The Top Regular Savers Discussion Thread

cc123mm456

https://forums.moneysavingexpert.com/discussion/comment/81999485#Comment_81999485

Same day on working days, if requested by 4pm. See the FAQ: Do you offer a faster payment facility?

https://newcastle.co.uk/savings/manage-your-savings-account/savings-frequently-asked-questions

In my experience the payments arrive in around 1 to 2 hours

chris_the_bee

https://forums.moneysavingexpert.com/discussion/comment/81999060#Comment_81999060

Precisely the same experience for me. Pleased to see we received exactly the same compensation.

Nebulous2

https://forums.moneysavingexpert.com/discussion/comment/81999064#Comment_81999064

Further text this morning, saying your new regular saver is now open.

Quite impressed with that; matured, emptied, applied for a new one, opened and funded with the first £250 within 24 hours.

MarkFromCornwall

https://forums.moneysavingexpert.com/discussion/comment/81999328#Comment_81999328

Re. Saffron maturity, the maturity manager option usually appears a few days after the maturity email.

nottsphil

https://forums.moneysavingexpert.com/discussion/comment/81999125#Comment_81999125

It looks pretty clear to me 🤓

However, Mansfield's regular savers have traditionally allowed for two monthly subscriptions to be missed in an account year, which I suspect is what you recall.

allegro120

https://forums.moneysavingexpert.com/discussion/comment/81999854#Comment_81999854

Mansfield

They also allow payments exceeding the monthly limit. I've accidentally made 2x£250 into 5.10% Bonus RS in January. The extra £250 is still there, they didn't return it. I don't know if it's a glitch or they are not enforcing the limit. I didn't explore this avenue any further, but in theory the same could work for an extra £500 to Milestone🙂.

Dizzycap

https://forums.moneysavingexpert.com/discussion/comment/82000145#Comment_82000145

I'm wondering if the extra payment made was allowed because it's an ongoing RS with the interest rate dropping after 12 months, the same for the Milestone RS? Or the system didn't recongise your initial cheque payment so let an extra electronic payment slip through?

Having said that, an exceedingly small proportion of payment systems do fail to pick up on accidently overpaid monthly payments. HSBC is also another which allowed 2 accidental manual overpayments I made to their 6% RS last year because for whatever reason, the SO was late being paid from my HSBC current account; but I didn't want to push it any further - I was however, interested to see if the last 2 months SO's would credit the RS, and they both did making a total of £3,500 held and extra interest was paid on the extra overpaid £500 - Not that I'm advocating by any means, purposefully / accidently overpaying into any RS as some organisations return overpayments with stern email warnings i.e Co-Op, Natwest 😅.

allegro120

https://forums.moneysavingexpert.com/discussion/comment/82000324#Comment_82000324

Most likely the latter. First deposit was a cheque followed by electronic transfer. Looks like a loophole for doubling the allowance🙂.

mhoc

Just wondering now what would happen in this hypothetical situation - you closed your existing Milestone saver and opened a new one with the initial months £500 transferred across from the previous Milestone. If you accidentally also added £500 to the new one would the system pick this one - as its a different method of payment?

On a reflective note - things now have been so quiet for so long we are now pondering about making 13th payments as a means of entertainment :) I have refreshed all the accounts that needed refreshing, I made a list of the maturity months for every saver, updated the calendar with maturity dates and polished the Google charts until they gleam. Every spare penny is now sat in an easy access account in readiness for whatever the next new regular saver is but it seems to be a very very long time coming …

chris_the_bee

https://forums.moneysavingexpert.com/discussion/comment/82001171#Comment_82001171

The majority (if not all) of BS will not let you open a new RS (Milestone Saver) until the old one is closed, so I don't think your transfer idea will work. Also, Mansfield is one of the BS that allows a 13th payment, however, this is because there is no end date to this account, but note the interest rate drops to 3.25% after the first 12 months.