The Top Regular Savers Discussion Thread

Bridlington1

Bridlington1 said:

surreysaver said:

PowerSavingMode said:

surreysaver said:

Bridlington1 said:

surreysaver said:

Speculator said:

Melton Adcock Regular Saver

Posted my application on Wednesday, account showing online this morning with zero balance.

Didn't realise you'd be able to see it online. Thought it was all managed offline. I might pop up and open an account then, I wasn't going to bother as I'd thought there was no online visibility 

It's also worth noting as well that you can make withdrawals from Melton's regular savers over the phone. IIRC when I made a withdrawal from one of their accounts last year the funds took a day or so to arrive in my nominated account.

Do you know whether I'd be able to withdraw online from Melton's Aldcock?

The product literature says: "you can make withdrawals from your account without notice or penalty, by visiting a branch of the Society or by sending us your passbook and written instructions to us. You can also transfer funds from your account to a nominated bank or building society account."

I presume that means you can either message (online?) Melton with your withdrawal instructions...

That's the trouble with presumptions. It says nothing about online visibility, but you have to manage it by post or in person. Another poster says they can see the account online. So it all starts to become a bit vague. That's why I'm asking!

All I can do in this case is relay my own experience with Melton BS.

I can confirm that last year I phoned them to make a withdrawal from my Melton RS Issue 4 and they sent the funds to my nominated bank account despite that account being advertised as branch/post, in that respect it's not too dissimilar to the way Leeds BS allows withdrawals over the phone.

Whilst I can view my Melton BS regular savers online I couldn't see an option in online banking to make a withdrawal when I tried last year unless I've missed it. I can't recall ever sending them a secure message online to make a withdrawal though so do not know if this is possible.

I'll be needing to make a withdrawal from Melton next month anyway to feed other regular savers so shall attempt to schedule a withdrawal by faster payment by secure message.

I sent Melton BS a secure message requesting transfers from the Melton RS Issue 5 to my other 3 Melton regular savers and asked whether it was possible to make withdrawals by faster payment to my nominated account by secure message too and have got this response:

Dear Bridlington1,

Thank you for your recent secure message, I can confirm that your requests to have £150 sent to your regular saver 4, £200 sent to your regular saver 6, and £150 sent to your Adcock regular saver have been placed ready for the 1st of April.

I can confirm that you are able to call and ask for funds to be transferred to your nominated account. Dependant on the amount, you may be asked a few extra questions regarding your transaction. In addition you would be asked to confirm your nominated account number along with the sort code. A confirmation letter would then be sent to you after the transaction for your records.

Should you have any further queries, please call the Society on 01664 414141.

Yours sincerely,
The Savings Team

Thus internal transfers appear to be perfectly possible by secure message, including future dated ones, but for faster payments they seem to imply you'd need to phone them. I'll contact them again tomorrow for a clarification.

Dizzycap

10_66 said:

Dizzycap said:

This might be useful to anyone who is holding:

TSB Monthly Savings Account

Around 7-10 days before your old RS matures, the system will allow you to open a New RS without any issues.

Mine was due to mature on 6th December and I opened a new RS on the 28th November which was fully funded from my TSB current account on the 29th. I then subsequently changed the automatic set-up monthly deposit date to the beginning of the December onwards, also without issue.

Looks like this early opening method is no longer possible, I've been trying to do this over the last few days (within the 7-10 days as mentioned above) and it just keeps stating that I can't open it as I already have one.

I'd keep retrying around 6-7 days as I've found it has varied from year to year. This year it was 10 days for me, the year before before 6 days before maturity of old RS. I always managed to open my new RS early via APP, if that's any help Also, make sure the TSB App is up to date

Dizzycap

@ Bridlington1 - Thank you so much for the updated RS lists of Presently Available and NLA with the min & max amounts which is exceedingly beneficial and now printed off - Thank you for all the time and effort you put in to keep things updated which is well appreciated

Kim_13

Bridlington1 said:

Bridlington1 said:

surreysaver said:

PowerSavingMode said:

surreysaver said:

Bridlington1 said:

surreysaver said:

Speculator said:

Melton Adcock Regular Saver

Posted my application on Wednesday, account showing online this morning with zero balance.

Didn't realise you'd be able to see it online. Thought it was all managed offline. I might pop up and open an account then, I wasn't going to bother as I'd thought there was no online visibility 

It's also worth noting as well that you can make withdrawals from Melton's regular savers over the phone. IIRC when I made a withdrawal from one of their accounts last year the funds took a day or so to arrive in my nominated account.

