The Top Regular Savers Discussion Thread

Kim_13

surreysaver said:

Speculator said:

roked said:

I closed my Coventry seasonal RS today due to the rate dropping below my threshold and wanted to use the funds for other RS's anyway. Surprised to see that I seem to have only got a two-week penalty on interest instead of a full month. Not complaining

There should be no penalty for closing due to the rate drop.

If I understand Coventry's T&Cs correctly, it is within a certain amount of time of receiving notification of the rate drop - not of the rate actually dropping.
Can't remember when Coventry sent out its notifications, but I think it was quite a while ago 

They sent it on 18/8, but there has been confusion this time around due to the wording of that email suggesting it was 30 days from the effective date rather than the notification date. 

Coventry haven’t responded to my secure message sent before they opened yesterday, if they don’t answer soon I guess I will close the Loyalty Saver myself and then raise a complaint if a penalty is applied.

judgingjudy

flaneurs_lobster said:

Mon BS 

How quickly one's expectations change. Until this month I'd accept that my deposits would take a couple of days to show up online, now I'm annoyed that yesterday's cash isn't up and running in the app.

Mine isn’t there either, so I’m glad it’s not just me. I’ve only been a customer for a couple of months - do you mean that prior to last month, the deposits would take a couple of days to show for MBS accounts, or was that a general observation?

I must say that I am very unimpressed with MonBS, as the app doesn’t work for me and their customer support is very poor. If the rates and allowances weren’t as generous on these products then I would ditch them but sadly I feel a bit stuck! There are worse problems to have, of course. 

Kim_13

judgingjudy said:

flaneurs_lobster said:

Mon BS 

How quickly one's expectations change. Until this month I'd accept that my deposits would take a couple of days to show up online, now I'm annoyed that yesterday's cash isn't up and running in the app.

Mine isn’t there either, so I’m glad it’s not just me. I’ve only been a customer for a couple of months - do you mean that prior to last month, the deposits would take a couple of days to show for MBS accounts, or was that a general observation?

I must say that I am very unimpressed with MonBS, as the app doesn’t work for me and their customer support is very poor. If the rates and allowances weren’t as generous on these products then I would ditch them but sadly I feel a bit stuck! There are worse problems to have, of course. 

Yes, two working days was/is the norm for a payment to show online. I’ll be surprised if the payments show today now as somewhere between 7 and 8am on the day of appearing was how it worked previously.

The app had been a day quicker than online until now.

Chaykin

My MonBS payments into my 3x different RSs which I did yesterday morning are now showing on the app with yesterday's date.

flaneurs_lobster

Chaykin said:

My MonBS payments into my 3x different RSs which I did yesterday morning are now showing on the app with yesterday's date.

Yes, me too.

clivep

35har1old said:

clivep said:

Nationwide

Regular saver matures later this month. 13th payment has been returned. In the past Nationwide has allowed the 13th payment. Is this a change in policy?

How long did it take to be returned?

Nationwide

I can't say exactly when...

I looked at the Bank of Scotland a/c mid-morning and could see all the standing order transactions for regular savers had been processed followed by the 2 x £200 ones returned by Nationwide.

Bobblehat

flaneurs_lobster said:

Chaykin said:

My MonBS payments into my 3x different RSs which I did yesterday morning are now showing on the app with yesterday's date.

Yes, me too.

Thanks for the heads up on this, I may have forgotten to check until later in the week! The good news is that they are showing and dated 01/09 

trickydicky14

I can confirm Monmouth are still processing postal requests for the branch RS. I posted mine first class on the 27th and account showing today 2nd Sept in the app.

My only disappointment being they have credited my account as of today the 2nd yet the cheque was dated 27th so I can’t pay in another £500 for September. I’m not complaining, I’m pleased they opened the account without me having to go all the way to Hereford to sort it.

Speculator

judgingjudy said:

flaneurs_lobster said:

Mon BS 

How quickly one's expectations change. Until this month I'd accept that my deposits would take a couple of days to show up online, now I'm annoyed that yesterday's cash isn't up and running in the app.

Mine isn’t there either, so I’m glad it’s not just me. I’ve only been a customer for a couple of months - do you mean that prior to last month, the deposits would take a couple of days to show for MBS accounts, or was that a general observation?

I must say that I am very unimpressed with MonBS, as the app doesn’t work for me and their customer support is very poor. If the rates and allowances weren’t as generous on these products then I would ditch them but sadly I feel a bit stuck! There are worse problems to have, of course. 

Deposited quite late, around 6.30pm yesterday and was showing at 9.30am today

roked

Kim_13 said:

surreysaver said:

Speculator said:

roked said:

I closed my Coventry seasonal RS today due to the rate dropping below my threshold and wanted to use the funds for other RS's anyway. Surprised to see that I seem to have only got a two-week penalty on interest instead of a full month. Not complaining

There should be no penalty for closing due to the rate drop.

If I understand Coventry's T&Cs correctly, it is within a certain amount of time of receiving notification of the rate drop - not of the rate actually dropping.
Can't remember when Coventry sent out its notifications, but I think it was quite a while ago 

They sent it on 18/8, but there has been confusion this time around due to the wording of that email suggesting it was 30 days from the effective date rather than the notification date. 

Coventry haven’t responded to my secure message sent before they opened yesterday, if they don’t answer soon I guess I will close the Loyalty Saver myself and then raise a complaint if a penalty is applied.

Thanks for info, this prompted me to dig deeper in to the T&Cs. My assumption was that this is a daily interest account and now I am wondering if interest paid is only based on 'deposit month', at least for the purpose of early closure. 

This would make sense for what happened, as my deposit month runs 18th to 17th, hence the august one finished 2 weeks ago on the 17th and the interest payment reflects that. Of course it still could be a co-incidence. 

One way to check, for anyone that still has one open, is to try and close it and you will get a closing balance. You then don't proceed with it and try again the following day, to see if the figure changes slightly.