Principality BS problem opening account

ScratchyCat

I tried to open the 7% Principality savings account which runs for 6 months, online a few months ago. It took me 3 or 4 attempts filling in there forms to open the account. I dont know if it was there system or because of my bad internet connection. Eventually I got an email telling me I had opened it with an account num. and that they would send me login details by post for the account in the next few working days. Nothing ever arrived. It said if I didnt use the login info within 30 days they would close the account. So having had so much trouble I never pursued this savings account and opened another savings account with someone else. Has anyone else had trouble with Principality Building Society.
I hadnt heard of them before so am a little wary. Is it worth me trying to open an account with Principality BS again.
I've got another savings policy about to mature but due to my personal circumstances I don't think I could risk putting away £400 a month this year incase i need the money.   Was looking at high interest accounts to put away approx £200 a month. 

ThePirates

I've got 7 accounts with them, many here have the same! 
Great rates on 6mth Regular Saver and their 12mth Xmas Saver.
I'd suggest you give them another try in the new year!

clairec666

I've never had any problems with them. They do tend to do a lot by post, and if your post is unreliable in your area as it is in mine, you might be waiting a while to get your login details.

Archerychick

I find them reliable and I do not remember having any issue with setting up my login, but it was a while back now. 

If you think you might need the funds then there are reg savers which allow you to close / and withdraw funds (some then hit you with a penalty on interest so watch out for those ones)

you can find a useful list on page 1 of this thread https://forums.moneysavingexpert.com/discussion/6576962/the-top-regular-savers-discussion-thread/p1

Malchester

I find them OK if abit clunky. I find it strange you cannot apply for a new account whilst logged in online. Instead you havd to begin applying outside their online system then are directed to sign in (even if already signed in) and complete the application. But very quick and smooth opening, and quite speedy deposits anc withdrawals

kimwp

ThePirates said:

I've got 7 accounts with them, many here have the same! 
Great rates on 6mth Regular Saver and their 12mth Xmas Saver.
I'd suggest you give them another try in the new year!

@ThePirates, is that 7 regular savers you have?

Bigwheels1111

I have collected with Principality, and still currently active.
1 X 1 Year Triple Access Regular Saver 
2 X Christmas 2026 Regular Saver
5 X 6 Month Regular Saver Issue 4.

Plus I will collect an issue 5 reg saver if it appears.

kimwp

Bigwheels1111 said:

I have collected with Principality, and still currently active.
1 X 1 Year Triple Access Regular Saver 
2 X Christmas 2026 Regular Saver
5 X 6 Month Regular Saver Issue 4.

Plus I will collect an issue 5 reg saver if it appears.

@bigwheels111, the terms say you can only have one of each issue of each regular saver, is there a loophole?

Bigwheels1111

kimwp said:

Bigwheels1111 said:

I have collected with Principality, and still currently active.
1 X 1 Year Triple Access Regular Saver 
2 X Christmas 2026 Regular Saver
5 X 6 Month Regular Saver Issue 4.

Plus I will collect an issue 5 reg saver if it appears.

@bigwheels111, the terms say you can only have one of each issue of each regular saver, is there a loophole?

Yes and No.
Some, not all of their savings plans allow you to open a new plan at maturity.
You get 4 options online.
I go option 2, just after midnight on day option becomes available. 14 days before maturity.
Re invest some of the funds into new savings.
The rest is paid out to my bank.
Others use option 4.

So it started with a £50 a month saver, then an issue 2 reg saver I think, then an issue 3 reg saver and so on.
When the £50 saver matured it gave me an option to open another issue 2.
So I did.
Then an issue 3 came along within the 14 period, so I got that.
So now I have 3 saving offers from them.
A Christmas saver appears, I get that, at maturity I opt for another issue 3 reg saver.
Lo and behold and issue 4 is launched, so I got that.


Principality have not been in forcing their T&C’S.
Until the last few weeks.
A lot of members on here have received secure messages, denied access to extra reg savers.
I was lucky, mine was accepted.

Hope this makes sense.

kimwp

Bigwheels1111 said:

kimwp said:

Bigwheels1111 said:

I have collected with Principality, and still currently active.
1 X 1 Year Triple Access Regular Saver 
2 X Christmas 2026 Regular Saver
5 X 6 Month Regular Saver Issue 4.

Plus I will collect an issue 5 reg saver if it appears.

@bigwheels111, the terms say you can only have one of each issue of each regular saver, is there a loophole?

Yes and No.
Some, not all of their savings plans allow you to open a new plan at maturity.
You get 4 options online.
I go option 2, just after midnight on day option becomes available. 14 days before maturity.
Re invest some of the funds into new savings.
The rest is paid out to my bank.
Others use option 4.

So it started with a £50 a month saver, then an issue 2 reg saver I think, then an issue 3 reg saver and so on.
When the £50 saver matured it gave me an option to open another issue 2.
So I did.
Then an issue 3 came along within the 14 period, so I got that.
So now I have 3 saving offers from them.
A Christmas saver appears, I get that, at maturity I opt for another issue 3 reg saver.
Lo and behold and issue 4 is launched, so I got that.


Principality have not been in forcing their T&C’S.
Until the last few weeks.
A lot of members on here have received secure messages, denied access to extra reg savers.
I was lucky, mine was accepted.

Hope this makes sense.

Ah ok! I've always selected the option to roll over to a new regular savings, but not then realised there could be a new regular saver issue available - nice! (Though it sounds like I've missed the boat). Thank you for explaining @BigWheels1111

ThePirates

kimwp said:

ThePirates said:

I've got 7 accounts with them, many here have the same! 
Great rates on 6mth Regular Saver and their 12mth Xmas Saver.
I'd suggest you give them another try in the new year!

@ThePirates, is that 7 regular savers you have?

Yes! 
5x 6mth and 2x Xmas