The Top Regular Savers Discussion Thread

DealSeeker11

ThePirates said:

DealSeeker11 said:

Is anyone having problems logging on via Monbs app? Mine is stuck on the following screen but it’s not given me the options:

2-factor authentication

Please select an option below, to receive a six-digit verification code.

Yep, same problem.
Reinstall didn't help...

I reinstalled and also didn’t help. Signed up for online My Account as a backup

badger09

friolento said:

ThePirates said:

Virgin RS - some good news!

I sorted mine this morning but my wife was at work. 

She's just used the app to transfer her balance, request closure of the RS then via the web link opened a new RS3 and funded it, all in under 5 minutes, no issues.

This pretty much matches my experience, and I have read posts from many others who also opened and funded the new RS today. I appreciate this doesn't help those who for one reason or another have account blocks or other issues, but it would be wrong to say that the VM systems are in a state of general chaos because they aren't actually.

BIB
Agreed. 

While some are clearly having issues withdrawing from the VM matured RS and/or opening the new version, they tend to be very vocal about it. The vast majority of us who had absolutely no problems doing either, don’t post about it. 

trickydicky14

allegro120 said:

VM withdrawals
It appears that 2x£500 per day rule for online banking is no longer enforced.  I've emptied my RS account today online without any problems.

Well just to add to the confusion, when I tried it would not let me take any money out of my account unless I used the app. Reluctantly I used the app and managed to remove all of my money. Later, I attempted to login using the app and it would not go past the first screen. I re installed the app and it worked twice and again stopped working. When I looked on the app store I could read a message saying lots of issues have been posted about this app not working on google phones. So every time I wish to use the app I have to re instal it, what a load of crap. 

brucefan_2

ThePirates said:

DealSeeker11 said:

Is anyone having problems logging on via Monbs app? Mine is stuck on the following screen but it’s not given me the options:

2-factor authentication

Please select an option below, to receive a six-digit verification code.

Yep, same problem.
Reinstall didn't help...

The app froze on me completely yesterday evening. Uninstalled and then re-installed. On Android

On opening the app was presented with the option of continuing as an 'Existing Customer' or 'New Customer'

As I had an account number and had seen the account in-app, 'Existing Customer' seemed the sensible route to take. Doing so brought up a screen with a further two options:

1. I have not registered for the app
2. I have registered for the app

Logic dictated that, having previously got as far as seeing my account (not registering my £5 deposit after several hours) that Option 2 was the path to go down ... at which point Monmouthshire decided it was appropriate on the next screen to tell me:

"We will now register your new phone or new number.
Please Select One of the following

1. I have a new phone
2. I am using a new number.

No, Monmouthshire, no - I don't have a new phone or new number. All I've done is re-install the app.

I don't think I'm missing something blindingly obvious here, but if so, apologies for casting criticism on the app flow, but I really don't see what I could be doing differently.

ThePirates

brucefan_2 said:

ThePirates said:

DealSeeker11 said:

Is anyone having problems logging on via Monbs app? Mine is stuck on the following screen but it’s not given me the options:

2-factor authentication

Please select an option below, to receive a six-digit verification code.

Yep, same problem.
Reinstall didn't help...

The app froze on me completely yesterday evening. Uninstalled and then re-installed. On Android

On opening the app was presented with the option of continuing as an 'Existing Customer' or 'New Customer'

As I had an account number and had seen the account in-app, 'Existing Customer' seemed the sensible route to take. Doing so brought up a screen with a further two options:

1. I have not registered for the app
2. I have registered for the app

Logic dictated that, having previously got as far as seeing my account (not registering my £5 deposit after several hours) that Option 2 was the path to go down ... at which point Monmouthshire decided it was appropriate on the next screen to tell me:

"We will now register your new phone or new number.
Please Select One of the following

1. I have a new phone
2. I am using a new number.

No, Monmouthshire, no - I don't have a new phone or new number. All I've done is re-install the app.

I don't think I'm missing something blindingly obvious here, but if so, apologies for casting criticism on the app flow, but I really don't see what I could be doing differently.

Yeap, been through the same process but can't get past the 2 factor missing info...

I'll give them a few days to clear the backlog then give them a ring.

Bobblehat

masonic said:

Anyone made sense of the following? If you open and fund on 1st August 2025 and pay in £250 on the 1st of every calendar month, then after 12 months (31st July 2025) you would have a balance of £3000, with no interest having been paid yet, or at maturity on 28th August you would have £3250+interest. Or is it actually a 12 month term?

Your post got me wondering just how much this RS would actually pay at maturity. While playing with the spreadsheet I used for the Monmouthshire comparison and applying it to this VM RS, I realised that there seems to be just one specific set of factors that generate VM's estimate of £105.56 interest.

