open.

Thanks, I applied that day too and haven't got an email but your message made me check and found it

Section62

savethepandas said:

Co-op RS

Application made on 27th February.

Account now showing on the website (not there late last night), but no email from co-op telling me it is open.

Co-op

Ditto.

I've no idea what they were doing for the 4 full days.  They make Monmouthshire BS look efficient.

dealyboy

savethepandas said:

Co-op RS

Application made on 27th February.

Account now showing on the website (not there late last night), but no email from co-op telling me it is open.

Co-op Regular Saver application

I made my application on Saturday 1st March (maturity date) and received an application accepted e-mail an hour later. I also just checked thanks to @savethepandas and the account is there in the online banking dashboard. I transferred £250 in and it is showing as available.

subjecttocontract

Section62 said:

savethepandas said:

Co-op RS

Application made on 27th February.

Account now showing on the website (not there late last night), but no email from co-op telling me it is open.

Co-op

Ditto.

I've no idea what they were doing for the 4 full days.  They make Monmouthshire BS look efficient.

Were you expecting them to work over the weekend ?

Stargunner

My Co-op RS that I applied for on Saturday, also appeared today.
As the 12 month duration doesn't start until you fund it and the Co-op allow you 30 days to fund it, I will hold off funding it until towards the end of this month.

Section62

subjecttocontract said:

Section62 said:

savethepandas said:

Co-op RS

Application made on 27th February.

Account now showing on the website (not there late last night), but no email from co-op telling me it is open.

Co-op

Ditto.

I've no idea what they were doing for the 4 full days.  They make Monmouthshire BS look efficient.

Were you expecting them to work over the weekend ?

Not really, but I would expect them to do what most other banks do and have automated systems to manage the application and setting up process for new accounts.

schiff

Mkt H BS

The interest rate is shown as 6.00% but 6.39% when compounded. How does that work, as I'm expecting the interest at maturity?

allegro120

schiff said:

Mkt H BS

The interest rate is shown as 6.00% but 6.39% when compounded. How does that work, as I'm expecting the interest at maturity?

It is 6% AER.  Where does it say 6.39%?  You should get 6% at maturity.

Bridlington1

Bridlington1 said:

I attempted to make a withdrawal of £3450 from my Monmouthshire BS Exclusive RS Issue 2 which would've taken the balance down to £50 and received this message in response:

Dear Bridlington1
Thank you for your on-line transaction request. Unfortunately, this transaction has been declined for the following reason: Under the terms and conditions of the Exclusive Regular Saver Issue 2 no withdrawals are allowed for the 12 month term.
Kind regards

I've sent them a message in response quoting the Ts&Cs in relation to being able to withdraw funds or close the account if they decide to reduce the interest rate so shall see what they say in response. 

Following from the above I've now had the following response from Monmouthshire BS:

Dear Bridlington1, 

Thank you for your message, the current balance on the account is £3500 and the request put through was for £3450, we cannot process partial transfers on the Exclusive Regular Saver Issue 2, but you can close the account. Please put through a transfer of the full balance as a closure and we will process this for you.

Kind Regards