The Top Regular Savers Discussion Thread

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.

allegro120

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.

I prefer including a cheque for postal applications, find it convenient.  As soon as the cheque is cashed I get notification from my bank on my phone, this is an instant confirmation that my BS account is opened.  There's no loss of interest for me because I don't keep any money in waiting in my current account, just replacing the money bringing the balance back to zero.  

Aidanmc

Just a quick query regarding Halifax RS

My RS matured and balance automatically moved to my existing instant saver

The RS remained with a zero balance, but when i try and deposit into RS i get a error message saying i've exceeded monthly limit.

Is there a way around this, or just wait to 1 April

Bigwheels1111

Aidanmc said:

Just a quick query regarding Halifax RS

My RS matured and balance automatically moved to my existing instant saver

The RS remained with a zero balance, but when i try and deposit into RS i get a error message saying i've exceeded monthly limit.

Is there a way around this, or just wait to 1 April

If it’s matured, the account is done and finished.
Open the new offer and fund that.
Or open a principality reg savers £200 a month for 6 months at 7.5% not Halifax at 5.5%
Market Harborough 6.0%, West Brom 6.0%

https://moneyfactscompare.co.uk/savings-accounts/regular-savings-accounts/?quick-links-first=false&product-favorites-first=false&sort-order=AER&sort-order-text=Rate

Aidanmc

Bigwheels1111 said:

Aidanmc said:

Just a quick query regarding Halifax RS

My RS matured and balance automatically moved to my existing instant saver

The RS remained with a zero balance, but when i try and deposit into RS i get a error message saying i've exceeded monthly limit.

Is there a way around this, or just wait to 1 April

If it’s matured, the account is done and finished.
Open the new offer and fund that.
Or open a principality reg savers £200 a month for 6 months at 7.5% not Halifax at 5.5%
Market Harborough 6.0%, West Brom 6.0%

https://moneyfactscompare.co.uk/savings-accounts/regular-savings-accounts/?quick-links-first=false&product-favorites-first=false&sort-order=AER&sort-order-text=Rate

The old halifax RS auto renewed, same acc no. etc.

I already have those other RS too.

I think the only way would be to close the RS and open a new one, but i dont see a way to close it online.

Just going to wait to 1 April, thanks

Bridlington1

Aidanmc said:

Bigwheels1111 said:

Aidanmc said:

Just a quick query regarding Halifax RS

My RS matured and balance automatically moved to my existing instant saver

The RS remained with a zero balance, but when i try and deposit into RS i get a error message saying i've exceeded monthly limit.

Is there a way around this, or just wait to 1 April

If it’s matured, the account is done and finished.
Open the new offer and fund that.
Or open a principality reg savers £200 a month for 6 months at 7.5% not Halifax at 5.5%
Market Harborough 6.0%, West Brom 6.0%

https://moneyfactscompare.co.uk/savings-accounts/regular-savings-accounts/?quick-links-first=false&product-favorites-first=false&sort-order=AER&sort-order-text=Rate

The old halifax RS auto renewed, same acc no. etc.

I already have those other RS too.

I think the only way would be to close the RS and open a new one, but i dont see a way to close it online.

Just going to wait to 1 April, thanks

Try renewing the account into an EA account, from there you should be able to close the account and then open a new regular saver from there.

Aidanmc

Bridlington1 said:

Aidanmc said:

Bigwheels1111 said:

Aidanmc said:

Just a quick query regarding Halifax RS

My RS matured and balance automatically moved to my existing instant saver

The RS remained with a zero balance, but when i try and deposit into RS i get a error message saying i've exceeded monthly limit.

Is there a way around this, or just wait to 1 April

If it’s matured, the account is done and finished.
Open the new offer and fund that.
Or open a principality reg savers £200 a month for 6 months at 7.5% not Halifax at 5.5%
Market Harborough 6.0%, West Brom 6.0%

https://moneyfactscompare.co.uk/savings-accounts/regular-savings-accounts/?quick-links-first=false&product-favorites-first=false&sort-order=AER&sort-order-text=Rate

The old halifax RS auto renewed, same acc no. etc.

I already have those other RS too.

I think the only way would be to close the RS and open a new one, but i dont see a way to close it online.

Just going to wait to 1 April, thanks

Try renewing the account into an EA account, from there you should be able to close the account and then open a new regular saver from there.

Thank you, that worked perfect

Speculator

Aidanmc said:

Bridlington1 said:

Aidanmc said:

Bigwheels1111 said:

Aidanmc said:

Just a quick query regarding Halifax RS

My RS matured and balance automatically moved to my existing instant saver

The RS remained with a zero balance, but when i try and deposit into RS i get a error message saying i've exceeded monthly limit.

Is there a way around this, or just wait to 1 April

If it’s matured, the account is done and finished.
Open the new offer and fund that.
Or open a principality reg savers £200 a month for 6 months at 7.5% not Halifax at 5.5%
Market Harborough 6.0%, West Brom 6.0%

https://moneyfactscompare.co.uk/savings-accounts/regular-savings-accounts/?quick-links-first=false&product-favorites-first=false&sort-order=AER&sort-order-text=Rate

The old halifax RS auto renewed, same acc no. etc.

I already have those other RS too.

I think the only way would be to close the RS and open a new one, but i dont see a way to close it online.

Just going to wait to 1 April, thanks

Try renewing the account into an EA account, from there you should be able to close the account and then open a new regular saver from there.

Thank you, that worked perfect

did it open an Everyday saver automatically with zero balance? If so, close it to avoid this happening in the future.

SJMALBA

Suffolk BS:
As a new customer, Is it likely that opening and funding the 'Online 1 Year Fixed Rate Regular Saver (30.06.2026)' RS on the same day is possible, or are there likely to be delays (e.g. waiting for things through 'snail mail')?

Co-Op Bank:
Similarly, as a new Co-Op Bank customer (and therefore having to open a current account first)? I seem to recall discussion about 'issues' with the Co-Op, but can't remember the details - was this re. difficulties/delays opening accounts?
As far as I can see, the 'Cashminder' bank account is sufficient for opening their RS - is there any point in opening the 'regular' CA instead, if the only reason for opening the CA is to get the RS?

Aidanmc

Speculator said:

Aidanmc said:

Bridlington1 said:

Aidanmc said:

Bigwheels1111 said:

Aidanmc said:

Just a quick query regarding Halifax RS

My RS matured and balance automatically moved to my existing instant saver

The RS remained with a zero balance, but when i try and deposit into RS i get a error message saying i've exceeded monthly limit.

Is there a way around this, or just wait to 1 April

If it’s matured, the account is done and finished.
Open the new offer and fund that.
Or open a principality reg savers £200 a month for 6 months at 7.5% not Halifax at 5.5%
Market Harborough 6.0%, West Brom 6.0%

https://moneyfactscompare.co.uk/savings-accounts/regular-savings-accounts/?quick-links-first=false&product-favorites-first=false&sort-order=AER&sort-order-text=Rate

The old halifax RS auto renewed, same acc no. etc.

I already have those other RS too.

I think the only way would be to close the RS and open a new one, but i dont see a way to close it online.

Just going to wait to 1 April, thanks

Try renewing the account into an EA account, from there you should be able to close the account and then open a new regular saver from there.

Thank you, that worked perfect

did it open an Everyday saver automatically with zero balance? If so, close it to avoid this happening in the future.

I would have an existing Everyday saver, but i'm going to close than now....thanks