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

friolento

seen a few but can't remember now which ones they were. I have a dim recollectionTesco was one of them.

There are also limitations the other way round: Danske Bank, for instance, does not admit people from England/Wales/Scotland.

OneUser1

Swansea Building Society savings accounts are for Wales residents only. Vernon Building Society are usually locals only but sometimes let anyone in. Cumberland Building Society are usually locals only. It’s annoying when a society offers a good regular saver but won’t let "foreigners" in… But there it is. 

Hattie627

friolento said:

seen a few but can't remember now which ones they were. I have a dim recollectionTesco was one of them.

There are also limitations the other way round: Danske Bank, for instance, does not admit people from England/Wales/Scotland.

I opened my Danske Bank reward current account by phone from mainland UK in July 2018 (before restriction to NI residents came in). I've been earning a nice £36 net per year (£3 net per month) since then for little effort. Keep thinking they will end/reduce the cash reward but it just keeps on going 

Sorry, off topic!

friolento

OneUser1 said:

Swansea Building Society savings accounts are for Wales residents only. Vernon Building Society are usually locals only but sometimes let anyone in. Cumberland Building Society are usually locals only. It’s annoying when a society offers a good regular saver but won’t let "foreigners" in… But there it is. 

That's right, there are many Regular Savers which are only available to people in the local postcode are of the Building Society. Living in the Southwest, I am excluded from most of them as they seem to be mainly be north or east of Watford 

Bigwheels1111

jameseonline said:

kermchem said:

I have a Principality 1 year regular saver bond due to mature tomorrow, and already set up to roll to a new 6 month regular saver (because the online form offered that as an option). This would have been my third issue 3 6 month saver. Presumably tomorrow I am going to get an issue 4. And if I open an issue 4 this afternoon?
I do hope that Principality can cope in 6 months with all those accounts opened on August 28, 29, 30 and 31 maturing on February 28th. 

We don't know if Principality have closed the maturity loophole that permits multiple 6 month from being opened but in theory you might be able to hold multiple issues 4's same as issue 3's etc, but yea apply normally for an issue 4 1st then try maturity options.

If you applied for an Issue 3 via maturity I'm guessing they have to honour it, you'll know more tomorrow I guess, have you tried applying for an issue 4 today?

My third issue 3 opened today, plus an issue 4.

My next one matures on the 30th Sep, so would hope for a second issue 4.

schiff

veggieblob said:

schiff said:

Hattie627 said:

WillPS said:

2 x MonBS Branch Saver applications submitted, in hope. Popped a first class label on in an attempt to get ahead of the masses of Freepost envelopes winging their way to Newport...

Trying to print a copy of the application form via the one link that has been posted so far is beyond my technical capabilities. Do you have a normal straightforward link? I'm not too bothered about getting a first deposit in this month. TIA

Does this work? https://www.monbs.com/media/1478/savings-application-form-savapp-04_19_1.pdf

It does! TYVM

Angelica123

Kim_13 said:

flaneurs_lobster said:

gambleruk said:

This is probably me being simple but with both Principality and Monmouthshire I have set up two different regular savers but when I try to fund the second one through my Natwest account it refers back to my first account as it is in my saved payee's and tells me I have to delete the first one to fund the second one ? Is there a way to have both set up with the different reference numbers ?

With NatWest/RBS - no.

Do you have another current account you can use (if not, why not)?

I use FirstDirect and Chase to fund these multiple same account/different reference savers, I'm sure other accounts allow it too.

Nationwide is the best of them, as they are set up as entirely different payees with the nickname field allowing for easy differentiation between them.

With Chase I’ve ended up with both of two payees (Skipton RS and Skipton MBS) but having to select the payee to see the reference and work out which account it is (once ending in a mistake and the accidental overfunding of the RS and a wait for the payment to be sent back) and also the later account overriding the reference on the first so that it disappears. Still an improvement compared to NatWest through, as Chase are prepared to allow you to enter a different reference without forcing you to delete the whole payee and start again.

You can change the nicknames on Chase. For instance I have renamed my payees as Principality 6 month issue 3 etc., so I don't need to check reference at all. 

WillPS

I can vouch for Chase instant savers as an excellent choice for a feeder. Bit of interest, not fussy about COP mismatches, allows you to rename payees as you please. Supports regular/scheduled payments (incl non-banking days) and even Direct Debits. Solid choice. 

Digital_Payback

Angelica123 said:

Kim_13 said:

flaneurs_lobster said:

gambleruk said:

This is probably me being simple but with both Principality and Monmouthshire I have set up two different regular savers but when I try to fund the second one through my Natwest account it refers back to my first account as it is in my saved payee's and tells me I have to delete the first one to fund the second one ? Is there a way to have both set up with the different reference numbers ?

With NatWest/RBS - no.

Do you have another current account you can use (if not, why not)?

I use FirstDirect and Chase to fund these multiple same account/different reference savers, I'm sure other accounts allow it too.

Nationwide is the best of them, as they are set up as entirely different payees with the nickname field allowing for easy differentiation between them.

With Chase I’ve ended up with both of two payees (Skipton RS and Skipton MBS) but having to select the payee to see the reference and work out which account it is (once ending in a mistake and the accidental overfunding of the RS and a wait for the payment to be sent back) and also the later account overriding the reference on the first so that it disappears. Still an improvement compared to NatWest through, as Chase are prepared to allow you to enter a different reference without forcing you to delete the whole payee and start again.

You can change the nicknames on Chase. For instance I have renamed my payees as Principality 6 month issue 3 etc., so I don't need to check reference at all. 

I’ve done the same for payees with my Starling acc. It’s very convenient for making faster payments at the start of a month. 

mattojgb

Bob2000 said:

Just some opinions, please.
I currently  have three issue 3's of the principality: 6-month regular savers, which all mature over the next three months.
My plan was to transfer all the funds over to my online bonus triple access (issue 7) and then let it sit until it matures. But with the issue 4 6 month RS being released, l'm not so sure now.

My reasons is later in the year/next year use the funds to fund the Monmouthshire app exclusive 7%

Seems only a few weeks ago I was thinking about having to open regular savers paying less than 6%.
Then the Monmouthshire 7% accounts came along. I wasn't expecting that rate to be beaten and was considering opening the branch version as well. Those two accounts would have accounted for most of my spare savings.

Now the new Principality account beats the MonBS rate (and is fixed rather than variable - but only 6 months worth). This will be the first account to be funded. Of course it remains to be seen if maturing Principality RS3 accounts can be converted into RS 4 accounts. If that proves to be the case most of my spare savings will be going there.

It is possible that the MonBS accounts will end up almost like feeder accounts, with money from maturing accounts being paid in there before being paid out to the Principality accounts.