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

Bridlington1

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

veggieblob

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."

flaneurs_lobster

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."

Please note this is an illustration only and does not reflect your specific circumstances.

Does reflect Dudley BS's inability to do sums and their lack of professionalism in allowing publication of content to their website without a decent proofread.

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).