The Top Regular Savers Discussion Thread

Bob2000

Bobblehat said:

flaneurs_lobster said:

Bob2000 said:

allegro120 said:

Bob2000 said:

CricketLady said:

dingling68 said:

Nationwide Flex Regular Saver 3

Is a 13th payment allowed? Mine is due to mature on 22/9/25. Information I have saved refers to £2,400 but also refers to calendar months? 

Yes, we always do a thirteenth payment to Nationwide (four of us in the Cricket household) 

xx

So what's the going rate for interest  if you do a 13th payment?

Making 13th payment won’t affect your interest rate. 

Sorry l meant to say how much interest  would l gain by doing a 13th payment?
Thanks

Rather depends on how many days between payment and maturity.

Assuming your 13th payment is on 01/09/2025 and takes you from £2400 to £2600 in the RS, and you have the 6.5% version, then the "extra" interest will be ~ £0.035 x (Maturity Date). So e.g. if it matures midnight 15th Sept, extra interest will be ~£0.035 x 15 or ~ £0.52.

To put it another way, with £2400 in the RS starting 1st Sept (12 payments) you'll get an extra ~£0.43 per day during Sept. With £2600 in the RS starting 1st Sept (13 payments) you'll get an extra ~£0.46 instead per day during Sept, i.e. ~£0.035 difference per day, yes, just 3.5p per day!

LEGEND!

allegro120

PowerSavingMode said:

Growingold said:

gt94sss2 said:

liamcov said:

My Monmouthshire RS issue 2 expires soon, using the login details from the maturity letter, the only options are transferring to another Mon account or receiving a cheque - if I wait until it turns into a different savings account will I be able to close and select a transfer to my bank?

Yes, or post the enclosed form back to them

I closed mine early online and all funds including interest were in my nominated account later that day

Monmouthshire RS issue 2 

Did you have to pay any charges or lose any interest, and was this outside the '30-day change-of-interest notice'?

There’s no restrictions on withdrawals or closure for this account, no charges or penalties. 

Kim_13

allegro120 said:

PowerSavingMode said:

Growingold said:

gt94sss2 said:

liamcov said:

My Monmouthshire RS issue 2 expires soon, using the login details from the maturity letter, the only options are transferring to another Mon account or receiving a cheque - if I wait until it turns into a different savings account will I be able to close and select a transfer to my bank?

Yes, or post the enclosed form back to them

I closed mine early online and all funds including interest were in my nominated account later that day

Monmouthshire RS issue 2 

Did you have to pay any charges or lose any interest, and was this outside the '30-day change-of-interest notice'?

There’s no restrictions on withdrawals or closure for this account, no charges or penalties. 

RS Issue 2 was some time ago as they are now on Issue 8, I expect the poster means Exclusive Issue 2 which does not allow withdrawals (but there aren’t any penalties if Monmouthshire will process an early closure.)

drphila

pecunianonolet said:

drphila said:

pecunianonolet said:

drphila said:

pecunianonolet said:

Virgin

Requested closure via online form of the regular saver (the form that was mentioned many pages ago), provided account details in the form for the regular saver. Followed up a day later via online chat just in case to make sure the reg saver is getting closed. 

Received an email "Sorry to see you go", checked my app and instead of the regular saver they closed my current account. Reg saver still not closed, still waiting for the interest to be transferred to the current account (that is now closed). 

Just raised a complaint. Totally unacceptable. 

Screenshots not allowed in the app, transcript only available by post on paper if chat has happened via app. Requested a postal copy now. 

Exactlly the same happened to me. They put it down to the "huge" numbers that opened that RS (c.37000 apparently) and then wanted it closed

Did you also complain and if so, did you get compensation and how much did they pay and did they reopen the current account for you?

I had email acknowledgment of my complaint yesterday evening (10pm) and that they will email with an update within 5 working days.

Yes, complaint lodged and told I can expect compensation, though complaints department has final say. Told it will almost certainly not be possible for them to re-open and will have to do it myself. I forgot to say about effect on credit score if I had to re-open but will discuss with complaint handler when they get in touch.

Not expecting this complaint to be resolved for at least a week, maybe a lot longer.

As happened with you, got acknowledgement yesterday and 5 day timescale for update

drphila Did you get any response by Virgin yet?

Only another holding email but going to call them in next few days to ask for negative credit score effect to be included

masonic

drphila said:

pecunianonolet said:

drphila said:

pecunianonolet said:

drphila said:

pecunianonolet said:

Virgin

Requested closure via online form of the regular saver (the form that was mentioned many pages ago), provided account details in the form for the regular saver. Followed up a day later via online chat just in case to make sure the reg saver is getting closed. 

Received an email "Sorry to see you go", checked my app and instead of the regular saver they closed my current account. Reg saver still not closed, still waiting for the interest to be transferred to the current account (that is now closed). 

Just raised a complaint. Totally unacceptable. 

Screenshots not allowed in the app, transcript only available by post on paper if chat has happened via app. Requested a postal copy now. 

Exactlly the same happened to me. They put it down to the "huge" numbers that opened that RS (c.37000 apparently) and then wanted it closed

Did you also complain and if so, did you get compensation and how much did they pay and did they reopen the current account for you?

