The Top Regular Savers Discussion Thread

FarmGirl78

sheffieldeagle said:

Monmouthshire BS

Apologies if someone has already mentioned this but Monmouthshire are having problems with there IT systems.

Cheers

Ahh, that makes sense with what I was coming here to ask! 

I'm aiming for the perfect system of 12 regular savers with one maturing every month.... currently on 9.

Last night via app I opened a Monmouthshire regular saver. It was doing its swirling wheel of death for ages on the "Do not leave this page while we set up your account. Do not press back. Do not refresh. Do not blink. Do not pass go" threatening hold page. After about 20 minutes I accidentally knocked the screen and when back in kicking myself I was pleased to see it had actually opened a RS for me. Actually not one, but two.

Now I know back on about page 442 there were people managing to open 2 accounts due to the paper form queue being too long, and Monmouthshire asking people to jump the queue by also applying on the app. But this is slightly different, both accounts are via the app. Are they likely to notice? Are they likely to bother? Has anyone else had this happen? I'm planning on funding both until they stop me. 

Any advice?

friolento

FarmGirl78 said:

 

Any advice?

Don’t announce it on a public forum 😉

trickydicky14

surreysaver said:

topyam said:

The rate for the West Brom is very good. Even better that it is fixed. Given how things are heading, it's good enough for me to open.

Anything fixed is wise to open, even if you pay the minimum allowed to begin with. Even more wise if it is easy access (i.e. you can withdraw your deposits before the maturity date)

Which the West Brom is not.
No. You can’t take any money out from your account until the end of the fixed term. This includes closing the account or moving your money to another savings account with us.

Hattie627

trickydicky14 said:

surreysaver said:

topyam said:

The rate for the West Brom is very good. Even better that it is fixed. Given how things are heading, it's good enough for me to open.

Anything fixed is wise to open, even if you pay the minimum allowed to begin with. Even more wise if it is easy access (i.e. you can withdraw your deposits before the maturity date)

Which the West Brom is not.
No. You can’t take any money out from your account until the end of the fixed term. This includes closing the account or moving your money to another savings account with us.

Yes, no withdrawals or even early closure allowed. On the plus side, it's only for 10 months and with the monthly contribution being only £100 it won't be a huge amount of money tied up for that period. With a fixed interest rate of 6% it is highly unlikely to become uncompetitive rate-wise within the 10 months.

WillPS

FarmGirl78 said:

Now I know back on about page 442 there were people managing to open 2 accounts due to the paper form queue being too long, and Monmouthshire asking people to jump the queue by also applying on the app. But this is slightly different, both accounts are via the app. Are they likely to notice? Are they likely to bother? Has anyone else had this happen? I'm planning on funding both until they stop me. 

MonBS don't close down additional accounts obtained innocently, in my experience. Their advice is normally to leave one unfunded which they'll then automatically close - although even this doesn't actually happen [from my experience]!

surreysaver

WillPS said:

FarmGirl78 said:

Now I know back on about page 442 there were people managing to open 2 accounts due to the paper form queue being too long, and Monmouthshire asking people to jump the queue by also applying on the app. But this is slightly different, both accounts are via the app. Are they likely to notice? Are they likely to bother? Has anyone else had this happen? I'm planning on funding both until they stop me. 

MonBS don't close down additional accounts obtained innocently, in my experience. Their advice is normally to leave one unfunded which they'll then automatically close - although even this doesn't actually happen [from my experience]!

I had two of Monmouthshire's 7% accounts opened in the summer due to the issues with the app. I've happily been funding both since.

allegro120

FarmGirl78 said:

sheffieldeagle said:

Monmouthshire BS

Apologies if someone has already mentioned this but Monmouthshire are having problems with there IT systems.

Cheers

Ahh, that makes sense with what I was coming here to ask! 

I'm aiming for the perfect system of 12 regular savers with one maturing every month.... currently on 9.

Last night via app I opened a Monmouthshire regular saver. It was doing its swirling wheel of death for ages on the "Do not leave this page while we set up your account. Do not press back. Do not refresh. Do not blink. Do not pass go" threatening hold page. After about 20 minutes I accidentally knocked the screen and when back in kicking myself I was pleased to see it had actually opened a RS for me. Actually not one, but two.

Now I know back on about page 442 there were people managing to open 2 accounts due to the paper form queue being too long, and Monmouthshire asking people to jump the queue by also applying on the app. But this is slightly different, both accounts are via the app. Are they likely to notice? Are they likely to bother? Has anyone else had this happen? I'm planning on funding both until they stop me. 

Any advice?

This happened to me too.  I attempted to fund both.  One accepted deposits and works as normal, the other rejected deposits and MonBS closed it about a month later.  However, some people managed to keep and fund both.  Just need to try fund both, if unsuccessful your funds will be returned next working day.

Kim_13

Text received from West Brom advising account open at 11:45 ish, so less than 24 hours as an existing customer. Application submitted 1pm or so yesterday.

Still waiting for COP on my Suffolk account opened yesterday, would have expected it to work today. Application finally went at the 3rd attempt at sending the email on 30th December. 

janusd

Kim_13 said:

Text received from West Brom advising account open at 11:45 ish, so less than 24 hours as an existing customer. Application submitted 1pm or so yesterday.

as a new customer to West Brom, applied at 12:30pm on Monday, got a text & email at 9:23am this morning telling me account was opened and included account number.

You'll be able to pay money into your account electronically from tomorrow.
We'll email you details on how you can register to manage your account online tomorrow. 

i'll make the deposit as soon as I can login online.

SJMALBA

Kim_13 said:

Text received from West Brom advising account open at 11:45 ish, so less than 24 hours as an existing customer. Application submitted 1pm or so yesterday.

Still waiting for COP on my Suffolk account opened yesterday, would have expected it to work today. Application finally went at the 3rd attempt at sending the email on 30th December. 

Suffolk BS Savings FAQ:

'If this is a new mortgage or savings account, it may take up to 48 hours for online banking facilities to verify our details.'

also

'If you’ve opened a new account with us online and attempt to make your first deposit, you might see a message which says your bank doesn’t recognise our bank details. This is because Confirmation of Payee (CoP) isn’t possible within the first two days of opening an account.'

FWIW, my recent Suffiolk RS was opened on a Monday, and it was Wednesday before COP was recognised.