The Top Regular Savers Discussion Thread

clairec666

allegro120 said:

Hattie627 said:

allegro120 said:

clairec666 said:

dcs34 said:

clairec666 said:

s71hj said:

janusdesign said:

s71hj said:

Re Principality issue 4, I managed a payment this month. Is it worth trying for a 7th payment ie 1/2/26 bearing in mind end date of account is 28/2/26.

you could try, but I doubt it would work.... I mean i've had £3,900 deposited and accepted in a £3,600 max RS account, but also read of plenty of others having such payments returned.

Tbh I think I'll not risk rocking the boat. I have multiple issues of the same RS through product maturity with them so be best not to do anything that flags me for attention

If you work out how much interest the extra £200 will generate in a month, compared to putting it in a lower-rate regular saver or even the top-paying easy access, you'll be even less inclined to take the risk.

£200 earning interest at a regular saver rate (in this case 7.5%) for a month will always earn more than the top-paying easy access saver (currently 4.75% with Chase for new customers) - are you implying it'll earn less?

Yes the difference might be small but you could apply that same thinking to each month's deposit and never bother with regular savers to begin with.

An extra 3% interest on £200 for 1 month will gain you an extra 50p. And yes, all those small amounts will add up over the long term, but in this case the gain might not be worth it when you might have to find another home for your money if Principality reject it. Depends if you think your extra admin time is worth 50p.

Providing payee is already set up it can take approximately one minute (or less if you're quick) to make a deposit and register it on spreadsheet. That's £30 per hour, which is equivalent to £62,400 yearly salary https://uk.talent.com/convert?salary=30&start=hour&end=year 

I've done this twice with Principality, both unintentionally.  First time I've made 7th payment into one of the 6-months 1st issue accounts - deposit was accepted.  Second time I paid £250 instead of £125 into one of my Christmas accounts - £125 was credited and the illegitimate half was returned back on the same day.

This is true; however overpaying into an account is a breach of the terms and conditions of the account which you accepted when opening the account. If done repeatedly, it may cause PBS to take action (closing all your accounts and declining future applications). I don't think the risk is worth it for the small gain. I draw a distinction between this situation and the opening of multiple accounts of the same issue of the 6 month RS by way of maturity rollover. In the latter situation PBS is offering the customer an additional 6 month RS account in the menu of options at maturity. It is reasonable for the customer to infer from that that PBS are waiving the condition prohibiting the holding of more than one account of the same issue of the six month RS. The customer accepts the offer; PBS is under no obligation to open the account but does so. There are two active actions by PBS (the offer of the account and the acceptance of the customer's application for the account by opening the account). It would be difficult for PBS to argue that they had not waived the condition.

Agreed.  There's a difference between getting extra accounts (PBS/Cahoot) or violating 12 months "curfew" (Lloyds/Bos) and cheekily going over the maximum balance.  I personally prefer to stick to t&c for the latter.  However, I don't think PBS will be imposing any measures for occasional attempts to overpay. This must be happening a lot - people set up SOs "until further notice" and forget to cancel or miscalculate the number of months or forget what t&c says or something else.  So I think an occasional attempt to go over the maximum balance shouldn't trigger the alarm (if there is one).

Differs between providers. Some may fail to notice an overpayment. Cooperative returned my money immediately and sent me a letter warning me not to do it again otherwise they would close my account. It was a genuine mistake on my part, and I've been very careful since.

rallycurve

Monmouthshire BS

Both the regular saver issue 8 (6%) and app/branch exclusive regular saver issue 1 (7%) pay interest at the end of the term according to the T&Cs:

• Interest is calculated daily and paid at the end of the 12 month term.

However I noticed on my online account that the next interest due date for both of these accounts shows as 31/03/2026.



Is this an error on the online system and the payment will be credited at the end of the term as per the t&c?
This will be important for many as it will fall in a different tax year as planned!

Also noticed that there is another more general regular saver terms and conditions where it states:

• The interest for this account is variable, calculated daily and paid once a year after 31 March.

Which seems to contradict the specific product t&cs. This document also says "Always refer to the specific Product Summary document before the Regular Saver Terms and Conditions" so I assumed the interest payment will be after the 12 month term??

