The Top Regular Savers Discussion Thread

Bobblehat

Bridlington1 said:

Stargunner said:

Aidanmc said:

Just applied for my first ever First Direct RS. 

Says it may take 3 working days to open and first deposit will be taken then.

I set monthly deposit at £300. If it happens there is no cash in the FD current account at the time deposit is to be taken, what happens?

Can you not make sure that there is £300 in it.

I just don't like keeping money in current accounts earning no interest, even if it is only overnight so I just let FD go overdrawn briefly on the day the regular saver SO goes out. I've an arranged OD with them that covers it and they've a rather generous cut off for charging overdraft fees of 23:45 on the day it goes overdrawn.

I do the same if I write cheques, pay the cheque from an account with an arranged OD facility and then put the money to cover the cheque in my current account the day it goes overdrawn.

I take my hat off to an "Extreme MSE'r"!

subjecttocontract

It's so much easier to pay by standing order and not get upset by loosing what is probably a few pennies in lost interest. That way you can get on with the more important things in your life.

savethepandas

allegro120 said:

snow62 said:

MonBS letter with signature form arrived today.  Not sure why they felt the need to send a full-sized envelope, folded into four - surely that costs them more (large letter).  Dug out smaller one from previously as it's easier to post into the small letter box up the road. Added account online, now showing as 'Pending'.  Sent payment even though letter says won't be able to transact until signature form is received; however, CoP fine so hope it's credited today.

A4 size envelope was excessive for what needs to be posted . I guess they've just ran out of small envelopes. 

I've sent payment (CoP fine) and it was returned back to my bank the next day.

I received an A4 envelope, a one page signature form and a "tell us what you think" postcard.

OH received an A5 envelope, a two page signature form and no postcard.

The covering letters had been formatted differently, but both made reference to their "Excellent Customer Service"

subjecttocontract

Monmouth BS CEO pay estimated to be £229,253 (median pay). I think members would expect things to run a little better generally and I guess the ' buck stops with the CEO'.

brucefan_2

Re Monmouthshire

Account opening via the app took just over 11 hours (overnight)  of the screen trundling away telling me it would be a 'few minutes'

Paid £5 into the account from Lloyds at just past midday (COP not happy about it - checked and double checked all numbers correct) - no deposit showing in the account as at time of posting this message.

I had hoped to get £500 in today and then another lot tomorrow - looking unlikely at the moment.

skitskut

Aidanmc said:

Stargunner said:

Aidanmc said:

Just applied for my first ever First Direct RS. 

Says it may take 3 working days to open and first deposit will be taken then.

I set monthly deposit at £300. If it happens there is no cash in the FD current account at the time deposit is to be taken, what happens?

Can you not make sure that there is £300 in it.

I could yes, but if i thought it was going to take 3 working days to open it would be sitting there until maybe next Tuesday. But anyway, i've set up a payment to go to the FD current account tomorrow, so if it gets opened tomorrow all good.

I'm used to manually funding my RS's thats all, will just have to remember to send the £300 to FD current acc day before it's due to be collected.

I set up a future dated payment from Tesco to HSBC/FD for the day the £250/£300 is due. Tesco sends it out about 3am that day. Not had any issues.

bioboybill

Were all the Virgin Money 10% RS supposed to mature today? I didn't make my first payment until August 5th 2024, but still expected the final interest to be added today, but it wasn't.

Middle_of_the_Road

bioboybill said:

Were all the Virgin Money 10% RS supposed to mature today? I didn't make my first payment until August 5th 2024, but still expected the final interest to be added today, but it wasn't.

Everyone's matured today, but interest for July won't be credited until September

exel1966

bioboybill said:

Were all the Virgin Money 10% RS supposed to mature today? I didn't make my first payment until August 5th 2024, but still expected the final interest to be added today, but it wasn't.

Middle_of_the_Road said:

bioboybill said:

Were all the Virgin Money 10% RS supposed to mature today? I didn't make my first payment until August 5th 2024, but still expected the final interest to be added today, but it wasn't.

Everyone's matured today, but interest for July won't be credited until September

None, have matured yet, they mature overnight tonight.

Withdraw current funds manually tomorrow and then request closure whereby you'll receive further interest due. If you don't close you wont receive final interest until 30/09 and it'll only be earning a nominal amount in the meantime.
This doesn't need further input as it's been discussed at detail here in the past 2 weeks.

ColdIron

bioboybill said:

Were all the Virgin Money 10% RS supposed to mature today? I didn't make my first payment until August 5th 2024, but still expected the final interest to be added today, but it wasn't.

It matures today but won't become an Everyday Saver until tomorrow (at 1.75%)

Interest is paid quarterly and the last one was the beginning of July so the next one (for July's 10.38% interest and the lower rate for August and September) will be at the end of September

If you want the money early, and why wouldn't you, you will have to close the account