Monmouth Building Society is so slow

OrangeBlueGreen

Once the signature form is signed and returned, has anyone received anything to say it's OK to go ahead with a payment? How long did it take? 

nottsphil

ThePirates said:

I've opened and funded the RS but still can't get into the app to verify. It's been about a week now, get add far as the 2 factor page but there's no option to select...
Any one else got this issue?

It gave me the option of email or text, but choosing text meant I had to abandon the long winded application process and start all over again. A CS bod has just told me that texts for the third and final code needed aren't happening and to choose email instead.
EDIT: Turns out that the new account had already been secured at this point but I did not know because the app was frozen whilst waiting for the non-existent code. This code was only for the internet access, so didn't actually affect initial funding.

MyRealNameToo

BTB43 said:

Like millions of others I applied via my computer for their new regular saver a/c yesterday.

Well there's the problem then isnt it. Last year they state they had 71,000 customers so if they've now had millions of new customers their systems haven't coped with them increasing their size more than 1,000% with a year. 

Kim_13

The RS now appears to be available only via app, branch or agency, so Monmouthshire must have realised how much time the online route is taking for them to process and for their customers to wait. 

subjecttocontract

I applied for the Monmouth RS on Friday 25/7......today is 5/8 and I've only had an email telling me they received my application. They said it's taking up to 5 days to process but the 5 days has been and gone. So what ? I really don't care, they'll get around to it eventually and I'm in no particular rush.

allegro120

OrangeBlueGreen said:

Once the signature form is signed and returned, has anyone received anything to say it's OK to go ahead with a payment? How long did it take? 

I've posted it 8 days ago, didn't receive anything yet.  I've made £1 deposit today.  It will bounce back tomorrow if the account is not ready.  If deposit is accepted it should show tomorrow or Thursday.

Andystriker

I applied online for the account on 25th July. 

I got the letter detailing my account number and asking for my signature on 31st July. 

I sent the signature back to them in their 2nd class envelope on 1st August. 

I sent the £500 first deposit to them from my Nat West Account on Sunday 3rd August.  I also went online and added the regular Saver to my list also Sunday 3rd August. 

My new account is now showing online with the credit of £500 dated 3rd August. 

I have not had any reply yet from my sending them my signature, and I do not expect one for a while. 

I am happy with the service I have had from them.

BTB43

Given their inability to cope with the predictable large number of applications for the account, I'm wondering how well they'll cope with requests to close when the rate starts reducing.
Not having heard anything from them for over a week since applying online (but not through app) I assume my application won't ever get to the top of the pile anyway.

Kim_13

BTB43 said:

Given their inability to cope with the predictable large number of applications for the account, I'm wondering how well they'll cope with requests to close when the rate starts reducing.
Not having heard anything from them for over a week since applying online (but not through app) I assume my application won't ever get to the top of the pile anyway.

They won’t need to cope with requests to close, since withdrawals are possible and thus customers should be able to withdraw to a nominated account without their input. 

Not allowing withdrawals for the previous Exclusive issue probably cost them more in requests to close than it made them in money kept in at the lower rate.

Bobblehat

Andystriker said:

I applied online for the account on 25th July. 

I got the letter detailing my account number and asking for my signature on 31st July. 

I sent the signature back to them in their 2nd class envelope on 1st August. 

I sent the £500 first deposit to them from my Nat West Account on Sunday 3rd August.  I also went online and added the regular Saver to my list also Sunday 3rd August. 

My new account is now showing online with the credit of £500 dated 3rd August. 

I have not had any reply yet from my sending them my signature, and I do not expect one for a while. 

I am happy with the service I have had from them.

Can I ask, are you an existing customer? I am wondering if you are because CS told me that I wouldn't get my Customer ID or pay-in details until they send them by letter after they had received my signature form back. My timeline for the application and sig letter are identical to yours and I'm still waiting for the details mentioned to arrive. Good job I'm not in any hurry to make my 1st deposit!

Also, if you are an existing customer, do Mon require a wet signature for every online application?