Hoping this is only an error in the online system! Does anyone have past experience with this BS and can confirm what will happen with the interest payment?

jameseonline

Hattie627 said:

allegro120 said:

clairec666 said:

dcs34 said:

clairec666 said:

s71hj said:

janusdesign said:

s71hj said:

Re Principality issue 4, I managed a payment this month. Is it worth trying for a 7th payment ie 1/2/26 bearing in mind end date of account is 28/2/26.

you could try, but I doubt it would work.... I mean i've had £3,900 deposited and accepted in a £3,600 max RS account, but also read of plenty of others having such payments returned.

Tbh I think I'll not risk rocking the boat. I have multiple issues of the same RS through product maturity with them so be best not to do anything that flags me for attention

If you work out how much interest the extra £200 will generate in a month, compared to putting it in a lower-rate regular saver or even the top-paying easy access, you'll be even less inclined to take the risk.

£200 earning interest at a regular saver rate (in this case 7.5%) for a month will always earn more than the top-paying easy access saver (currently 4.75% with Chase for new customers) - are you implying it'll earn less?

Yes the difference might be small but you could apply that same thinking to each month's deposit and never bother with regular savers to begin with.

An extra 3% interest on £200 for 1 month will gain you an extra 50p. And yes, all those small amounts will add up over the long term, but in this case the gain might not be worth it when you might have to find another home for your money if Principality reject it. Depends if you think your extra admin time is worth 50p.

Providing payee is already set up it can take approximately one minute (or less if you're quick) to make a deposit and register it on spreadsheet. That's £30 per hour, which is equivalent to £62,400 yearly salary https://uk.talent.com/convert?salary=30&start=hour&end=year 

I've done this twice with Principality, both unintentionally.  First time I've made 7th payment into one of the 6-months 1st issue accounts - deposit was accepted.  Second time I paid £250 instead of £125 into one of my Christmas accounts - £125 was credited and the illegitimate half was returned back on the same day.

This is true; however overpaying into an account is a breach of the terms and conditions of the account which you accepted when opening the account. If done repeatedly, it may cause PBS to take action (closing all your accounts and declining future applications). I don't think the risk is worth it for the small gain. I draw a distinction between this situation and the opening of multiple accounts of the same issue of the 6 month RS by way of maturity rollover. In the latter situation PBS is offering the customer an additional 6 month RS account in the menu of options at maturity. It is reasonable for the customer to infer from that that PBS are waiving the condition prohibiting the holding of more than one account of the same issue of the six month RS. The customer accepts the offer; PBS is under no obligation to open the account but does so. There are two active actions by PBS (the offer of the account and the acceptance of the customer's application for the account by opening the account). It would be difficult for PBS to argue that they had not waived the condition.

I see the option of having another 6 Month Regular as a Maturity Offer for continuing to save, after all it's up to £200 to invest into a new account, they basically get to keep that out of a max balance of £1200 & you get £1000 + interest, pretty sure Principality wouldn't open multiple 6 Months of same issue if you applied in the standard way on their website.

We shall see if Principality will allow multiple Issue 4's as they've done with previous issues.

Fairly sure Principality knows what they are doing, never let me down & I've had accounts with them a few years now.

The way I see it is the more 6 Month Regular Saver accounts per customer they allow the more money that potentially stays in the building society tbh & in return we get some interest from each one we hold.

10_66

Hattie627 said:

Principality BS 6 month RS Issue 3

The first (of 3) of my Issue 3's matures on 13th September. I haven't received any maturity options letter so far. My recollection of previous 6 month RS maturities (issues 1 and 2) is that I didn't receive a letter (?) but a function to choose maturity options became available online in advance of the maturity date. Issue 3 of the 6 month RS is still shown as available on the PBS website, so I am hoping that I can mature into a new one on 13th September. Can anyone recall how far in advance of the date of maturity the maturity options function has become available in previous 6 month RS maturities? I appreciate that 13th September will be the first date on which Issue 3's will be maturing.

