The Top Regular Savers Discussion Thread

Kim_13

A fully funded 6 Month Principality RS would, on maturity, yield roughly £1,230 - £1,000 to fund Monmouthshire App Exclusive RS @ 7%, £200 for a rollover and the c. £30 interest to go into the Monmouthshire Branch Exclusive @ 7% if you have it, or their 6% version if you don't. Or to spend (I know some prefer to build the capital and see the interest as a treat) or some other RS.

Personally, I have no interest in putting more than £1,000 per month in Monmouthshire, as when the account matures at the end of August, that means having £6,000 to distribute for August and £6,000 for September (plus interest.) I pretty much filled every RS I had in August this year when Skipton matured with £3,000 in it. I have the Monmouthshire 6%, but only because it launched before the 7% version. It is now an overflow account and will be used to fund the 7% by internal transfer in months that I don't have £1,000 available. Not trying for an extra Principality 6 Month at the end of September turned out well for me as I now have an almost fully funded Progressive at 7% maturing next October, which I would have had to gamble on still being available later had I rolled Principality over. Until that time I had only done it due to not wanting the balance to be paid out until October, to make meeting monthly pay ins easier. I probably could have opened an EA with them and tried to do both, but did not think of it at the time.

A Principality is rate wise the best thing, but that relies on a second one being available in 6 months - otherwise that money could have been earning 7% at First Direct, Co Op or Progressive assuming no change in their rates, but the full £1,200 can't be put there in one go in 6 months time.

mebu60

friolento said:

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?

 

Entire balance to existing EA account. I do not want a new RS. I have rolled-over RSs previously and sent the remainder of the balance to the EA. But this time I want to close the RS and send the full proceeds to the EA. Seems bizarre that this is not an option but I can pay the proceeds away to an external account. Which is why I'm sanity checking on here that I'm not missing something obvious before I don an old green football shirt and send them a secure message. 

s71hj

So myself and my wife have now had maturity options through the post for Principality . As with previous account maturity, the form doesn't contain a tick box for choosing RS 4 presumably as I already have it, although the literature about it is enclosed in the envelope. It is however available in my online options and I intend to submit today or tomorrow although still in two minds between option 2 and 4.

janusd

mebu60 said:

friolento said:

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? 

Entire balance to existing EA account. I do not want a new RS. I have rolled-over RSs previously and sent the remainder of the balance to the EA. But this time I want to close the RS and send the full proceeds to the EA. Seems bizarre that this is not an option but I can pay the proceeds away to an external account. Which is why I'm sanity checking on here that I'm not missing something obvious before I don an old green football shirt and send them a secure message. 

my recollection is that there is an option to move the entire balance, but as i've already chosen, I cannot see or remember which one it would be.

if you can't see it, you might as well just use the link from account services -> savings maturity enquiry, choose your Christmas RS from the dropdown and then send them a message that way - I wouldn't expect a green shirt to be required for this.   

edit - just a further thought, but there is an option on the paper form, to close and move the entire balance to either a PBS account or externally... so I assume there must be an option online to do the same.

allegro120

Newcastle BS
Do they process withdrawals at weekends?  My RS is maturing on Saturday 25th and the money will be moved to Easy Saver paying 2%.  Just wondering if I should withdraw on Saturday or wait until Monday.

What_time_is_it

Monmouthshire Regular Saver (issue 8) - duplicate account

Hi there. I opened the above account at 6%, and subsequently opened both the branch and app exclusive accounts at 7%. So far so good, and all happy… However, when I opened the Regular Saver they accidently opened 2 accounts of the same type and issue. I asked about this at the time and they said they would just close the one that I don’t fund. But they haven’t! 

So my question is, should I start sticking £500 a month into this “duplicate” account and see what happens? Or is that a bit risky? 

What do you think?

Hattie627

Principality

I can't recall the details (sometime early last year) but I have a recollection of instructing RS maturity funds to move to a Principality EA Triple Access account which I had at the time, then getting an apparently auto-generated secure message saying this wasn't possible. I left the RS to mature into whatever was the default option at the time, and then at the maturity date found, lo and behold, that the funds had moved to the EA Triple Access after all. May be worth phoning them. 

badger09

s71hj said:

So myself and my wife have now had maturity options through the post for Principality . As with previous account maturity, the form doesn't contain a tick box for choosing RS 4 presumably as I already have it, although the literature about it is enclosed in the envelope. It is however available in my online options and I intend to submit today or tomorrow although still in two minds between option 2 and 4.

Really?
I too have received maturity instructions today by post. 

There are 4 options in green boxes, one of which is ‘Reinvest some of your savings. Open a new account and send the remainder to me’ below which is printed ‘New Regular Saver Bond name:’ with a white box for me to enter the name. 

Do you not have that on yours?

CricketLady

s71hj said:

So myself and my wife have now had maturity options through the post for Principality . As with previous account maturity, the form doesn't contain a tick box for choosing RS 4 presumably as I already have it, although the literature about it is enclosed in the envelope. It is however available in my online options and I intend to submit today or tomorrow although still in two minds between option 2 and 4.

If this helps I had my information through the post also today, as did my daughter, as our accounts mature on the 25th.  We both went online and selected option 4 and so far all looks good.  We elected to put £200 into new Issue 4 accounts even though we both have two of these, one maturing in February, the next March, (so this third one will mature in April, very pleasing!) and have the remaining £1300 sent to our nominated accounts.  

With regard to option 2 versus option 4, it seems to me that they are the same, as when you click on option 4 it asks "which account would you like to open and with how much?" so when you simply select issue 4 (little circle to the left of the options to press) you can then input £200, then it asks where you would like the remainder of your cash to go - you have to give sort code and account number then it does a check to see if the name and these match.

All being well we're all set to put another £200 into our accounts on the 1st of November and for maturity to be 25th April 2026.

Hope this helps, good luck! xx

Speculator

allegro120 said:

Newcastle BS
Do they process withdrawals at weekends?  My RS is maturing on Saturday 25th and the money will be moved to Easy Saver paying 2%.  Just wondering if I should withdraw on Saturday or wait until Monday

I don't think so but you could try withdrawing £1 today.