The Top Regular Savers Discussion Thread

s71hj

clairec666 said:

s71hj said:

flaneurs_lobster said:

jameseonline said:

I'm surprised anyone bothers with the standard tbh, I've only really been bothering with the Club up until recently but I think I'll be emptying it gradually and having it as a backup/overflow account.

I guess if you have all the other decent regulars, but otherwise many may more than 5.25%.

Ive been paying in £2000 a month and £400 of which has been going to the 6.25% Club Lloyds (£1600 straight back out) , but you have both Nationwide and Virgin doing 6.5% these days & Monmouthshire with 6% & 7% accounts and high monthly deposit limits. 

TBH I've stopped funding anything less than 6% a month ago, I've simply run out of available funds.

The Monmouthshire ones rather changed everything 

I was going to say exactly the same thing. After all the time taken to build my NatWest regular saver up to £5000, I'm pulling everything out to get 7% from Monmouthshire!

This would be galling given the hours of £1.01 debit card payments but yes. My other alternative is moving money from flexible isas

Emily_Joy

WillPS said:

With regards to LBG account closures.

I started employment at a bank back in January (not LBG), and had to undertake AML (anti money laundering) training. The training advised that a common sign of 'layering' is suddenly opening several accounts and/or bouncing money in and out of them "for no apparent reason".

Interesting. That would certainly explain why one day I received a phone call from Halifax asking me to explain why I recently moved made 19 payments from different LBG accounts to one external account. I explained that the external account was ISA with Barclays that I opened recently (all was happening in the end of March a few years a back) and I wanted to fund by the end of financial year. I then explained that for some inexplicable reason their system wouldn't let me to send more than 500 in one go without "security clearance" so I was making smaller payments.

ThePirates

E_zroda said:

flaneurs_lobster said:

schiff said:

PRINCIPALITY
Closure etc all done and dusted - £200 into Issue 4 (with the same account number) as requested - the balance into my EA account to deal with as I wish.
Excellent service as always.

I also - although the balance has yet to hit my (external) nominated account.

Is your nominated account like mine a Nationwide one by any chance?
@schiff: I wonder what makes your 'special'...

Yeah, mine's Nationwide too!

clairec666

s71hj said:

clairec666 said:

s71hj said:

flaneurs_lobster said:

jameseonline said:

I'm surprised anyone bothers with the standard tbh, I've only really been bothering with the Club up until recently but I think I'll be emptying it gradually and having it as a backup/overflow account.

I guess if you have all the other decent regulars, but otherwise many may more than 5.25%.

Ive been paying in £2000 a month and £400 of which has been going to the 6.25% Club Lloyds (£1600 straight back out) , but you have both Nationwide and Virgin doing 6.5% these days & Monmouthshire with 6% & 7% accounts and high monthly deposit limits. 

TBH I've stopped funding anything less than 6% a month ago, I've simply run out of available funds.

The Monmouthshire ones rather changed everything 

I was going to say exactly the same thing. After all the time taken to build my NatWest regular saver up to £5000, I'm pulling everything out to get 7% from Monmouthshire!

This would be galling given the hours of £1.01 debit card payments but yes. My other alternative is moving money from flexible isas

Well, I didn't do the round-ups, that felt like too much hassle, but I felt a sense of achievement when I hit the £5000 and it now feels rather weird to be pulling it all back out. 7% though... can't turn that down.

flaneurs_lobster

E_zroda said:

flaneurs_lobster said:

schiff said:

PRINCIPALITY
Closure etc all done and dusted - £200 into Issue 4 (with the same account number) as requested - the balance into my EA account to deal with as I wish.
Excellent service as always.

I also - although the balance has yet to hit my (external) nominated account.

Is your nominated account like mine a Nationwide one by any chance?
@schiff: I wonder what makes your 'special'...

