The Top Regular Savers Discussion Thread

Essex123

Kim_13 said:

Born2Save_3 said:

LoughboroughBS 5 Year Retirement Saver

Letter from them, by email, on wrong payment of interest.

Loughborough cannot say that the error has not caused any financial detriment; the interest was paid on 31/3/25 and will count for 24/25. Depending on the saver’s tax position, they may owe more tax on the interest than had it been credited in 25/26 as expected. In extreme cases, the error may have caused the loss of £500 worth of nil rate band. 

Errors happen, but poor form to make such a statement.

Completely agree.  Cambridge Building Society did an additional capitalisation of interest in January on my account due to some system changes and I made the same point to them.

clairec666

Kim_13 said:

Born2Save_3 said:

LoughboroughBS 5 Year Retirement Saver

Letter from them, by email, on wrong payment of interest.

Loughborough cannot say that the error has not caused any financial detriment; the interest was paid on 31/3/25 and will count for 24/25. Depending on the saver’s tax position, they may owe more tax on the interest than had it been credited in 25/26 as expected. In extreme cases, the error may have caused the loss of £500 worth of nil rate band or someone’s Winter Fuel Payment.

Errors happen, but poor form to make such a statement.

Yes, they have over-simplified the problem somewhat. What they mean is "you won't miss out on any interest from us", which is not the same as "not causing any financial detriment".

exel1966

Born2Save_3 said:

LoughboroughBS 5 Year Retirement Saver

Letter from them, by email, on wrong payment of interest.

Does anyone have any news on Loughborough setting up an online portal, even just to view accounts ?

This was reported here in Aug/Sep by someone else and they confirmed it to me when I checked on my Sept interest payment. When I asked them about the additional credit of interest they admitted it was due to human error on setting up the interest date, but didn't seem to think it would impact the customer, hence no advisory! Clearly they have no appreciation of thinking further afield. I would assume customer pressure has now forced them to put this notification out, however I've not received it yet.
Those affected should be fully entitled to claim any losses back via the complaints route if they deem it necessary.

Bridlington1

Coventry BS Loyalty Mortgage Saver (2) at 4.8% appears to've disappeared from moneyfacts, suggesting it shall go NLA within hours.

PixelPound

Bridlington1 said:

clairec666 said:

flaneurs_lobster said:

Hal17 said:

Clairec666 add a Pending Receipt cell to your spreadsheet. 

...or colour the cell, I use grey until the deposit is confirmed.

Done. Nice to see my balance restored to yesterday's levels (plus interest).

I spend far too much of my time on my spreadsheet

I'm a bit lazier with my spreadsheet than you are it seems so don't have that issue, mine's updated less frequently than yours. I certainly don't go checking account balances as frequently as that.

I just have a tab with a list of all my accounts on it in the form of a table, all that's on this list is account, interest rate, date interest is paid and balance. This list gets copied/pasted and updated once every few months or so (whenever I get round to it). I don't bother to include the interest rates for a lot of the accounts either, the ones that are opened with a minimal balance at a low interest rate don't have the rates updated.

I've then got another tab with all my regular savers listed, a new list is created monthly with Bank/building society, Name, Interest rate, Paid from, Balance prior to deposit, Day of Month it can be paid, Matures, Interest paid, Withdrawals/early closure, Min deposit and Max deposit columns.

For the regular savers tab I just highlight them red if they're not getting funded and are getting closed this month, put them in orange if they're getting minimal/no funding but are to be kept and then green the regular savers off when I fund them. I never bother to check if the funds have arrived unless it's the first time I'm paying them, so far as I'm concerned as soon as it's green it's done.

I've then another tab which contains a list of interest earned to date (updated whenever I update the first tab) and another tab with a list of my nominated accounts (updated as and when).

Most of my other records (e.g. interest rate cuts, Ts&Cs for regular savers etc) are kept on this forum so I don't bother to keep a separate record of them.

You should use Conditional Formatting. I have the maturity date and the cell changes colour if it's less than 30 days into the future and again if if it's on or in the past. Means at a glance I can see which accounts I need to start considering what to do with the cash or replacement / renewal options and also when I need to act. 

Aidanmc

Hanley
COP didn't match the account using the application ref number as payment reference. Account opened yesterday.

flaneurs_lobster

Aidanmc said:

Hanley
COP didn't match the account using the application ref number as payment reference. Account opened yesterday.

Me too, ignored CoP warning and paid the min balance of £25 by FP yesterday (using RBS, some banks don't allow you to proceed past this point).

Showing on account this AM, followed it with remaining month's funding.

Kim_13

Gave opening Hanley on mobile device another go this morning (selecting the request desktop website option) and it gave me a completely different view when logging in as directed. Opened and funded. 2 withdrawals per tax year so it’s effectively 4 withdrawals over the term if timed right.

Guessing you just add the account number as a reference on the Direct Debit form, as I can’t see anything else that can be done. It will be useful to have a DD for the required £25 and then top up from there as funds allow.

Slinky

Hanley, my attempt to validate the application failed, currently number 2 in the queue on their phoneline, where I've been for about 15 minutes. If you're ahead of me, please hurry up!

Hattie627

flaneurs_lobster said:

Aidanmc said:

Hanley
COP didn't match the account using the application ref number as payment reference. Account opened yesterday.

Me too, ignored CoP warning and paid the min balance of £25 by FP yesterday (using RBS, some banks don't allow you to proceed past this point).

Showing on account this AM, followed it with remaining month's funding.

You presumably have access online to see the payment? If so, can you confirm that the account number is the same as the application reference?