The Top Regular Savers Discussion Thread

friolento

mebu60 said:

What am I missing on the Principality Christmas RS maturity options? I would like the maturity proceeds paid into my existing Principality Triple Access EA account. To close the RS the only option appears to be to send the proceeds elsewhere. Am I not seeing something glaringly obvious or is there really no option for an internal transfer? 

I can't see the options now as I have already given my instructions but there was definitely an option to send some of the balance to another Principality account when rolling over to another RS. 

Can you clarify what your ideal option is? It's not clear whether you want to move your entire balance to the EA account, or just part of it and start a new RS with an initial deposit? Or do you want to start a new RS with a zero deposit?

 

chris_the_bee

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?

Suffolk BS Reg Saver
I queried this with them when I closed an account. For a maturity, they pay by Faster Payment at maturity. For a withdrawal they pay by BACS at 3 working days.

chris_the_bee

ChewyyBacca said:

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.

For a withdrawal they pay by BACS which takes 3 working days.

chris_the_bee

s71hj said:

Hattie627 said:

E_zroda said:

Hattie627 said:

Slinky said:

I think it's the secure message thing that determines whether or not it's manually looked at and noticed. No message = no problem, new account issued. But why a secure message is generated for some, I don't think anybody on here has actually worked out, have they?

Exactly where we got to last time. Secure message determines it but it remains a mystery why secure message generated sometimes and not other times.

Some of the earlier theories included whether instructions are done out of office hours, non?

Yes indeed.

I think that may be the only theory left standing. I'll do mine and my wife's Sunday afternoon

I have successfully opened new 6M accounts by completing online instructions after close of business the day prior to maturity. This does not allow time for any manual intervention.

friolento

chris_the_bee said:

s71hj said:

Hattie627 said:

E_zroda said:

Hattie627 said:

Slinky said:

I think it's the secure message thing that determines whether or not it's manually looked at and noticed. No message = no problem, new account issued. But why a secure message is generated for some, I don't think anybody on here has actually worked out, have they?

Exactly where we got to last time. Secure message determines it but it remains a mystery why secure message generated sometimes and not other times.

Some of the earlier theories included whether instructions are done out of office hours, non?

Yes indeed.

I think that may be the only theory left standing. I'll do mine and my wife's Sunday afternoon

I have successfully opened new 6M accounts by completing online instructions after close of business the day prior to maturity. This does not allow time for any manual intervention.

My Principality maturity instructions were placed around 11 am today, definitely in business hours, and well before the matuirty date. Similar for several other Principality RSs, and several requesting roll-over to new 6 month RSs. I never had any rejection, or any secure messages generated from the maturity instructions. 

There goes the "out of office hours" theory. Up in a puff.

s71hj

friolento said:

chris_the_bee said:

s71hj said:

Hattie627 said:

E_zroda said:

Hattie627 said:

Slinky said:

I think it's the secure message thing that determines whether or not it's manually looked at and noticed. No message = no problem, new account issued. But why a secure message is generated for some, I don't think anybody on here has actually worked out, have they?

Exactly where we got to last time. Secure message determines it but it remains a mystery why secure message generated sometimes and not other times.

Some of the earlier theories included whether instructions are done out of office hours, non?

Yes indeed.

I think that may be the only theory left standing. I'll do mine and my wife's Sunday afternoon

I have successfully opened new 6M accounts by completing online instructions after close of business the day prior to maturity. This does not allow time for any manual intervention.

My Principality maturity instructions were placed around 11 am today, definitely in business hours, and well before the matuirty date. Similar for several other Principality RSs, and several requesting roll-over to new 6 month RSs. I never had any rejection, or any secure messages generated from the maturity instructions. 

There goes the "out of office hours" theory. Up in a puff.

I know it's not the be all and end all but it may be a factor that reduces the chances of human input and therefore manually instigated rejection. It seems like human intervention is the thing to try and find a way to avoid. 

cheekyweegit

My Christmas Saver maturity instructions have just shown up, due to mature 25.10.25 and a Regular Saver 4 has been offered.  That makes 3 Regular Saver 4's for me now.

2 Regular Saver 3's which are due to mature at the start of November and middle of December so will see what happens there.

For information purposes, I chose option 2 and I'm not wearing anything remotely green, but did consider it before going rogue.

masonic

s71hj said:

friolento said:

chris_the_bee said:

s71hj said:

Hattie627 said:

E_zroda said:

Hattie627 said:

Slinky said:

I think it's the secure message thing that determines whether or not it's manually looked at and noticed. No message = no problem, new account issued. But why a secure message is generated for some, I don't think anybody on here has actually worked out, have they?

Exactly where we got to last time. Secure message determines it but it remains a mystery why secure message generated sometimes and not other times.

Some of the earlier theories included whether instructions are done out of office hours, non?

Yes indeed.

I think that may be the only theory left standing. I'll do mine and my wife's Sunday afternoon

I have successfully opened new 6M accounts by completing online instructions after close of business the day prior to maturity. This does not allow time for any manual intervention.

My Principality maturity instructions were placed around 11 am today, definitely in business hours, and well before the matuirty date. Similar for several other Principality RSs, and several requesting roll-over to new 6 month RSs. I never had any rejection, or any secure messages generated from the maturity instructions. 

There goes the "out of office hours" theory. Up in a puff.

I know it's not the be all and end all but it may be a factor that reduces the chances of human input and therefore manually instigated rejection. It seems like human intervention is the thing to try and find a way to avoid. 

It seems likely that the secure message is some sort of fallback when the automated process fails for whatever reason. It could just be an unpredictable glitch between the systems processing the instructions that causes this. There is a risk that if a secure message is required and there isn't enough time for manual intervention, the default maturity option will be followed as if no instructions were submitted. Though doing it out of hours well before maturity should at worst make no difference to the outcome.

Bob2000

Principality BS  6 month RS  maturity  saga.

I've been reading the last days the ongoing saga of  how to get multiple  same issues of the 6 month RS.

I myself could potentially gain three issues. 4. But decided to close the RSs and send funds back to a nominated account instead.
The reason being, to fund both of my monmouthshire  6 and 7% RSs.

So if my funds are limited, am l being sensible?

clairec666

Bob2000 said:

Principality BS  6 month RS  maturity  saga.

I've been reading the last days the ongoing saga of  how to get multiple  same issues of the 6 month RS.

I myself could potentially gain three issues. 4. But decided to close the RSs and send funds back to a nominated account instead.
The reason being, to fund both of my monmouthshire  6 and 7% RSs.

So if my funds are limited, am l being sensible?

Well, personally I would have stuck with Principality as it pays a higher interest rate, plus the rate is fixed.

Or you could keep Monmouthshire and Principality, but not fully fund them each month.

Depends whether you like the simplicity of having all your savings in the same place, or if you'd spread it around for the sake of a little bit more interest. Both approaches are fine, it's down to personal choice.

If you factor in the time taken reading through this thread to deduce the best Principality strategy, plus ironing your best green shirt, the higher interest rate might not be worth it