The Top Regular Savers Discussion Thread

qbadger

AmityNeon said:

qbadger said:

Vernon BS Online Regular Saver

Deposits on non-working days: can anyone confirm whether deposits on non-working days are in fact treated as having been received the same day, please?

The value/posted dates for my deposits on Sunday 01 Dec and New Year's Day are next working day (02/12/24 and 02/01/25) in the transaction history.

Does the word 'value' appear anywhere? Is there any indication in your Vernon BS transaction history indicating the dates of the non-working days the payments were sent?

No. Nothing in the transaction history to suggest that deposits are processed on non-working days. 

AmityNeon

qbadger said:

AmityNeon said:

qbadger said:

Vernon BS Online Regular Saver

Deposits on non-working days: can anyone confirm whether deposits on non-working days are in fact treated as having been received the same day, please?

The value/posted dates for my deposits on Sunday 01 Dec and New Year's Day are next working day (02/12/24 and 02/01/25) in the transaction history.

Does the word 'value' appear anywhere? Is there any indication in your Vernon BS transaction history indicating the dates of the non-working days the payments were sent?

No. Nothing in the transaction history to suggest that deposits are processed on non-working days.

In that case I think it's likely that payments sent on non-working days are only received by Vernon BS (for interest purposes) on the next working day.

Assuming you've always deposited £250 per month, if the opening deposit was somehow sent on Sunday 10 November and you received £0.93 interest at the end of the month, then non-working days are included.

badger09

qbadger said:

badger09 said:

Monmouthshire BS Exclusive RS2

Apologues if already covered.
My SO scheduled for 1st left BoS 2nd as expected but is not yet showing in MONBS

I don’t always check each month but is this normal? Anyone had SO leave on 2nd and already credited? 

Yes.         

Yes: This is normal for MONBS?
Yes: Your SO left on 2nd & is already credited?
Yes: Both of the above? 🤔

AmityNeon

badger09 said:

qbadger said:

badger09 said:

Monmouthshire BS Exclusive RS2

Apologues if already covered.
My SO scheduled for 1st left BoS 2nd as expected but is not yet showing in MONBS

I don’t always check each month but is this normal? Anyone had SO leave on 2nd and already credited?

Yes.

Yes: This is normal for MONBS?
Yes: Your SO left on 2nd & is already credited?
Yes: Both of the above? 🤔

In my experience, Mon BS updates their online services once a day around 7 AM, but this is unlikely to reflect any payments received the previous day (working day or not). My manual Faster Payment sent in the evening of 1st Jan only appeared today (3rd Jan), but the posted transaction date is backdated to 1st Jan.

SJMALBA

Re. Mon BS

IME, it takes 2 days for the deposit to show in the online account, but is dated from the day it was sent - I sent mine by FPI on the 1st, and it's showing online today, dated the 1st.

SJMALBA

Kim_13 said:

Just received the proceeds from West Brom, over 24 hours after requesting closure of the maturity account. Wondering if they are a next day as standard, like YBS et al.

The wait for the £50 to hit my Saffron RS continues. I did an internal transfer last month and it took ages for that option to appear on the 2nd, so I went for Faster Payment this time thinking it would be quicker. I have successfully used the payee before so no chance of wrong details.

FWIW, sent my deposits via FPI to Saffron on the 1st, both showing online today, dated 2nd.

qbadger

AmityNeon said:

qbadger said:

AmityNeon said:

qbadger said:

Vernon BS Online Regular Saver

Deposits on non-working days: can anyone confirm whether deposits on non-working days are in fact treated as having been received the same day, please?

The value/posted dates for my deposits on Sunday 01 Dec and New Year's Day are next working day (02/12/24 and 02/01/25) in the transaction history.

Does the word 'value' appear anywhere? Is there any indication in your Vernon BS transaction history indicating the dates of the non-working days the payments were sent?

No. Nothing in the transaction history to suggest that deposits are processed on non-working days.

In that case I think it's likely that payments sent on non-working days are only received by Vernon BS (for interest purposes) on the next working day.

Assuming you've always deposited £250 per month, if the opening deposit was somehow sent on Sunday 10 November and you received £0.93 interest at the end of the month, then non-working days are included.

The £250 opening deposit was sent (and credited) on Mon 11 Nov. The interest received on 30 Nov 24 was £0.89, reconciling to 20 days at 6.5%. Unfortunately my case doesn't really help with reverse engineering the answer to this question regarding the treatment of deposit on non-working day right now - for that we require the data from someone who sent funds on a non-working day prior to 30 Nov 24.

AmityNeon

qbadger said:

AmityNeon said:

qbadger said:

AmityNeon said:

qbadger said:

Vernon BS Online Regular Saver

Deposits on non-working days: can anyone confirm whether deposits on non-working days are in fact treated as having been received the same day, please?

The value/posted dates for my deposits on Sunday 01 Dec and New Year's Day are next working day (02/12/24 and 02/01/25) in the transaction history.

Does the word 'value' appear anywhere? Is there any indication in your Vernon BS transaction history indicating the dates of the non-working days the payments were sent?

No. Nothing in the transaction history to suggest that deposits are processed on non-working days.

In that case I think it's likely that payments sent on non-working days are only received by Vernon BS (for interest purposes) on the next working day.

Assuming you've always deposited £250 per month, if the opening deposit was somehow sent on Sunday 10 November and you received £0.93 interest at the end of the month, then non-working days are included.

The £250 opening deposit was sent (and credited) on Mon 11 Nov. The interest received on 30 Nov 24 was £0.89, reconciling to 20 days at 6.5%. Unfortunately my case doesn't really help with reverse engineering the answer to this question regarding the treatment of deposit on non-working day right now - for that we require the data from someone who sent funds on a non-working day prior to 30 Nov 24.

I'm not personally aware of any provider that only shows post dates whilst also paying interest from a differing/earlier true transaction date. Where the true transaction date differs from the post date, only some providers show a record of the true transaction date, and of those that do, only some pay interest from the true date (sometimes specifically labelled the 'value' or 'effective' date). Skipton BS is an oddball in that post dates can match true transaction dates for non-working days, but interest is still only earned from the next working day (and they do not explicitly list the value/effective date).

Bobblehat

Furness BS

Sorry to be so vague but Branch Staff keeping their cards close to their chests today. I did get that there is a new RS on the way shortly, according to internal email but no hint of rate or if Loyalty type or not. ... so keep watching!

happybagger

Yes I had that chat the other day with them (furness), described as a Christmas saver, coming out during Jan, said "couldn't remember" the rate but it was "more than the current one" (sitting at 4.75). Did say they'd open it up by phone if need be, save a branch visit.

In case it mirrors last year's, 6%, it went live 12 Jan 2024.