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

masonic

Scottish BS

Pleasantly surprised to receive my welcome pack today (original application sent off on 23rd), passbook shows the opening deposit by cheque was credited on 29th.

jameseonline

Funded most of my eligible regular savers today 

Funded from my Virgin:
CO OP

Funded from my Club Lloyds:
Market Harborough 
Principality 6 months (X3)
Saffron Members Month 

Not funded Virgin due to lack of spare funds, not sure if I will fund it again yet, I've still got Monmouthshire at 7% (which I've only funded twice at £1000, Aug & Sept due to concentrating on above) I could be funding for example, think Virgin is going to be my top overflow account, then possibly get a Nationwide, possibly get the new principality Xmas Saver & use Club Lloyds again.

Due maturing funds from Principality on 6th November, all being well the Xmas will convert to another 6 month with £200 already in so don't need to manually fund that until the following month.

Due maturing funds from Principality and Market Harborough on 30th November, will need to give Principality instructions for another 6 month if possible, if that goes well it will be another £200 I won't need to manually fund for a month.

Then December I have another 6 month maturing on 10th & another on 28th😁😏, then nothing till 28th Feb 😌

Just have to see what happens I guess, something new could come along, plus there's things I want/need to buy.

happybagger

Surprised not had Stafford (Railway) BS RS interest today, due 31 Oct. They had a banner on their website yesterday saying it "would be credited at midnight and viewable on 1st Nov"

clairec666

Monmouthshire - just wondering if I've interpreted this correctly? 



So if I paid in by faster payment on a Friday, it wouldn't be received (and therefore earning interest) until Monday? Or even Tuesday if the Monday is a bank holiday?

If so, best to avoid funding on a Friday, to minimise loss of interest.

jaypers

clairec666 said:

Monmouthshire - just wondering if I've interpreted this correctly? 



So if I paid in by faster payment on a Friday, it wouldn't be received (and therefore earning interest) until Monday? Or even Tuesday if the Monday is a bank holiday?

If so, best to avoid funding on a Friday, to minimise loss of interest.

I’ve found that you won’t see it until next working day but the ‘posting date’ will be the day you pay it, regardless of weekend or weekday so all should be good. 

clairec666

jaypers said:

clairec666 said:

Monmouthshire - just wondering if I've interpreted this correctly? 



So if I paid in by faster payment on a Friday, it wouldn't be received (and therefore earning interest) until Monday? Or even Tuesday if the Monday is a bank holiday?

If so, best to avoid funding on a Friday, to minimise loss of interest.

I’ve found that you won’t see it until next working day but the ‘posting date’ will be the day you pay it, regardless of weekend or weekday so all should be good. 

Ah. I wonder whether it will earn interest from the 'posting date'? The T&Cs say "As soon as we receive the money, the amount you deposit through an electronic payment will start to earn interest"

I know I said a couple of pages back that I can't be bothered messing around with days for the sake of a tiny bit of interest, but as I'm depositing £1500 I reckon it's worth the effort!

david72

If you have an existing Coventry Loyalty Seasonal Saver account (NLA), withdrawals are now penalty-free from today (prior to today any withdrawals would have cost you 30 calendar days interest on the amount withdrawn).

https://web.archive.org/web/20250115162036/https://www.coventrybuildingsociety.co.uk/member/product/savings/regular_saver/loyalty-seasonal-saver.html

As the interest rate of this account is no longer particularly competitive (down to 5.25% AER), keen regular savers may wish to start using this account to trickle feed into better paying regular saver accounts from now.

SJMALBA

jaypers said:

clairec666 said:

Monmouthshire - just wondering if I've interpreted this correctly? 



So if I paid in by faster payment on a Friday, it wouldn't be received (and therefore earning interest) until Monday? Or even Tuesday if the Monday is a bank holiday?

If so, best to avoid funding on a Friday, to minimise loss of interest.

I’ve found that you won’t see it until next working day but the ‘posting date’ will be the day you pay it, regardless of weekend or weekday so all should be good. 

It shows as the date sent, but according to page 1 of this thread:

'Deposits on non-working days: Treated as having been received the next working day.'

SJMALBA

SJMALBA said:

Hanley - will a debit card payment be credited/earn interest today, or should I leave it until Monday?

Decided to give it a go - instantly appears in the account, but I'll see tomorrow if the extra accrued interest is on the basis of a £300 or £600 balance...

where_are_we

We use SO`s to fund our many RS`s because of ease and simplicity over manual payments. Since the rise of EA interest rates we do not fund hub current account until the actual day SO`s go out. We are well into 5 figures for Monday`s deposit and I calculate we avoid losing interest of about £2 a day gained in 5% EA accounts. Because Monday is the first working day of November the gain over a weekend is greater.
On Monday we will get an early morning text explaining lack of funds and then we transfer the fund to cover all payments.
Hopefully their are no ramifications from the bank concerning this procedure.