The Top Regular Savers Discussion Thread

Digital_Payback

exel1966 said:

Digital_Payback said:

PowerSavingMode said:

fonesaver said:

Bobblehat said:

s71hj said:

Bobblehat said:

s71hj said:

Progressive Rainy Day Issue 4
Obviously COP won't work until tomorrow, so I've done a £1 test payment. Anyone know how long before that will show in online banking? 

from the General T&C's.....

Brill, thanks. I couldn't access details of the account t and cs as it wasn't visible when not logged in and when I was logged in it just said you can't apply as you already have one! 

I just realised I posted for the General T&C's published at the time of Issue 3 ... here are slightly different ones from the updated Issue 4. I'll put a note in my previous post for future readers.

I have sent them a message asking if they intend to increase the rate in version 3 otherwise it's unfair to existing members.

Progressive

Same. In fact, I decided to send them two — one of them might be answered soon (the first one was sent on 3rd Oct)... I will update if they get back and it will still be of relevance/help to everyone here. 

I rang this afternoon for the 2nd time to express my irritation with Progressive. 

I opened the Sunny Saver 3 Acc. on the 18th Sept. and funded Sept. and then again funded at the start of Oct. 

On the 3rd of Oct. I first rang Progressive and an agent confirmed a new Sunny Day Saver 4 was to be launched on Monday. I was told I could not close or cancel the old one. 

Today I removed the funds from it, all but £1 which must remain in the account, and will transfer the £599 to other accounts (Scottish BS) with an equal or higher interest rate.

The real irritation for me is that I had 14 to cancel, but was out by a day or 2 and had funded the account. No consideration was offered or given to change to SD Saver 4. 

Progressive has left a sour taste for now. 

That'll teach them 

I doubt it, but it makes me feel better! 😁😁

s71hj

DealSeeker11 said:

Scottish BS

Can anyone tell me if you have got any automated messages from SBS after submitting your application by email?  I emailed mine off on Fri evening, haven't got any answer today which could be normal but I would have expected an automated reply when the email was sent?

Both myself and my wife got a non automated acknowledgement about a day later. 

Stargunner

Digital_Payback said:

PowerSavingMode said:

fonesaver said:

Bobblehat said:

s71hj said:

Bobblehat said:

s71hj said:

Progressive Rainy Day Issue 4
Obviously COP won't work until tomorrow, so I've done a £1 test payment. Anyone know how long before that will show in online banking? 

from the General T&C's.....

Brill, thanks. I couldn't access details of the account t and cs as it wasn't visible when not logged in and when I was logged in it just said you can't apply as you already have one! 

I just realised I posted for the General T&C's published at the time of Issue 3 ... here are slightly different ones from the updated Issue 4. I'll put a note in my previous post for future readers.

I have sent them a message asking if they intend to increase the rate in version 3 otherwise it's unfair to existing members.

Progressive

Same. In fact, I decided to send them two — one of them might be answered soon (the first one was sent on 3rd Oct)... I will update if they get back and it will still be of relevance/help to everyone here. 

I rang this afternoon for the 2nd time to express my irritation with Progressive. 

I opened the Sunny Saver 3 Acc. on the 18th Sept. and funded Sept. and then again funded at the start of Oct. 

On the 3rd of Oct. I first rang Progressive and an agent confirmed a new Sunny Day Saver 4 was to be launched on Monday. I was told I could not close or cancel the old one. 

Today I removed the funds from it, all but £1 which must remain in the account, and will transfer the £599 to other accounts (Scottish BS) with an equal or higher interest rate.

The real irritation for me is that I had 14 to cancel, but was out by a day or 2 and had funded the account. No consideration was offered or given to change to SD Saver 4. 

Progressive has left a sour taste for now. 

Progressive have done nothing wrong. 

Sometimes you win, sometimes you lose.

No different to buying something, then finding out it gets reduced in price a few weeks later.

I have issue 3, I was happy with it when I opened it, so I will just keep funding it until it matures.

allegro120

DealSeeker11 said:

Scottish BS

Can anyone tell me if you have got any automated messages from SBS after submitting your application by email?  I emailed mine off on Fri evening, haven't got any answer today which could be normal but I would have expected an automated reply when the email was sent?

