The Top Regular Savers Discussion Thread

Hattie627

Growingold said:

clairec666 said:

subjecttocontract said:

I've already got x2 issue 4's and have been allowed a third issue 4 at maturity. Let's face it, we need a few issue 3's &/or issue 4's cos they only pay £26 in interest each. So only one is hardly worth bothering with.

We'll have to agree to disagree on that one. The interest doesn't seem much because of the short time scale, but that money is getting a higher interest rate than it would elsewhere. If Principality suddenly started sticking to their rules and restricting us to one (of each issue - so you could end up with two, £50+ interest altogether) I would still have one. It's no hassle for me as I already have an ISA with them.

Exactly
As Tesco says "every little helps"   
Also "look after the pennies and the pounds will look after themselves"
And "great trees out of little acorns grow"

I agree.

The Regular Saver game is about having as many high interest RSs as you can open and can manage (both funds-wise and time-wise). Yes, a few is better than none but more is better than a few, to maximise your return.

clairec666

Hattie627 said:

Growingold said:

clairec666 said:

subjecttocontract said:

I've already got x2 issue 4's and have been allowed a third issue 4 at maturity. Let's face it, we need a few issue 3's &/or issue 4's cos they only pay £26 in interest each. So only one is hardly worth bothering with.

We'll have to agree to disagree on that one. The interest doesn't seem much because of the short time scale, but that money is getting a higher interest rate than it would elsewhere. If Principality suddenly started sticking to their rules and restricting us to one (of each issue - so you could end up with two, £50+ interest altogether) I would still have one. It's no hassle for me as I already have an ISA with them.

Exactly
As Tesco says "every little helps"   
Also "look after the pennies and the pounds will look after themselves"
And "great trees out of little acorns grow"

I agree.

The Regular Saver game is about having as many high interest RSs as you can open and can manage (both funds-wise and time-wise). Yes, a few is better than none but more is better than a few, to maximise your return.

Nice point about time. Everyone's got their own thresholds of how much time they're prepared to spend for a tad more interest. I can see why some people can't be bothered with low-deposit accounts like the YBS £50 one, but for me it was worth it (at 8%... I haven't bothered with the 6% one). Every little extra bit of interest adds up. Although Monmouthshire's 7% has made it easy for people to stick larger amounts in the same place and not have to faff around with lots of smaller accounts.

OrangeBlueGreen

Bridlington1 said:

subjecttocontract said:

Hattie627 said:

clairec666 said:

janusd said:

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. 

Last time out (early Sep?) I didn't generate or receive any kind of secure message, my maturity instructions were accepted and I my account rolled over into the latest issue but with the same account number as before.

Can't remember for the life of me whether I chose option 2 or 4. But judging from other people's experiences, it sounds like option 2 is the one to go for, option 4 gets checked by a human and you might get lucky.

I've always used option 4 and never been turned down for a rollover to the 6 month RS. I think (but I may stand to be corrected) that the general consensus when previously discussing this was that the choice of option 2 or option 4 did not affect whether instructions to rollover to a 6mthRS were/were not accepted.

But someone already suggested it depends on wether you were wearing a green shirt. 😁😁

I was drinking green tea but not wearing a shirt the last time I did mine and it worked.

This reminds me of Mystic Meg’s winner predictions in the 90s on the National Lottery shows!

OrangeBlueGreen

allegro120 said:

What_time_is_it said:

Ed-1 said:

What_time_is_it said:

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?

You have to fund the account within 30 days of opening, otherwise it automatically deactivates.

That’s a good point. It opened in August, so well past 30 days. But it is still showing as active in my app. 

Monmouthshire Regular Saver (issue 8) - duplicate account
I've attempted to fund it 3 times, every time the funds were returned the next day.  The account was showing in my app for about a month and then disappeared.  

That’s what they told me “duplicates and closed accounr will drop off the app after 31 days”

Bob2000

clairec666 said:

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 

Yes, I definitely find it personally better, having all my funds in one place and that,  and the large  amount (for me) you can deposit attractive.

No green shirt for me, just my socks and pants!

where_are_we

Principality - I have a RS35 maturing soon. What are the chances of one of the maturity options being a 6 Month RS4?

francoghezzi

SORRY, BUT ...
Hundreds of posts on Principality and then you do the math. 26 pounds interests in 6 months, that means 52 in a year opening again the same account. If I deposit the same amount of money in a Lloyds 6.25% (£400 every month for the first 3 months equal 1200) I got 70 pounds in interests at the end of the same year (£20 more than Principality) keeping 'invested' the same amount of money. So, what ? I will go for a 12 months Rs all my life, not to mention higher Rs paying more than Lloyds ...
Where and how am I wrong?

CricketLady

Hello Francoghezzi,

No need to apologise and I'm sure lots more savvy members will have better answers but in my case, I don't pay tax on my hard earned cash as I'm taking a break from work so rather than have any of my cash sitting at 5% Cahoot I'd much rather have as many accounts paying 6% upwards no matter what the time frame.  If I could have another 6.25% regular saver with Lloyds I would, I'd have 5 if they'd let me, but they only let you have one.  And I have all of the others (I currently feed 52 with about £10k per month, a mix of new cash as my husband is a higher earner and recycled funds) but again, others on here will probably have more than 52!

Have a lovely day xx

Hattie627

francoghezzi said:

Where and how am I wrong?

It's not either/or. It's both/and

Hattie627

where_are_we said:

Principality - I have a RS35 maturing soon. What are the chances of one of the maturity options being a 6 Month RS4?

Pretty good chances, I'd say. Check out 14 days before your RS35 matures. Your maturity options should be showing under your RS35 account then.  You will find the 6 month RS4 as a rollover option. Make sure you have a green shirt on when selecting.