The Top Regular Savers Discussion Thread

subjecttocontract

Who cares ? It only matters of you can do something about it. Nobody has come up with a definitive answer as to what option works with Principality so, that leaves the wearing of a green shirt and crossing your fingers.

Bobblehat

Catplan said:

Bobblehat said:

s71hj said:

Bobblehat said:

s71hj said:

Bobblehat said:

s71hj said:

Have people received Principality maturity instructions by post or are you finding it by logging in? 

No post/email/text .... the forum is where I saw it first!

Think I'll wait for the weekend and until my green shirt is ironed. 

Hopefully done and dusted! After reading on here that the maturity Instructions for the Xmas RS were now available for accounts maturing 24/10, I logged in to see that the 6 month RS was listed under option 4. I nearly hit the button there and then, but remembered just in time that I hadn't applied for my 1st version of the 6 month RS manually yet! I couldn't see anywhere to apply for it while logged in!

Anyway, logged out, applied for my 1st 6 month RS, required to log back in again, and sent £1 ignoring Santander's COP. I'll see how long it takes to arrive.

While still logged in, completed the maturity instructions for the Xmas RS, so it's a case of waiting to fund another £199 on the 1st one, and seeing what happens on the 24th regarding a 2nd one!

Many thanks to Forumites for their advice in getting me started with the 6 month RS saga ... if it works, that will be great, if not, there's little lost, I'll just need a plan B 

Is the consensus that option 4 is better than option 2?

What was option 2? It's disappeared now that I've made my selection!

Open new 6M RS and transfer £200 with rest going to nominated account.

So the only difference between option 2 and option 4 is that option 4 gives you a wider choice of target account for the £1300 + Int, including your nominated?

Speculator

s71hj said:

Hattie627 said:

Bridlington1 said:

potlings said:

Surely this bubble must burst?

It's bound to eventually, otherwise you'll get people with absurdly high numbers of 6 month RSs.

I seem to recall some have reported PBS manually reviewing and closing some people's accounts that've been opened after they went NLA. Sooner or later I'd imagine they'll run a report on duplicate accounts and do a cull. Alternatively they could remove the RS as a maturity option or manually check maturing accounts.

The question that remains though is when shall the bubble burst.

Some readers will recall the double interest paid on maturing Virgin Money RSs. It went on for ages, a couple of years possibly, through several issues of the account. VM must have been aware of the issue but didn't summon up the energy to solve it, or perhaps it was just too difficult for the IT people.  Who knows. The holding of multiple accounts of the same issue of a short duration Regular Saver pales into insignificance in comparison. PBS should be aware by now, but haven't stopped it, suggesting that it's not worth their effort. Maybe Issue 4 is to be the last of the 6 month accounts.

Reminds me of when our local Coop had  a checkout flaw whereby if you bought something on a BOGOFF that was also reduced as near date it would still take the full BOGOFF amount off, generating negative till receipts. I remember somebody buying a stack of packs of meat and 2 hairdryers to generate an amount owed of sort of £1.50 ish. The lady behind the counter said she had reported it repeatedly. I wonder if these things only get addressed when an organisation are revisiting their systems more widely 

Tesco had something similar with their cartons of chopped tomatoes passata. People were buying truck loads then buying other items they actually want to get the total back to zero.

Bobblehat

Following up from my earlier post .... £1 landed in the newly opened 6 month Princ RS within the hour and the £199 landed too within an hour. So, happy days, roll on the 24th!

Slinky

Regarding multiple Principality RS accounts with the same issue number, does it actually bother them at all? They must be wanting the money for something, and does it matter whether it's from 2 different people with a single account, or one person holding 2 accounts? I don't see them trying to upsell me into any other of their products - mortgages for example.