I didn't receive any automated communication, but received the e-mail next day after submitting my application saying that they can't process it (I cheated, inserted a picture of my signature instead of the wet one and they noticed).  

Digital_Payback

Stargunner said:

Digital_Payback said:

PowerSavingMode said:

fonesaver said:

Bobblehat said:

s71hj said:

Bobblehat said:

s71hj said:

Progressive Rainy Day Issue 4
Obviously COP won't work until tomorrow, so I've done a £1 test payment. Anyone know how long before that will show in online banking? 

from the General T&C's.....

Brill, thanks. I couldn't access details of the account t and cs as it wasn't visible when not logged in and when I was logged in it just said you can't apply as you already have one! 

I just realised I posted for the General T&C's published at the time of Issue 3 ... here are slightly different ones from the updated Issue 4. I'll put a note in my previous post for future readers.

I have sent them a message asking if they intend to increase the rate in version 3 otherwise it's unfair to existing members.

Progressive

Same. In fact, I decided to send them two — one of them might be answered soon (the first one was sent on 3rd Oct)... I will update if they get back and it will still be of relevance/help to everyone here. 

I rang this afternoon for the 2nd time to express my irritation with Progressive. 

I opened the Sunny Saver 3 Acc. on the 18th Sept. and funded Sept. and then again funded at the start of Oct. 

On the 3rd of Oct. I first rang Progressive and an agent confirmed a new Sunny Day Saver 4 was to be launched on Monday. I was told I could not close or cancel the old one. 

Today I removed the funds from it, all but £1 which must remain in the account, and will transfer the £599 to other accounts (Scottish BS) with an equal or higher interest rate.

The real irritation for me is that I had 14 to cancel, but was out by a day or 2 and had funded the account. No consideration was offered or given to change to SD Saver 4. 

Progressive has left a sour taste for now. 

Progressive have done nothing wrong. 

Sometimes you win, sometimes you lose.

No different to buying something, then finding out it gets reduced in price a few weeks later.

I have issue 3, I was happy with it when I opened it, so I will just keep funding it until it matures.

Nothing wrong at all. It’s just business I suppose, to allow someone to open an account, and tie them in for a year, a short time before offering a better product.

As you say - some you win, some you lose. 

But in removing my deposits and placing the money in higher paying accounts, I win. 

Progressive lose, even if it is in a very small way. 

Maybe others will do the same.  

And I’m still a member. I have £1 imprisoned with Progressive. 😆

allegro120

roked said:

Kim_13 said:

s71hj said:

flaneurs_lobster said:

s71hj said:

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. 

Ring them up and ask?

An Internet search came up with this:
The Scottish Building Society freepost address is Freepost RLYC-AAGE-YURH, Scottish Building Society, SBS House, 193 Dalry Road, Edinburgh EH11 2EF. This address can be used to send correspondence without needing a
 stamp. 

We'll know whether it's correct or not when the requested envelopes land - which would surely have the same Freepost letters if so?

Just to let people know, I received my envelope from SBS today (for sending back the cheque) and its just a 1st class pre-paid envelope with the standard address i.e. not freepost. That said, it does have

Business reply plus
licence number 
RLYC-AAGE-YURH

In the top left, which could suggest the freepost address could work.

Scottish BS
I have received it today too, was impressed with the speed.  Requested it on Friday early afternoon, they must have posted it straight away.  However, the pre-paid envelope I received was 2nd class, they must have ran out of 1st class SAE  

Bridlington1

Stargunner said:

Digital_Payback said:

PowerSavingMode said:

fonesaver said:

Bobblehat said:

s71hj said:

Bobblehat said:

s71hj said:

Progressive Rainy Day Issue 4
Obviously COP won't work until tomorrow, so I've done a £1 test payment. Anyone know how long before that will show in online banking? 

from the General T&C's.....

Brill, thanks. I couldn't access details of the account t and cs as it wasn't visible when not logged in and when I was logged in it just said you can't apply as you already have one! 

