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

Slinky

Slightly off topic, we tried opening a NatWest ISA for OH yesterday, which although it has issued an account number, hasn't appeared on his account list. Annoyingly I transferred £5K to our joint account yesterday in anticipation of moving it into the ISA. He has a Regular Saver with them which I previously emptied as he's nearing his £500 PSA, so I've just moved the £5K into the RS to see what would happen, and it's accepted the transfer. Will they bounce this back to the joint account I wonder or leave it?

clairec666

Slinky said:

Slightly off topic, we tried opening a NatWest ISA for OH yesterday, which although it has issued an account number, hasn't appeared on his account list. Annoyingly I transferred £5K to our joint account yesterday in anticipation of moving it into the ISA. He has a Regular Saver with them which I previously emptied as he's nearing his £500 PSA, so I've just moved the £5K into the RS to see what would happen, and it's accepted the transfer. Will they bounce this back to the joint account I wonder or leave it?

I've been able to withdraw large sums from the Natwest regular saver and return them before the end of the month - sometimes up to £2000. It's never been bounced back. It's always been within the same calendar month, and I've never put in more than I've taken out. I recall other people saying they've been able to do the same.

How long ago did you empty the regular saver? Given that we're near the start of the month, I'm assuming that you're not returning the money within the same month.

exel1966

Slinky said:

Slightly off topic, we tried opening a NatWest ISA for OH yesterday, which although it has issued an account number, hasn't appeared on his account list. Annoyingly I transferred £5K to our joint account yesterday in anticipation of moving it into the ISA. He has a Regular Saver with them which I previously emptied as he's nearing his £500 PSA, so I've just moved the £5K into the RS to see what would happen, and it's accepted the transfer. Will they bounce this back to the joint account I wonder or leave it?

Don't understand why you would think it would bounce back ? You made a transfer to your RS, but it won't be dated until tomorrow and won't accrue any interest so you could move it back to the joint or just move it to the ISA now as you have the a/c details which won't show in the app til tomorrow or Tues. 

Slinky

clairec666 said:

Slinky said:

Slightly off topic, we tried opening a NatWest ISA for OH yesterday, which although it has issued an account number, hasn't appeared on his account list. Annoyingly I transferred £5K to our joint account yesterday in anticipation of moving it into the ISA. He has a Regular Saver with them which I previously emptied as he's nearing his £500 PSA, so I've just moved the £5K into the RS to see what would happen, and it's accepted the transfer. Will they bounce this back to the joint account I wonder or leave it?

I've been able to withdraw large sums from the Natwest regular saver and return them before the end of the month - sometimes up to £2000. It's never been bounced back. It's always been within the same calendar month, and I've never put in more than I've taken out. I recall other people saying they've been able to do the same.

How long ago did you empty the regular saver? Given that we're near the start of the month, I'm assuming that you're not returning the money within the same month.

I emptied it a few weeks back

Slinky

exel1966 said:

Slinky said:

Slightly off topic, we tried opening a NatWest ISA for OH yesterday, which although it has issued an account number, hasn't appeared on his account list. Annoyingly I transferred £5K to our joint account yesterday in anticipation of moving it into the ISA. He has a Regular Saver with them which I previously emptied as he's nearing his £500 PSA, so I've just moved the £5K into the RS to see what would happen, and it's accepted the transfer. Will they bounce this back to the joint account I wonder or leave it?

Don't understand why you would think it would bounce back ? You made a transfer to your RS, but it won't be dated until tomorrow and won't accrue any interest so you could move it back to the joint or just move it to the ISA now as you have the a/c details which won't show in the app til tomorrow or Tues. 

The reason it might bounce is it's £5K, not the maximum £150 per month per the account.

Can't do a direct transfer to the ISA as it's not showing as an available account within the App or online. I suppose I could do a transfer from a different bank and ignore the COP issues if they show.

granta

Scottish Building Society

When I called on Friday to request a paper form, I was told that they are hoping to make the regular saver available to open online in a few weeks. I'm not planning to wait until but some people might prefer to.

Bobblehat

granta said:

Scottish Building Society

When I called on Friday to request a paper form, I was told that they are hoping to make the regular saver available to open online in a few weeks. I'm not planning to wait until but some people might prefer to.

That would be perfect  ... thanks for the heads up!

exel1966

Slinky said:

exel1966 said:

Slinky said:

Slightly off topic, we tried opening a NatWest ISA for OH yesterday, which although it has issued an account number, hasn't appeared on his account list. Annoyingly I transferred £5K to our joint account yesterday in anticipation of moving it into the ISA. He has a Regular Saver with them which I previously emptied as he's nearing his £500 PSA, so I've just moved the £5K into the RS to see what would happen, and it's accepted the transfer. Will they bounce this back to the joint account I wonder or leave it?

Don't understand why you would think it would bounce back ? You made a transfer to your RS, but it won't be dated until tomorrow and won't accrue any interest so you could move it back to the joint or just move it to the ISA now as you have the a/c details which won't show in the app til tomorrow or Tues. 

The reason it might bounce is it's £5K, not the maximum £150 per month per the account.

Can't do a direct transfer to the ISA as it's not showing as an available account within the App or online. I suppose I could do a transfer from a different bank and ignore the COP issues if they show.

I personally haven't but others have reported withdrawing funds from the RS and then replacing or topping up with more than £150pm. I suppose you're in the lap of the gods as to whether it gets picked up or not.

Just set it up as a new payee and do the payment to the ISA that way rather than using the unavailable quicker way?

flaneurs_lobster

exel1966 said:

Slinky said:

exel1966 said:

Slinky said:

Slightly off topic, we tried opening a NatWest ISA for OH yesterday, which although it has issued an account number, hasn't appeared on his account list. Annoyingly I transferred £5K to our joint account yesterday in anticipation of moving it into the ISA. He has a Regular Saver with them which I previously emptied as he's nearing his £500 PSA, so I've just moved the £5K into the RS to see what would happen, and it's accepted the transfer. Will they bounce this back to the joint account I wonder or leave it?

Don't understand why you would think it would bounce back ? You made a transfer to your RS, but it won't be dated until tomorrow and won't accrue any interest so you could move it back to the joint or just move it to the ISA now as you have the a/c details which won't show in the app til tomorrow or Tues. 

The reason it might bounce is it's £5K, not the maximum £150 per month per the account.

Can't do a direct transfer to the ISA as it's not showing as an available account within the App or online. I suppose I could do a transfer from a different bank and ignore the COP issues if they show.

I personally haven't but others have reported withdrawing funds from the RS and then replacing or topping up with more than £150pm. I suppose you're in the lap of the gods as to whether it gets picked up or not.

Just set it up as a new payee and do the payment to the ISA that way rather than using the unavailable quicker way?

I moved >£3k out of the RBS RS in Sep but moved it all back again before month-end. What I haven't done is try to replace "borrowed" funds in a new month.

happybagger

granta said:

Scottish Building Society

When I called on Friday to request a paper form, I was told that they are hoping to make the regular saver available to open online in a few weeks. I'm not planning to wait until but some people might prefer to.

I guessed as much from the wording used on their website.
It's also possible, if/when they do an online version, that they will allow both to be opened.