The Top Regular Savers Discussion Thread

Gers

Mine is 05 June. I got the T&C leaflet in the post and later phoned Principality. The agent arranged the opening of the new RS3, set in motion the transfer of £200 for first payment and the planned faster payment of the remaining £1k. Took under five minutes. 

Section62

Stargunner said:

allegro120 said:

surreysaver said:

subjecttocontract said:

One of the Principality maturity options was a reg saver iss 3, I didn't see anything to say can't pick this option if you already have one, so I did......and no, like most other savers, I didn't read the t&cs cover to cover. Not had a message saying can't do it from them yet......couldn't care less if I get one......I'll just put the money somewhere else.

You could just make an assumption, if they've given you the option to have a 6 Month Regular Saver, that they'll let you have one if you've already got one (or two, or three)

I don't know how widespread this "Lisa" action is, but it will certainly bring a number of complaints from disgruntled customers who will demand Principality to honour the pledge. "Lisa" project might turn out to be very counterproductive. I'd imagine far too much pressure on staff who are answering phone calls, massages and e-mails and those who have to deal with complaints.

If Principality really wants to stick to the "1 per issue" rule they should simply stop including it as a maturity option.  There would be no confusion and no need for "Lisa" services.

There are no grounds for complaint, as they are adhering to their t&c’s.

Their maturity options offer all of their savings accounts. It is your decision if you want to apply for an issue that you already hold, as you risk that it could get spotted and rejected.

"clear fair and not misleading"

Fair enough if they say the selected maturity option isn't available to you because you already hold an account of that type, but to show the maturity instruction has been accepted and will be actioned on the day of maturity whilst in parallel emailing to say it won't be (but continuing to say it will), and then not giving an option to switch to a different maturity product, isn't treating customers fairly.

Especially when it appears it may only be one member of staff 'enforcing' this T&C, whilst the others don't have a problem with it.  Which in turn leads to the question whether the T&C's are misleading because Principality's intent was in fact to allow more than one account if opened as a maturity product.  (this isn't a brand new problem, they've had 6+ months to spot it and sort it)

flaneurs_lobster

@Section62 If you are going to have a major huffy with PrinBS over this, any chance you could wait until June 6th please?

Section62

flaneurs_lobster said:

@Section62 If you are going to have a major huffy with PrinBS over this, any chance you could wait until June 6th please?

I'm not planning a "major huffy", quite the opposite.  Just pointing out that "There are no grounds for complaint" isn't correct.

We'd possibly all be better of if everyone stopped talking about the subject, and wait to see what happens.

flaneurs_lobster

Section62 said:

We'd possibly all be better of if everyone stopped talking about the subject, and wait to see what happens.

Yes. This.

shirley999

We’d all be better off if Principality regular savers lasted more than 6 months.  It means we never build up much of a balance so although it’s an attractive interest rate it’s on a really small balance, half as much as if the term was 12 months.  Eg £200 per month, average balance over 6 month term is £600, average if a 12-month term would be £1200.  Certainly not worth the hassle caused by the uncertainty being discussed.

Over62

My Principality regular saver issue 2 also matures on 5 June.  My maturity instructions to open a new issue 3 (my third) have so far been accepted.  [Removed by Forum Team] hasn't noticed me.

*Keeps head down*

chris_the_bee

mhoc said:

I've had an email today through from Saffron regarding the members loyalty saver due to mature on the 12th of June. There is supposed to be a  ‘maturity manager’ feature on the page but I cant see it so I've messaged them. I've asked to convert into a small saver but I am still hoping for something a lot better coming up in members month ....

Saffron
The link only appears 14 days prior to maturity so you are a few days too early.

trickydicky14

shirley999 said:

We’d all be better off if Principality regular savers lasted more than 6 months.  It means we never build up much of a balance so although it’s an attractive interest rate it’s on a really small balance, half as much as if the term was 12 months.  Eg £200 per month, average balance over 6 month term is £600, average if a 12-month term would be £1200.  Certainly not worth the hassle caused by the uncertainty being discussed.

It is what it is, if it's too much hassle then walk on by. Yes we would all love better deals but that's what is on offer.

flaneurs_lobster

shirley999 said:

We’d all be better off if Principality regular savers lasted more than 6 months.  It means we never build up much of a balance so although it’s an attractive interest rate it’s on a really small balance, half as much as if the term was 12 months.  Eg £200 per month, average balance over 6 month term is £600, average if a 12-month term would be £1200.  Certainly not worth the hassle caused by the uncertainty being discussed.

We'd all be better off if Principality's regular savers lasted for 5 years, were fixed at 20% and allowed deposits of £5k a month.

But they don't. 

You have to make the best of the products that are available at any one time. If you consider the returns too piddling for the effort required to fund them then simply don't bother.

Are you a member of PrinBS? Make your points via the AGM or look at their Member Pulse membership.