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

jameseonline

tiptoe_mouse said:

jameseonline said:

Anybody got a Newcastle Regular Saver maturing soon?

I got an email recently explaining it will change to an Easy Saver, which is fine but what I don't understand is why the email shows BOTH a monthly rate AND a yearly rate for the account.

I contacted them via Instagram they seem to suggest instructions being given?

Tried contacting them again they now saying they won't talk about account specifics over social media, I'm like I'm not talking about transaction history or anything 😌

Is interest paid monthly? If so, I imagine one (the lower rate) reflects what the interest would be if it's paid into another account (or withdrawn as soon as it's paid) and the other is the interest rate if you leave it to compound.

Here's a much better explanation - scroll down to where it says Where interest is paid monthly:

https://www.moneysavingexpert.com/banking/interest-rates/#AER

My Current Regular Saver pays at the end of 1 year then it gets converted to Easy Saver as I've already said the maturity email gives BOTH a monthly rate AND a yearly rate & I don't understand why.

jameseonline

Ch1ll1Phlakes said:

jameseonline said:

Anybody got a Newcastle Regular Saver maturing soon?

I got an email recently explaining it will change to an Easy Saver, which is fine but what I don't understand is why the email shows BOTH a monthly rate AND a yearly rate for the account.

I contacted them via Instagram they seem to suggest instructions being given?

Tried contacting them again they now saying they won't talk about account specifics over social media, I'm like I'm not talking about transaction history or anything 😌

The Easy Saver that your account is maturing to, does have both monthly and yearly rate for interest as it probably can be opened to have interest paid monthly or yearly.

As a maturity product, they probably are including any account details they feel are relevant and including both interest rates as 1) monthly and yearly interest rates differ (as highlighted by @tiptioe_mouse above), 2) you may be able have the account opened with either type of interest (if you have to provide instructions or 3) you can possibly have the frequency of interest changed by contacting them after maturity.

If you want more specific details from Newcastle BS I would contact them by phone (hopefully quick as Building societies often are compared to the big banks), email or preferably (as you already have an account) by secure message.

Hope this helps

I just find the email confusing & their conversation over IG doesn't help things, they seem to imply I have to give instruction yet I don't remember having done any when I opened the regular saver nor are they willing to help over IG, I don't have that much experience with Newcastle so was reaching out to see if others could understand their ways.

That's the thing though I'm not applying for an Easy Saver off the bat, if I was I'd understand 2 rates being shown, as I'm not I don't, it's a regular morphing into an easy saver so therefore I think it will be paid after a year like the regular, am I right or wrong?.

Nothing seems as clear as it could be via IG and the email, I guess I will have to ring to try to get to the bottom of it.

It's a clarity thing for me, obviously I will be taking most money out and distributing it elsewhere.

Aidanmc

AIB Regular Saver  
Are manual deposits made from AIB current account to AIB Regular Saver on non working day credited (earning interest) same day?
I understand SO's are next working day, just wondering if manual deposits may be different.

s71hj

Can an extra payment be sneaked in for the Principality RS 4 I have matured into today or will it be strictly 11 more payments? 

Aidanmc

s71hj said:

Can an extra payment be sneaked in for the Principality RS 4 I have matured into today or will it be strictly 11 more payments? 

5 more deposits i believe, 6 month account max balance £1200

janusd

s71hj said:

Can an extra payment be sneaked in for the Principality RS 4 I have matured into today or will it be strictly 11 more payments? 

5 more payments as it's only a 6-Month RS - if you were tempted to throw in a 7th deposit, i'd be more inclined to try it in April (assuming month of maturity) than this month (as doing it this month should cause a rejection and deposit returned) - it probably would be in April too, though i've had a 13th payment accepted into one of their 12-Month RS before...

SJMALBA

s71hj said:

Can an extra payment be sneaked in for the Principality RS 4 I have matured into today or will it be strictly 11 more payments? 

If you mean the 6m RS4, you'll be going some to get another 11 payments in... 

I've accidentally made an extra deposit on 2 occasions to PBS RSs (genuine errors on my part), and they weren't returned - I've not subsequently done any deliberate extra payments, though, as I don't want to potentially antagonise them, or draw attention, given the 'rolling maturities' of 6M RSs. YMMV.

refluxer

Thanks to everyone who took the time to reply to my query about opening the Hanley Eco BS 1 Year Online Smart Saver (TAR10) as an existing customer but one without an active account.

I applied as a new customer but included a previous account number on the online form as suggested and a reply to a secure message I'd sent in the meantime stated that my details would be matched up once they had processed the application and opened the account, so the account will hopefully appear soon.

jameseonline

nigelholl2 said:

kermchem 

The terms and conditions of Principality 6 month bond issue 4 say that you can only hold one account of this issue, so, no this is not the correct route to gain a 6 month account. There is no “correct” way to get an extra 6 month account, because an extra account is not correct. 

But several forumites have reported that they have submitted maturity requests for Christmas 2025 savers to mature into 6 month issue 4 accounts. 6 month issue 3 accounts have matured into extra 6 month accounts, and the 12 month saver bonds have also. 

Sometimes it does not work and the reasons may be where the remaining cash is being sent to a Principality easy access account, which might require human intervention in Cardiff and the breach of t&c being noticed. 

Apologises, I didn't make my query clear
I under stand what the T&C's state, but from what has been posted this is not enforced, as of yet
However, where people have been successful, have they
1. Rolled over a maturing account into a new RS, then open the new RS same Issue
2. Opened a new RS Issue and then sent maturity instruction to rollover to new issue RS
I do have green t-shirt if that helps
Again all your thought's would be appreciated

You open a regular saver to start with, so whatever issue of the 6 month we are upto now, think it's 4, in 6 months you might be able to change that account into another issue 4 or an issue 5 or whatever, if an issue 5 comes along before your issue 4 ends grab the issue 5 1st, that way you might end up with 2 issue 5's, because 1 will be a fresh account through application page and the other will be your matured & converted issue 4.

jameseonline

s71hj said:

NOT RS related (unless we include feeder accounts which is a debate we could have) 
Topcashback are offering £25 for the
Cahoot simple saver and sunny day saver.
Tin hat on....

As long as people don't drag this off topic on in this thread 😏