The Top Regular Savers Discussion Thread

flaneurs_lobster

francoghezzi said:

flaneurs_lobster said:

francoghezzi said:

flaneurs_lobster said:

francoghezzi said:

Melton Adcock Regular Saver

A 5 star service from Melton. I sent my application form on Monday, the account has been opened and funded yesterday and today I was able to go on line and see my account and money duly registered. On Monday, although it wasn't requested, as a new customer, I sent my council tax letter as a prove of address for them and today was returned in the post. I hope this could be helpful for those who are thinking of opening the account. I made a couple of phone calls also and the people there are absolutely lovely.  

Just for balance...

New Melton customer, sent Adcock RS application form off 1st class w/ cheque on 17/03

Cheque cashed 21/03.

No communication whatsoever from Melton to date.

I paid with electronic transfer from my nominated account, so much easier than writing and sending a check that is not a 'must' for them. Anyone can chose to make even the first payment from bank order just ticking the option in the application form. I guess this makes the process really quick. When the phone me to inform me that the account had been opened I was given sort code, account and reference for my bank and sent the first payment in a minute. Now waiting for next Tuesday to pay for the second calendar month

I'm guessing that you were an existing customer? Remember I am a new customer, no customer id, no logon details, no account number, no way of knowing if my application has even been accepted other than a cashed cheque.

A simple email acknowledgement of receipt I'd expect as a bare minimum after 10 days.

I am a new customer as I wrote in my post. Today I phoned them to check if the payment had been received and after they said everything was fine I was given my customer id and the first part of the password to go on line. The second part came by e mail 3 minutes later and using those details I was able to log in and see my account on line. A simple phone call on Tuesday to ask for my current account details in order to send my electronic payment and a simple phone call today in order to know that the money were on my account and to be able to log in. Up and running. No check, no medieval stuff, just quick and easy. 

OK I take your point, if I had been more proactive and made contact by phone I may have been able to expedite the process. Although if I had wanted an account I had to operate by phone I may have looked elsewhere.

I'll assume that I have an open RS and will give Melton until 01/04 (when I could fund the next month) to confirm details. I'm not minded to spend more time on this account, it's rather confirmed my prejudices against filling out paper application forms and writing cheques. I'm down £1.65 postage, the price of an envelope and a week's interest on £150.

allegro120

flaneurs_lobster said:

francoghezzi said:

Melton Adcock Regular Saver

A 5 star service from Melton. I sent my application form on Monday, the account has been opened and funded yesterday and today I was able to go on line and see my account and money duly registered. On Monday, although it wasn't requested, as a new customer, I sent my council tax letter as a prove of address for them and today was returned in the post. I hope this could be helpful for those who are thinking of opening the account. I made a couple of phone calls also and the people there are absolutely lovely.  

Just for balance...

New Melton customer, sent Adcock RS application form off 1st class w/ cheque on 17/03

Cheque cashed 21/03.

No communication whatsoever from Melton to date.

Melton
I received confirmation letter and card (simplified version of passbook) the day after my cheque was cashed.

Kim_13

flaneurs_lobster said:

francoghezzi said:

flaneurs_lobster said:

francoghezzi said:

flaneurs_lobster said:

francoghezzi said:

Melton Adcock Regular Saver

A 5 star service from Melton. I sent my application form on Monday, the account has been opened and funded yesterday and today I was able to go on line and see my account and money duly registered. On Monday, although it wasn't requested, as a new customer, I sent my council tax letter as a prove of address for them and today was returned in the post. I hope this could be helpful for those who are thinking of opening the account. I made a couple of phone calls also and the people there are absolutely lovely.  

Just for balance...

New Melton customer, sent Adcock RS application form off 1st class w/ cheque on 17/03

Cheque cashed 21/03.

No communication whatsoever from Melton to date.

I paid with electronic transfer from my nominated account, so much easier than writing and sending a check that is not a 'must' for them. Anyone can chose to make even the first payment from bank order just ticking the option in the application form. I guess this makes the process really quick. When the phone me to inform me that the account had been opened I was given sort code, account and reference for my bank and sent the first payment in a minute. Now waiting for next Tuesday to pay for the second calendar month

I'm guessing that you were an existing customer? Remember I am a new customer, no customer id, no logon details, no account number, no way of knowing if my application has even been accepted other than a cashed cheque.

A simple email acknowledgement of receipt I'd expect as a bare minimum after 10 days.

I am a new customer as I wrote in my post. Today I phoned them to check if the payment had been received and after they said everything was fine I was given my customer id and the first part of the password to go on line. The second part came by e mail 3 minutes later and using those details I was able to log in and see my account on line. A simple phone call on Tuesday to ask for my current account details in order to send my electronic payment and a simple phone call today in order to know that the money were on my account and to be able to log in. Up and running. No check, no medieval stuff, just quick and easy. 

OK I take your point, if I had been more proactive and made contact by phone I may have been able to expedite the process. Although if I had wanted an account I had to operate by phone I may have looked elsewhere.

