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The Top Regular Savers Discussion Thread
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clairec666 said:20122013 said:drphila said:gt94sss2 said:20122013 said:These are the VM's Current accounts I can see on their website, which one is the cheapest / no frills account which qualifies for the VM RS account, please?
https://uk.virginmoney.com/current-accounts/pca/
M Plus, I believe. That's the conclusion I came to last year when I had to open a current account for the RSI only wanted to open one account and ended up with 2 now 3 :- M Plus (MP)- M Plus Saver (MP S)- Regular Saver (RS)I have funded my RS account. Do i need to fund the other 2 accounts as well? and can I close the MP S account?
Also, they let you override the payee account verification check (I believe it can take a working day for your new account to be registered) unlike Lloyds, who refused payment to my new Monmouthshire account today. VM now have that business...
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Unusually quiet day on this thread. Anyone know any good jokes (yes I KNOW this is off topic)0
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Seting up Standing Order to pay externally into Virgin Regular SaverYesterday I had made my first payment by direct transfer via Chase. Just now, I have been trying to set up a Standing Order from my Flex Account (Nationwide) but got this error :'We’re unable to check the payee details you entered. Some accounts can’t be checked. This doesn't mean the details you've entered are incorrect. If you're unsure, confirm the details with the payee. Cancel the payment if you think someone might be trying to scam you.'Is this because certain banks (eg VM) will not accept SO ? I have checked the account details and have manually inputted - I have this month to keep trying - another way to memorise numbers.VM website says:
Yes. You can do this from an external account or another account with Virgin Money.
If you choose to pay in by standing order, we suggest you pick a date no later than the 26th of the month. This ensures your money will reach your account by the end of the calendar month.
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s71hj said:s71hj said:Unusually quiet day on this thread. Anyone know any good jokes (yes I KNOW this is off topic)5
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Reg_Smeeton said:badger09 said: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 momentHave attempted to close mine online now, I sent MonBS the instruction over the weekend, now showing in the online portal as “processed” but still displaying with the full balance, and interest hasn’t been added yet.I’m fairly sure I’m operating outside of the T&Cs but will report back whether they are currently allowing closure as I’m sure other forumites will have similarly uncompetitive accounts still some weeks from maturityThe most recent issue clearly states that early closure is possible, which IMO is reasonable in the case of a variable rate account. Tying customers in to a product with a variable rate which has been substantially reduced is unfair. Again. IMO.2 -
badger09 said:Reg_Smeeton said:badger09 said: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 momentHave attempted to close mine online now, I sent MonBS the instruction over the weekend, now showing in the online portal as “processed” but still displaying with the full balance, and interest hasn’t been added yet.I’m fairly sure I’m operating outside of the T&Cs but will report back whether they are currently allowing closure as I’m sure other forumites will have similarly uncompetitive accounts still some weeks from maturityThe most recent issue clearly states that early closure is possible, which IMO is reasonable in the case of a variable rate account. Tying customers in to a product with a variable rate which has been substantially reduced is unfair. Again. IMO.
From the terms in the "Regular Saver Terms and Conditions" PDF:
"Closure of your Regular Saver account is allowed at any time without notice or penalty."
In my experience this is usual with Monmouthshire.
https://web.archive.org/web/20240821170621/https://www.monbs.com/savings/exclusive-regular-saver-issue-2/
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20122013 said:Seting up Standing Order to pay externally into Virgin Regular SaverYesterday I had made my first payment by direct transfer via Chase. Just now, I have been trying to set up a Standing Order from my Flex Account (Nationwide) but got this error :'We’re unable to check the payee details you entered. Some accounts can’t be checked. This doesn't mean the details you've entered are incorrect. If you're unsure, confirm the details with the payee. Cancel the payment if you think someone might be trying to scam you.'Is this because certain banks (eg VM) will not accept SO ? I have checked the account details and have manually inputted - I have this month to keep trying - another way to memorise numbers.1
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nottsphil said:clairec666 said:20122013 said:drphila said:gt94sss2 said:20122013 said:These are the VM's Current accounts I can see on their website, which one is the cheapest / no frills account which qualifies for the VM RS account, please?
https://uk.virginmoney.com/current-accounts/pca/
M Plus, I believe. That's the conclusion I came to last year when I had to open a current account for the RSI only wanted to open one account and ended up with 2 now 3 :- M Plus (MP)- M Plus Saver (MP S)- Regular Saver (RS)I have funded my RS account. Do i need to fund the other 2 accounts as well? and can I close the MP S account?
Also, they let you override the payee account verification check (I believe it can take a working day for your new account to be registered) unlike Lloyds, who refused payment to my new Monmouthshire account today. VM now have that business...Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Daringly said:20122013 said:Seting up Standing Order to pay externally into Virgin Regular SaverYesterday I had made my first payment by direct transfer via Chase. Just now, I have been trying to set up a Standing Order from my Flex Account (Nationwide) but got this error :'We’re unable to check the payee details you entered. Some accounts can’t be checked. This doesn't mean the details you've entered are incorrect. If you're unsure, confirm the details with the payee. Cancel the payment if you think someone might be trying to scam you.'Is this because certain banks (eg VM) will not accept SO ? I have checked the account details and have manually inputted - I have this month to keep trying - another way to memorise numbers.
Got around it by selecting "business" and payment reached my Virgin regular within seconds.0
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