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

dcs34

Monmouthshire BS Extra Accounts in App / Opening
Based on the differing experiences, my theory is that if you fund it within the maximum timescale from "application"/"opening"/the account appearing in the app, then you can operate it as an extra account with further monthly deposits; if you fail to fund it within the initial period then it effectively locks up and won't accept any deposits.

Bridlington1

dcs34 said:

Monmouthshire BS Extra Accounts in App / Opening
Is it an issue where if you fund it within 30 days of it 'appearing' then you can operate it as an extra account; if you fail to fund it within the initial period then it effectively locks up and won't accept deposits?

It seems to be the case with mine.

I've got a few phantom accounts, one is a Limited Access Saver Issue 1 that I never funded which still shows as 4.45% despite the rate dropping a fair bit since then. I've managed to add this account to online banking but my other ``phantom" accounts showed as pending in online banking for a few days before disappearing (but remaining in the app).

The other two accounts were accounts whose details MBS accidentally sent to the wrong person when I opened them in 2023 so was closed by them and new account numbers issued.

35har1old

allegro120 said:

RosieRooBear said:

Monmouthshire R/S 8
Finally managed to get access to husband’s app by using daughter’s mobile number. Noticed that he has two R/S’s Issue 8 although currently only one funded. Has anyone else who ended up with two issue 8’s opened funded both and not had their payments returned?

I ended up with two.  One is is working fine, the other one doesn't accept funds.  I've tried three times, all 3 deposits were returned next day.  The account is clearly not working, but it is still showing on my app.

Was the second account applied for online and if so did you receive the signatory form and return it

allegro120

35har1old said:

allegro120 said:

RosieRooBear said:

Monmouthshire R/S 8
Finally managed to get access to husband’s app by using daughter’s mobile number. Noticed that he has two R/S’s Issue 8 although currently only one funded. Has anyone else who ended up with two issue 8’s opened funded both and not had their payments returned?

I ended up with two.  One is is working fine, the other one doesn't accept funds.  I've tried three times, all 3 deposits were returned next day.  The account is clearly not working, but it is still showing on my app.

Was the second account applied for online and if so did you receive the signatory form and return it

Yes it was.  I've never received the signatory form.  I was surprised that they have opened the account without this form.

cheekyweegit

Well just after midnight checked my Principality account, it's matured as requested into a 2nd regular saver issue 4, just waiting on the balance being paid into my nominated account.

I've another maturing next month so will see what happens with that and another in December so could be interesting.

Huge thanks to everyone who posts here especially Bridlington.  I've learned and am learning so much.....

jameseonline

s71hj said:

flaneurs_lobster said:

jameseonline said:

I'm surprised anyone bothers with the standard tbh, I've only really been bothering with the Club up until recently but I think I'll be emptying it gradually and having it as a backup/overflow account.

I guess if you have all the other decent regulars, but otherwise many may more than 5.25%.

Ive been paying in £2000 a month and £400 of which has been going to the 6.25% Club Lloyds (£1600 straight back out) , but you have both Nationwide and Virgin doing 6.5% these days & Monmouthshire with 6% & 7% accounts and high monthly deposit limits. 

TBH I've stopped funding anything less than 6% a month ago, I've simply run out of available funds.

The Monmouthshire ones rather changed everything 

Yup makes even less sense for me to be chained up to a First Direct or something, for now anyways.

Everything I fund I can pretty much access whenever I want wether that's by emptying gradually or closing without penalties.

clairec666

jameseonline said:

s71hj said:

flaneurs_lobster said:

jameseonline said:

I'm surprised anyone bothers with the standard tbh, I've only really been bothering with the Club up until recently but I think I'll be emptying it gradually and having it as a backup/overflow account.

I guess if you have all the other decent regulars, but otherwise many may more than 5.25%.

Ive been paying in £2000 a month and £400 of which has been going to the 6.25% Club Lloyds (£1600 straight back out) , but you have both Nationwide and Virgin doing 6.5% these days & Monmouthshire with 6% & 7% accounts and high monthly deposit limits. 

TBH I've stopped funding anything less than 6% a month ago, I've simply run out of available funds.

The Monmouthshire ones rather changed everything 

Yup makes even less sense for me to be chained up to a First Direct or something, for now anyways.

Everything I fund I can pretty much access whenever I want wether that's by emptying gradually or closing without penalties.

The plus side for First Direct is that it's fixed rate, so is very good if you don't mind your money being tied up until the maturity date.

Monmouthshire have essentially created an easy access account with 7% interest which you don't have to use like a regular saver at all, because of the high deposit limit I'm just putting in anything I can each month. But being mindful of the fact that it will mature next July so I'll have a big lump sum which needs a new home. Also it allows unlimited withdrawals but I haven't tested it to see how quick they pay out. Still, a 7% home for my spare cash, can't really complain.

cheekyweegit said:

Well just after midnight checked my Principality account, it's matured as requested into a 2nd regular saver issue 4, just waiting on the balance being paid into my nominated account.

I've another maturing next month so will see what happens with that and another in December so could be interesting.

Huge thanks to everyone who posts here especially Bridlington.  I've learned and am learning so much.....

Mine has also matured into an issue 4, has kept the same account number, and retained £200.

The excess money should have landed in my Natwest current account, but as of 7.30 hasn't arrived. So my lovely spreadsheet is in limbo at the moment, it looks like I'm £1000 down on yesterday!

jaypers

Monmouthshire - Opened a RS yesterday as a new customer. All went smoothly and everything, including the nominated account, seemed to be approved online. Logged into app ok and did a test payment from Barclays of £5. Still not showing today……Are MonBS a bit like Furness whereby they only process next working day? 

Bridlington1

jaypers said:

Monmouthshire - Opened a RS yesterday as a new customer. All went smoothly and everything, including the nominated account, seemed to be approved online. Logged into app ok and did a test payment from Barclays of £5. Still not showing today……Are MonBS a bit like Furness whereby they only process next working day? 

Deposits are treated as having been received the next working day for interest purposes. MBS's deposits take a while to show up regardless of whether it's a working day or not though but are usually backdated to the date it was sent so I wouldn't worry if a payment sent yesterday hasn't arrived yet.

Hal17

Clairec666 add a Pending Receipt cell to your spreadsheet.