I'm just very happy I got a glitch with Monmouth when I opened my Exclusive RS so I have 2 x £1K a month @7% Long live their slightly ill-programmed IT systems.

s71hj

The Principality discussion prompted me to check out maturity options in advance of Sunday afternoon's Green shirted endeavours only to discover I have another 6 month 7.36% finishing December , probably from a previous maturity that I haven't funded beyond the initial maturity 200 transfer so I've remedied that and set up standing orders 

Section62

Hattie627 said:

Bridlington1 said:

potlings said:

Surely this bubble must burst?

It's bound to eventually, otherwise you'll get people with absurdly high numbers of 6 month RSs.

I seem to recall some have reported PBS manually reviewing and closing some people's accounts that've been opened after they went NLA. Sooner or later I'd imagine they'll run a report on duplicate accounts and do a cull. Alternatively they could remove the RS as a maturity option or manually check maturing accounts.

The question that remains though is when shall the bubble burst.

Some readers will recall the double interest paid on maturing Virgin Money RSs. It went on for ages, a couple of years possibly, through several issues of the account. VM must have been aware of the issue but didn't summon up the energy to solve it, or perhaps it was just too difficult for the IT people.  Who knows. ....

VM did 'fix' it after a while - by taking the online platform down for 'maintenance' at the critical time.  They also wrote to people who had negative balances in their maturity saving accounts asking for the money to be (re)paid to bring the balance back to (at least) £0.

kermchem

PloughmansLunch said:

Principality RS34 maturity instructions also include 6 month saver issue 4, so along with the Xmas RS maturity just submitted I've hopefully bagged another 2 today

As I reported earlier in the week, the RS Bond issue 34 mature to 6 month RS issue 3 worked for me. Come back and let us know if it works for you.

janusd

Hattie627 said:

To those who have input maturity instructions for a maturing Principality RS and selected a rollover to a 6 month RS (Issue 4)

Whether you chose option 2 or 4, check out your sent secure messages. If there is no sent message transmitting your instructions, you will probably be okay. If there is a sent message, you may find that your instructions will be rejected as they will go to a human who may (or may not) reject them.

chose option 4 this time (usually choose 2) - £200 in another new RS4, the rest to my EA account with - it has generated a secure message to them and have just received their reply...

Thank you for your secure message.

As requested, we will move £200 into a new 6 Month Regular Saver account and the remaining balance to your nominated Principality account. These funds will be in your account by the end of the day and you will keep the same account number.

get in! 

the reply wasn't from our usual unnamed friend, but from another colleague - for the record, I wasn't wearing a green shirt at the time of renewal.

subjecttocontract said:

Who cares ? It only matters of you can do something about it. Nobody has come up with a definitive answer as to what option works with Principality so, that leaves the wearing of a green shirt and crossing your fingers.

not you certainly. 

ChewyyBacca

BestSeagull said:

ChewyyBacca said:

Suffolk BS Reg Saver Online 1 Year Variable Rate Regular Saver (31.03.2026)

Since they reduced rate to 4.6%, I sent a msg to close the account on 1 Oct
On 2 Oct, acct disappeared from Online system
Proceeds received on 7 Oct. 
Im told from 1 Oct to 2 Oct, the balance earned 1.85%. Im assuming the outstanding balance didnt earn anything from 2 Oct to 6 Oct.

Is this as per their Ts&Cs?

The rate chaser in me is peeved that I lost interest for 6 days.Anyone has those handy excel sheets to input numbers so that I see how much I should have received?

I had the same thing happen to me. Not because I closed the account early but because I didn't provide them with maturity instructions. Apparently if you do give instructions, the money is received into your nominated account the day after maturity but if you don't, it's the same holding hostage of the funds at that abysmal rate for several days.
So if you have any other of their RS accounts, make sure to give instructions before they mature. 

BestSeagull Good tip for the other fixed rate RS I hold with Suffolk BS! How did you give maturity instruction to Suffolk?

In case of the variable rate RS, Im not sure what steps I should have taken to access my funds sooner, without loss of interest. 
I had given them clear instruction to send closure proceeds to my nominated account xxxxxxx
Also referenced their email that I received, regarding interest rate reduction and thus I can withdraw without any notice or penalty.