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

clairec666

veggieblob said:

Bridlington1 said:

Dudley BS have launched a One Year Regular Saver Issue 9 at 5% (var)

£500/mth max
Branch/post only
No withdrawals but early closure permitted.
Can skip months if you wish

Am I seeing things?!    "If you were to open this account with the maximum opening balance of £500 and made the maximum investment of £500 on the 1st of each month, the total amount deposited over the one year period would be £6,000 earning you £162.12 interest. This would result in a total balance of £10,162.12."

Take a screenshot of that, and when your account matures with only £6,162.12 in it... 😁

subjecttocontract

At least it proves they're human. Anyone here never made a mistake ?

flaneurs_lobster

subjecttocontract said:

At least it proves they're human. Anyone here never made a mistake ?

Of course not, but I'm not a regulated financial institution managing over £1 billion of other people's money, a hundred employees and at least one director earning over £120k/year.

subjecttocontract

The size of one's salary does not determine the ability to make mistakes.

flaneurs_lobster

subjecttocontract said:

The size of one's salary does not determine the ability to make mistakes.

Indeed. But the point I'm banging on about is that while it's fine for a financial institution to allow the intern to update the bit of the website to do with "Community Engagement" or the design of the new uniform gilets, details of a new financial product should be, at least, double-checked by someone reasonably senior.

E_zroda

clairec666 said:

veggieblob said:

Bridlington1 said:

Dudley BS have launched a One Year Regular Saver Issue 9 at 5% (var)

£500/mth max
Branch/post only
No withdrawals but early closure permitted.
Can skip months if you wish

Am I seeing things?!    "If you were to open this account with the maximum opening balance of £500 and made the maximum investment of £500 on the 1st of each month, the total amount deposited over the one year period would be £6,000 earning you £162.12 interest. This would result in a total balance of £10,162.12."

Take a screenshot of that, and when your account matures with only £6,162.12 in it... 😁

Tried to do this (admittedly difference was only few pounds) with FD. As most of us here are aware, their RS is quite inflexible and my £300 went in by SO for 12 months bang on date. Even logged a complaint with them and they rejected it citing the 'illustration purposes only'.

WillPS

E_zroda said:

clairec666 said:

veggieblob said:

Bridlington1 said:

Dudley BS have launched a One Year Regular Saver Issue 9 at 5% (var)

£500/mth max
Branch/post only
No withdrawals but early closure permitted.
Can skip months if you wish

Am I seeing things?!    "If you were to open this account with the maximum opening balance of £500 and made the maximum investment of £500 on the 1st of each month, the total amount deposited over the one year period would be £6,000 earning you £162.12 interest. This would result in a total balance of £10,162.12."

Take a screenshot of that, and when your account matures with only £6,162.12 in it... 😁

Tried to do this (admittedly difference was only few pounds) with FD. As most of us here are aware, their RS is quite inflexible and my £300 went in by SO for 12 months bang on date. Even logged a complaint with them and they rejected it citing the 'illustration purposes only'.

First Direct's example is theoretically possible if you open the account in February (and it isn't a leap year). 

E_zroda

WillPS said:

E_zroda said:

clairec666 said:

veggieblob said:

Bridlington1 said:

Dudley BS have launched a One Year Regular Saver Issue 9 at 5% (var)

£500/mth max
Branch/post only
No withdrawals but early closure permitted.
Can skip months if you wish

Am I seeing things?!    "If you were to open this account with the maximum opening balance of £500 and made the maximum investment of £500 on the 1st of each month, the total amount deposited over the one year period would be £6,000 earning you £162.12 interest. This would result in a total balance of £10,162.12."

Take a screenshot of that, and when your account matures with only £6,162.12 in it... 😁

Tried to do this (admittedly difference was only few pounds) with FD. As most of us here are aware, their RS is quite inflexible and my £300 went in by SO for 12 months bang on date. Even logged a complaint with them and they rejected it citing the 'illustration purposes only'.

First Direct's example is theoretically possible if you open the account in February (and it isn't a leap year). 

Only decided to log the complaint after seeing posts from forumites here on the interest they have received on maturity dates that were +/- appr. a week around mine

rallycurve

1stTimer said:

My principality 6 month RS matured today. I asked for a new one to be set up so £200 has been moved there. I am unable to see what account the remaining 1231.79 has been paid too? Yes I know I should have taken a note of my instructions but I assumed I would get an email confirmation.

Is there normally a delay on the funds transfer if I chose for it to be paid to another bank?

Remaining 1231.79? Does that mean you had £1400 in it? I thought the maximum for this account was £1200. Do they not enforce the limit?

Kim_13

rallycurve said:

1stTimer said:

My principality 6 month RS matured today. I asked for a new one to be set up so £200 has been moved there. I am unable to see what account the remaining 1231.79 has been paid too? Yes I know I should have taken a note of my instructions but I assumed I would get an email confirmation.

Is there normally a delay on the funds transfer if I chose for it to be paid to another bank?

Remaining 1231.79? Does that mean you had £1400 in it? I thought the maximum for this account was £1200. Do they not enforce the limit?

As with multiple of the same issue, some have succeeded with an extra payment and others have had it rejected. It’s a lottery. £1,200 is the limit, yes.