The Top Regular Savers Discussion Thread

allegro120

https://forums.moneysavingexpert.com/discussion/comment/82038488#Comment_82038488

Furness

I've sent my funds from Cahoot (same protocol as Santander), went smooth as usual. I did it next day after opening. CoP can take time to get recognised, this is probably why the sort code and Furness account number with RBS was recognised but your reference number (which is your account number) was not.

alfred64

https://forums.moneysavingexpert.com/discussion/comment/82037915#Comment_82037915

I opened account this morning, so must have been a different branch. Yes, not actually swept off their feet but most of the locals won't know about it. Its not advertised in branch windows, only at counters, and not many are saver alert, scouring moneysaving expert and Moneyfacts.

Account is loss-maker for Tipton. All mortgages are less % than 7% In some cases considerably so. and the society has to protect itself. Hence the branch opening and postcode restriction. It's a small society, but has not forgotten the

'period where our service levels were severely disrupted by the actions of speculators, who open savings accounts in the hope of receiving windfall benefits'

snookerloopy96

https://forums.moneysavingexpert.com/discussion/comment/82038621#Comment_82038621

I seem to remember 'carpet bagging' was the term at the time and I'm going back 25 years if not longer.

Good little account though, I have a gap between April and July so at least this partially helps.

x44

I recall it was the CEO of the then Alliance and Leicester building society who appropiated the old phrase to use for those who opened accounts merely on the speculative basis that they might receive some windfall payment upon demutulatisation.

The origin of "Carpet Bagging" is as an american post civil war phrase referring to opportunastic and disruptive northerners moving into to the Southern states and exploiting the existing population for their own gain.

The_Groat_Counter

https://forums.moneysavingexpert.com/discussion/comment/82038716#Comment_82038716

Interesting snippet of history re the A&L Chief Exec popularising the phrase for the BS 'demutualisation rush' of the 90s, thanks.