The Top Regular Savers Discussion Thread

janusd

Dizzycap said:

Just

Just logged into Principality and find a routine maintenance with regards to updating my account. I'm wondering if Principality BS are closing the loophole for future maturity instructions for the same RS / Bond Issue being available as a maturity option? Interesting, because I've never seen Principality undertake this type of maintenance.

I had an issue 3 6 month RS mature today which was converted into another issue 4. However, I also noticed late last night that I had a missed call from Principality BS on Thursday morning, but my maturity instructions were still actioned, this time. I might not be so fortunate with a couple of PBS RS maturing in January......

It will be interesting to see if anyone else experiences issues with future maturity instructions not being actioned due to already holding a certain RS / Saving issue number. We can but hope for everyone's sake...... 

i've seen that routine maintenance box before, with their same standard wording - so at this point, I wouldn't read too much into it.

my latest maturity occurred on Friday morning - my last Issue 3 to a second Winter RS - it went through without issue - though I submitted the maturity instructions early and had already received written confirmation.

my next maturity is the 22nd, so I guess I can submit instructions from Monday - I was planning on getting a fourth Issue 4, but will ponder on it over the weekend... will let you know if/when the instructions are rejected. 

cricidmuslibale

I suspect that one of the reasons why PBS has quite recently become much keener on preventing its savviest savers from opening too many 6 month Regular Saver issue 4s (or, for that matter, too many Xmas 2026 RSs) each is because they are very aware that interest rates generally are predicted to fall significantly albeit gradually over the next several months at the very least, and their mortgage holders will thus naturally expect the interest rates on their mortgages to drop gradually but also significantly as well.

Therefore, in order to make sure their overall profit margin does not become too tight, PBS (and other similar savings & mortgage providers) will be a lot more careful not to allow too many fixed rate, high interest savings accounts - in PBS’s case the 6 mth RS4 and the Xmas 2026 RS - to be opened altogether than they would be if interest rates were static or predicted to rise significantly. Strictly enforcing the Ts and Cs and, as much as they possibly can, limiting these very attractive savings accounts to one per person per issue is of course a very good way of doing this, unfortunately (for the likes of us, not them obviously)!

P.S. Assuming PBS would ideally prefer the limited number of 6 mth RS issue 4s and Xmas 2026 RSs that it is willing to sell in total to be shared by as many of its savers as possible, and not just its most ardent & eager savers (i.e. folks like us on the MSE forum), then clearly this is another reason why it would ideally not want its most ‘dedicated’ savers to acquire more than their fair share of these two RSs individually and collectively!

clairec666

janusd said:

Dizzycap said:

Just

Just logged into Principality and find a routine maintenance with regards to updating my account. I'm wondering if Principality BS are closing the loophole for future maturity instructions for the same RS / Bond Issue being available as a maturity option? Interesting, because I've never seen Principality undertake this type of maintenance.

I had an issue 3 6 month RS mature today which was converted into another issue 4. However, I also noticed late last night that I had a missed call from Principality BS on Thursday morning, but my maturity instructions were still actioned, this time. I might not be so fortunate with a couple of PBS RS maturing in January......

It will be interesting to see if anyone else experiences issues with future maturity instructions not being actioned due to already holding a certain RS / Saving issue number. We can but hope for everyone's sake...... 

i've seen that routine maintenance box before, with their same standard wording - so as this point, I wouldn't read too much into it.

my latest maturity occurred on Friday morning - my last Issue 3 to a second Winter RS - it went through without issue - though I submitted the maturity instructions early and had already received written confirmation.

my next maturity is the 22nd, so I guess I can submit instructions from Monday - I was planning on getting a fourth Issue 4, but will ponder on it over the weekend... will let you know if/when the instructions are rejected. 

Logged in this morning and I can see the "Faster Payments" warning, but not the "Routine Maintenance" one

Dizzycap

Co-op Regular Saver:

My RS matured on Thursday. When I try to apply for a new RS the (new) access code (idea) isn't being sent to my mobile be able to confirm my application. I've even placed the incoming text number into my phone book so there's no possibility of it being blocked, but nothing! Is / has anyone else had an issue with this? What a palava to be able to open an account with the Co-op 

I'm hoping this isn't going to result in a phone call to resolve but based on my fiasco with the Co-Op last year with a RS which took nearly 2 months to resolve before I could open another, I won't hold my breath 

Kim_13

Cambridge BS RS renewed today, also with the 32p glitch someone mentioned a while ago. It does tally with the interest added, they just sent 32p less than expected to my nominated account. Hopefully that’ll land early enough for me to be able to move some of it to RS on the weekend deposit list today.

mhoc

I put the maturity instructions in very late on the 4th for OHs two Principalities that were maturing on the 5th.  Yesterday morning in the current account I could see the full amount for the Principality I had maturing plus OHs two accounts which had £150 less so I sighed deeply!
Later that day a message in the inbox which I've not looked at yet, not logged in but the two £150 amounts also arrived back ion the current account.
OH well at least we tried 

s71hj

Well Principality worked for me and my wife and the FP landed with Santander this morning in spite of the faster payments issue referred to on their website. I did my usual with maturity options, put them in practically as early as I could once available but on a Sunday afternoon. 

s71hj

I've never played the whole renewal game before, but given the likely BOE interest rate trajectory I'm wondering if now might be a good time to do a whole batch. I have most decent RSs available on here, what would the view be of the best ones to do from the more seasoned renewers out there? 

Hattie627

Principality

I had my last 6 month Issue 3 maturing yesterday (5th). Successfully rolled over with £200 to an Issue 4, balance (including interest) arrived yesterday in my current account.
FWIW, instructions were entered online just after midnight (around 12.05am) on the day the maturity options appeared online  (Friday 21st November).

WillPS

s71hj said:

I've never played the whole renewal game before, but given the likely BOE interest rate trajectory I'm wondering if now might be a good time to do a whole batch. I have most decent RSs available on here, what would the view be of the best ones to do from the more seasoned renewers out there? 

Guess Who time
Flick down the faces where early closure is not possible or would involve hefty loss of interest (Progressive, First Direct, MHBS etc)
Flick down the faces where the product in question is NLA, and so cannot be renewed (MonBS Exclusive savers in particular)
Flick down the faces where the product is your only/last account with a certain BS and early closure would affect future loyalty accounts
Flick down the accounts with no set term since there is no advantage to renewing (Natwest, RBS, MeltonBS RS 5)
Optionally - flick down the faces where the product is potentially renewable but to do so involves a faraway branch visit or a postal instruction

In front of you are your renewable options.

LBG regular savers are great candidates because they are very easy to do entirely online (although you do need to do a web chat for Halifax and wait til next day) and they are fixed for 12 months.