Do you know whether I'd be able to withdraw online from Melton's Aldcock?

The product literature says: "you can make withdrawals from your account without notice or penalty, by visiting a branch of the Society or by sending us your passbook and written instructions to us. You can also transfer funds from your account to a nominated bank or building society account."

I presume that means you can either message (online?) Melton with your withdrawal instructions...

That's the trouble with presumptions. It says nothing about online visibility, but you have to manage it by post or in person. Another poster says they can see the account online. So it all starts to become a bit vague. That's why I'm asking!

All I can do in this case is relay my own experience with Melton BS.

I can confirm that last year I phoned them to make a withdrawal from my Melton RS Issue 4 and they sent the funds to my nominated bank account despite that account being advertised as branch/post, in that respect it's not too dissimilar to the way Leeds BS allows withdrawals over the phone.

Whilst I can view my Melton BS regular savers online I couldn't see an option in online banking to make a withdrawal when I tried last year unless I've missed it. I can't recall ever sending them a secure message online to make a withdrawal though so do not know if this is possible.

I'll be needing to make a withdrawal from Melton next month anyway to feed other regular savers so shall attempt to schedule a withdrawal by faster payment by secure message.

I sent Melton BS a secure message requesting transfers from the Melton RS Issue 5 to my other 3 Melton regular savers and asked whether it was possible to make withdrawals by faster payment to my nominated account by secure message too and have got this response:

Dear Bridlington1,

Thank you for your recent secure message, I can confirm that your requests to have £150 sent to your regular saver 4, £200 sent to your regular saver 6, and £150 sent to your Adcock regular saver have been placed ready for the 1st of April.

I can confirm that you are able to call and ask for funds to be transferred to your nominated account. Dependant on the amount, you may be asked a few extra questions regarding your transaction. In addition you would be asked to confirm your nominated account number along with the sort code. A confirmation letter would then be sent to you after the transaction for your records.

Should you have any further queries, please call the Society on 01664 414141.

Yours sincerely,
The Savings Team

Thus internal transfers appear to be perfectly possible by secure message, including future dated ones, but for faster payments they seem to imply you'd need to phone them. I'll contact them again tomorrow for a clarification.

FPs by phone only doesn’t seem to be the best system unless you can either call/secure message to nominate an account in advance and receive written confirmation of that, or send in a form to nominate one (and thus could have confirmation of the account details as they should be recorded.) 

I can see FPs by phone might be easier for them - as they don’t have to mess around trying to get hold of the saver if a few extra questions are required about a withdrawal requested online - but we don’t know if the details might have been misheard or mistyped and COP failed and overriden etc. I suppose the customer could ask the CS to read back the details to check if they get someone not doing that automatically, secure message to do so, or ask for a small test payment first.

Edit: Just remembered that the nominated account was on the application form. Guess who failed to keep a copy?

Bridlington1

Kim_13 said:

Bridlington1 said:

Bridlington1 said:

surreysaver said:

PowerSavingMode said:

surreysaver said:

Bridlington1 said:

surreysaver said:

Speculator said:

Melton Adcock Regular Saver

Posted my application on Wednesday, account showing online this morning with zero balance.

Didn't realise you'd be able to see it online. Thought it was all managed offline. I might pop up and open an account then, I wasn't going to bother as I'd thought there was no online visibility 

It's also worth noting as well that you can make withdrawals from Melton's regular savers over the phone. IIRC when I made a withdrawal from one of their accounts last year the funds took a day or so to arrive in my nominated account.

Do you know whether I'd be able to withdraw online from Melton's Aldcock?

The product literature says: "you can make withdrawals from your account without notice or penalty, by visiting a branch of the Society or by sending us your passbook and written instructions to us. You can also transfer funds from your account to a nominated bank or building society account."

I presume that means you can either message (online?) Melton with your withdrawal instructions...

That's the trouble with presumptions. It says nothing about online visibility, but you have to manage it by post or in person. Another poster says they can see the account online. So it all starts to become a bit vague. That's why I'm asking!

All I can do in this case is relay my own experience with Melton BS.

I can confirm that last year I phoned them to make a withdrawal from my Melton RS Issue 4 and they sent the funds to my nominated bank account despite that account being advertised as branch/post, in that respect it's not too dissimilar to the way Leeds BS allows withdrawals over the phone.

Whilst I can view my Melton BS regular savers online I couldn't see an option in online banking to make a withdrawal when I tried last year unless I've missed it. I can't recall ever sending them a secure message online to make a withdrawal though so do not know if this is possible.

