The Top Regular Savers Discussion Thread

SJMALBA

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?

My reading of it is that they are posing the specific question:-
'What would the estimated balance be after 12 months based on a customer depositing £250 each month?'

and the answer to that specific question is a:

'Projected balance at the end of a 12 month fixed period of £3105.56'

i.e. they are showing a projected balance purely on the basis of a 12 month term, not until a maturity date of 28.8.26

The additional information states 'Depending on when you open your account, the fixed term may be longer than 12-months.'
So, given that it's a calendar month account, with no stated maximum account balance, then a 13th payment should be allowed, and interest paid on full capital until the maturity date/end of the longer fixed term (they also state 'The interest rate is fixed from the day you open your account until the Maturity Date.), giving a higher projected balance than the one stipulated for 12 months only...?

My head's spinning, and it's 'the wee small hours', so I don't know if any of that actually makes sense?!

Then again, maybe I'm reading too much into it, and they've messed up the KPI?

masonic

SJMALBA 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?

My reading of it is that they are posing the specific question:-
'What would the estimated balance be after 12 months based on a customer depositing £250 each month?'

and the answer to that specific question is a:

'Projected balance at the end of a 12 month fixed period of £3105.56'?

It could only be £3105.56 if the account was closed after 12 months, as interest isn't credited until maturity.

Why oh why didn't they use an opening date of 1st September (or 29th August) in the illustration. It seems they've over-complicated it for themselves.

clairec666

SJMALBA 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?

My reading of it is that they are posing the specific question:-
'What would the estimated balance be after 12 months based on a customer depositing £250 each month?'

and the answer to that specific question is a:

'Projected balance at the end of a 12 month fixed period of £3105.56'

i.e. they are showing a projected balance purely on the basis of a 12 month term, not until a maturity date of 28.8.26

The additional information states 'Depending on when you open your account, the fixed term may be longer than 12-months.'
So, given that it's a calendar month account, with no stated maximum account balance, then a 13th payment should be allowed, and interest paid on full capital until the maturity date/end of the longer fixed term (they also state 'The interest rate is fixed from the day you open your account until the Maturity Date.), giving a higher projected balance than the one stipulated for 12 months only...?

My head's spinning, and it's 'the wee small hours', so I don't know if any of that actually makes sense?!

Then again, maybe I'm reading too much into it, and they've messed up the KPI?

I don't think Virgin were anticipating MSE's regular saver pros to be scrutinising their calculations 

Can't remember which account it was, but there was one that offered a "projected balance" of over £10000 for a 12-month term despite a deposit limit of £250 a month. Something escaped the proof-reading process....

Emily_Joy

Has anyone who have different profiles with virgin tried to open several Virgin RS Issue 3?

veggieblob

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.

I had exactly the same.  Tried all the combinations and finally got to the id screen.  It wouldn't accept it.  Gave up

sheffieldeagle

Monmouthshire app now working again for me and only one text required. Anybody reinstalling use the new phone option. It sort of makes sense.

Cheers

jrh22542254

Yesterday I put my 13th payment into the VirginRS whilst it was still saying 10% interest. This morning its showing as an everyday saver paying 1.74%
My last interest was paid on 30th Jun 25 of £63.82, then before that £43.48 on 31st March 25, then £24.86 on 31 Dec 24, then £5.14 on 30 sept 24. So a total interest of £137.30
My first £250 went in on 13 Aug 24 and then I made 12 further payments circa the 1st week of each month.

What happened to my July interest ?

Thank you. 
 

skitskut

jrh22542254 said:

Yesterday I put my 13th payment into the VirginRS whilst it was still saying 10% interest. This morning its showing as an everyday saver paying 1.74%
My last interest was paid on 30th Jun 25 of £63.82, then before that £43.48 on 31st March 25, then £24.86 on 31 Dec 24, then £5.14 on 30 sept 24. So a total interest of £137.30
My first £250 went in on 13 Aug 24 and then I made 12 further payments circa the 1st week of each month.

What happened to my July interest ?

Thank you. 
 

You don't get it till the end of Sept. If you want it now you need to close the account.

allegro120

Emily_Joy said:

Has anyone who have different profiles with virgin tried to open several Virgin RS Issue 3?

Yes, I had 2 RSs of 10.38% version and opened 2 new 6.5%.  Having both profiles allows you to have a double benefit from all VM offerings. I don't think you can have more than two, "08" platform products are different from "05" and "82".

wiseonesomeofthetime

skitskut said:

jrh22542254 said:

Yesterday I put my 13th payment into the VirginRS whilst it was still saying 10% interest. This morning its showing as an everyday saver paying 1.74%
My last interest was paid on 30th Jun 25 of £63.82, then before that £43.48 on 31st March 25, then £24.86 on 31 Dec 24, then £5.14 on 30 sept 24. So a total interest of £137.30
My first £250 went in on 13 Aug 24 and then I made 12 further payments circa the 1st week of each month.

What happened to my July interest ?

Thank you. 
 

You don't get it till the end of Sept. If you want it now you need to close the account.

Tried to close my 05 savings account in app. No go.

Need to try alternative method.