I'll assume that I have an open RS and will give Melton until 01/04 (when I could fund the next month) to confirm details. I'm not minded to spend more time on this account, it's rather confirmed my prejudices against filling out paper application forms and writing cheques. I'm down £1.65 postage, the price of an envelope and a week's interest on £150.

I opened the Issue 6 as a new customer in September 2024, also with a cheque. It became apparent from posts here that those opting for FP on account opening are telephoned with the details - so a cheque would be the better option for those likely to be at work when a call comes, living in poor signal areas or with other difficulties using the phone. The passbook took two weeks to get to me, but having checked, the deposit was dated in the passbook 3 days prior to the cheque leaving my account - so you will have an open RS.

Several other letters arrived ahead of the passbook, I remember posting here about it as it felt as though another was missing. A forumite found a workaround to avoid phoning them for a password to be sent out as instructed in one of the letters: https://forums.moneysavingexpert.com/discussion/6106986/regular-savings-accounts-the-best-currently-available-list/p1456

Now that we know courtesy of Bridlington1 that withdrawals are possible via secure message, it’s only the opening that has to be done by post. Subsequent accounts appear online before anything arrives in the post, so you can get money into them more quickly. Sending a cheque for the minimum and topping up via FP would minimise lost interest while removing the phone faff - existing customers still received calls even though they were able to login to find their new account number. But unless opening early in the month, opening a first account with a full cheque deposit is likely the best way - as the opportunity to max out would be lost if the details didn’t arrive in time, or were not obtained via the customer calling to enquire.

Section62

flaneurs_lobster said:

francoghezzi said:

flaneurs_lobster said:

francoghezzi said:

flaneurs_lobster said:

francoghezzi said:

Melton Adcock Regular Saver

A 5 star service from Melton. I sent my application form on Monday, the account has been opened and funded yesterday and today I was able to go on line and see my account and money duly registered. On Monday, although it wasn't requested, as a new customer, I sent my council tax letter as a prove of address for them and today was returned in the post. I hope this could be helpful for those who are thinking of opening the account. I made a couple of phone calls also and the people there are absolutely lovely.  

Just for balance...

New Melton customer, sent Adcock RS application form off 1st class w/ cheque on 17/03

Cheque cashed 21/03.

No communication whatsoever from Melton to date.

I paid with electronic transfer from my nominated account, so much easier than writing and sending a check that is not a 'must' for them. Anyone can chose to make even the first payment from bank order just ticking the option in the application form. I guess this makes the process really quick. When the phone me to inform me that the account had been opened I was given sort code, account and reference for my bank and sent the first payment in a minute. Now waiting for next Tuesday to pay for the second calendar month

I'm guessing that you were an existing customer? Remember I am a new customer, no customer id, no logon details, no account number, no way of knowing if my application has even been accepted other than a cashed cheque.

A simple email acknowledgement of receipt I'd expect as a bare minimum after 10 days.

I am a new customer as I wrote in my post. Today I phoned them to check if the payment had been received and after they said everything was fine I was given my customer id and the first part of the password to go on line. The second part came by e mail 3 minutes later and using those details I was able to log in and see my account on line. A simple phone call on Tuesday to ask for my current account details in order to send my electronic payment and a simple phone call today in order to know that the money were on my account and to be able to log in. Up and running. No check, no medieval stuff, just quick and easy. 

OK I take your point, if I had been more proactive and made contact by phone I may have been able to expedite the process. Although if I had wanted an account I had to operate by phone I may have looked elsewhere.

I'll assume that I have an open RS and will give Melton until 01/04 (when I could fund the next month) to confirm details. I'm not minded to spend more time on this account, it's rather confirmed my prejudices against filling out paper application forms and writing cheques. I'm down £1.65 postage, the price of an envelope and a week's interest on £150.

Melton.

My cheque wasn't cleared until two days after I got my letter and card, and the deposit is shown as credited two days before that.  So you may not have lost so much interest.

In defence of making first deposits by cheque, some banks/building societies allow (sometimes voided) cheques as a means of ID which can make the ID requirements easier. They can also be useful when applying by post near the end of the month, as generally the cheque will be credited when the staff process the application meaning the money reaches the account before the month end, whereas needing to wait for account details to be able to make the first deposit by FP may mean the first deposit is delayed to the next month.  Several of us have benefited from this with Monmouthshire BS, for example.

zombie404

WillPS said:

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.

So do you mean if I took out the full 5000 from NatWest reg saver in march I could put the full 5000 back in before the end of march but after march it would revert back to 150 per month

figgyc

Anyone whose Melton Adcock Regular Saver has finished opening - on the online viewer is the deposit counted as on the application date, the date the cheque is cleared, or something else?