I'll be needing to make a withdrawal from Melton next month anyway to feed other regular savers so shall attempt to schedule a withdrawal by faster payment by secure message.

I sent Melton BS a secure message requesting transfers from the Melton RS Issue 5 to my other 3 Melton regular savers and asked whether it was possible to make withdrawals by faster payment to my nominated account by secure message too and have got this response:

Dear Bridlington1,

Thank you for your recent secure message, I can confirm that your requests to have £150 sent to your regular saver 4, £200 sent to your regular saver 6, and £150 sent to your Adcock regular saver have been placed ready for the 1st of April.

I can confirm that you are able to call and ask for funds to be transferred to your nominated account. Dependant on the amount, you may be asked a few extra questions regarding your transaction. In addition you would be asked to confirm your nominated account number along with the sort code. A confirmation letter would then be sent to you after the transaction for your records.

Should you have any further queries, please call the Society on 01664 414141.

Yours sincerely,
The Savings Team

Thus internal transfers appear to be perfectly possible by secure message, including future dated ones, but for faster payments they seem to imply you'd need to phone them. I'll contact them again tomorrow for a clarification.

FPs by phone only doesn’t seem to be the best system unless you can either call/secure message to nominate an account in advance and receive written confirmation of that, or send in a form to nominate one (and thus could have confirmation of the account details as they should be recorded.) 

I can see FPs by phone might be easier for them - as they don’t have to mess around trying to get hold of the saver if a few extra questions are required about a withdrawal requested online - but we don’t know if the details might have been misheard or mistyped and COP failed and overriden etc. I suppose the customer could ask the CS to read back the details to check if they get someone not doing that automatically, secure message to do so, or ask for a small test payment first.

Edit: Just remembered that the nominated account was on the application form. Guess who failed to keep a copy?

You should be able to see your nominated account in online banking. Go to ``My Details" at the top and it should be in the penultimate section.

Bridlington1

Dizzycap said:

@ Bridlington1 - Thank you so much for the updated RS lists of Presently Available and NLA with the min & max amounts which is exceedingly beneficial and now printed off - Thank you for all the time and effort you put in to keep things updated which is well appreciated

Thank you @Dizzycap for your kind words.

But of course this thread would be nowhere near as valuable if it wasn't for the many others who post in it.

I know I have certainly benefitted from the insights and info many post here over the last few years so if I may I shall take the opportunity to thank you all for your many contributions to this thread and the forum more widely.

pecunianonolet

Quick question, Santander and Lloyds regular saver. 

I put 200 into Santander and 250 into the Lloyds regular saver but had to take the 200 from Santander out and some of the Lloyds regular saver. I am reading their withdrawal terms but I am not sure if I can within the same month replace those funds e.g. put the 200 back into Santander. Apologies if it is obvious but been a looong day....

jaypers

pecunianonolet said:

Quick question, Santander and Lloyds regular saver. 

I put 200 into Santander and 250 into the Lloyds regular saver but had to take the 200 from Santander out and some of the Lloyds regular saver. I am reading their withdrawal terms but I am not sure if I can within the same month replace those funds e.g. put the 200 back into Santander. Apologies if it is obvious but been a looong day....

Would appear you cannot……..

”Maximum monthly deposit: £200. This means the maximum balance you can have at the end of the term is £2,400 (plus interest). If you take money out and then pay it back in, it’ll count towards this monthly limit.”

Dizzycap

pecunianonolet said:

Quick question, Santander and Lloyds regular saver. 

I put 200 into Santander and 250 into the Lloyds regular saver but had to take the 200 from Santander out and some of the Lloyds regular saver. I am reading their withdrawal terms but I am not sure if I can within the same month replace those funds e.g. put the 200 back into Santander. Apologies if it is obvious but been a looong day....

Unfortunately, any monies withdrawn from a RS can't be relaced at a later date. I hope that helps

WillPS

Dizzycap said:

pecunianonolet said:

Quick question, Santander and Lloyds regular saver. 

I put 200 into Santander and 250 into the Lloyds regular saver but had to take the 200 from Santander out and some of the Lloyds regular saver. I am reading their withdrawal terms but I am not sure if I can within the same month replace those funds e.g. put the 200 back into Santander. Apologies if it is obvious but been a looong day....

Unfortunately, any monies withdrawn from a RS can't be relaced at a later date. I hope that helps

Not universally true.

Virgin Money specifically allows it. Natwest/RBS don't stop you adding funds back in the same month you took it out either.