I just realised I posted for the General T&C's published at the time of Issue 3 ... here are slightly different ones from the updated Issue 4. I'll put a note in my previous post for future readers.

I have sent them a message asking if they intend to increase the rate in version 3 otherwise it's unfair to existing members.

Progressive

Same. In fact, I decided to send them two — one of them might be answered soon (the first one was sent on 3rd Oct)... I will update if they get back and it will still be of relevance/help to everyone here. 

I rang this afternoon for the 2nd time to express my irritation with Progressive. 

I opened the Sunny Saver 3 Acc. on the 18th Sept. and funded Sept. and then again funded at the start of Oct. 

On the 3rd of Oct. I first rang Progressive and an agent confirmed a new Sunny Day Saver 4 was to be launched on Monday. I was told I could not close or cancel the old one. 

Today I removed the funds from it, all but £1 which must remain in the account, and will transfer the £599 to other accounts (Scottish BS) with an equal or higher interest rate.

The real irritation for me is that I had 14 to cancel, but was out by a day or 2 and had funded the account. No consideration was offered or given to change to SD Saver 4. 

Progressive has left a sour taste for now. 

Progressive have done nothing wrong. 

Sometimes you win, sometimes you lose.

No different to buying something, then finding out it gets reduced in price a few weeks later.

I have issue 3, I was happy with it when I opened it, so I will just keep funding it until it matures.

I'd agree. To my mind it's no different as when they released issue 3 in the first place, it was launched at a higher rate than issue 2, those who opened issue 2 missed out by not getting issue 3 but their accounts'll mature sooner than those who opened issue 3 so may become eligible for issue 4 if the account is still available when their accounts mature.

Moreover Progressive BS aren't alone in this, TSB don't allow you to open a new regular saver until the 12 month anniversary of you opening the one you have, FD & HSBC allow you to close your accounts early but this comes at a heavy penalty so I seem to recall many missed out on last year's 7% offering from HSBC for this reason.

I'd also be surprised if the same people complaining to Progressive BS now would also make complaints if they launched a new issue at a lower rate than the previous version but then didn't pass on this cut to existing customers. Presumably not passing on the cut from the launch of a new lower rate issue would be just as unfair as not passing on the increase from the launch of a new higher rate issue since new customers would be getting disadvantaged.

PowerSavingMode

DealSeeker11 said:

Scottish BS

Can anyone tell me if you have got any automated messages from SBS after submitting your application by email?  I emailed mine off on Fri evening, haven't got any answer today which could be normal but I would have expected an automated reply when the email was sent?

Scottish BS

No, not automated, but a personalised message from a named sender the next morning.

Stargunner

Digital_Payback said:

Stargunner said:

Digital_Payback said:

PowerSavingMode said:

fonesaver said:

Bobblehat said:

s71hj said:

Bobblehat said:

s71hj said:

Progressive Rainy Day Issue 4
Obviously COP won't work until tomorrow, so I've done a £1 test payment. Anyone know how long before that will show in online banking? 

from the General T&C's.....

Brill, thanks. I couldn't access details of the account t and cs as it wasn't visible when not logged in and when I was logged in it just said you can't apply as you already have one! 

I just realised I posted for the General T&C's published at the time of Issue 3 ... here are slightly different ones from the updated Issue 4. I'll put a note in my previous post for future readers.

I have sent them a message asking if they intend to increase the rate in version 3 otherwise it's unfair to existing members.

Progressive

Same. In fact, I decided to send them two — one of them might be answered soon (the first one was sent on 3rd Oct)... I will update if they get back and it will still be of relevance/help to everyone here. 

I rang this afternoon for the 2nd time to express my irritation with Progressive. 

I opened the Sunny Saver 3 Acc. on the 18th Sept. and funded Sept. and then again funded at the start of Oct. 

On the 3rd of Oct. I first rang Progressive and an agent confirmed a new Sunny Day Saver 4 was to be launched on Monday. I was told I could not close or cancel the old one. 

Today I removed the funds from it, all but £1 which must remain in the account, and will transfer the £599 to other accounts (Scottish BS) with an equal or higher interest rate.

