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

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Principality 6 month

The extra interest on a 7th payment gives an additional interest equal to a maximum of £1.21 on 30 days, or just under £1 after 20% tax.

Allowing for less period, mine matures on 21st, and that I have to take the £200 from cahoot at 5% interest. The benefit that I would gain would be only 27p gross or 22p after basic rate tax (£200 @ 2.36% annual for 21 days)  As some have already commented, the reward is too small for the risk.

Chaykin

I found that Principality BS does not enforce their maximum balance rule. Never had an issue with 7th or 13th payments. Skipton BS however do enforce as I remember once having 13th payment returned. Any other examples of (not)enforcing maximum balance?

WillPS

Chaykin said:

I found that Principality BS does not enforce their maximum balance rule. Never had an issue with 7th or 13th payments. Skipton BS however do enforce as I remember once having 13th payment returned. Any other examples of (not)enforcing maximum balance?

MonBS do enforce it, including a couple of years ago with an account that had no stated maximum balance/number of deposits (they eventually increased the threshold due to complaints).

where_are_we

PowerSavingMode said:

StevieR said:

My Chorley Regular Saver 30/11/25 has matured and £400 of it has rolled over into a new Regular Saver 30/11/26

Chorley Regular Saver 

Was that automatic rollover, and at the same interest rate, or as a result of your maturity instructions?

Chorley Seasonal Saver 30/11/25 which is very similar to their RS 30/11/25 - My OH did maturity instructions on SS, £400 rolled over to new SS with same account details payment dated 30/11/25 which means 12 further payments can be made starting today resulting in a total of 13 payments with a £5200 maturity balance. My OH has a low income and benefits from most of the £5000 0% starting savings allowance making this 5.15% account just about worthwhile having already filled up the better paying RS`s.
However (being a 20% tax payer) the lowish 5.15% interest rate means I have decided to dip my toes in the water with a £25 opening deposit into a new SS with no further funding.
It is slightly annoying that Chorley use BACS for their payouts (not Faster Payments) which can take 3 days.

Archerychick

jameseonline said:

Born2Save_3 said:

jameseonline said:

Things seem ok with my Principality accounts, can't fund 2 of them though as already maxed out which does mean of course we get to play the can we get another issue 4 game TWICE this month 😁.

I've always been able to deposit a 13th/7th full payment; no issues. Or have I misunderstood you ?

The max limit per 6 month account is £1200, if you been able to fund more you've been lucky not to have overpayment returned 

I accidentally funded mine maturing late December, now has a balance of £1400. Had expected it to be returned 

allegro120

WillPS said:

Chaykin said:

I found that Principality BS does not enforce their maximum balance rule. Never had an issue with 7th or 13th payments. Skipton BS however do enforce as I remember once having 13th payment returned. Any other examples of (not)enforcing maximum balance?

MonBS do enforce it, including a couple of years ago with an account that had no stated maximum balance/number of deposits (they eventually increased the threshold due to complaints).

There was a similar story with Gatehouse.  No maximum balance stated in t&c, but they returned 13th payments.

surreysaver

Another couple of Regular Savers opened and another couple of passbooks to add to the collection...

Yarrows

Chaykin said:

I found that Principality BS does not enforce their maximum balance rule. Never had an issue with 7th or 13th payments. Skipton BS however do enforce as I remember once having 13th payment returned. Any other examples of (not)enforcing maximum balance?

Principality certainly did enforce it for my most recently maturing 6 month RS - I left the standing order running but the last payment which would have taken it to £1400 was returned a few days later. And I have played by the rules with regards to numbers of each type of account, even! 

I'll still leave the standing order running at the end of this one because it's a faff to stop and start it when I could just leave it running with no end date because the account number doesn't change.

s71hj

flaneurs_lobster said:

masonic said:

jameseonline said:

jd84 said:

Principality 

I made a 7th payment into an Issue 3 this morning and it's showing a £1400 balance, so I can confirm that works.
The extra £200 will be kept in the account when it matures to an issue 4 later this month.

Santander 

Someone mentioned paying in more than £200 recently, I have also tested and not had the overpayment returned. Maybe they won't pay interest on the extra.

It may work initially but I'm sure people have said before they've had it returned before.

So far, I've got away with this. It's one less thing to keep track of (remembering not to fund in the final calendar month), so I'm happy for them to return the overpayment if they want to.

It's not so much the risk of an overpayment being returned that stops me making that 7th payment, it's the consequential attention then paid to the other savers....

I have said previously, albeit  metaphorically speaking that I almost cross the road when walking past a Principality branch for fear of drawing attention to myself and therefore to my multiple one issue only accounts

Dizzycap

SCC2 said:

Anyone having issues with Monmouth app? I’m on IOS but just sticks at ‘getting things ready’

Stephen 

Try deleting the app & reinstalling. I've found that I have to do this at least once each month and it's usually after funds have gone into my RS and totals are updated overnight.