The Top Regular Savers Discussion Thread

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!

PRAISETHESUN

snow62 said:

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!

Amen. Let me buy you a pint... The interest will just about cover it, depending on whereabouts you live mate 🙂

Bridlington1

PRAISETHESUN said:

snow62 said:

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!

Amen. Let me buy you a pint... The interest will just about cover it, depending on whereabouts you live mate 🙂

I'd offer the same but as anyone who has met me would testify, I'm reluctant to part with money so all you'd be getting out of me is an envelope containing a teabag with a note saying ``have a drink on me".

WillPS

snow62 said:

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!

It also assumes the arbitrage between the rate MonBS offer and the feeder account will remain static.

If last year's exclusive account is anything to go by, it won't.

snow62

WillPS said:

It also assumes the arbitrage between the rate MonBS offer and the feeder account will remain static.

If last year's exclusive account is anything to go by, it won't.

Indeed.  The variables that come into play make it more of a theoretical scenario than what will actually happen.

clairec666

Well, I appreciate a good spreadsheet. I imagine most followers of this thread will have one to manage their assorted savings accounts. Mine has some fancy conditional formatting based on a logarithmic scale.

Bottom line - funding at the end of the month could gain you a few pounds, but for some people it might not be worth it, a lot depends on your circumstances and how much money you're able to put in right now.