The Top Regular Savers Discussion Thread

Kim_13

happybagger said:

s71hj said:

Happened to be Market Harborough so popped in and opened the branch 5.8% RS. My current one matures Sunday. Am I correct I can't fund the new one until after the old one matures on Sunday? 

As I read it:
You can deposit £250 max p/m in one or both accounts - so if you've put in 250 in the maturing one, no you can't put any in the new.
If your balance in the maturing account is £3250 then you can't deposit in the new one until the old one matures.
If it's under £3250 you can, as long as the two together don't exceed £3250.

Equally I would be worried about the term requiring £10 per month, as the account has been opened in November. I'm not usually one for exploiting loopholes but I would fund this otherwise the one month you're allowed to miss has gone before the term has really started.

s71hj

Kim_13 said:

s71hj said:

flaneurs_lobster said:

s71hj said:

Happened to be Market Harborough so popped in and opened the branch 5.8% RS. My current one matures Sunday. Am I correct I can't fund the new one until after the old one matures on Sunday? 

You were in the branch, you opened the account, they didn't ask if you wanted to add funds and you didn't ask if you could?

I did and he said I could and I said I thought it might not be allowed and he said I was right and he seemed uncertain about that and various things. It was hard to hear him through the screen. We were pushed for time and just glad to get it opened, but only just in the time we had available. We won't be here again before Christmas and I know people on here would give a much more reliable answer. 

By the letter of their terms it would depend on if and by how much you had funded your current one this month? If you had funded the current one £250 you would have to wait until December, but if you had only funded £10 you could do £240. 

In reality you could probably do the full £250 now regardless, as the other will have matured by the time they would get around to asking which account you want the excess contribution to be removed from. 

Thanks. I may well chance it. Sounds like the consequences are at worst minimal and at best non existent . Ideally I'd have opened early December but won't be here again until close to the end of the month and it may get withdrawn as well before then 

s71hj

happybagger said:

s71hj said:

Happened to be Market Harborough so popped in and opened the branch 5.8% RS. My current one matures Sunday. Am I correct I can't fund the new one until after the old one matures on Sunday? 

As I read it:
You can deposit £250 max p/m in one or both accounts - so if you've put in 250 in the maturing one, no you can't put any in the new.
If your balance in the maturing account is £3250 then you can't deposit in the new one until the old one matures.
If it's under £3250 you can, as long as the two together don't exceed £3250.

Thank you. 

happybagger

s71hj said:

Thanks. I may well chance it. Sounds like the consequences are at worst minimal and at best non existent . Ideally I'd have opened early December but won't be here again until close to the end of the month and it may get withdrawn as well before then 

The consequences as you say appear minimal

We reserve the right to return funds to you where either the monthly, or overall deposit maximum is exceeded.

And in any case they will have already returned the excess, as a consequence of you closing the first account at maturity.

If I had done what you'd done, I'd be putting the full £250 in as a November deposit.

castle96

Anyone managed to open the new MARKET HARB 5.8% fixed RS (branch only) as an online jobby?

trickydicky14

allegro120 said:

s71hj said:

Happened to be Market Harborough so popped in and opened the branch 5.8% RS. My current one matures Sunday. Am I correct I can't fund the new one until after the old one matures on Sunday? 

MHBS
I have two of them, currently total balance is £5763.29, so the £250 limit wasn't enforced...
If I was in your position I would ignore t&c and fund it tomorrow morning.

Likewise, I also have two accounts with a total of £6767.50 one matures on Sunday.

s71hj

allegro120 said:

s71hj said:

Happened to be Market Harborough so popped in and opened the branch 5.8% RS. My current one matures Sunday. Am I correct I can't fund the new one until after the old one matures on Sunday? 

MHBS
I have two of them, currently total balance is £5763.29, so the £250 limit wasn't enforced...
If I was in your position I would ignore t&c and fund it tomorrow morning.

So if I pay in tonight or tomorrow morning when will it show as a credit with MHBS - I know there is somebody on here who keeps a handy per institution list of such things! 

PowerSavingMode

s71hj said:

allegro120 said:

s71hj said:

Happened to be Market Harborough so popped in and opened the branch 5.8% RS. My current one matures Sunday. Am I correct I can't fund the new one until after the old one matures on Sunday? 

MHBS
I have two of them, currently total balance is £5763.29, so the £250 limit wasn't enforced...
If I was in your position I would ignore t&c and fund it tomorrow morning.

So if I pay in tonight or tomorrow morning when will it show as a credit with MHBS - I know there is somebody on here who keeps a handy per institution list of such things! 

MHBS

"Automated payments (for example, payments via the internet or standing orders) received before 3pm will normally be available for withdrawal two hours after the payment has been received by us. Automated payments received after that time, or not on a Working Day, will be available to withdraw from 9am the next Working Day."

[SOURCE: MHBS General Savings Account Terms & Conditions]

Bridlington1

With regards to the Manchester BS Regular Saver Issue 1 at 5.5%, I just thought I'd mention my experience below in case anyone's interested in refreshing their account:

I requested this account be closed yesterday at around 8pm, the account was closed this morning and the funds arrived in my nominated account at some point today, I don't know precisely when they arrived as I was at work.

I have now been able to open a new account at around 5:30pm today, the account now shows in online banking, therefore it would seem their systems behave near identically to Newcastle BS with respect to refreshing accounts.

A warning did pop up when closing the account saying that if it is my only account, online banking would be disabled, so if refreshing the account I would be inclined to ensure you have another account with them before closing your account (in my case I've retained a rainy day saver with £1) to save having to set up online banking again.

35har1old

castle96 said:

Anyone managed to open the new MARKET HARB 5.8% fixed RS (branch only) as an online jobby?

Sent a secure message saying being disappointed that it was only branch based
Very prompt reply stating that they weren't a 
nationwide building society and the previously issue had been in high demand and they where now concentrating on the providing accounts for the local community