Nah, RBS. But I see funds have now arrived. Didn't @schiff pay his residual into a PrinBS EA? 

clairec666

WillPS said:

With regards to LBG account closures.

I started employment at a bank back in January (not LBG), and had to undertake AML (anti money laundering) training. The training advised that a common sign of 'layering' is suddenly opening several accounts and/or bouncing money in and out of them "for no apparent reason".

On the good side - it helped me realise my fears that banks were permabanning customers on the grounds of poor profitability were unfounded.

On the bad side - it did cause me to think that if I was a member of staff in a bank, having undergone the same training, would I report my own activity?

Their idea of "no apparent reason" is different from ours!

I realise that my own money movement may appear strange to anyone who doesn't play the regular saver game; luckily I've only once had a transaction held up as "suspicious" (by Coop) and have not been banned by any banks. Yet.

SonOfPearl

ThePirates said:

E_zroda said:

flaneurs_lobster said:

schiff said:

PRINCIPALITY
Closure etc all done and dusted - £200 into Issue 4 (with the same account number) as requested - the balance into my EA account to deal with as I wish.
Excellent service as always.

I also - although the balance has yet to hit my (external) nominated account.

Is your nominated account like mine a Nationwide one by any chance?
@schiff: I wonder what makes your 'special'...

Yeah, mine's Nationwide too!

I'm in the same position and my balance has now hit my Nationwide current account.

nomorekids

s71hj said:

clairec666 said:

s71hj said:

flaneurs_lobster said:

jameseonline said:

I'm surprised anyone bothers with the standard tbh, I've only really been bothering with the Club up until recently but I think I'll be emptying it gradually and having it as a backup/overflow account.

I guess if you have all the other decent regulars, but otherwise many may more than 5.25%.

Ive been paying in £2000 a month and £400 of which has been going to the 6.25% Club Lloyds (£1600 straight back out) , but you have both Nationwide and Virgin doing 6.5% these days & Monmouthshire with 6% & 7% accounts and high monthly deposit limits. 

TBH I've stopped funding anything less than 6% a month ago, I've simply run out of available funds.

The Monmouthshire ones rather changed everything 

I was going to say exactly the same thing. After all the time taken to build my NatWest regular saver up to £5000, I'm pulling everything out to get 7% from Monmouthshire!

This would be galling given the hours of £1.01 debit card payments but yes. My other alternative is moving money from flexible isas

glad I m not the only one, raiding the lower rate Nat West especially and now raiding the flexible ISAs to feed the monmouthshires and the others above 6% and now having to adjust the ranking for those with interest paid this year less 20% as I've run out of PSA first time ever for me is running out of PSA, such is the fab rates around at the moment  

nomorekids

clairec666 said:

WillPS said:

With regards to LBG account closures.

I started employment at a bank back in January (not LBG), and had to undertake AML (anti money laundering) training. The training advised that a common sign of 'layering' is suddenly opening several accounts and/or bouncing money in and out of them "for no apparent reason".

On the good side - it helped me realise my fears that banks were permabanning customers on the grounds of poor profitability were unfounded.

On the bad side - it did cause me to think that if I was a member of staff in a bank, having undergone the same training, would I report my own activity?

Their idea of "no apparent reason" is different from ours!

I realise that my own money movement may appear strange to anyone who doesn't play the regular saver game; luckily I've only once had a transaction held up as "suspicious" (by Coop) and have not been banned by any banks. Yet.

Ditto, so this " layering " is money laundering? I too got closed down by Lloyds and lost halifax and BoS too shorting after, all for a hobby we all share, very harsh IMHO as my letter said its forever 

schiff

flaneurs_lobster said:

schiff said:

PRINCIPALITY
Closure etc all done and dusted - £200 into Issue 4 (with the same account number) as requested - the balance into my EA account to deal with as I wish.
Excellent service as always.

I also - although the balance has yet to hit my (external) nominated account.

By 15.30 they said. We're lucky as it's a non-banking day!