The Top Regular Savers Discussion Thread

allegro120

Slinky said:

Ooops, I've got a bit messed up and made a manual payment to Principality of the full RS of £125, and a standing order is due to go to them tomorrow for the same amount. Will they just bounce one back without a problem, or have I committed a punishable sin?

I don't know specifically about Principality, but normally the overpayment is returned to your bank account within a day or two.

ChewyyBacca

I need to apply to new BS/banks for 9-10 new Regular Savers & Chase current account. These will trigger soft credit search. House completion & mortgage funds release are end of month and I presume they will do one last hard check on credit before releasing funds.

Will they see so many soft searches and be less amenable to a customer opening 11 new accounts in a few days just before completion?

Why am I opening so many?
I opened many savings accounts in last 2 years and I wasnt asked by any bank for documents except Al Rayan, not Tipton or West Brom or Leeds or others who bothered so many other customers for additional documents. I believe that is mostly related to the duration of stay at current address, longer the duration, lesser the likelihood to be asked for certified documentation.  After change of address, Im sure all these banks/BS will ask for certified copies of the documents, since update of electoral register will take a little time. 

Should I hold on opening my Reg Savers & risk not able to open for atleast a year (I dont want to pay for certified copies) or go ahead with opening all of them?

flaneurs_lobster

ChewyyBacca said:

Should I hold on opening my Reg Savers & risk not able to open for atleast a year (I dont want to pay for certified copies) or go ahead with opening all of them?

The point of soft searches (and the reason they are called "soft") is that they are not recorded on the credit details that other organisations see when they query your report. So your mortgage lender will not see these details (not that they would care that you've applied for a load of savings accounts).

Archerychick

happybagger said:

Slinky said:

Ooops, I've got a bit messed up and made a manual payment to Principality of the full RS of £125, and a standing order is due to go to them tomorrow for the same amount. Will they just bounce one back without a problem, or have I committed a punishable sin?

Your punishment will be to go and sort out Barclays IT

Product terms only state "You can't pay more than £125 in per month" but doesn't state what happens if an attempt is made to do so. I would suggest one will go through and the other will be returned to source.

The overpaid amount will be returned, and a letter will arrive in the post. I did it by mistake last month, think it came back same day 

Dizzycap

Slinky said:

Ooops, I've got a bit messed up and made a manual payment to Principality of the full RS of £125, and a standing order is due to go to them tomorrow for the same amount. Will they just bounce one back without a problem, or have I committed a punishable sin?

Can you not amend the standing order to go out next month? You usually can:-)

fergie_

I found out the hard way that debit card payments to Skipton show up the same day, but require 3 working days to be available, where as a bank transfer from Chase is available the same non-working day 

gt94sss2

Born2Save_3 said:

I'm waiting on £10k+ from GateHouse, that should have arrived on Friday and as of yet, has not.

I'm taking screen shots of GateHouse and my receiving bank.

Any suggestions on the best way to prepare for a compensation claim, in this case ?

This would be for loss of interest and for the inability to provide a service within an expected time frame, maybe more ?

subjecttocontract said:

I've already informed Gatehouse that I will be making a claim for compensation after my transfer is completed.

Apologies for taking the thread off-topic especially as it's less of an issue now as payments from Gatehouse Bank seemed to have started being credited.

However, I am in a similar position to the above and thus interested in how Gatehouse respond to these complaints. 

They are not Barclays and it appears that the payments will be made by the end of the next working day as allowed under the Payment Services Directive.

where_are_we

fergie_ said:

I found out the hard way that debit card payments to Skipton show up the same day, but require 3 working days to be available, where as a bank transfer from Chase is available the same non-working day 

We use the Skipton for 6 Halifax Reward debit card £500 payments every month. If you make the debit card payment in the morning that money is available in 2 days time and its in a savings account with a reasonable interest rate.

Make the payment at the beginning of the week so you are not caught out by the weekend being non working days.

Yes, not quick as Chase or Revolut.

Catplan

Slinky said:

Ooops, I've got a bit messed up and made a manual payment to Principality of the full RS of £125, and a standing order is due to go to them tomorrow for the same amount. Will they just bounce one back without a problem, or have I committed a punishable sin?

It will get returned and you’ll get a letter in posting telling you it been returned, I’ve done it before and that’s what happens.

friolento

gt94sss2 said:

Born2Save_3 said:

I'm waiting on £10k+ from GateHouse, that should have arrived on Friday and as of yet, has not.

I'm taking screen shots of GateHouse and my receiving bank.

Any suggestions on the best way to prepare for a compensation claim, in this case ?

This would be for loss of interest and for the inability to provide a service within an expected time frame, maybe more ?

subjecttocontract said:

I've already informed Gatehouse that I will be making a claim for compensation after my transfer is completed.

Apologies for taking the thread off-topic especially as it's less of an issue now as payments from Gatehouse Bank seemed to have started being credited.

However, I am in a similar position to the above and thus interested in how Gatehouse respond to these complaints. 

They are not Barclays and it appears that the payments will be made by the end of the next working day as allowed under the Payment Services Directive.

The payments were requested on Thursday, so should have been in the receiving account by close of Friday. They arrived today, clearly not in accordance with the PSD. However, apart from the angst whether the money would arrive in time for any SOs/DDs going out in the early hours of Monday, and apart from people not able to move their cash manually into better paying accounts yesterday/today, the actual loss of interest is minimal. I have calculated it's less than £5 for me, on a £12k withdrawal. You can argue that it's the principle but you can also argue that it's a bit petty to ask for compensation. Somebody convince me please why I should raise a complaint with Gatehouse.