The Top Regular Savers Discussion Thread

granta

BestSeagull said:

granta said:

BestSeagull said:

granta said:

Suffolk Building Society - Regular saver ending Sept 2025

This has matured into a holding account but I can't see how to withdraw the funds online. Any ideas?

I'm sorry. It's bad news, I'm in this situation too. Apparently if we had given maturity instructions prior to the account maturing (I was told a letter was sent and also possible to do online within 14 days prior to closure) then the funds would have arrived into the nominated account by close of business today.

As it stands, the only way to get the money out is to make a request by secure message, which will take up to two business days for a response, then wait 3 more business days while they do a BACS transfer. All the while it's earning less than 2%. Horrifying! I've made a note for my other accounts to stay on top of future maturity instructions!

Thanks, it will have to do! I don't recall receiving a letter but it's been a busy few weeks so probably my fault!

Same here!
I forgot to mention. They asked that the last 4 digits of the nominated account number be mentioned in the secure message so they can check them against the information they have on file.

Ok thanks. I will send them my third message of the evening and hope they can send the funds in the shortest possible time now. I didn't have a full balance so the loss is not too large

Kim_13

As they want less ID to apply by post than in person, I wonder if that is the reason for insisting on a cheque - effectively counting the cheque as the second piece of ID.

gt94sss2

fuzzzzy said:

jameseonline said:

Stargunner said:

Kim_13 said:

Stargunner said:

I applied for the Scottish BS RS this morning by email.
Just had an email from them advising that the account is now open and ready to be funded. They have asked me to post them a cheque. I have emailed them back advising that I don’t have a cheque book, and  have asked if I can do a bank transfer from my nominated bank .

Thanks, please let us know what they say. If it's necessary to post a cheque then there's little point to an emailed application, as it doesn't save the postage.

Just had the following email response from them 

Regrettably, for postal applications, the initial payment must be made by personal cheque drawn from a UK Bank or Building Society account in your name. This requirement is stated at the bottom of our application form.

Please confirm whether you are able to provide a cheque from an account held in your name. Unfortunately, if this is not possible, we will be unable to proceed with your application.

Cheque only?, how archaic 

I would not be so bothered about the cheque requirements, I can dig out my old cheque book. I'm more bothered by the ID requirements. Does everyone need to supply ID, can they not verify anyone electronically? 

My reading of Scottish BS's requirements was that you didn't need to email your id documents to them and that were only needed if electronic verification failed.

I could be wrong. Their website/pdf on this is unclear..

WillPS

Kim_13 said:

As they want less ID to apply by post than in person, I wonder if that is the reason for insisting on a cheque - effectively counting the cheque as the second piece of ID.

Would make sense, except they don't seem to demand the cheque is drawn from an account in the same name?

kermchem

WillPS said:

Kim_13 said:

As they want less ID to apply by post than in person, I wonder if that is the reason for insisting on a cheque - effectively counting the cheque as the second piece of ID.

Would make sense, except they don't seem to demand the cheque is drawn from an account in the same name?

Last tiny font line of the application form says "For postal applications your first deposit must be made by cheque and must be issued from a UK Bank or Building Society Account in your name"

Now it doesn't specify who the cheque must be made out to! I hope "Scottish Building Scoiety a/c name" will work.

PowerSavingMode

gt94sss2 said:

fuzzzzy said:

jameseonline said:

Stargunner said:

Kim_13 said:

Stargunner said:

I applied for the Scottish BS RS this morning by email.
Just had an email from them advising that the account is now open and ready to be funded. They have asked me to post them a cheque. I have emailed them back advising that I don’t have a cheque book, and  have asked if I can do a bank transfer from my nominated bank .

Thanks, please let us know what they say. If it's necessary to post a cheque then there's little point to an emailed application, as it doesn't save the postage.

Just had the following email response from them 

Regrettably, for postal applications, the initial payment must be made by personal cheque drawn from a UK Bank or Building Society account in your name. This requirement is stated at the bottom of our application form.

Please confirm whether you are able to provide a cheque from an account held in your name. Unfortunately, if this is not possible, we will be unable to proceed with your application.

Cheque only?, how archaic 

I would not be so bothered about the cheque requirements, I can dig out my old cheque book. I'm more bothered by the ID requirements. Does everyone need to supply ID, can they not verify anyone electronically? 

My reading of Scottish BS's requirements was that you didn't need to email your id documents to them and that were only needed if electronic verification failed.

I could be wrong. Their website/pdf on this is unclear..

Scottish BS RS 

That's my interpretation, too. I'll try on Friday via email and null ID (apart from my driving licence number).

masonic

gt94sss2 said:

fuzzzzy said:

jameseonline said:

Stargunner said:

Kim_13 said:

Stargunner said:

I applied for the Scottish BS RS this morning by email.
Just had an email from them advising that the account is now open and ready to be funded. They have asked me to post them a cheque. I have emailed them back advising that I don’t have a cheque book, and  have asked if I can do a bank transfer from my nominated bank .

Thanks, please let us know what they say. If it's necessary to post a cheque then there's little point to an emailed application, as it doesn't save the postage.