Not only does the calculation have to start on the 1st of Aug with £250 and each following 1st of the month up to and including July 2026 (i.e. no 13th payment), as VM have stated, but also seems to only generate £105.56 if there is no interest for the whole of August 2026! Surely not?

I found this hard to believe and tried different scenarios, including calculating the total interest with the theoretical amount for £3000 for the 28 days in August 2026 added, also with a 13th payment and also altering the dates when the 1st of the month falls on a non-working day (apologies to Bridlington1 in advance  )

Here are the results in short form ... to save boring the pants off those who expressed disinterest in my earlier tables ...

The lack of figures for No interest in August 2026 and 13 payments is simply that no one would pay in the 13th payment if it wasn't going to generate interest! In effect the figures would be identical to the row above in that case.

You can take your pick of which figure you think VM might pay out according to these specific cases!

I suggest you try a few "what if's" on a spreadsheet yourselves if you think I've screwed up the figures!

35har1old

TheBanker said:

Co-op Regular Saver
Thanks everyone. It's already matured this morning so I've withdrawn the balance (as I need it). Interestingly, the mobile app transaction listing has a line for credit interest, but the amount is blank. Interest has clearly been credited though as the balance has increased compared to yesterday. I am sure they will catch up at some point. I'll leave the Smart Saver open until the figure appears, as I need it for my tax return spreadsheet.

My Virgin RS hasn't matured yet.

I feel rich having both of these mature today... but the money is earmarked for spending next week, then the whole cycle can start again! 

Matures tomorrow 

masonic

35har1old said:

TheBanker said:

Co-op Regular Saver
Thanks everyone. It's already matured this morning so I've withdrawn the balance (as I need it). Interestingly, the mobile app transaction listing has a line for credit interest, but the amount is blank. Interest has clearly been credited though as the balance has increased compared to yesterday. I am sure they will catch up at some point. I'll leave the Smart Saver open until the figure appears, as I need it for my tax return spreadsheet.

My Virgin RS hasn't matured yet.

I feel rich having both of these mature today... but the money is earmarked for spending next week, then the whole cycle can start again! 

Matures tomorrow 

They sent an email in mid-July stating: "we’re getting in touch because your Regular Saver Exclusive, earning 10.38% AER/10.00% Gross, matures on 31 July 2025. It will then become an Everyday Saver, earning 1.75% AER/1.74% Gross (variable), from 1 August 2025."

soulsaver

DealSeeker11 said:

Is anyone having problems logging on via Monbs app? Mine is stuck on the following screen but it’s not given me the options:

2-factor authentication

Please select an option below, to receive a six-digit verification code.

No trouble here, just now 12.27am. Tap on sms option. Then tap on it again and it changes to the input box for me - if you get 2 codes, input the later of the 2... and then the 'M' pulses for a min..or 2.
Android.

Eco_Miser

Bobblehat said:

masonic said:

Anyone made sense of the following? If you open and fund on 1st August 2025 and pay in £250 on the 1st of every calendar month, then after 12 months (31st July 2025) you would have a balance of £3000, with no interest having been paid yet, or at maturity on 28th August you would have £3250+interest. Or is it actually a 12 month term?

Your post got me wondering just how much this RS would actually pay at maturity. While playing with the spreadsheet I used for the Monmouthshire comparison and applying it to this VM RS, I realised that there seems to be just one specific set of factors that generate VM's estimate of £105.56 interest.

Not only does the calculation have to start on the 1st of Aug with £250 and each following 1st of the month up to and including July 2026 (i.e. no 13th payment), as VM have stated, but also seems to only generate £105.56 if there is no interest for the whole of August 2026! Surely not?

I found this hard to believe and tried different scenarios, including calculating the total interest with the theoretical amount for £3000 for the 28 days in August 2026 added, also with a 13th payment and also altering the dates when the 1st of the month falls on a non-working day (apologies to Bridlington1 in advance  )

Here are the results in short form ... to save boring the pants off those who expressed disinterest in my earlier tables ...

The lack of figures for No interest in August 2026 and 13 payments is simply that no one would pay in the 13th payment if it wasn't going to generate interest! In effect the figures would be identical to the row above in that case.

You can take your pick of which figure you think VM might pay out according to these specific cases!

I suggest you try a few "what if's" on a spreadsheet yourselves if you think I've screwed up the figures!

It does say "Projected balance at the end of a 12 month fixed period". Obviously whoever produced that document forgot to alter the template to cover the near 13 month term available to those quick off the mark. The actual account matures 28 August 2026, and interest will be paid for August 2026, but the standard template is for a 12 month term. I suspect making 12 payments on the 29th of each month would give the £105.38 interest, but I can't be bothered doing the calculations.