The real irritation for me is that I had 14 to cancel, but was out by a day or 2 and had funded the account. No consideration was offered or given to change to SD Saver 4. 

Progressive has left a sour taste for now. 

Progressive have done nothing wrong. 

Sometimes you win, sometimes you lose.

No different to buying something, then finding out it gets reduced in price a few weeks later.

I have issue 3, I was happy with it when I opened it, so I will just keep funding it until it matures.

Nothing wrong at all. It’s just business I suppose, to allow someone to open an account, and tie them in for a year, a short time before offering a better product.

As you say - some you win, some you lose. 

But in removing my deposits and placing the money in higher paying accounts, I win. 

Progressive lose, even if it is in a very small way. 

Maybe others will do the same.  

And I’m still a member. I have £1 imprisoned with Progressive. 😆

A lot of people on here already have ALL the higher paying reg savers, so funding the issue 3 will still be worthwhile to them.

PowerSavingMode

Bridlington1 said:

Stargunner said:

Digital_Payback said:

PowerSavingMode said:

fonesaver said:

Bobblehat said:

s71hj said:

Bobblehat said:

s71hj said:

Progressive Rainy Day Issue 4
Obviously COP won't work until tomorrow, so I've done a £1 test payment. Anyone know how long before that will show in online banking? 

from the General T&C's.....

Brill, thanks. I couldn't access details of the account t and cs as it wasn't visible when not logged in and when I was logged in it just said you can't apply as you already have one! 

I just realised I posted for the General T&C's published at the time of Issue 3 ... here are slightly different ones from the updated Issue 4. I'll put a note in my previous post for future readers.

I have sent them a message asking if they intend to increase the rate in version 3 otherwise it's unfair to existing members.

Progressive

Same. In fact, I decided to send them two — one of them might be answered soon (the first one was sent on 3rd Oct)... I will update if they get back and it will still be of relevance/help to everyone here. 

I rang this afternoon for the 2nd time to express my irritation with Progressive. 

I opened the Sunny Saver 3 Acc. on the 18th Sept. and funded Sept. and then again funded at the start of Oct. 

On the 3rd of Oct. I first rang Progressive and an agent confirmed a new Sunny Day Saver 4 was to be launched on Monday. I was told I could not close or cancel the old one. 

Today I removed the funds from it, all but £1 which must remain in the account, and will transfer the £599 to other accounts (Scottish BS) with an equal or higher interest rate.

The real irritation for me is that I had 14 to cancel, but was out by a day or 2 and had funded the account. No consideration was offered or given to change to SD Saver 4. 

Progressive has left a sour taste for now. 

Progressive have done nothing wrong. 

Sometimes you win, sometimes you lose.

No different to buying something, then finding out it gets reduced in price a few weeks later.

I have issue 3, I was happy with it when I opened it, so I will just keep funding it until it matures.

I'd agree. To my mind it's no different as when they released issue 3 in the first place, it was launched at a higher rate than issue 2, those who opened issue 2 missed out by not getting issue 3 but their accounts'll mature sooner than those who opened issue 3 so may become eligible for issue 4 if the account is still available when their accounts mature.

Moreover Progressive BS aren't alone in this, TSB don't allow you to open a new regular saver until the 12 month anniversary of you opening the one you have, FD & HSBC allow you to close your accounts early but this comes at a heavy penalty so I seem to recall many missed out on last year's 7% offering from HSBC for this reason.

I'd also be surprised if the same people complaining to Progressive BS now would also make complaints if they launched a new issue at a lower rate than the previous version but then didn't pass on this cut to existing customers. Presumably not passing on the cut from the launch of a new lower rate issue would be just as unfair as not passing on the increase from the launch of a new higher rate issue since new customers would be getting disadvantaged.

Progressive

"I'd also be surprised if the same people complaining to Progressive BS now would also make complaints if they launched a new issue at a lower rate than the previous version but then didn't pass on this cut to existing customers."

To be clear, I didn't complaint; rather, I sent a message (or two) asking whether it would be possible to close issue 3 of the Regular Rainy Day Saver and/or open the newly launched account.