Just had the following email response from them 

Regrettably, for postal applications, the initial payment must be made by personal cheque drawn from a UK Bank or Building Society account in your name. This requirement is stated at the bottom of our application form.

Please confirm whether you are able to provide a cheque from an account held in your name. Unfortunately, if this is not possible, we will be unable to proceed with your application.

Cheque only?, how archaic 

I would not be so bothered about the cheque requirements, I can dig out my old cheque book. I'm more bothered by the ID requirements. Does everyone need to supply ID, can they not verify anyone electronically? 

My reading of Scottish BS's requirements was that you didn't need to email your id documents to them and that were only needed if electronic verification failed.

I could be wrong. Their website/pdf on this is unclear..

Emailing the postal application form is a non-standard way of applying. It is not an online application, as you cannot apply for this account online. Therefore the relevant section will be for postal applications:

They are using the licence number to run electronic checks, which a few other savings providers do, but they also ask for a photocopy for some unknown reason. If electronic verification fails, the un-certified photocopies are insufficient, so they will follow up and ask you to get the document certified.

Then there is the issue of the cheque, which I agree with others forms a second piece of identity verification for a postal application (this is also something other providers use). You cannot provide a photocopy of your cheque in an email. Although a sending a photocopy of a cheque by email is safer than sending a photocopy of your passport or driving licence.

Easiest and safest option, although not cheapest, is to post the application, ID and cheque together. One person mentioned getting them to send an application form by post. Perhaps this would arrive with a postage paid return envelope.

topyam

Am tempted to leave this one a few days to see how it plays out and what's expected

Though is it too good a rate to take the risk as they could end up pulling it....

BestSeagull

masonic said:

gt94sss2 said:

fuzzzzy said:

jameseonline said:

Stargunner said:

Kim_13 said:

Stargunner said:

I applied for the Scottish BS RS this morning by email.
Just had an email from them advising that the account is now open and ready to be funded. They have asked me to post them a cheque. I have emailed them back advising that I don’t have a cheque book, and  have asked if I can do a bank transfer from my nominated bank .

Thanks, please let us know what they say. If it's necessary to post a cheque then there's little point to an emailed application, as it doesn't save the postage.

Just had the following email response from them 

Regrettably, for postal applications, the initial payment must be made by personal cheque drawn from a UK Bank or Building Society account in your name. This requirement is stated at the bottom of our application form.

Please confirm whether you are able to provide a cheque from an account held in your name. Unfortunately, if this is not possible, we will be unable to proceed with your application.

Cheque only?, how archaic 

I would not be so bothered about the cheque requirements, I can dig out my old cheque book. I'm more bothered by the ID requirements. Does everyone need to supply ID, can they not verify anyone electronically? 

My reading of Scottish BS's requirements was that you didn't need to email your id documents to them and that were only needed if electronic verification failed.

I could be wrong. Their website/pdf on this is unclear..

Emailing the postal application form is a non-standard way of applying. It is not an online application, as you cannot apply for this account online. Therefore the relevant section will be for postal applications:

Easiest and safest option, although not cheapest, is to post the application, ID and cheque together. One person mentioned getting them to send an application form by post. Perhaps this would arrive with a postage paid return envelope.

Scottish BS. I was told they do provide a pre-paid envelope with the application package, so hopefully this is correct. I went ahead and applied by email yesterday but my plan is to send the cheque, plus any additional ID if they request it, using their envelope when it arrives.

s71hj

BestSeagull said:

masonic said:

gt94sss2 said:

fuzzzzy said:

jameseonline said:

Stargunner said:

Kim_13 said:

Stargunner said:

I applied for the Scottish BS RS this morning by email.
Just had an email from them advising that the account is now open and ready to be funded. They have asked me to post them a cheque. I have emailed them back advising that I don’t have a cheque book, and  have asked if I can do a bank transfer from my nominated bank .

Thanks, please let us know what they say. If it's necessary to post a cheque then there's little point to an emailed application, as it doesn't save the postage.

Just had the following email response from them 

Regrettably, for postal applications, the initial payment must be made by personal cheque drawn from a UK Bank or Building Society account in your name. This requirement is stated at the bottom of our application form.

Please confirm whether you are able to provide a cheque from an account held in your name. Unfortunately, if this is not possible, we will be unable to proceed with your application.

Cheque only?, how archaic 

I would not be so bothered about the cheque requirements, I can dig out my old cheque book. I'm more bothered by the ID requirements. Does everyone need to supply ID, can they not verify anyone electronically? 

My reading of Scottish BS's requirements was that you didn't need to email your id documents to them and that were only needed if electronic verification failed.

I could be wrong. Their website/pdf on this is unclear..

Emailing the postal application form is a non-standard way of applying. It is not an online application, as you cannot apply for this account online. Therefore the relevant section will be for postal applications:

Easiest and safest option, although not cheapest, is to post the application, ID and cheque together. One person mentioned getting them to send an application form by post. Perhaps this would arrive with a postage paid return envelope.

Scottish BS. I was told they do provide a pre-paid envelope with the application package, so hopefully this is correct. I went ahead and applied by email yesterday but my plan is to send the cheque, plus any additional ID if they request it, using their envelope when it arrives.

Is there a way to get them to send you an application form with envelope - I can only see a link  to download the form.