The Top Regular Savers Discussion Thread

Hattie627

Aidanmc said:

Hattie627 said:

Before opening Loughborough BS new account, be aware that they have no online access at all, even just to check balance (unless it's changed recently). When I had an account with them, I had to phone regularly to check monthly payments were received and credited.

Can withdrawals/closure/ be done by phone also?

The T and Cs suggest that you have to produce the passbook, either at branch or by post, along with signed withdrawal form to access funds.

allegro120

Kim_13 said:

happybagger said:

WillPS said:

Live on their website now: https://www.theloughborough.co.uk/savings/easy-access/holiday-monthly-saver

Sadly it's a variable rate and Loughborough have previous with knocking down decent savers within term. Might still grab speculatively.

Have they? I know they have form on not increasing rates (I opened their reg saver when bank rate was on the floor and they offered 2.5%, and it is still there now!) but I don't recall any one year reg savers that they've been bad with.

I'll bag some of this I think. It's the first time I've seen them allowing emailed applications too.

Me too. Wondering if I should change my bank statement to postal statements (due one next week) or whether they are likely to accept the PDF downloaded from the app. 

Easy way to get a foot in the door for me, as no previous dealings with them. Wouldn’t post off for this rate, but happy to email them.

Loughborough.
I called them.  No need to post anything. They will send me an application form and will accept scanned of downloaded PDF documents by e-mail. 
They said that they don't need my passport because they already have a copy of it, but still need 2 confirmations of address.  This is a bit strange because I remember bringing my driving licence to the branch and they have made a copy of it as well as my passport.   

One thing to bear in mind is that this is a passbook account, so it will be a cheque when you want to withdraw your funds. 

Kim_13

allegro120 said:

Kim_13 said:

happybagger said:

WillPS said:

Live on their website now: https://www.theloughborough.co.uk/savings/easy-access/holiday-monthly-saver

Sadly it's a variable rate and Loughborough have previous with knocking down decent savers within term. Might still grab speculatively.

Have they? I know they have form on not increasing rates (I opened their reg saver when bank rate was on the floor and they offered 2.5%, and it is still there now!) but I don't recall any one year reg savers that they've been bad with.

I'll bag some of this I think. It's the first time I've seen them allowing emailed applications too.

Me too. Wondering if I should change my bank statement to postal statements (due one next week) or whether they are likely to accept the PDF downloaded from the app. 

Easy way to get a foot in the door for me, as no previous dealings with them. Wouldn’t post off for this rate, but happy to email them.

I called them.  No need to post anything. They will send me an application form and will accept scanned of downloaded PDF documents by e-mail. 
They said that they don't need my passport because they already have a copy of it, but still need 2 confirmations of address.  This is a bit strange because I remember bringing my driving licence to the branch and they have made a copy of it as well as my passport.   

If they have your passport already that should suffice as one item - very strange. The ID page from their website also said one item for name and one for address.

I will print out a form, fill it in and scan back if applying, but if there still isn’t limited online access then I think I’ll pass.

allegro120

Aidanmc said:

Re furnness Christmas RS, is it possible to make deposits by electronic transfer once account is initially open.?

I received passbook today, but i dont see any sort code/acc number

Just my 9 digit account no

Furness.
Sort Code - 15-10-00

Account Number - 23114065
"Payments into the account can be made by faster payment, standing order or by cash or cheque at your local branch. Electronic payments must be from your own account and not from a third party. Funds cannot be transferred from an existing Furness savings account."

WillPS

I've applied. My expectations are:

• I won't need to spend anything other than the cost of printing 3 sides of A4 to apply. 
• I won't have any live access to balance. I'll get the book made up when I'm in Derby (handful of times a year), and I'll call if ever there's a need. If online access is ever provided that's a bonus.
• When I need to make a withdrawal I will either have to post my book off or more likely combine it with a trip to Derby or another branch. If maturity instructions are sought and a prepaid envelope provided (or better still an online submission method), that's a bonus.
• The account will be minimally funded for the time being at least as there are higher rate accounts we still haven't fully funded. Worst case, end of term I'll have £15 + interest, and a 'foot in the door' in case a loyalty product is offered in future.

