Being nosey... How many Regular Saver accounts do you have?

Hal17

nomorekids said:

promise guys DH has no interest whatsoever in what I do unless its to complain if I have to ask him to make a phone call and even then note pad at the ready, I have to write down and show him what to say. I'll tot them up and report and maybe take the crown   

I can relate 100%. My DW is exactly the same. As others have posted, I just dread it if we have an issue with one of the RS I have opened in her name and I need her to speak with someone. 

She needs 24 hours to prepare herself, insists I write down everything they might ask her. Gives me that look which means I'm not getting any cake with my coffee today. Then having confirmed her name, address and DOB, tells them to speak to me! Happy days. 

s71hj

Hal17 said:

nomorekids said:

promise guys DH has no interest whatsoever in what I do unless its to complain if I have to ask him to make a phone call and even then note pad at the ready, I have to write down and show him what to say. I'll tot them up and report and maybe take the crown   

I can relate 100%. My DW is exactly the same. As others have posted, I just dread it if we have an issue with one of the RS I have opened in her name and I need her to speak with someone. 

She needs 24 hours to prepare herself, insists I write down everything they might ask her. Gives me that look which means I'm not getting any cake with my coffee today. Then having confirmed her name, address and DOB, tells them to speak to me! Happy days. 

I wonder if we need to set up a sub forum as a sort of support group for the other halves ;-) My wife has been feeling reassurance and some amusement as I relay some of these posts to her. 

Newly_retired

I am so glad that we started sharing the sorting of household bills long ago ( in a joint account), and have always managed my own savings. So many people leave it to their spouses and then are totally lost at a difficult time. I feel strongly and would campaign for everyone to take responsibility for sharing the managing of finances ( and other household tasks).

I wish I had one RS maturing each month but I just open new ones when they appear or when I have maturing funds. Most are fully funded but it is getting harder with 15.  

UKX69

fuzzzzy said:

I originally said I had around 10 regular savers. I have finally got around to counting them and find I have 13 in total, fully funded each month to the tune of £4475, minimum interest 5.5%.

I just applied to the Hanley BS today but will probably be letting that one pass as they are asking me to e-mail proof of ID, which I don't want to do. I usually get verified electronically without a problem as I have lived at my current address for a number of years so I am wondering what has prompted a request for ID this time. I did use a newer bank account that I just switched to in July as the nominated account instead of a much older one I usually use. I am wondering if I reapply at the end of the month with my other older account as nominated account I might just pass the electronic verification. Wondered how many people passed the electronic verification with Hanley. Was I just unlucky or are they demons for ID like the Progressive?

In answer to one of topyams original questions on criteria for opening I guess after high interest rate and high funding level my next main criteria is ease of opening.

Can’t speak of Hanley but I’m of the same opinion that if I have to supply extra ID via email on top of electronic verification, I wouldn’t bother with any application. As far as I’m concerned my credentials are top notch! 😏

Bobblehat

UKX69 said:

fuzzzzy said:

I originally said I had around 10 regular savers. I have finally got around to counting them and find I have 13 in total, fully funded each month to the tune of £4475, minimum interest 5.5%.

I just applied to the Hanley BS today but will probably be letting that one pass as they are asking me to e-mail proof of ID, which I don't want to do. I usually get verified electronically without a problem as I have lived at my current address for a number of years so I am wondering what has prompted a request for ID this time. I did use a newer bank account that I just switched to in July as the nominated account instead of a much older one I usually use. I am wondering if I reapply at the end of the month with my other older account as nominated account I might just pass the electronic verification. Wondered how many people passed the electronic verification with Hanley. Was I just unlucky or are they demons for ID like the Progressive?

In answer to one of topyams original questions on criteria for opening I guess after high interest rate and high funding level my next main criteria is ease of opening.

Can’t speak of Hanley but I’m of the same opinion that if I have to supply extra ID via email on top of electronic verification, I wouldn’t bother with any application. As far as I’m concerned my credentials are top notch! 😏

The strange thing is, as others above have mentioned, your Hanley account is already open and possibly already funded by the time you find out that they want extra ID checks! I know mine is funded, as the Debit Card payment left my CA today! I'll just have to wait and see if they require extra ID checks.

UKX69

Bobblehat said:

UKX69 said:

fuzzzzy said:

I originally said I had around 10 regular savers. I have finally got around to counting them and find I have 13 in total, fully funded each month to the tune of £4475, minimum interest 5.5%.

I just applied to the Hanley BS today but will probably be letting that one pass as they are asking me to e-mail proof of ID, which I don't want to do. I usually get verified electronically without a problem as I have lived at my current address for a number of years so I am wondering what has prompted a request for ID this time. I did use a newer bank account that I just switched to in July as the nominated account instead of a much older one I usually use. I am wondering if I reapply at the end of the month with my other older account as nominated account I might just pass the electronic verification. Wondered how many people passed the electronic verification with Hanley. Was I just unlucky or are they demons for ID like the Progressive?

In answer to one of topyams original questions on criteria for opening I guess after high interest rate and high funding level my next main criteria is ease of opening.

Can’t speak of Hanley but I’m of the same opinion that if I have to supply extra ID via email on top of electronic verification, I wouldn’t bother with any application. As far as I’m concerned my credentials are top notch! 😏

The strange thing is, as others above have mentioned, your Hanley account is already open and possibly already funded by the time you find out that they want extra ID checks! I know mine is funded, as the Debit Card payment left my CA today! I'll just have to wait and see if they require extra ID checks.

IIRC, I don’t think I’ve ever had a request to supply any further ID (Passport, Official letters etc), except bank statements to verify nominated accounts - by snail mail. 

20122013

Newly_retired said:

I wish I had one RS maturing each month but I just open new ones when they appear or when I have maturing funds. Most are fully funded but it is getting harder with 15.  

I am also opening new ones when the offer looks good, would be interested to find out why some people would take the time to plan, so have one mature a month? be easier to manage? 

Bobblehat

If you time it right, the maturing funds are used to fund the rest of your ongoing RS's each month.

luci

Can someone explain the attraction of RS’s? From my understanding, a 6.5% RS actually yields around 3.25% over the year. I’m clearly missing something obvious here, especially when I read that someone was funding theirs from an ISA account.

I practically lived on the MSE forums for years and kept myself well informed. Unfortunately, ill health has kept me away from the forums for the past few years, but I’m trying to get back into it.

Thanks.

s71hj

luci said:

Can someone explain the attraction of RS’s? From my understanding, a 6.5% RS actually yields around 3.25% over the year. I’m clearly missing something obvious here, especially when I read that someone was funding theirs from an ISA account.

I practically lived on the MSE forums for years and kept myself well informed. Unfortunately, ill health has kept me away from the forums for the past few years, but I’m trying to get back into it.

Thanks.

You earn 6.50% for all the money that is with an institution for the whole time it is with them. So you will eg earn one twelfth of 6.5% on £250 if it is only in the account for a month. No institution will pay interest on money that isn't actually with them