The Top Regular Savers Discussion Thread

masonic

s71hj said:

Re Coventry withdrawals 
Does anybody know how quickly from online request the money arrives in your bank account. I requested yesterday and it suggested that was the day of the withdrawal but I'm assuming Monday at earliest for money to arrive.

Usually next working day, I've usually received late morning.

s71hj

masonic said:

s71hj said:

Re Coventry withdrawals 
Does anybody know how quickly from online request the money arrives in your bank account. I requested yesterday and it suggested that was the day of the withdrawal but I'm assuming Monday at earliest for money to arrive.

Usually next working day, I've usually received late morning.

Very useful info, thanks for taking the trouble to reply, much appreciated. 

orange-juice

I've just realised/remembered that the Coventry Sunny Day Saver account reduced its interest rate, which doesn't make it as attractive for me (accounting for tax on savings interest). I've continued to pay in £150 per month since the beginning.

I might pull the full lot out, then transfer £10 in to enter the prize draw for the flutter and then withdraw it, each month. From what I can see from the t&cs , the balance doesn't need to increase month to month, unlike the Start to Save from Nationwide a while ago.

Does anyone else do this? Has anyone even won?

Kim_13

orange-juice said:

I've just realised/remembered that the Coventry Sunny Day Saver account reduced its interest rate, which doesn't make it as attractive for me (accounting for tax on savings interest). I've continued to pay in £150 per month since the beginning.

I might pull the full lot out, then transfer £10 in to enter the prize draw for the flutter and then withdraw it, each month. From what I can see from the t&cs , the balance doesn't need to increase month to month, unlike the Start to Save from Nationwide a while ago.

Does anyone else do this? Has anyone even won?

Haven’t won, but reduced to minimum funding in February. I think I’ve sufficient funds maturing/otherwise being saved that I won’t need to pull money out early, but at 6% variable (and not a 2 year or indefinite term) it is the lowest on my list with any sort of amount in it. 

I would be interested to know whether it’s possible as I suspect though, at worst I imagine it would be a case of lose 1 draw and then add £10/month until August with no further withdrawals as then the balance would be increasing each month but only get to £50 (or £51 if leaving £1 while drawing down as I believe that is stated as the minimum balance.)

s71hj

masonic said:

s71hj said:

Re Coventry withdrawals 
Does anybody know how quickly from online request the money arrives in your bank account. I requested yesterday and it suggested that was the day of the withdrawal but I'm assuming Monday at earliest for money to arrive.

Usually next working day, I've usually received late morning.

Same question for Monmouthshire building society withdrawal!

HHUK

orange-juice said:
Does anyone else do this? Has anyone even won?

Coventry Sunny Day Saver

I'm happy with the 6% rate and haven't done what you propose, but was lucky enough to win £200 just before last Christmas 

Bridlington1

s71hj said:

masonic said:

s71hj said:

Re Coventry withdrawals 
Does anybody know how quickly from online request the money arrives in your bank account. I requested yesterday and it suggested that was the day of the withdrawal but I'm assuming Monday at earliest for money to arrive.

Usually next working day, I've usually received late morning.

Same question for Monmouthshire building society withdrawal!

Late the same working day if done before the cut off time on a working day (2:30pm(ish) off the top of my head), otherwise next working day in my experience.

s71hj

Bridlington1 said:

s71hj said:

masonic said:

s71hj said:

Re Coventry withdrawals 
Does anybody know how quickly from online request the money arrives in your bank account. I requested yesterday and it suggested that was the day of the withdrawal but I'm assuming Monday at earliest for money to arrive.

Usually next working day, I've usually received late morning.

Same question for Monmouthshire building society withdrawal!

Late the same working day if done before the cut off time on a working day (2:30pm(ish) off the top of my head), otherwise next working day in my experience.

Brilliant thanks. I think this means I've resolved my short term cash flow problem and so I'm glad I've maxed out my isa last night at the expense of only 15 quid left in my current account!!!

Bridlington1

s71hj said:

Bridlington1 said:

s71hj said:

masonic said:

s71hj said:

Re Coventry withdrawals 
Does anybody know how quickly from online request the money arrives in your bank account. I requested yesterday and it suggested that was the day of the withdrawal but I'm assuming Monday at earliest for money to arrive.

Usually next working day, I've usually received late morning.

Same question for Monmouthshire building society withdrawal!

Late the same working day if done before the cut off time on a working day (2:30pm(ish) off the top of my head), otherwise next working day in my experience.

Brilliant thanks. I think this means I've resolved my short term cash flow problem and so I'm glad I've maxed out my isa last night at the expense of only 15 quid left in my current account!!!

I tend to be a tad riskier with cashflow, I don't keep money in a current account for more than a few hours unless it pays more interest than I can get elsewhere and I've a £2.5k arranged OD with Nationwide so quite often go deep into that when funding regular savers after having set up a payment from the likes of Coventry BS the day before to arrive in the account to take the balance back up to nil.

Bigwheels1111

Bridlington1 said:

s71hj said:

Bridlington1 said:

s71hj said:

masonic said:

s71hj said:

Re Coventry withdrawals 
Does anybody know how quickly from online request the money arrives in your bank account. I requested yesterday and it suggested that was the day of the withdrawal but I'm assuming Monday at earliest for money to arrive.

Usually next working day, I've usually received late morning.

Same question for Monmouthshire building society withdrawal!

Late the same working day if done before the cut off time on a working day (2:30pm(ish) off the top of my head), otherwise next working day in my experience.

Brilliant thanks. I think this means I've resolved my short term cash flow problem and so I'm glad I've maxed out my isa last night at the expense of only 15 quid left in my current account!!!

I tend to be a tad riskier with cashflow, I don't keep money in a current account for more than a few hours unless it pays more interest than I can get elsewhere and I've a £2.5k arranged OD with Nationwide so quite often go deep into that when funding regular savers after having set up a payment from the likes of Coventry BS the day before to arrive in the account to take the balance back up to nil.

I'm with you on that.

I use First Direct to fund my reg savers.

FD accounts let you go overdrawn without any penalty as long as the account is in credit by 23.45pm the same day.

I go 4k into the red on the first of the month.

This way max the interest I get.