The Top Regular Savers Discussion Thread

topyam

So...
The Newcastle BS RS seems identical to the Manchester BS RS...
Not sure how i missed that one
RS with a high deposit limit appeal to me - more interest!

GetRichOrDieSaving

Manchester BS & Newcastle BS

Im sure this has been discussed before and apologies for not wanting to scroll back through 785 pages, but can someone confirm the following:

- Can you hold both accounts (I assume yes)?
- Are you limited to £500/per month even if you have withdrawn some, i.e can you put it back in? (I assume no)?

Cweb

judgingjudy said:

I’d like to open the Monument saver before it’s pulled, but can someone tell me if it needs to be funded straightaway, or if I’ve got a few days to do it? Thanks if you can. 

The literature you receive in online banking states 14 days to fund otherwise will be closed.

GetRichOrDieSaving

Cweb said:

judgingjudy said:

I’d like to open the Monument saver before it’s pulled, but can someone tell me if it needs to be funded straightaway, or if I’ve got a few days to do it? Thanks if you can. 

The literature you receive in online banking states 14 days to fund otherwise will be closed.

Do you know if the maturity date is from opening or first deposit? 

Bridlington1

GetRichOrDieSaving said:

Manchester BS & Newcastle BS

I'm sure this has been discussed before and apologies for not wanting to scroll back through 785 pages, but can someone confirm the following:

- Can you hold both accounts (I assume yes)?
- Are you limited to £500/per month even if you have withdrawn some, i.e can you put it back in? (I assume no)?

You can hold both accounts, withdrawn funds can not be replaced.

Account can also be held alongside their regular saver issue 1, which remains available at 5.25%.

masonic

topyam said:

Middle_of_the_Road said:

topyam said:

What's the attraction of the Newcastle RS? 

Is it the 24 month term? Over £600 interest if the max amount deposited each month?
Has anybody any experience of Newcastle BS?

Decent account.
Yes and yes
Yes, got their other regular saver, no problems.

Thanks! 

Will look at opening it later. 

Wonder how long it will stay around for...

I think I'm going to risk it still being around at the end of the month. I won't feel too hard done by if I miss out as I am running out of money to distribute after the recent flurry of high limit accounts.

This one is worth opening speculatively as it could come into its own if interest rates start falling again next year.

GetRichOrDieSaving

Bridlington1 said:

GetRichOrDieSaving said:

Manchester BS & Newcastle BS

I'm sure this has been discussed before and apologies for not wanting to scroll back through 785 pages, but can someone confirm the following:

- Can you hold both accounts (I assume yes)?
- Are you limited to £500/per month even if you have withdrawn some, i.e can you put it back in? (I assume no)?

You can hold both accounts, withdrawn funds can not be replaced.

Account can also be held alongside their regular saver issue 1, which remains available at 5.25%.

Thank you. Not so sure I’m attracted to or have a need for the 5.25% as I only occasionally have funds over £4,000 in my 6% Santander Edge (apologies for mentioning it haha) but was thinking of opening these to keep any overflow cash between funding my RS’s to avoid using any lower paying EA’s.

I have all other RS available to be me above 5.5% 👍🏼

Bridlington1

DRS1 said:

Bridlington1 said:

Anyone else unable to make deposits into Manchester BS's regular savers?

I was able to make my initial deposit last month but this month's has bounced.

They've since said a letter sent to my address was returned and that they shan't accept deposits into the account until they've verified a copy of my passport and proof of address, which I sent over a week ago and have heard nothing back since then.

Well my first payment made today bounced back (not that it has arrived back yet) because I sent it from an account which was not my nominated account.  You can only have one nominated account for all your Manchester Building Society accounts.  And when you change it you need to authorise it so it will be another week or so before I can make a payment   I don't really understand why payments IN have to come from a single account.  Very odd.

In my case though I sent all payments from the same nominated account. The first payment was accepted, the following ones made from the same account to the same payee bounced.

I submitted the code received in the post to authenticate my nominated account, the code was accepted.

I then got a secure message days later (after the payments had bounced) telling me that a letter they sent to my address had been returned, which seems odd as they'd sent the letter to the same address the code had been sent to and that had arrived without issues, and that they can't accept any payments into the account until they've verified my ID and my address.

They also said they'd send me a prepaid envelope in the post to send copies of these documents to if I wished but that I could also send them by email.

I'll see what they come up with.

Bridlington1

GetRichOrDieSaving said:

Bridlington1 said:

GetRichOrDieSaving said:

Manchester BS & Newcastle BS

I'm sure this has been discussed before and apologies for not wanting to scroll back through 785 pages, but can someone confirm the following:

- Can you hold both accounts (I assume yes)?
- Are you limited to £500/per month even if you have withdrawn some, i.e can you put it back in? (I assume no)?

You can hold both accounts, withdrawn funds can not be replaced.

Account can also be held alongside their regular saver issue 1, which remains available at 5.25%.

Thank you. Not so sure I’m attracted to or have a need for the 5.25% as I only occasionally have funds over £4,000 in my 6% Santander Edge (apologies for mentioning it haha) but was thinking of opening these to keep any overflow cash between funding my RS’s to avoid using any lower paying EA’s.

I have all other RS available to be me above 5.5% 👍🏼

I've sometimes funded the 5.25% version if I've had excess cash, same goes for quite a few of my lower rate regular savers I've got.

It's rare I have to keep money in EA accounts these days, I just have regular savers I actively fund and then a smaller collection of lower rate ones that act as a sort of ``dripping tray" for excess funds. 

YBS's Loyalty RS became another that took on this function last month (prior to its rate being cut recently).

Cweb

masonic said:

I think I'm going to risk it still being around at the end of the month. 

 Unless MSE floods the applications I wouldn't be overly concerned on missing out. Newcastle BS current interest rates states it launched on 7th July 25 (same day as branch opened) but we must have all been too busy discussing other business to have noticed this regular saver.