The Top Regular Savers Discussion Thread

Section62

francoghezzi said:

As I said if at Darlington are happy to have a Sunday roast while being out of pocket for a few million pounds am totally happy for them and their ethic of work. That is not 'my' ethic that is clearly something out of the present world. As always happy to be part of a minority

If "a few million pounds" really had gone missing then you'd have a fair point.

But the money isn't missing.  Darlington knows where it is (in customer accounts) and it isn't going anywhere (they put restrictions in place).  They just need to work out the best way of moving it back out of customer accounts without causing additional problems.  And prior to doing so it is possible they might need a conversation with their regulators to make sure they are doing the right thing.

One of the roles I had in local government was civil emergency management.  Our working 'ethic' was "don't panic".  Much of our effort was put into stopping people racing round like headless chickens trying to fix stuff without thinking what they are doing.  As such I find it reassuring if Darlington staff enjoyed their normal Sunday relaxing at home, and came in to work today with clear heads and ready to start doing what needs to be done.  I'm certainly not going to criticise their work ethic.

With something like this getting it right is more important than doing it quickly.

Section62

clairec666 said:

Honestly, how many of us have actually been inconvenienced by Darlington's error?

Probably very few... other than those who hoped to be able to withdraw the overpayment of interest and get away with it.

mhoc

Question regarding Cambridge building society please

OH has his Cambridge Extra reward regular maturing later this month (and mine matures early Feb)- just checked and he has not had an email and no letter yet re maturity instructions so can anyone remember what the procedure is please? 
On their website the Extra reward at 6% fixed is still showing as available - will the rate drop by the time maturity comes around?

The reward regular at 5% fixed is still listed - assume that Cambridge will only allow one not both?

Tested a 13th payment but it bounced of course.

Thanks in advance 

Section62

mhoc said:

Question regarding Cambridge building society please

OH has his Cambridge Extra reward regular maturing later this month (and mine matures early Feb)- just checked and he has not had an email and no letter yet re maturity instructions so can anyone remember what the procedure is please? 
On their website the Extra reward at 6% fixed is still showing as available - will the rate drop by the time maturity comes around?

The reward regular at 5% fixed is still listed - assume that Cambridge will only allow one not both?

Tested a 13th payment but it bounced of course.

Thanks in advance 

Cambridge allow renewal of the maturing account into one of the currently available ones - AFAIK they might allow this when you get within a few days of the maturity date, even though the T&Cs say no withdrawals before maturity.

Only one RS account of any type per member.

happybagger

francoghezzi said:

This is not a technical issue, what happened will cause 'ground' to complain because that regular saver has been thought to allow withdrawals in any moments, plus it has nothing to do with the IT department. Funny that you mention Monmouthshire and few others that am happy not to have any connections with. Of any kind :-)

Ps. Thank you for your fantastic job on this thread

They haven't prevented "withdrawals", they have stated "no closure temporarily"
I am quite certain if you needed the cash, you could have asked and they would have sent you funds net of what they think was an overpayment. I can't confirm as I haven't asked for one (I assume if you yourself did need one, you would have asked by now)

I have not been inconvenienced. I have no need to complain or seek the modern-day compensation "gesture of goodwill". And as they are still paying me 6% on my deposits, I'll not be looking to withdraw my funds on a whim.

Each to their own.

gt94sss2

mhoc said:

Question regarding Cambridge building society please

OH has his Cambridge Extra reward regular maturing later this month (and mine matures early Feb)- just checked and he has not had an email and no letter yet re maturity instructions so can anyone remember what the procedure is please? 

The reward regular at 5% fixed is still listed - assume that Cambridge will only allow one not both?

Two weeks before the maturity date, the option to submit maturity options will appear in the app and you will also get an email.

You can only have one regular saver with Cambridge so can't hold both a Reward and Extra Reward at the same time.

s71hj

Saw 3 pages of new posts in 2 hours and thought some fantastic new RS must have been released, the Principality Green Shirt New Year Saver or some such. 

happybagger

mhoc said:

OH has his Cambridge Extra reward regular maturing later this month (and mine matures early Feb)- just checked and he has not had an email and no letter yet re maturity instructions so can anyone remember what the procedure is please? 

I received an email (only), that 11 calendar days before maturity. SO yo may have jumped the gun a tad. There was a link to click on, to "Maturity Manager", IIRC it allowed me to transfer £300 into a new ERRS and have the rest paid out to bank. New account was opened on the day the old one matured.

All worked fine for me.

What are my options?

As your Extra Reward Regular Saver (Issue 2) matures you can choose to:

• Transfer your balance to an existing Cambridge account
• Reinvest your savings into a new savings account
• Withdraw all or part of your balance
• Leave the balance in your maturity account

Bridlington1

s71hj said:

Saw 3 pages of new posts in 2 hours and thought some fantastic new RS must have been released, the Principality Green Shirt New Year Saver or some such. 

Well to put that right for you:

West Brom have launched a Winter Ready Savings Account at 6% fixed:
Can be opened online or in branch
Matures 31/10/26
£100/mth max
Max balance £1k
No withdrawals permitted until the end of its term.

s71hj

Bridlington1 said:

s71hj said:

Saw 3 pages of new posts in 2 hours and thought some fantastic new RS must have been released, the Principality Green Shirt New Year Saver or some such. 

Well to put that right for you:

West Brom have launched a Winter Ready Savings Account at 6% fixed:
Can be opened online or in branch
Matures 31/10/26
£100/mth max
Max balance £1k
No withdrawals permitted until the end of its term.

West Brom have an away shirt with green in it so I can make that work.