The Top Regular Savers Discussion Thread

pecunianonolet

Coop Regular Saver

I opened my reg saver last year in March and the first funding was on the 10th of April. Technically, the saver should mature on the 9th. I usually receive from all institutions either a letter or online message informing me about maturity, when funds are available or when I can open a new one but total radio silence from Coop. I also got a Smart Saver open with them in case they move funds and interest there. 

Coop processes are rather peculiar in some cases so when will I get interest paid and when can I open a new reg saver with them?

friolento

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.

Is this part of a general rule that applies to all building societies (most banks seem to be instant 24/7)? I have been burnt before on getting money back I'd paid into my ns and I saver by debit card so had to scrab around to get the money to prevent going into overdraft so would be useful to know as am beginning to take some money out of some of the no longer competive regular savers.

There is no general rule, though there are more of them sending you the withdrawal by the end of the next working day than those who send it on the same working day if you meet their daily cut off (which may or may not be the same as others). Some will also process your withdrawal request only on the next working day, and then pay out the working day after. Some have other prohibitive rules, such as those you have already discovered at NS&I (not a Building Society) who quite unusually will not let you withdraw money deposited by debit card for an entire working week after deposit. On the other hand, if your NS&I funds are available for withdrawal, you can request them after 22:30 a day and you will have them by lunchtime the next working day

Bottom line: you need to check with the T&Cs / with CS of each company 

saverkev

Market Harborough Building Society Effective from 15 May, your interest rate will decrease from 3.25% to a still competitive 3.05% Gross*/AER**.

Member Monthly Saver Variable interest rate (%) Min & Max balance (per month) Interest paid Current rate  3.25 Gross*/AER** £10 - £3,000 Annually New rate  3.05 Gross*/AER** £10 - £3,000 Annually

friolento

"a still competitive 3.05% Gross AER".

They don't share my definition of competitive

Bridlington1

friolento said:

"a still competitive 3.05% Gross AER".

They don't share my definition of competitive

Depends though, if it was a mortgage it would be rather competitive rate, for a regular saver it'd need to nudge up another 1.35% before I'd add it to the first page of this thread.

bristolleedsfan

Re Coventry withdrawals 

I requested late morning today, arrived by middle of the afternoon.

flaneurs_lobster

friolento said:

"a still competitive 3.05% Gross AER".

They don't share my definition of competitive

Still competitive when compared with savings rates available from other Building Societies with branches on The Square, Market Harborough. *

* Probably.

Chadsman

bristolleedsfan said:

Re Coventry withdrawals 

I requested late morning today, arrived by middle of the afternoon.

Coventry are now doing same day withdrawals?

masonic

Chadsman said:

bristolleedsfan said:

Re Coventry withdrawals 

I requested late morning today, arrived by middle of the afternoon.

Coventry are now doing same day withdrawals?

Not consistently in my experience.

Kim_13

Chadsman said:

bristolleedsfan said:

Re Coventry withdrawals 

I requested late morning today, arrived by middle of the afternoon.

Coventry are now doing same day withdrawals?

Logged in an hour or so ago to redistribute proceeds from a matured Loyalty RS and was able to get same day to Sunny Day Saver but tomorrow to nominated account. Will make sure I request in the morning when Sunny Day comes out - afternoon cut off perhaps?