The Top Regular Savers Discussion Thread

friolento

ForumUser7 said:

Does MBS have form for closing duplicates?

Don't think so. But remember: past performance is no guarantee for future performance 

mhoc

Monmouthshire
- on the app I can only get the OTP by email - if I send for a code via the mobile number it never arrives.

 I opened a new regular saver on the app- this took barely a minute and and then a letter by email with the details and it showed immediately when I logged out and back in. 
I can now fund it and set up the standing order.

I  have come to the conclusion that the saver that I opened on Friday via the website has failed somewhere along the line so it was never going to happen. 

Bobblehat

snow62 said:

Bobblehat said:

Have a look at this ... based on the MonBS RS and typical EA feeder account paying 4.5% .....

I would argue, as indicated, by masonic, that you're not comparing like with like - first column goes from 1/8/25 to 1/8/26, last column from 29/8/25 to 29/8/26. I would look at 1/8/25 to 29/8/26 on both, including interest earned in EA feeder account after and before respectively of funding RS.  May try to work this out for my own satisfaction, but won't post anything further unless anyone's interested - I expect they'll come out similar but still think not funding earlier is counter-intuitive!

I think you've missed the point! I am deliberately not comparing like with like. Starting the late(!) funding column at 1/8 would mean it was not late funding! The whole point of the late funding comparison is to enable £500 (in this example) to be deposited twice within a few days, i.e. 29th Aug and the 1st Sept, as opposed to a regular monthly deposit, be it on the 1st, 15th or any other day of the month! And surely, like with like comparisons would have to be done for a whole exact year in each case?

I could have chosen 1st payment on 31st July and 2nd payment on 1st Aug for the late funding column, but a) knew my account was very unlikely to be open in time for that scenario... and b) would be better in my particular circumstances to cough up the £1000 needed as late as possible in August as I could! I understand that the EA figures I've given are in isolation to any other funds there might be in the EA account and also assumes that there isn't £6000 or even £1000 sat waiting in the EA between 1st Aug and 29th Aug gaining only 4.5% .... in my case there isn't.

I think I've given as much information as needed for anyone who thinks my table doesn't reflect a particular scenario that they are interested in, to construct their own table. Thanks to everyone who has shown ....err .... interest!

ChewyyBacca

friolento said:

MBS again

My FP deposit of yesterday is now showing in the app (not online), with a credit date of yesterday.

The app is working fine for me (on iOS), including the 2FA code at the first attempt. I just click on pink shaded bar under the "please enter......" message, and I can then click on "From Messages" to have the code automatically entered. Click "Submit", and I am in. 

It appears that the app would allow me to apply for yet another Issue 8. I won't be doing this as it would be taking the proverbial and I am happy with two 

Did you fund both the Iss8?

Bridlington1

mhoc said:

Monmouthshire
- on the app I can only get the OTP by email - if I send for a code via the mobile number it never arrives.

 I opened a new regular saver on the app- this took barely a minute and and then a letter by email with the details and it showed immediately when I logged out and back in. 
I can now fund it and set up the standing order.

I  have come to the conclusion that the saver that I opened on Friday via the website has failed somewhere along the line so it was never going to happen. 

In my experience accounts opened online are processed manually and you should get a letter with the account number by post. Once you've got the account number you'd need to add it manually to online banking so the one opened by the website probably won't've failed but is simply still being processed.

badger09

MONBS RS
Existing customer, IOS phone, I managed to open this RS via app, around 09.15 yesterday, after several attempts, multiple SMS OTPs, & being unable to log in. Account appeared online shortly afterwards. 

Funded with a small test amount yesterday pm which I expected to appear Monday morning. 

Couldn’t log in at all this morning but have just succeeded after 2 OTPs, and surprised to see funds have already ‘cleared’. Balance of £500 sent. 

App needs some work but pleased to see faster credits. 

badger09

Reg_Smeeton said:

Re:  Monmouthshire Exclusive RS issue 2 ( the 4.9% one)

I thought this account had no withdrawals before maturity but I can see online that I have the option to withdraw or transfer to my other MBS accounts. Is this due to the interest rate recently dropping or was I mistaken in my assumption? Just assessing my options as mine still has six weeks to run and could do with freeing up some money to fund more competitive RS’s at the moment

I queried this with MONBS and was told it was not possible to close this RS. Mine was due to mature late August but I closed it online several months early. Expected amount of interest was credited to date of closure. 

friolento

ChewyyBacca said:

friolento said:

MBS again

My FP deposit of yesterday is now showing in the app (not online), with a credit date of yesterday.

The app is working fine for me (on iOS), including the 2FA code at the first attempt. I just click on pink shaded bar under the "please enter......" message, and I can then click on "From Messages" to have the code automatically entered. Click "Submit", and I am in. 

It appears that the app would allow me to apply for yet another Issue 8. I won't be doing this as it would be taking the proverbial and I am happy with two 

Did you fund both the Iss8?

Planning to do #2 tomorrow evening, after Cahoot’s end of day, which I believe is 9pm-ish. Then sit with 🤞🤞

judexx

Monmouth

Just wanted to say a big thank you to all the forumities (esp @roked )who helped new customers to open a RS in the app and deal with their 2FA probs 

Mission accomplished 😀

snow62

Bobblehat said:

I think I've given as much information as needed for anyone who thinks my table doesn't reflect a particular scenario that they are interested in, to construct their own table. Thanks to everyone who has shown ....err .... interest!

Well, after slaving over a hot spreadsheet, I'm prepared to concede that, however counter-intuitive, waiting until the end of the month to make a first payment does appear to be slightly more beneficial than middle of the month, and a similar amount more again than beginning of the month.  With the example given, MonBS, £500 per month, 6% against 4.5%, it's around £3.40 extra interest overall from waiting until end of month rather than mid-month by my calculations.  This is assuming that over a 13 month period all funds are in the feeder account when not in the RS, whether before or after RS is active.  An interesting intellectual exercise in a geeky sort of way.  I'll still open and fund at the earliest opportunity, though, to avoid possibility of accounts being withdrawn.  Back to the cricket!