@Hattie627 are you seeing a maturity option online yet?  Mine also matures on the 13th, so just a couple of weeks away.

jaypers

10_66 said:

Hattie627 said:

Principality BS 6 month RS Issue 3

The first (of 3) of my Issue 3's matures on 13th September. I haven't received any maturity options letter so far. My recollection of previous 6 month RS maturities (issues 1 and 2) is that I didn't receive a letter (?) but a function to choose maturity options became available online in advance of the maturity date. Issue 3 of the 6 month RS is still shown as available on the PBS website, so I am hoping that I can mature into a new one on 13th September. Can anyone recall how far in advance of the date of maturity the maturity options function has become available in previous 6 month RS maturities? I appreciate that 13th September will be the first date on which Issue 3's will be maturing.

@Hattie627 are you seeing a maturity option online yet?  Mine also matures on the 13th, so just a couple of weeks away.

Principality maturities usually show exactly 14 days before the maturity date so suspect it will be an option when you login tomorrow. 

Aidanmc

10_66 said:

Hattie627 said:

Principality BS 6 month RS Issue 3

The first (of 3) of my Issue 3's matures on 13th September. I haven't received any maturity options letter so far. My recollection of previous 6 month RS maturities (issues 1 and 2) is that I didn't receive a letter (?) but a function to choose maturity options became available online in advance of the maturity date. Issue 3 of the 6 month RS is still shown as available on the PBS website, so I am hoping that I can mature into a new one on 13th September. Can anyone recall how far in advance of the date of maturity the maturity options function has become available in previous 6 month RS maturities? I appreciate that 13th September will be the first date on which Issue 3's will be maturing.

@Hattie627 are you seeing a maturity option online yet?  Mine also matures on the 13th, so just a couple of weeks away.

Mine also maturing on 13th. No maturity options or notification yet. Probably Monday

Bridlington1

rallycurve said:

Monmouthshire BS

Both the regular saver issue 8 (6%) and app/branch exclusive regular saver issue 1 (7%) pay interest at the end of the term according to the T&Cs:

• Interest is calculated daily and paid at the end of the 12 month term.

However I noticed on my online account that the next interest due date for both of these accounts shows as 31/03/2026.



Is this an error on the online system and the payment will be credited at the end of the term as per the t&c?
This will be important for many as it will fall in a different tax year as planned!

Also noticed that there is another more general regular saver terms and conditions where it states:

• The interest for this account is variable, calculated daily and paid once a year after 31 March.

Which seems to contradict the specific product t&cs. This document also says "Always refer to the specific Product Summary document before the Regular Saver Terms and Conditions" so I assumed the interest payment will be after the 12 month term??

Hoping this is only an error in the online system! Does anyone have past experience with this BS and can confirm what will happen with the interest payment?

I seem to recall this happened with their Coronation RS (launched in 2023) which stated interest would be paid on 31/3/24 in online banking. In my case interest wasn't paid in March and was instead paid when I closed the account in April 2024.

allegro120

clairec666 said:

allegro120 said:

Hattie627 said:

allegro120 said:

clairec666 said:

dcs34 said:

clairec666 said:

s71hj said:

janusdesign said:

s71hj said:

Re Principality issue 4, I managed a payment this month. Is it worth trying for a 7th payment ie 1/2/26 bearing in mind end date of account is 28/2/26.

you could try, but I doubt it would work.... I mean i've had £3,900 deposited and accepted in a £3,600 max RS account, but also read of plenty of others having such payments returned.

Tbh I think I'll not risk rocking the boat. I have multiple issues of the same RS through product maturity with them so be best not to do anything that flags me for attention

If you work out how much interest the extra £200 will generate in a month, compared to putting it in a lower-rate regular saver or even the top-paying easy access, you'll be even less inclined to take the risk.

£200 earning interest at a regular saver rate (in this case 7.5%) for a month will always earn more than the top-paying easy access saver (currently 4.75% with Chase for new customers) - are you implying it'll earn less?

Yes the difference might be small but you could apply that same thinking to each month's deposit and never bother with regular savers to begin with.

An extra 3% interest on £200 for 1 month will gain you an extra 50p. And yes, all those small amounts will add up over the long term, but in this case the gain might not be worth it when you might have to find another home for your money if Principality reject it. Depends if you think your extra admin time is worth 50p.

