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

mebu60

I've only checked back three pages which are all MONBS so apols if this has already been covered.

Principality 6 Month RS Iss 2, mine matures 3/9. Also have EA Iss 7, Christmas RS and 6 Month RS Iss 3.

Maturity option selected to convert the RS Iss 2 into (another) RS Iss 3 at 7.5% AER fixed and pay in £200 on 3/9. Balance of £1k + interest selected pay into different Principality account, dropdown only offered existing RS Iss 3! I selected that in order to progress but clearly not possible as limited to £200 pcm (and that will have gone in on 1/9). Have sent secure message requesting change destination of mat balance to EA.

Anyone else had this anomaly? 

infoadict

I know the terms and conditions for the Monsbs App Reg Saver say you had to have been a member on 20/8/2025. However my wife wasn't and today she just applied for the Reg Saver Issue 8 @ 6%. Once approved she tongue in cheek the applied for the App reg Saver at 7% and was similarly approved. Both are showing showing in the app.

jameseonline

clairec666 said:

jameseonline said:
I don't fund regular saver accounts with a pathetic £1 & leave them alone, if I get a regular saver I fully fund EVERY month, then close if I need to free up funds.

Might be worth changing your stance about fully funding. If you can't put the full £1000 into the new Monmouthshire, it's still worth putting in, say, £200 per month. And at a higher rate than Nationwide for example.
I doubt I'll be able to put in £1000 most months, even with dropping lower rate accounts, so I'll start with £100 this month and only add more if it's not too much hassle.

I think you might have missed the fact I don't currently have funds to replace the Nationwide Regular that I'm currently closing early to fund others next month, Monmouthshire have now launched new accounts which has now shaken up the regular saver game on top of what I planned to do, I believe it's £500 per month for app version & £500 for branch version not £1000 per month for a single account?

wmb194

jameseonline said:

clairec666 said:

jameseonline said:
I don't fund regular saver accounts with a pathetic £1 & leave them alone, if I get a regular saver I fully fund EVERY month, then close if I need to free up funds.

Might be worth changing your stance about fully funding. If you can't put the full £1000 into the new Monmouthshire, it's still worth putting in, say, £200 per month. And at a higher rate than Nationwide for example.
I doubt I'll be able to put in £1000 most months, even with dropping lower rate accounts, so I'll start with £100 this month and only add more if it's not too much hassle.

I think you might have missed the fact I don't currently have funds to replace the Nationwide Regular that I'm currently closing early to fund others next month, Monmouthshire have now launched new accounts which has now shaken up the regular saver game on top of what I planned to do, I believe it's £500 per month for app version & £500 for branch version not £1000 per month for a single account?

Mon BS Exc RS - 7%
 
No, £1,000pm for the app version. 

https://www.monbs.com/savings/app-exclusive-regular-saver/

s71hj

Is anyone who accidentally ended up with x2 Monmouthshire app regular saver accounts planning on having a go at funding both? 

Ed-1

infoadict said:

I know the terms and conditions for the Monsbs App Reg Saver say you had to have been a member on 20/8/2025. However my wife wasn't and today she just applied for the Reg Saver Issue 8 @ 6%. Once approved she tongue in cheek the applied for the App reg Saver at 7% and was similarly approved. Both are showing showing in the app.

To be a member you just had to have held an account before with them by 20/08/25, even if it had since been closed.

Section62

jameseonline said:

clairec666 said:

jameseonline said:
I don't fund regular saver accounts with a pathetic £1 & leave them alone, if I get a regular saver I fully fund EVERY month, then close if I need to free up funds.

Might be worth changing your stance about fully funding. If you can't put the full £1000 into the new Monmouthshire, it's still worth putting in, say, £200 per month. And at a higher rate than Nationwide for example.
I doubt I'll be able to put in £1000 most months, even with dropping lower rate accounts, so I'll start with £100 this month and only add more if it's not too much hassle.

I think you might have missed the fact I don't currently have funds to replace the Nationwide Regular that I'm currently closing early to fund others next month, Monmouthshire have now launched new accounts which has now shaken up the regular saver game on top of what I planned to do, I believe it's £500 per month for app version & £500 for branch version not £1000 per month for a single account?

We get the point you don't have the money to fully fund the accounts.

But you seem to be missing the point that you don't have to fully fund them.

There's nothing 'pathetic' about opening a high interest RS account and putting £1 in it, if it means you have one of those accounts opened and available for funding if circumstances change.  The best overall strategy is typically trying to fund those accounts paying the higher rates, even if only partially funded, rather than trying to full fund an account with a lower interest rate.

The £1000 pay-in for the new MonBS @7% means it would be better paying the £250 you would otherwise put in the VM RS into the MonBS account, even though you wouldn't (currently) be able to fully fund it each month.  Avoiding the MonBS account because you don't have £1000 this month would probably be an error.

Which accounts you open and how much you fund each one by is obviously up to you.  We're just trying to explain - in the spirit of MSE - that the strategy you've adopted isn't the one which is likely to get you the best overall return.  And even if you aren't interested, hopefully other people reading the thread won't go away from it in the mistaken belief that only opening accounts you can full fund is any kind of requirement.

surreysaver

Not paying into a high interest regular saver because you cannot fully fund it is like saying you're not going to put any money into an ISA because you cannot afford the full year's £20k allowance (even though funding regular savers is likely to be more beneficial than funding ISAs)

Bobblehat

s71hj said:

Is anyone who accidentally ended up with x2 Monmouthshire app regular saver accounts planning on having a go at funding both? 

Not me! Seen too many get themselves in knots with such shenanigans! 

RosieRooBear

MONBS 7% RS
Phoned CS today, spoke to Charli who was extremely helpful. My account is working good but unable to access my hubby’s app & whatever we tried couldn’t get it to work, so has been sent to the digital team to resolve. However what she did do was open the 7% RS over the phone for my hubby as she said it’s not his fault he couldn’t open it in the app. If anyone else is still experiencing difficulty in accessing the app, give them a call and you can open it over the phone. App might be buggy but can’t fault the CS, especially Charli 😁