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

OrangeBlueGreen

allegro120 said:

What_time_is_it said:

Ed-1 said:

What_time_is_it said:

Monmouthshire Regular Saver (issue 8) - duplicate account

Hi there. I opened the above account at 6%, and subsequently opened both the branch and app exclusive accounts at 7%. So far so good, and all happy… However, when I opened the Regular Saver they accidently opened 2 accounts of the same type and issue. I asked about this at the time and they said they would just close the one that I don’t fund. But they haven’t! 

So my question is, should I start sticking £500 a month into this “duplicate” account and see what happens? Or is that a bit risky? 

What do you think?

You have to fund the account within 30 days of opening, otherwise it automatically deactivates.

That’s a good point. It opened in August, so well past 30 days. But it is still showing as active in my app. 

Monmouthshire Regular Saver (issue 8) - duplicate account
I've attempted to fund it 3 times, every time the funds were returned the next day.  The account was showing in my app for about a month and then disappeared.  

That’s what they told me “duplicates and closed accounr will drop off the app after 31 days”

Bob2000

clairec666 said:

Bob2000 said:

Principality BS  6 month RS  maturity  saga.

I've been reading the last days the ongoing saga of  how to get multiple  same issues of the 6 month RS.

I myself could potentially gain three issues. 4. But decided to close the RSs and send funds back to a nominated account instead.
The reason being, to fund both of my monmouthshire  6 and 7% RSs.

So if my funds are limited, am l being sensible?

Well, personally, I would have stuck with Principality as it pays a higher interest rate, plus the rate is fixed.

Or you could keep Monmouthshire and Principality, but not fully fund them each month.

Depends whether you like the simplicity of having all your savings in the same place or if you'd spread it around for the sake of a little bit more interest. Both approaches are fine, it's down to personal choice.

If you factor in the time taken reading through this thread to deduce the best Principality strategy, plus ironing your best green shirt, the higher interest rate might not be worth it 

Yes, I definitely find it personally better, having all my funds in one place and that,  and the large  amount (for me) you can deposit attractive.

No green shirt for me, just my socks and pants!

where_are_we

Principality - I have a RS35 maturing soon. What are the chances of one of the maturity options being a 6 Month RS4?

thefrank

SORRY, BUT ...
Hundreds of posts on Principality and then you do the math. 26 pounds interests in 6 months, that means 52 in a year opening again the same account. If I deposit the same amount of money in a Lloyds 6.25% (£400 every month for the first 3 months equal 1200) I got 70 pounds in interests at the end of the same year (£20 more than Principality) keeping 'invested' the same amount of money. So, what ? I will go for a 12 months Rs all my life, not to mention higher Rs paying more than Lloyds ...
Where and how am I wrong?

CricketLady

Hello Francoghezzi,

No need to apologise and I'm sure lots more savvy members will have better answers but in my case, I don't pay tax on my hard earned cash as I'm taking a break from work so rather than have any of my cash sitting at 5% Cahoot I'd much rather have as many accounts paying 6% upwards no matter what the time frame.  If I could have another 6.25% regular saver with Lloyds I would, I'd have 5 if they'd let me, but they only let you have one.  And I have all of the others (I currently feed 52 with about £10k per month, a mix of new cash as my husband is a higher earner and recycled funds) but again, others on here will probably have more than 52!

Have a lovely day xx

Hattie627

francoghezzi said:

Where and how am I wrong?

It's not either/or. It's both/and

Hattie627

where_are_we said:

Principality - I have a RS35 maturing soon. What are the chances of one of the maturity options being a 6 Month RS4?

Pretty good chances, I'd say. Check out 14 days before your RS35 matures. Your maturity options should be showing under your RS35 account then.  You will find the 6 month RS4 as a rollover option. Make sure you have a green shirt on when selecting.

thefrank

CricketLady said:

Hello Francoghezzi,

No need to apologise and I'm sure lots more savvy members will have better answers but in my case, I don't pay tax on my hard earned cash as I'm taking a break from work so rather than have any of my cash sitting at 5% Cahoot I'd much rather have as many accounts paying 6% upwards no matter what the time frame.  If I could have another 6.25% regular saver with Lloyds I would, I'd have 5 if they'd let me, but they only let you have one.  And I have all of the others (I currently feed 52 with about £10k per month, a mix of new cash as my husband is a higher earner and recycled funds) but again, others on here will probably have more than 52!

Have a lovely day xx

But 1200 kept at 5% on Cahoot will give you more interests in a year than 2 Principality rs ... almost £10 more (it's £60 interest with Cahoot against £52 from Principality). Even deposited in a 5.25% Rs those money would earn more interests in 12 months time

subjecttocontract

We are all different, nobody is right or wrong, we just have different opinions. It is only £26 interest and that doesnt excite me as much as others. As I already have PBS accounts taking out another is very easy but I agree it didn't warrant 100s of pages.

CricketLady

francoghezzi said:

CricketLady said:

Hello Francoghezzi,

No need to apologise and I'm sure lots more savvy members will have better answers but in my case, I don't pay tax on my hard earned cash as I'm taking a break from work so rather than have any of my cash sitting at 5% Cahoot I'd much rather have as many accounts paying 6% upwards no matter what the time frame.  If I could have another 6.25% regular saver with Lloyds I would, I'd have 5 if they'd let me, but they only let you have one.  And I have all of the others (I currently feed 52 with about £10k per month, a mix of new cash as my husband is a higher earner and recycled funds) but again, others on here will probably have more than 52!

Have a lovely day xx

But 1200 kept at 5% on Cahoot will give you more interests in a year than 2 Principality rs ... almost £10 more (it's £60 interest with Cahoot against £52 from Principality). Even deposited in a 5.25% Rs those money would earn more interests in 12 months time

My two Cahoots are already full (£3000 in each)

Also, when I need to find a home for my matured funds AND the excess from Mr Cricket's salary (this month I need to find somewhere for £19k for example) well.... it has to go somewhere!  xxx