The Top Regular Savers Discussion Thread

Section62

Kim_13 said:

Dizzycap said:

Kim_13 said:

Dizzycap said:

soulsaver said:

Unlikely to worry anyone but FYI.

A recent error led Leeds BS to look closer at my RSs.

In a subsequent letter I was asked to contact them re the number reg savers I have.

In the conversation, I argued that the terms suggest that holding multiple different issues is legitimate?

Plus Leeds had allowed them to be opened and regularly funded for quite some time.

It was an amicable conversation, because after their latest round of reductions, their rates are relatively rubbish.

After their  'due consideration' they intend to close all but the oldest one.  

Have Leeds BS changed their T&C's recently with the latest RS issue?

However, it would explain why Leeds have now closed all but your oldest RS, if they've decided to adopt a new policy which would be unfair if previous eligibilty criteria did not stipulate the highlighted.

If terms have been changed, then while the new issue would be closed if the customer had a previous one, they would surely have to allow all legitimate older accounts to run to term if that clause was not agreed to in respect of the older accounts. That would be akin to Skipton closing the RS Issue 1s held by Member RS Issue 4 customers. They didn’t of course, and launched Issue 2 and 5 with the changed terms.

I sincerely hope that Leeds BS will pay the interest in full up to the date they intend / have closed the other RSs after 'due consideration'. 

I can't imagine they would be allowed to do anything else given the clause does not say interest will only be paid at Easy Access rate if that happens. 

They have to accept partial responsibility for the situation given their system accepted applications it should not have accepted. 

And if they got silly about it then it could be pointed out the terms only say what will happen to a 'second' account.  They are silent about the third, fourth, fifth (etc) accounts their system had allowed you to open.

Perhaps they assumed nobody would ever want more than two regular saver accounts. 

GetRichOrDieSaving

Monmouthshire App Exclusive RS

can funds be withdrawn and returned in the same month? 

clairec666

GetRichOrDieSaving said:

Monmouthshire App Exclusive RS

can funds be withdrawn and returned in the same month? 

I would assume the terms are for the same as the 6% regular saver, which says

• Keep in mind you may not be able to replace what you withdraw. This is because of the monthly deposit limits.

Bridlington1

clairec666 said:

GetRichOrDieSaving said:

Monmouthshire App Exclusive RS

can funds be withdrawn and returned in the same month? 

I would assume the terms are for the same as the 6% regular saver, which says

• Keep in mind you may not be able to replace what you withdraw. This is because of the monthly deposit limits.

Indeed that term is in the Ts&Cs for the App Exclusive RS. See:
https://web.archive.org/web/20250821190322/https://www.monbs.com/savings/app-exclusive-regular-saver/

Andystriker

friolento said:

MrWannabe said:

mon3ysav3r said:

West Bromwich winter ready - they do seem to be slow in opening these, I have just had to chase them having filled in the application online on the 5th 

If not done so already, check your junk mail folder.  I applied for WB Winter Ready & was surprised to notice that the ‘welcome/your account is now open’ email had landed in my junk mail folder as opposed to my normal inbox.

I checked my spam as I had not received a confirmation email - nothing. Then I logged into my WB account just now, and there it is sitting with a £0 balance, ready for my deposit. 

West Brom

Same here.

I opened the account on 5th January. I am existing customer with other Regular Saver and ISA.  No confirmation email.  I got the original email saying I will hear.

I rang them on Thursday 8th and they said be patient.  The new account is showing online.

I don't know whether to just fund it or ring West Brom again and ask where my welcome email is???

surreysaver

GetRichOrDieSaving said:

Monmouthshire App Exclusive RS

can funds be withdrawn and returned in the same month? 

You could always try it and let the rest of us know.  Or just withdraw £10 and try and pay it back in and let us know.

It's probably safest, if you think you might need the money during the month, to make your deposit towards the end of the month instead of the beginning.  I've used this method in the past when waiting for regular savers to mature if I haven't had sufficient funds available at the beginning of the month.

GetRichOrDieSaving

clairec666 said:

GetRichOrDieSaving said:

Monmouthshire App Exclusive RS

can funds be withdrawn and returned in the same month? 

I would assume the terms are for the same as the 6% regular saver, which says

• Keep in mind you may not be able to replace what you withdraw. This is because of the monthly deposit limits.

A little bit ambiguous with the use of ‘may’ but based on this alone I don’t think it’s worth the risk. 

Thank you. 

clairec666

GetRichOrDieSaving said:

clairec666 said:

GetRichOrDieSaving said:

Monmouthshire App Exclusive RS

can funds be withdrawn and returned in the same month? 

I would assume the terms are for the same as the 6% regular saver, which says

• Keep in mind you may not be able to replace what you withdraw. This is because of the monthly deposit limits.

A little bit ambiguous with the use of ‘may’ but based on this alone I don’t think it’s worth the risk. 

Thank you. 

I think the "may" is because you could deposit £100, withdraw £100, and still be able to replace it because you haven't reached the monthly limit. Presumably maxing out the account at the start of the month would mean you can't replace any money withdrawn.

Some accounts don't strictly enforce this and go on an "aggregate" for the month, however there's no guarantee that Monmouthshire do this.

friolento

Andystriker said:

friolento said:

MrWannabe said:

mon3ysav3r said:

West Bromwich winter ready - they do seem to be slow in opening these, I have just had to chase them having filled in the application online on the 5th 

If not done so already, check your junk mail folder.  I applied for WB Winter Ready & was surprised to notice that the ‘welcome/your account is now open’ email had landed in my junk mail folder as opposed to my normal inbox.

I checked my spam as I had not received a confirmation email - nothing. Then I logged into my WB account just now, and there it is sitting with a £0 balance, ready for my deposit. 

West Brom

Same here.

I opened the account on 5th January. I am existing customer with other Regular Saver and ISA.  No confirmation email.  I got the original email saying I will hear.

I rang them on Thursday 8th and they said be patient.  The new account is showing online.

I don't know whether to just fund it or ring West Brom again and ask where my welcome email is???

 I don't now care much about the welcome email, and assume they were just too busy sending it. Processing errors do happen, particularly when manual intervention is required (which appears to be the case with those WBrom applications).  Main thing is that the account shows online. 

Bridlington1

Beverley BS Interest Rate Reductions 1/2/26:

Of note their Regular Saver Issue 1 at 5.5% (includes conditional bonus) ~~~ NO CHANGE ~~~ Remains at 5.5%.