The Top Regular Savers Discussion Thread

Kim_13

Hattie627 said:

Kim_13 said:

jim1999 said:

SH88SH88 said:

From section 9.3 (e) of the Coventry Sunny Saver ....
"(e) The purpose of each prize draw is to encourage a small amount of saving each month. If we believe you've not saved in this spirit, we may disqualify you from winning the Additional Prize Draw and/or any of the Monthly Prize Draws."

Seems somewhat bizarre,  and, almost unenforceable.  Without mind reading abilities,  how do they know the 'spirit' that somebody saved in ?

It is probably just a bit of a catch-all term that helps if some abusive practice pops up, rather than them having considered what those abusive practices might actually be in advance.

You see very similar in the terms of gambling promotions where they more or less reserve the right to prevent you participating.

I agree though, it's hard to imagine what would come under this.  Perhaps if 50 people all supposedly living at the same address started putting £10 per month in it would seem suspicious.  Who knows.

Withdrawing £10 after each draw and then adding the same £10 back in order to qualify for the next one is the scenario that comes to mind.

The account seems designed for small savers and/or those new to using a savings account. Who's to say that the person withdrawing £10 which they previously lodged was withdrawing it to buy food for their children rather than trying to manipulate the prize draw terms. The account specifically allows unlimited withdrawals without notice or penalty. 

I'm sure that view would be taken if the occasional withdrawal brought the account to a minimal balance, but doing the same thing every month looks more like manufacturing a prize draw entry than a genuine intention to save.

Malchester

I don't mind if loads of people are excluded from the prize draw as it improves my chances

s71hj

Am I misremembering or did I read on here that there is a clever way to get multiple Sunny Day Cahoot 5% savers? Suddenly all my RS s are maturing and I need a temporary home until the passage of the months mean it all empties back out into the Monmouthshire goldmine. 

shirley999

s71hj said:

Am I misremembering or did I read on here that there is a clever way to get multiple Sunny Day Cahoot 5% savers? Suddenly all my RS s are maturing and I need a temporary home until the passage of the months mean it all empties back out into the Monmouthshire goldmine. 

You're able to upgrade your existing savings accounts to sunny day saver, eg Cahoot Savings Account.

s71hj

shirley999 said:

s71hj said:

Am I misremembering or did I read on here that there is a clever way to get multiple Sunny Day Cahoot 5% savers? Suddenly all my RS s are maturing and I need a temporary home until the passage of the months mean it all empties back out into the Monmouthshire goldmine. 

You're able to upgrade your existing savings accounts to sunny day saver, eg Cahoot Savings Account.

I have a sole and a joint, then there was a 3rd one that I thought was also at 5% as did my wife but when we looked the 3rd one was showing as 0%.  I don't  have any other Cahoot accounts to upgrade sadly. 

mon3ysav3r

s71hj said:

shirley999 said:

s71hj said:

Am I misremembering or did I read on here that there is a clever way to get multiple Sunny Day Cahoot 5% savers? Suddenly all my RS s are maturing and I need a temporary home until the passage of the months mean it all empties back out into the Monmouthshire goldmine. 

You're able to upgrade your existing savings accounts to sunny day saver, eg Cahoot Savings Account.

I have a sole and a joint, then there was a 3rd one that I thought was also at 5% as did my wife but when we looked the 3rd one was showing as 0%.  I don't  have any other Cahoot accounts to upgrade sadly. 

There seems to be a glitch which makes it show at 0%, if below 3000 remove a quid, or add a quid depending on how much you have in, if above 3000 try making it 2999, and next day it will probably show the correct 4.89% (for monthly interest).

s71hj

mon3ysav3r said:

s71hj said:

shirley999 said:

s71hj said:

Am I misremembering or did I read on here that there is a clever way to get multiple Sunny Day Cahoot 5% savers? Suddenly all my RS s are maturing and I need a temporary home until the passage of the months mean it all empties back out into the Monmouthshire goldmine. 

You're able to upgrade your existing savings accounts to sunny day saver, eg Cahoot Savings Account.

I have a sole and a joint, then there was a 3rd one that I thought was also at 5% as did my wife but when we looked the 3rd one was showing as 0%.  I don't  have any other Cahoot accounts to upgrade sadly. 

There seems to be a glitch which makes it show at 0%, if below 3000 remove a quid, or add a quid depending on how much you have in, if above 3000 try making it 2999, and next day it will probably show the correct 4.89% (for monthly interest).

So I upgraded it to a simple saver then immediately upgraded it back to a Sunny Day. It currently has £1 in but still shows 0%. I will check tomorrow. I guess I could open more Simple Savers then immediately upgrade them to Sunny Day ones - anyone tried this?! 

SJMALBA

Am I correct in thinking that Mon BS accounts run from the date of 1st deposit, rather than opening date?

easysaver

Moneyfacts showing Yorkshire BS £50 Regular Saver @ 8%. Not currently showing on YBS.co.uk

Previously indicated by @Bridlington1 although iirc the rate was unknown at the time.

Bobblehat

SJMALBA said:

Am I correct in thinking that Mon BS accounts run from the date of 1st deposit, rather than opening date?

The RS's run from date of 1st deposit.