The Top Regular Savers Discussion Thread

allegro120

x44 said:

Where Mansfield B.Soc say manage the account through branch/post only does that mean that to pay into the account you need either visit a branch or send a monthly cheque (plus passbook?) to the society?

So no direct electronic bank transfers?

If so - yes far too much faff and bother.

You can pay in by electronic bank transfers (money arrive next working day), but withdrawals are by cheque (i.e. you have to send a written instruction by post and they will send you a cheque).  

Stargunner

allegro120 said:

x44 said:

Where Mansfield B.Soc say manage the account through branch/post only does that mean that to pay into the account you need either visit a branch or send a monthly cheque (plus passbook?) to the society?

So no direct electronic bank transfers?

If so - yes far too much faff and bother.

You can pay in by electronic bank transfers (money arrive next working day), but withdrawals are by cheque (i.e. you have to send a written instruction by post and they will send you a cheque).  

To much faffing around for me. I will stick to reg savers that can be managed online.

jifmoose

Ah OK. Likewise postal applications/passbooks are usually above my faff threshold, but 6%/£500 is pretty nice.

Noob question - what about opening the account? Do we need to send a cheque for the initial deposit, or can the initial funding be by bank transfer too? (almost certainly don't have a chequebook anymore).

happybagger

jifmoose said:

Noob question - what about opening the account? Do we need to send a cheque for the initial deposit, or can the initial funding be by bank transfer too? (almost certainly don't have a chequebook anymore).

I think you need to call and ask that question. As 'noob', if you're going to be joining the reg saver game, asking your bank for a chequebook might be a good idea.

Different people have different acceptable 'faff levels' - I view online selfie ID requirements a faff as I don't have a phone with a working camera. But an opening cheque in an envelope I can cope with. This account will bring in about £55 more than my instant access account at current rate differences over the year, I may as well have it.

flaneurs_lobster

@jifmoose said:

Noob question - what about opening the account? Do we need to send a cheque for the initial deposit, or can the initial funding be by bank transfer too? (almost certainly don't have a chequebook anymore).

happybagger said:

I think you need to call and ask that question. As 'noob', if you're going to be joining the reg saver game, asking your bank for a chequebook might be a good idea.

Yes please - and post their answer here please.

Kim_13

I'm happy to faff when I need to do so, but shouldn't need to fund below 6.3% at HEBS in a normal month. After that I still have Scottish and Melton at 6%. Realistically the account wouldn't receive any significant funding until Monmouthshire matures, by which time it may look very different.

The only account I have that needs a passbook posting in and won't return funds by FP is Loughborough, and I only bothered with that because it could be emailed. I'll consider Mansfield if it is still available when I have a gap I'm my funding ladder that needs filling, but it doesn't make sense for me at the moment.