The Top Regular Savers Discussion Thread

jaypers

Monmouthshire - Opened a RS yesterday as a new customer. All went smoothly and everything, including the nominated account, seemed to be approved online. Logged into app ok and did a test payment from Barclays of £5. Still not showing today……Are MonBS a bit like Furness whereby they only process next working day? 

Bridlington1

jaypers said:

Monmouthshire - Opened a RS yesterday as a new customer. All went smoothly and everything, including the nominated account, seemed to be approved online. Logged into app ok and did a test payment from Barclays of £5. Still not showing today……Are MonBS a bit like Furness whereby they only process next working day? 

Deposits are treated as having been received the next working day for interest purposes. MBS's deposits take a while to show up regardless of whether it's a working day or not though but are usually backdated to the date it was sent so I wouldn't worry if a payment sent yesterday hasn't arrived yet.

Hal17

Clairec666 add a Pending Receipt cell to your spreadsheet. 

flaneurs_lobster

Hal17 said:

Clairec666 add a Pending Receipt cell to your spreadsheet. 

...or colour the cell, I use grey until the deposit is confirmed.

clairec666

flaneurs_lobster said:

Hal17 said:

Clairec666 add a Pending Receipt cell to your spreadsheet. 

...or colour the cell, I use grey until the deposit is confirmed.

Done. Nice to see my balance restored to yesterday's levels (plus interest).

I spend far too much of my time on my spreadsheet

Snapdragon

Halifax RS - Can anyone with experience of this situation, advise what will happen.....
Initially opened late in the month with manual payment, 2nd and remaining payments were made by S/O on the 1st of the month. Its now full (12*£25) = £3000) but doesn't mature until 25th Oct & S/O will try to put another £250 in on the 1st of October. Will they return the extra £250 as an overpayment or not be concerned?
Can I adjust S/O payment date in the app to skip a month to avoid the over-payment, if its likely they will return it?
Don't particularly want to cancel S/O as the RS account should auto roll-over into a new one on the 25th Oct presumably with same details, so I'd want the S/O to carry on paying on the 1st of month, rather than cancel and have to set up an identical one later. What have those who want it to roll over done? (Yes I know there are better rates elsewhere, but I have all those  ).

Just trying to keep effort involved to a minimum

surreysaver

Snapdragon said:

Halifax RS - Can anyone with experience of this situation, advise what will happen.....
Initially opened late in the month with manual payment, 2nd and remaining payments were made by S/O on the 1st of the month. Its now full (12*£25) = £3000) but doesn't mature until 25th Oct & S/O will try to put another £250 in on the 1st of October. Will they return the extra £250 as an overpayment or not be concerned?
Can I adjust S/O payment date in the app to skip a month to avoid the over-payment, if its likely they will return it?
Don't particularly want to cancel S/O as the RS account should auto roll-over into a new one on the 25th Oct presumably with same details, so I'd want the S/O to carry on paying on the 1st of month, rather than cancel and have to set up an identical one later. What have those who want it to roll over done? (Yes I know there are better rates elsewhere, but I have all those  ).

Just trying to keep effort involved to a minimum

The £250 on 1st October isn't an overpayment, as you can pay in £250 per calendar month.
What you can do is close the associated Easy Saver, that way the Regular Saver will change into an Easy Saver and you can open a new Regular Saver at the end of October.
You'll need to cancel the Standing Order after the 1st October if you do this, which if you want to keep effort to a minimum, is probably easier than posting your enquiry on here!

Snapdragon

surreysaver said:

Snapdragon said:

Halifax RS - Can anyone with experience of this situation, advise what will happen.....
Initially opened late in the month with manual payment, 2nd and remaining payments were made by S/O on the 1st of the month. Its now full (12*£25) = £3000) but doesn't mature until 25th Oct & S/O will try to put another £250 in on the 1st of October. Will they return the extra £250 as an overpayment or not be concerned?
Can I adjust S/O payment date in the app to skip a month to avoid the over-payment, if its likely they will return it?
Don't particularly want to cancel S/O as the RS account should auto roll-over into a new one on the 25th Oct presumably with same details, so I'd want the S/O to carry on paying on the 1st of month, rather than cancel and have to set up an identical one later. What have those who want it to roll over done? (Yes I know there are better rates elsewhere, but I have all those  ).

Just trying to keep effort involved to a minimum

The £250 on 1st October isn't an overpayment, as you can pay in £250 per calendar month 

Brilliant thanks, was assuming it was one of the RS's with a max value. That certainly makes life easier.

surreysaver

Snapdragon said:

surreysaver said:

Snapdragon said:

Halifax RS - Can anyone with experience of this situation, advise what will happen.....
Initially opened late in the month with manual payment, 2nd and remaining payments were made by S/O on the 1st of the month. Its now full (12*£25) = £3000) but doesn't mature until 25th Oct & S/O will try to put another £250 in on the 1st of October. Will they return the extra £250 as an overpayment or not be concerned?
Can I adjust S/O payment date in the app to skip a month to avoid the over-payment, if its likely they will return it?
Don't particularly want to cancel S/O as the RS account should auto roll-over into a new one on the 25th Oct presumably with same details, so I'd want the S/O to carry on paying on the 1st of month, rather than cancel and have to set up an identical one later. What have those who want it to roll over done? (Yes I know there are better rates elsewhere, but I have all those  ).

Just trying to keep effort involved to a minimum

The £250 on 1st October isn't an overpayment, as you can pay in £250 per calendar month 

Brilliant thanks, was assuming it was one of the RS's with a max value. That certainly makes life easier.

Just remember, that if you do let the account rollover, you won't be able to pay £250 in until 1st November if you do pay £250 in in October.
That's why it's better just to close the associated Easy Saver account, cancel the standing order, and open a new Regular Saver after the first one has closed.

Bridlington1

clairec666 said:

flaneurs_lobster said:

Hal17 said:

Clairec666 add a Pending Receipt cell to your spreadsheet. 

...or colour the cell, I use grey until the deposit is confirmed.

Done. Nice to see my balance restored to yesterday's levels (plus interest).

I spend far too much of my time on my spreadsheet

I'm a bit lazier with my spreadsheet than you are it seems so don't have that issue, mine's updated less frequently than yours. I certainly don't go checking account balances as frequently as that.

I just have a tab with a list of all my accounts on it in the form of a table, all that's on this list is account, interest rate, date interest is paid and balance. This list gets copied/pasted and updated once every few months or so (whenever I get round to it). I don't bother to include the interest rates for a lot of the accounts either, the ones that are opened with a minimal balance at a low interest rate don't have the rates updated.

I've then got another tab with all my regular savers listed, a new list is created monthly with Bank/building society, Name, Interest rate, Paid from, Balance prior to deposit, Day of Month it can be paid, Matures, Interest paid, Withdrawals/early closure, Min deposit and Max deposit columns.

For the regular savers tab I just highlight them red if they're not getting funded and are getting closed this month, put them in orange if they're getting minimal/no funding but are to be kept and then green the regular savers off when I fund them. I never bother to check if the funds have arrived unless it's the first time I'm paying them, so far as I'm concerned as soon as it's green it's done.

I've then another tab which contains a list of interest earned to date (updated whenever I update the first tab) and another tab with a list of my nominated accounts (updated as and when).

Most of my other records (e.g. interest rate cuts, Ts&Cs for regular savers etc) are kept on this forum so I don't bother to keep a separate record of them.