I had email acknowledgment of my complaint yesterday evening (10pm) and that they will email with an update within 5 working days.

Yes, complaint lodged and told I can expect compensation, though complaints department has final say. Told it will almost certainly not be possible for them to re-open and will have to do it myself. I forgot to say about effect on credit score if I had to re-open but will discuss with complaint handler when they get in touch.

Not expecting this complaint to be resolved for at least a week, maybe a lot longer.

As happened with you, got acknowledgement yesterday and 5 day timescale for update

drphila Did you get any response by Virgin yet?

Only another holding email but going to call them in next few days to ask for negative credit score effect to be included

Firms should be able to remove a record of a hard search in circumstances like these.

jameseonline

Going to have close my Nationwide Issue 3 early to free up funds for start of next month, seems I can't do this via app but can do on their website.

They should get that sorted out in future.

I figure I'll be able to get the latest Nationwide Regular when I can & for time being I have the new Virgin one at same rate + can fund £50 more each month into that compared to Nationwide anyway.

5th September I'll get my Coventry Sunny Day Saver funds.

When are the remaining Virgin Money showing up again?, end of August/start of September?

PowerSavingMode

Kim_13 said:

allegro120 said:

PowerSavingMode said:

Growingold said:

gt94sss2 said:

liamcov said:

My Monmouthshire RS issue 2 expires soon, using the login details from the maturity letter, the only options are transferring to another Mon account or receiving a cheque - if I wait until it turns into a different savings account will I be able to close and select a transfer to my bank?

Yes, or post the enclosed form back to them

I closed mine early online and all funds including interest were in my nominated account later that day

Monmouthshire RS issue 2 

Did you have to pay any charges or lose any interest, and was this outside the '30-day change-of-interest notice'?

There’s no restrictions on withdrawals or closure for this account, no charges or penalties. 

RS Issue 2 was some time ago as they are now on Issue 8, I expect the poster means Exclusive Issue 2 which does not allow withdrawals (but there aren’t any penalties if Monmouthshire will process an early closure.)

Yes, quite right, I did mean the MonBS Exclusive RS issue 2, sorry for any confusion. So, if I ask Monmouthshire to close this account early and they process that instruction on my behalf, then there will no charges or loss of interest?

allegro120

PowerSavingMode said:

Kim_13 said:

allegro120 said:

PowerSavingMode said:

Growingold said:

gt94sss2 said:

liamcov said:

My Monmouthshire RS issue 2 expires soon, using the login details from the maturity letter, the only options are transferring to another Mon account or receiving a cheque - if I wait until it turns into a different savings account will I be able to close and select a transfer to my bank?

Yes, or post the enclosed form back to them

I closed mine early online and all funds including interest were in my nominated account later that day

Monmouthshire RS issue 2 

Did you have to pay any charges or lose any interest, and was this outside the '30-day change-of-interest notice'?

There’s no restrictions on withdrawals or closure for this account, no charges or penalties. 

RS Issue 2 was some time ago as they are now on Issue 8, I expect the poster means Exclusive Issue 2 which does not allow withdrawals (but there aren’t any penalties if Monmouthshire will process an early closure.)

Yes, quite right, I did mean the MonBS Exclusive RS issue 2, sorry for any confusion. So, if I ask Monmouthshire to close this account early and they process that instruction on my behalf, then there will no charges or loss of interest?

I closed my MonBS Exclusive RS issue 2 last month.  There were no charges or loss of interest and funds arrived to my bank account on the same day. This was outside the '30-day change-of-interest notice'.

Growingold

PowerSavingMode said:

Growingold said:

gt94sss2 said:

liamcov said:

My Monmouthshire RS issue 2 expires soon, using the login details from the maturity letter, the only options are transferring to another Mon account or receiving a cheque - if I wait until it turns into a different savings account will I be able to close and select a transfer to my bank?

Yes, or post the enclosed form back to them

I closed mine early online and all funds including interest were in my nominated account later that day

Monmouthshire RS issue 2 

Did you have to pay any charges or lose any interest, and was this outside the '30-day change-of-interest notice'?

No I didn't pay any charges.  It was due to mature on 29/08 but closed it about 3 weeks earlier.  After I'd closed it I received the maturity letter.  As far as I'm aware interest was correct  since the rate had long gone down to 4.9%.  Hadn't realised I could close it until someone else mentioned it.

Section62

jameseonline said:

...
I figure I'll be able to get the latest Nationwide Regular when I can & for time being I have the new Virgin one at same rate + can fund £50 more each month into that compared to Nationwide anyway.
...

Personally I'd open a new Nationwide RS as soon as allowed and stick in the minimum balance (£1 ?).

Nationwide have past form for pulling their RS offering with no prior warning and then going a long time before offering a new one.  If you have the account opened already then you can't miss out if they do pull the account.

Your potential loss from opening a new one now would be not having the maximum benefit from the 12-month term. But a less-than-maximum-benefit is a better outcome than no benefit at all, if you did miss out.  You could also consider repeating the closing/opening when you are ready to fund the account.