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

Kim_13

MrWannabe said:

Hoping that the RS experts on here can help/advise?  I opened the Principality ‘6 Month Regular Saver’ late August (it is due to mature in Feb).  Would I be able to open the Principality ‘Christmas 2026 Regular Saver’ now, or would I not eligible (because I already have an active Regular Saver with Principality)?

You're allowed one RS of each Issue, so a 6 Month Issue 4 and a Christmas RS are within the terms. You'll also be allowed a 6 Month Issue 5 alongside your Issue 4 if one appears.

Dizzycap

Digital_Payback said:

Principality
I submitted maturity instructions online yesterday (7th) for a maturing 6 mth RS 3, and I chose to put some money into a new Christmas Saver, the rest to a current account. I already have a Christmas Saver. 

The RS3 is due to mature 20th Dec. 

If they refuse the 2nd Christmas Saver when would I expect a refusal message or confirmation of my new Christmas Saver? Anyone have any idea?
Thanks. 

The last few PBS refusals seemed to have been fairly quick. However, someone also recently had gone right through to the maturity date, had their maturity instruction actioned in full, only to have their additional 6MRS account closed and the funds returned promptly to their bank? Unless I've missed any posts, I'm interested to see if anyone is refused another Christmas RS as a part of their maturity request.

If the BOE drops the interest rate at the next meeting on the 18th, which it seems most banks are anticipating to be the case, then it's possible that PBS may launch a new 6MRS at a lower rate towards the end of the month, which would tie in better with those who are able to successfully open another / more Christmas RSs being at a lower interest rate already.

dcs34

Principality
Now, if one has their maturity instructions rejected, but then tried the same trick again with another maturing account later in December, would it be reasonable for Principality to say that customer was knowingly trying to circumnavigate the rules - and might risk having all open duplicate accounts closed?

Basically just warning that if they are enforcing the rules against you it'd be best to avoid breaking more rules, lest they decide to go the whole way and terminate their relationship with you...

ForumUser7

dcs34 said:

Principality
Now, if one has their maturity instructions rejected, but then tried the same trick again with another maturing account later in December, would it be reasonable for Principality to say that customer was knowingly trying to circumnavigate the rules - and might risk having all open duplicate accounts closed?

Basically just warning that if they are enforcing the rules against you it'd be best to avoid breaking more rules, lest they decide to go the whole way and terminate their relationship with you...

Potentially, but I would hope that they are instead focusing their efforts on putting a simple 'IF' check into the page that shows the options for maturity products.

Cweb

dcs34 said:

Principality
… would it be reasonable for Principality to say that customer was knowingly trying to circumnavigate the rules - and might risk having all open duplicate accounts closed?

Previous actions would suggest not. Those who deliberately manipulated URLs to open long since publicly closed issues just had those closed (with interest paid) and didn’t have their multiple issues of the current versions open touched.

Whose to say future stances they take with any bending of the rules posses a risk.

Bigwheels1111

Just filled out my maturity instructions for 2 Year Healthy Habits Saver Bond will move to your Christmas 2026 Regular Saver on 21st December 2025.

As I have 5 reg savers and only one Christmas saver

Lets see how it goes.

cricidmuslibale

dcs34 said:

Principality
Now, if one has their maturity instructions rejected, but then tried the same trick again with another maturing account later in December, would it be reasonable for Principality to say that customer was knowingly trying to circumnavigate the rules - and might risk having all open duplicate accounts closed?

No, I don't think it would be reasonable for Principality to say that for as long as they continue to include within the list of available maturity options, account issues / types which the member - all existing savers are members of course - already has. The presence within the list of maturity options of these duplicate issues / types, to me at least, implies their potential availability as a maturity option (only, rather than as a 2nd or 3rd etc. direct opening option) and confers a certain degree of legitimacy to a decision to choose one of them, even though a strict interpretation of the Ts and Cs would suggest otherwise.

If / when Principality get round to completely removing all the duplicate issues / types from the list of available maturity options, then and only then will it be entirely clear that each individual member can only hold e.g. one of each issue of that particular type of savings account (regular saver or otherwise) at any one time!

charlie12525

Principality BS

On Sunday I logged in and opted to renew my maturing Healthy Habits Saver Bond into a new Xmas 26 RS.

I have just received the rejection secure message due to already having a Xmas 26 RS.

This is the first time I have had this rejection.

I thought the trick was to apply maturity instructions out of hours. Apparently not!

Stargunner

It was only a matter of time before Principality became aware of this.
It is quite possible that a report highlighted that they have 3 or 4 times as many active RS accounts than they have members.
it is also possible that a member of their staff could browse this forum.

subjecttocontract

Well I always wear something green and it's always worked ok for me. I have multiple principality reg savers so it must be green clothing that does the trick.