Providing payee is already set up it can take approximately one minute (or less if you're quick) to make a deposit and register it on spreadsheet. That's £30 per hour, which is equivalent to £62,400 yearly salary https://uk.talent.com/convert?salary=30&start=hour&end=year 

I've done this twice with Principality, both unintentionally.  First time I've made 7th payment into one of the 6-months 1st issue accounts - deposit was accepted.  Second time I paid £250 instead of £125 into one of my Christmas accounts - £125 was credited and the illegitimate half was returned back on the same day.

This is true; however overpaying into an account is a breach of the terms and conditions of the account which you accepted when opening the account. If done repeatedly, it may cause PBS to take action (closing all your accounts and declining future applications). I don't think the risk is worth it for the small gain. I draw a distinction between this situation and the opening of multiple accounts of the same issue of the 6 month RS by way of maturity rollover. In the latter situation PBS is offering the customer an additional 6 month RS account in the menu of options at maturity. It is reasonable for the customer to infer from that that PBS are waiving the condition prohibiting the holding of more than one account of the same issue of the six month RS. The customer accepts the offer; PBS is under no obligation to open the account but does so. There are two active actions by PBS (the offer of the account and the acceptance of the customer's application for the account by opening the account). It would be difficult for PBS to argue that they had not waived the condition.

Agreed.  There's a difference between getting extra accounts (PBS/Cahoot) or violating 12 months "curfew" (Lloyds/Bos) and cheekily going over the maximum balance.  I personally prefer to stick to t&c for the latter.  However, I don't think PBS will be imposing any measures for occasional attempts to overpay. This must be happening a lot - people set up SOs "until further notice" and forget to cancel or miscalculate the number of months or forget what t&c says or something else.  So I think an occasional attempt to go over the maximum balance shouldn't trigger the alarm (if there is one).

Differs between providers. Some may fail to notice an overpayment. Cooperative returned my money immediately and sent me a letter warning me not to do it again otherwise they would close my account. It was a genuine mistake on my part, and I've been very careful since.

I've had similar with NatWest, sent money to DigSaver instead of current account by accident.  They returned the money and sent me a warning 'if you continue doing this we will close your account'.

allegro120

10_66 said:

Hattie627 said:

Principality BS 6 month RS Issue 3

The first (of 3) of my Issue 3's matures on 13th September. I haven't received any maturity options letter so far. My recollection of previous 6 month RS maturities (issues 1 and 2) is that I didn't receive a letter (?) but a function to choose maturity options became available online in advance of the maturity date. Issue 3 of the 6 month RS is still shown as available on the PBS website, so I am hoping that I can mature into a new one on 13th September. Can anyone recall how far in advance of the date of maturity the maturity options function has become available in previous 6 month RS maturities? I appreciate that 13th September will be the first date on which Issue 3's will be maturing.

@Hattie627 are you seeing a maturity option online yet?  Mine also matures on the 13th, so just a couple of weeks away.

I've checked 2 hours ago.  No maturity option yet.  I think it is normally 14 days prior to maturity so should be available tomorrow. 

Hattie627

10_66 said:

Hattie627 said:

Principality BS 6 month RS Issue 3

The first (of 3) of my Issue 3's matures on 13th September. I haven't received any maturity options letter so far. My recollection of previous 6 month RS maturities (issues 1 and 2) is that I didn't receive a letter (?) but a function to choose maturity options became available online in advance of the maturity date. Issue 3 of the 6 month RS is still shown as available on the PBS website, so I am hoping that I can mature into a new one on 13th September. Can anyone recall how far in advance of the date of maturity the maturity options function has become available in previous 6 month RS maturities? I appreciate that 13th September will be the first date on which Issue 3's will be maturing.

@Hattie627 are you seeing a maturity option online yet?  Mine also matures on the 13th, so just a couple of weeks away.

No, not seeing maturity option yet. I checked the t and c's and maturity options should be available 14 days before maturity which is tomorrow for 13th September. Im planning to check tomorrow

Edited to add: I've just seen jaypers post which I agree with