Will see how it goes.

allegro120

Kim_13 said:

allegro120 said:

Kim_13 said:

happybagger said:

WillPS said:

Live on their website now: https://www.theloughborough.co.uk/savings/easy-access/holiday-monthly-saver

Sadly it's a variable rate and Loughborough have previous with knocking down decent savers within term. Might still grab speculatively.

Have they? I know they have form on not increasing rates (I opened their reg saver when bank rate was on the floor and they offered 2.5%, and it is still there now!) but I don't recall any one year reg savers that they've been bad with.

I'll bag some of this I think. It's the first time I've seen them allowing emailed applications too.

Me too. Wondering if I should change my bank statement to postal statements (due one next week) or whether they are likely to accept the PDF downloaded from the app. 

Easy way to get a foot in the door for me, as no previous dealings with them. Wouldn’t post off for this rate, but happy to email them.

I called them.  No need to post anything. They will send me an application form and will accept scanned of downloaded PDF documents by e-mail. 
They said that they don't need my passport because they already have a copy of it, but still need 2 confirmations of address.  This is a bit strange because I remember bringing my driving licence to the branch and they have made a copy of it as well as my passport.   

If they have your passport already that should suffice as one item - very strange. The ID page from their website also said one item for name and one for address.

I will print out a form, fill it in and scan back if applying, but if there still isn’t limited online access then I think I’ll pass.

There's no online access.  I call them every month to check my balance.

WillPS

FWIW - in their 2024 AGM Loughborough BS reported the following (my bold):

Question: With regard to the new IT platforms which are being developed please can you confirm

what this will provide for Savings customers?

Response: The benefits from making the IT investment will fall into three main categories:

• Better services for members including internet access although this will not be in phase one

• Improved efficiency for our employees removing repeat tasks and creating more time to

serve customers

• Future IT development to add new member services will be more agile

The first phase will not include internet access for members, this is to reduce the complexity of the

change being managed. Once we have completed this we will work on releasing services to

members including:

• Managing balances

• Moving funds back to bank accounts

• Applying for new savers accounts and mortgages

• Applying for bonds or expressing preferences on bond maturity

• Selecting your next mortgage product

Passbook based accounts will still be available. As a strategy the Society will continue to support

being in the community.

We have no plans to develop an app but it is in our considerations to introduce one. We would start

with browser access to the services.

It'll be interesting to see if there's an update on this programme in this year's AGM (later this month).

allegro120

Hattie627 said:

Aidanmc said:

Hattie627 said:

Before opening Loughborough BS new account, be aware that they have no online access at all, even just to check balance (unless it's changed recently). When I had an account with them, I had to phone regularly to check monthly payments were received and credited.

Can withdrawals/closure/ be done by phone also?

The T and Cs suggest that you have to produce the passbook, either at branch or by post, along with signed withdrawal form to access funds.

Sounds right. I've asked this question a while ago and been told exactly that. Either pop into a branch with passbook or send withdrawal request with passbook by post. It will be a cheque either way. 

Bridlington1

WillPS said:

I've applied. My expectations are:

• I won't need to spend anything other than the cost of printing 3 sides of A4 to apply. 
• I won't have any live access to balance. I'll get the book made up when I'm in Derby (handful of times a year), and I'll call if ever there's a need. If online access is ever provided that's a bonus.
• When I need to make a withdrawal I will either have to post my book off or more likely combine it with a trip to Derby or another branch. If maturity instructions are sought and a prepaid envelope provided (or better still an online submission method), that's a bonus.
• The account will be minimally funded for the time being at least as there are higher rate accounts we still haven't fully funded. Worst case, end of term I'll have £15 + interest, and a 'foot in the door' in case a loyalty product is offered in future.

Will see how it goes.

I seem to recall when I've opened accounts with them in the past (a couple of years back admittedly) I've been able to phone them and get them to send me an application pack with prepaid envelope. I'll give them a ring if the account is still around on Thursday and test if this is still the case.

Afahmaep

Thanks to this new Loughborough BS account (which will be my 3rd with them) i will have 52 Regular Savers active
and running.
Difficuly is monitoring maturity dates to coincide with the amount needed  to maintain them which is currently £14k per month
I/ve got a blip in June and July when only £1800 and £3100 mature so wlll have probably raid my 2 year Hanley Economic Building Society opened November 2023 which allows withdrawals but NLA  with £16k in it.
Other optioms for any shortfall is using my Flexible ISA