The Top Regular Savers Discussion Thread

PowerSavingMode

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'?

flaneurs_lobster

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.

mhoc

My earliest Cahoo Sunny Days has matured today and is now sitting there - the original 3K plus the accrued interest.but showing an interest rate of 0%.
Please can I ask will it update and show the correct interest rate tomorrow??.
Also what do I do about the interest as this makes the total over the maximum 3K - will it earn interest as well?
Can I even remove it as I assume no withdrawals are allowed ..

Apologies I know this is not a regular saver and discussion belongs some place else but I thought a Cahoot expert might know  

masonic

mhoc said:

My earliest Cahoo Sunny Days has matured today and is now sitting there - the original 3K plus the accrued interest.but showing an interest rate of 0%.
Please can I ask will it update and show the correct interest rate tomorrow??.
Also what do I do about the interest as this makes the total over the maximum 3K - will it earn interest as well?
Can I even remove it as I assume no withdrawals are allowed ..

Apologies I know this is not a regular saver and discussion belongs some place else but I thought a Cahoot expert might know  

It has been known for the denizens of this thread to venture out into the wider Savings & Investments section from time to time, and even contribute to threads there. It has been observed that there is sometimes an issue with the interest rate displayed that can be fixed via a temporary withdrawal of funds. If the account has matured, then it won't be paying the best rate (unless you upgrade it). If you upgrade it to a SDS Issue 5, then you will not earn any interest on the part of the balance that is above £3k.

Dizzycap

mhoc said:

My earliest Cahoo Sunny Days has matured today and is now sitting there - the original 3K plus the accrued interest.but showing an interest rate of 0%.
Please can I ask will it update and show the correct interest rate tomorrow??.
Also what do I do about the interest as this makes the total over the maximum 3K - will it earn interest as well?
Can I even remove it as I assume no withdrawals are allowed ..

Apologies I know this is not a regular saver and discussion belongs some place else but I thought a Cahoot expert might know  

When you sign into Cahoot there should be an 'Upgrade your existing savings account' link on the top right hand side.....select and then upgrade your now matured accoun to the best rate available. I've upgraded all my old cahoot accounts to 4.89% (5%) without any issues.

Withdrawals from Cahoot are allowed at anytime and are instantly credited, but you will need to set-up withdrawl account(s) in Cahoot -Click on the 'goto' link next to your cahoot account and select the option required 

Bobblehat

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!

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