The Top Regular Savers Discussion Thread

trickydicky14

subjecttocontract said:

Is it worth trying the App at say silly o clock, around 3am, when most people will have given up and gone to bed ?

I think it might be best to get a good nights sleep and look at it tomorrow, I don't think it's going to vanish over the next 24 hrs.

jameseonline

exel1966 said:

Controlthenarrative said:

Monmouthshire Building Society

App Exclusive for existing customers prior to 20.08.25

£50 min £1000 max per month. Maximum balance £12k.

7% Variable

Under exclusive accounts in app 

And as we're dealing with MONBS the app is currently down, undergoing maintenance !!!

They updated the app today, recently updated it

Kim_13

Whether the app might work in the night would depend on the reason for it being down now. If it is overloaded, then yes. If something has broken and needs IT teams to look on it, then perhaps the fix will only come in working hours (unless the teams are in a different time zone, I guess.)

friolento

clairec666 said:

Well, mine's up and running via the app without too much hassle. Can't help wondering though, have Monmouthshire really thought this through properly? I know others offer regular savers as a "loss leader", but the monthly limits mean they're not taking a massive hit per customer. Did someone at Monmouthshire add an extra zero by mistake?

I reckon there is a fair chance of that. Well done for getting in before they might correct it!

Bobblehat

BestSeagull said:

Just catching up with the MonBS news. Is the feeling that the system maintenance message is because of system overload rather than actual maintenance and when things calm down later on, it might work then?

I didn't download the App (for the 1st time) until 7.50pm tonight. 1st opening gave System Maintenance message, 2nd and subsequent opening messages said "Getting things ready" ... but then nothing after 10~20 mins, so abandoned it.

I'll try again tomorrow, dumping and reloading app if needed. I still prefer big screens and big keyboards, but  ....Hey! Ho! .... FOMO wins sometimes!

Section62

jameseonline said:

Section62 said:

....

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.

I don't have funds to start another which is why I'm closing it near enough a month early because I need to fund other regular savings at the start of September.

Nationwide have had several versions of the 6.5% account, the current version is 6, I'm closing a version 3 in a few days.

The Nationwide Regular only allows £200 to be paid in every month but Virgin Money allows £250 to be paid in every month.

There's no point in me opening a new account if I can't fund it properly.

Lots of us open new accounts we can't or don't (yet) want to fund.  As I said in my previous post, if Nationwide did stop doing the regular saver before you get round to applying for one then you miss out, and have to wait for the opportunity to come round again.

You don't need to have funds to make full monthly deposits. £1 is enough to open a new account, and other than the time taken, there is not much to lose by doing so.

WillPS

friolento said:

clairec666 said:

Well, mine's up and running via the app without too much hassle. Can't help wondering though, have Monmouthshire really thought this through properly? I know others offer regular savers as a "loss leader", but the monthly limits mean they're not taking a massive hit per customer. Did someone at Monmouthshire add an extra zero by mistake?

I reckon there is a fair chance of that. Well done for getting in before they might correct it!

If this was one place that said £1000 and a dozen that said £100 I would agree. I very much doubt one can fat finger all these things in to existence with the wrong max deposit. MonBS tend to be relatively generous on the monthly deposits. £100 would be the lowest I could remember them offering (although no doubt historically there have been lower).

Further I don't see why the shiny new app would only get £100 monthly deposit while the branch equivalent gets £500. The former being higher makes sense.

Both are variable so they could just cull the rate if they decide it's costing them too much.

In short, I don't think this is a mistake.

jameseonline

Section62 said:

jameseonline said:

Section62 said:

....

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.

I don't have funds to start another which is why I'm closing it near enough a month early because I need to fund other regular savings at the start of September.

Nationwide have had several versions of the 6.5% account, the current version is 6, I'm closing a version 3 in a few days.

The Nationwide Regular only allows £200 to be paid in every month but Virgin Money allows £250 to be paid in every month.

There's no point in me opening a new account if I can't fund it properly.

Lots of us open new accounts we can't or don't (yet) want to fund.  As I said in my previous post, if Nationwide did stop doing the regular saver before you get round to applying for one then you miss out, and have to wait for the opportunity to come round again.

You don't need to have funds to make full monthly deposits. £1 is enough to open a new account, and other than the time taken, there is not much to lose by doing so.

I don't fund regular saver accounts with a pathetic £1 & leave them alone, if I get a regular saver I fully fund EVERY month, then close if I need to free up funds.

As I said Nationwide have had several issues of a 6.5% saver, so I'll have to risk potentially missing out but that's ok as I have a Virgin one that has a £250 limit compared to Nationwide.

I believe I'm being very clear in my posts yet people don't seem to be understanding what I'm saying 😔

Also hello again Monmouthshire😏

Kim_13

WillPS said:

friolento said:

clairec666 said:

Well, mine's up and running via the app without too much hassle. Can't help wondering though, have Monmouthshire really thought this through properly? I know others offer regular savers as a "loss leader", but the monthly limits mean they're not taking a massive hit per customer. Did someone at Monmouthshire add an extra zero by mistake?

I reckon there is a fair chance of that. Well done for getting in before they might correct it!

If this was one place that said £1000 and a dozen that said £100 I would agree. I very much doubt one can fat finger all these things in to existence with the wrong max deposit. MonBS tend to be relatively generous on the monthly deposits. £100 would be the lowest I could remember them offering (although no doubt historically there have been lower).

Further I don't see why the shiny new app would only get £100 monthly deposit while the branch equivalent gets £500. The former being higher makes sense.

Both are variable so they could just cull the rate if they decide it's costing them too much.

In short, I don't think this is a mistake.

The lowest Monmouthshire limit I can remember was £200, and that was on a fixed rate account. 

masonic

BestSeagull said:

Just catching up with the MonBS news. Is the feeling that the system maintenance message is because of system overload rather than actual maintenance and when things calm down later on, it might work then?

Originally it was just an intermittent issue, so probably overload. Suspect they may have taken it down at the end of the day as a precaution, given the way things were going.

The Android app has of the order 1000 total downloads. I guess iOS will be of the same order. Only a fraction will be active users. It's hard to believe there is a persistent volume of customers pounding on it unsuccessfully for hours on end. Most would give up fairly quickly.