The Top Regular Savers Discussion Thread

Aidanmc

s71hj said:

Aidanmc said:

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.

You can close it penalty free until 2nd October.
I closed mine last week also without penalty.

Is there a penalty for early closure of the Coventry Loyalty Seasonal saver? 

I kept the Seasonal saver for now.
But the same terms should apply as the rate was reduced also.
Penalty free until 2nd October

chris_the_bee

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

You should not have received any penalty. From their advice letter:-
"We understand that you want the best possible return on your savings. If you decide to close your account because of this rate change, you can do so without notice, charge, or loss of interest within 30 days of the effective date. After this, normal account closure conditions will apply."

BestSeagull

Sussex_Green_Man said:

Does anyone know if Aldermore Bank allow a 13th payment?  The T&C do not specifically state that £3600 is the maximum deposit balance.  Thanks

Aldermore do allow a 13th payment but it has to be a direct transfer in from outside. If you're trying to move money from another Aldermore account, the system will block the transfer. 

Bigwheels1111

Both my Monmouthshire reg savers show, £500 & £1000 for the 28th August and the same again for the 1st September.
Both show day of deposit credit, but not visible until next day.
First application was the 30-07-25 took forever.

Money_Grabber13579

mon3ysav3r said:

Slinky said:

I've just tried logging in to Progressive to check my SO has arrived today, and after putting in my password it's come up with a Salesforce page asking me to change my password.  Never had this before, I've abandoned the login. Is this genuine?

Yes it appears to be genuine.

It did the same to me a week or so ago, I changed my password and all is good.

I have worked my entire life working in IT, and I was surprised that they use Salesforce for authentication it makes no sense, but then I thought this is the only institution to stop using SMS message 2FA and swap to WhatsApp ....

Let’s just say Progressive have their own way of doing things. Only a few years ago, they decided to abandon online banking altogether, before bringing it back again a few years later.

Born2Save_3

Coventry Sunny Day Saver Maturity Options

I've been told that I should have received a letter which outlined some maturity options.  Just wondered if opening a new Sunny Day Saver or keeping the existing going was an option ?

My Coventry Sunny matured and became an Easy Access account at < 3% so I moved the money elsewhere.

Of the new accounts available only the Loyalty Mortgage Saver (2) is appealing at 4.8%.  Does anyone know if the Coventry are sticklers over actually having a mortgage or is entering genuine details of a mortgage necessary ? 

Thanks

Born2Save_3

Cahoot Sunny Day Savers (Feeder accounts to RS)

I have a few more than two.  It seems to have been a bit long since I've received interest on these.  I did just after upgrade and I'm not sure if that resets when interest is paid.  Also I'm not sure if the account has to be funded for over a month before payment of interest.

Has anyone else noticed this or any comments on when interest should be paid ?

Thanks

s71hj

Aidanmc said:

s71hj said:

Aidanmc said:

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.

You can close it penalty free until 2nd October.
I closed mine last week also without penalty.

Is there a penalty for early closure of the Coventry Loyalty Seasonal saver? 

I kept the Seasonal saver for now.
But the same terms should apply as the rate was reduced also.
Penalty free until 2nd October

Is there a way to close it in the app? I can't see an obvious button to press? 

Born2Save_3

Monmouthshire BS Account Opening via email

I haven't asked MonBS specifically, but just wondered if anyone had tried either successfully or not to open an account with MonBS by sending a completed application form electronically ?  

I'm wondering if this might be possible though the website messaging service or the app messaging.  Also by email ?

Given that some of the account openings are shared out amongst the branches, is there a branch that is more open to this possibility ?

Thanks

Born2Save_3

Manual Transfers using Nationwide Current Account

One of the greatest pains on the 1st of the month is selecting the correct predefined payee from a list and being certain it is the correct one.  As Nationwide do not allow duplicates of "Own Description", in my list of the order of payments and the amount, I have recorded the text string for "Own Description" for the payee.  On the Nationwide website when it comes to selecting payee I used the browser find function and copy pasted "Own Description".  It worked very well, almost too well, yet being first time I still checked it hadn't got the wrong payee.  This really speeded up the process and took away manual search for payee which I really dislike.

After 2 hours of being logged in Nationwide will force you off.  Also they seem to randomly require extra verification for some existing payees.  Further I've noticed that after doing over around 40 manual transfers they may not let faster payments go through immediately and they won't let you see the status of recent faster payments.

I prefer to do manual payments as it gives me more flexibility and certainty.

I have wondered if there was a current account and website that would allow complete transfers to be stored and edited as need be.  So when it comes to doing transfers you can select and go.  I guess this may be similar to the way transfers for payroll are done.

I've talked to Nationwide about making changes to their website and adding functionality but there was no interest or prospect.  I guess most retail customers don't do 50+ transfers on one day every month.