I've only just sent my application (had to wait for my chequebook to arrive - never needed one before!) and worried the first cheque will end up being my April deposit and I'll miss March. Not that there's anything I can do about it mind, (also should probably have posted before I spent the extra on a first class stamp...) but will affect how much I need to take out of other accounts to do April's round of RS deposits.  Cheers

flaneurs_lobster

Section62 said:

flaneurs_lobster said:

francoghezzi said:

flaneurs_lobster said:

francoghezzi said:

flaneurs_lobster said:

francoghezzi said:

Melton Adcock Regular Saver

A 5 star service from Melton. I sent my application form on Monday, the account has been opened and funded yesterday and today I was able to go on line and see my account and money duly registered. On Monday, although it wasn't requested, as a new customer, I sent my council tax letter as a prove of address for them and today was returned in the post. I hope this could be helpful for those who are thinking of opening the account. I made a couple of phone calls also and the people there are absolutely lovely.  

Just for balance...

New Melton customer, sent Adcock RS application form off 1st class w/ cheque on 17/03

Cheque cashed 21/03.

No communication whatsoever from Melton to date.

I paid with electronic transfer from my nominated account, so much easier than writing and sending a check that is not a 'must' for them. Anyone can chose to make even the first payment from bank order just ticking the option in the application form. I guess this makes the process really quick. When the phone me to inform me that the account had been opened I was given sort code, account and reference for my bank and sent the first payment in a minute. Now waiting for next Tuesday to pay for the second calendar month

I'm guessing that you were an existing customer? Remember I am a new customer, no customer id, no logon details, no account number, no way of knowing if my application has even been accepted other than a cashed cheque.

A simple email acknowledgement of receipt I'd expect as a bare minimum after 10 days.

I am a new customer as I wrote in my post. Today I phoned them to check if the payment had been received and after they said everything was fine I was given my customer id and the first part of the password to go on line. The second part came by e mail 3 minutes later and using those details I was able to log in and see my account on line. A simple phone call on Tuesday to ask for my current account details in order to send my electronic payment and a simple phone call today in order to know that the money were on my account and to be able to log in. Up and running. No check, no medieval stuff, just quick and easy. 

OK I take your point, if I had been more proactive and made contact by phone I may have been able to expedite the process. Although if I had wanted an account I had to operate by phone I may have looked elsewhere.

I'll assume that I have an open RS and will give Melton until 01/04 (when I could fund the next month) to confirm details. I'm not minded to spend more time on this account, it's rather confirmed my prejudices against filling out paper application forms and writing cheques. I'm down £1.65 postage, the price of an envelope and a week's interest on £150.

Melton.

My cheque wasn't cleared until two days after I got my letter and card, and the deposit is shown as credited two days before that.  So you may not have lost so much interest.

In defence of making first deposits by cheque, some banks/building societies allow (sometimes voided) cheques as a means of ID which can make the ID requirements easier. They can also be useful when applying by post near the end of the month, as generally the cheque will be credited when the staff process the application meaning the money reaches the account before the month end, whereas needing to wait for account details to be able to make the first deposit by FP may mean the first deposit is delayed to the next month.  Several of us have benefited from this with Monmouthshire BS, for example.

As is the way with all moaning about tardiness, an hour after posting my winge, today's post included all the necessary to get full access to my Melton account and indeed, my initial deposit was credited before my cheque cleared. 

And yes, the Melton customer service people are lovely.

flaneurs_lobster

zombie404 said:

WillPS said:

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.

So do you mean if I took out the full 5000 from NatWest reg saver in march I could put the full 5000 back in before the end of march but after march it would revert back to 150 per month

This is what has been claimed. If you decide to give it a go please let us know how it goes - haven't the cojones to try it myself.

flaneurs_lobster

figgyc said:

Anyone whose Melton Adcock Regular Saver has finished opening - on the online viewer is the deposit counted as on the application date, the date the cheque is cleared, or something else?

I've only just sent my application (had to wait for my chequebook to arrive - never needed one before!) and worried the first cheque will end up being my April deposit and I'll miss March. Not that there's anything I can do about it mind, (also should probably have posted before I spent the extra on a first class stamp...) but will affect how much I need to take out of other accounts to do April's round of RS deposits.  Cheers

Initial deposit is shown on date of receipt of application (day after I posted it), three days before the cheque cleared.

Kim_13

figgyc said:

Anyone whose Melton Adcock Regular Saver has finished opening - on the online viewer is the deposit counted as on the application date, the date the cheque is cleared, or something else?

I've only just sent my application (had to wait for my chequebook to arrive - never needed one before!) and worried the first cheque will end up being my April deposit and I'll miss March. Not that there's anything I can do about it mind, (also should probably have posted before I spent the extra on a first class stamp...) but will affect how much I need to take out of other accounts to do April's round of RS deposits.  Cheers

Form dated 12/3, though it would’ve gone in the post on 13/3, as we don’t have a second collection here and I had missed it by the time I had a chance to fill out the application. Cheque deposit dated online 18/3, left my bank on 19/3 (I’m guessing they make sure it clears before putting the document in the post) and card and letter arrived 22/3. 

They do share the applications around the branches for processing - not necessarily sending it to the branch closest to you.