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

Born2Save_3

Does anyone have any news on having a second Progressive RS ?

I'm tempted but concerned about being penalised on the one hand and missing the opportunity of the other hand.

I've been in touch with MHBS several times in the past two weeks and I've not had any negative comments regarding having two RS and fully funding them in December or this month, January.

If anyone used the Ulster Loyalty Saver over the past year, interest was paid today and accessible at around 3am, even though the transaction is stated as yesterday 2/1/25.  Was the same for NatWest Digital Regular Saver also; Interest stated as 2/1/25 but not actually credited till after 3am today.  I'm thinking about making a complaint over this.

Bigwheels1111

All I know is I've made 2 payments £500 in total and have a SO in place, but who knows what will happen.

Same with MHBS, It's a big game.

ForumUser7

Born2Save_3 said:

Does anyone have any news on having a second Progressive RS ?

I'm tempted but concerned about being penalised on the one hand and missing the opportunity of the other hand.

I've been in touch with MHBS several times in the past two weeks and I've not had any negative comments regarding having two RS and fully funding them in December or this month, January.

If anyone used the Ulster Loyalty Saver over the past year, interest was paid today and accessible at around 3am, even though the transaction is stated as yesterday 2/1/25.  Was the same for NatWest Digital Regular Saver also; Interest stated as 2/1/25 but not actually credited till after 3am today.  I'm thinking about making a complaint over this.

Re NW DRS - That is normal for the account. As far as I can recall, interest is added on the first working day, and shows from the day after that (perhaps the working day after that).

surreysaver

ForumUser7 said:

surreysaver said:

ForumUser7 said:

Ecology Building Society Regular Saver

Now this account no longer accepts direct debit deposits, what have people done with it please?

It's one of those open ended accounts, but requires monthly funding, has a period after closure during which you cannot open another, but is at a very low rate so difficult to know, and has limited withdrawals.

I already have an easy access with them, so would retain my membership through that.

Thanks!

I'm still expecting one direct debit to be taken. Once this has been taken I will just reduce the account to the minimum required to keep it open (I believe it's £10) just to keep a relationship with Ecology just in case it becomes worth it later 

Are you going to set up a standing order or something instead to fund, or just leave it at £10 and see what happens? Think it’s one of the ones that requires a monthly payment

EDIT: Having looked at the terms again, I’m not sure if it does require monthly payment. Anyone know please? Perhaps they changed the ts and cs 

Ecology 
 I've got an email dated 14th February 2024 stating you no longer need to make monthly deposits. I think it's the same time they removed the ability to pay in by direct debit for new accounts.

ForumUser7

surreysaver said:

ForumUser7 said:

surreysaver said:

ForumUser7 said:

Ecology Building Society Regular Saver

Now this account no longer accepts direct debit deposits, what have people done with it please?

It's one of those open ended accounts, but requires monthly funding, has a period after closure during which you cannot open another, but is at a very low rate so difficult to know, and has limited withdrawals.

I already have an easy access with them, so would retain my membership through that.

Thanks!

I'm still expecting one direct debit to be taken. Once this has been taken I will just reduce the account to the minimum required to keep it open (I believe it's £10) just to keep a relationship with Ecology just in case it becomes worth it later 

Are you going to set up a standing order or something instead to fund, or just leave it at £10 and see what happens? Think it’s one of the ones that requires a monthly payment

EDIT: Having looked at the terms again, I’m not sure if it does require monthly payment. Anyone know please? Perhaps they changed the ts and cs 

Ecology 
 I've got an email dated 14th February 2024 stating you no longer need to make monthly deposits. I think it's the same time they removed the ability to pay in by direct debit for new accounts.

Thank you very much for sharing this - I just went to update my spreadsheet, and found I actually had noted it down, but then completely forgot about it.

Given their EA is a lower rate, and requires a higher minimum balance (£10 vs £25), I may in fact close my Ecology Easy Access and retain my Ecology Regular Saver instead. Seems to be the best option, unless I have forgotten anything about that account too 😂

AmityNeon

Born2Save_3 said:

If anyone used the Ulster Loyalty Saver over the past year, interest was paid today and accessible at around 3am, even though the transaction is stated as yesterday 2/1/25. Was the same for NatWest Digital Regular Saver also; Interest stated as 2/1/25 but not actually credited till after 3am today. I'm thinking about making a complaint over this.

What do you hope to achieve with a complaint? Their product literature is explicitly clear on this:

Interest is calculated on a daily basis and paid into your account on the first business day of the month. You’ll be able to see and access the interest in your account on the following day.

The value date of the interest credit is still the first business day of the month, so if you wished, you could make a withdrawal on the first business day of the month equal to the amount of expected interest without actually reducing your effective balance for the purposes of interest calculation and accrual.

schiff

Chorley
I have just opened their RS via the link in the recent Bridlington post (TY) referring to it.
I was warned that the first deposit must be made within 15 calendar days of opening - which is shorter than in the link I followed. It could catch people out!

SJMALBA

IanManc said:

schiff said:

Chorley
I have just opened their RS via the link in the recent Bridlington post (TY) referring to it.
I was warned that the first deposit must be made within 15 calendar days of opening - which is shorter than in the link I followed. It could catch people out!

It's worth noting too that the email you get when  you open the account tells you that your bank transfer might take two business days to show on your account. My bank transfer made yesterday afternoon is still not showing in the account tonight so I'm glad Chorley told me in advance!

My payment to Chorley, made yesterday after midnight, was showing this morning in the online account, dated yesterday.

jaypers

SJMALBA said:

IanManc said:

schiff said:

Chorley
I have just opened their RS via the link in the recent Bridlington post (TY) referring to it.
I was warned that the first deposit must be made within 15 calendar days of opening - which is shorter than in the link I followed. It could catch people out!

It's worth noting too that the email you get when  you open the account tells you that your bank transfer might take two business days to show on your account. My bank transfer made yesterday afternoon is still not showing in the account tonight so I'm glad Chorley told me in advance!

My payment to Chorley, made yesterday after midnight, was showing this morning in the online account, dated yesterday.

If I open one of these can I do an initial payment of £25 followed by another one of £375 once I’ve seen the first one go in, or am I limited to one payment PCM. Can I also follow up on the 1st of the next month or need to wait a full month? TIA.

SJMALBA

jaypers said:

SJMALBA said:

IanManc said:

schiff said:

Chorley
I have just opened their RS via the link in the recent Bridlington post (TY) referring to it.
I was warned that the first deposit must be made within 15 calendar days of opening - which is shorter than in the link I followed. It could catch people out!

It's worth noting too that the email you get when  you open the account tells you that your bank transfer might take two business days to show on your account. My bank transfer made yesterday afternoon is still not showing in the account tonight so I'm glad Chorley told me in advance!

My payment to Chorley, made yesterday after midnight, was showing this morning in the online account, dated yesterday.

If I open one of these can I do an initial payment of £25 followed by another one of £375 once I’ve seen the first one go in, or am I limited to one payment PCM. Can I also follow up on the 1st of the next month or need to wait a full month? TIA.

Don't know, I'm afraid,  I'm new to Chorley too - I opened on the afternoon of the 2nd, got the email confirming that the account had been added online (they seem to use the same platform as Mon BS) late on that day, so didn't send the deposit until after midnight on the 3rd, got a COP match, so sent the full amount - all is well.