The Top Regular Savers Discussion Thread

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82063429#Comment_82063429

Not sure what you are fretting about, either the cash is earning 8% or it's going to get moved out to somewhere where you can arrange for it to be earning 4.5% with little effort.

Not exactly known for their speed of closing accounts, yer Santander.

Is the problem that you are keen to get the first £200 into the 8% saver?

BRO1959

https://forums.moneysavingexpert.com/discussion/comment/82063440#Comment_82063440

Not fretting, but possibly a little impatient! I've just found the letter re maturity in the banking app, dated 21st June, so before the 8% offer.

It says that funds are moved to current account 3 days after maturity, and a new Regular Saver starts. It does say that it pays 5%, but I think I will get 8%, as that's what it says on the account.

Standing order shows as not going out again until next month, so I don't know whether it will automatically be funded this month, whether I can pay in manually, or if I'll have to wait until the following month.

I'll try to work out what happened when the last one matured.

I'll possibly get the 8% on the existing balance for 3 days!

Section62

https://forums.moneysavingexpert.com/discussion/comment/82063444#Comment_82063444

I'll possibly get the 8% on the existing balance for 3 days!

Maybe, but the interest rate displayed by Santander can be a bit quirky… as an example showing 0% if you go over the £4k limit on the Edge Saver.

So it is possible you'll get the 8%, but don't go out on a spending spree until the interest has been paid. 😉

Bigwheels1111

https://forums.moneysavingexpert.com/discussion/comment/82063316#Comment_82063316

I've just called them, they took my bank details and ran a cop check, all is good now.

Set up and ready to go.

gt94sss2

https://forums.moneysavingexpert.com/discussion/comment/82063349#Comment_82063349

Personally, I would not bother with multiple withdrawals from Monmouthshire even if the sum involved is larger than a normal RS maturity.

Apart from the admin impact for the BS, the receiving bank will know the source of the incoming payment so I would not expect payments to be blocked

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82063600#Comment_82063600

I would have expected a major clearing bank (RBS/NatWest) to have heard of a 120 y.o. building society (Bucks).

MonBS is thirty years older, maybe someone's had time to update the block list.

clairec666

https://forums.moneysavingexpert.com/discussion/comment/82063600#Comment_82063600

Normally I'd agree, but since Natwest messed up a lot of people's Buckinghamshire deposits, I wouldn't be too sure.

Kim_13

I plan to do Monmouthshire in three tranches according to the onward destination of the funds and where the payees are saved. Seems certain to get blocked if I put £12.5K through an account I barely use and then immediately start divvying it up in chunks of thousands.

Joseph1215

https://forums.moneysavingexpert.com/discussion/comment/82062337#Comment_82062337

I sent £10 to Beverley on 7th, £490 on 8th - current balance is now reading £500. This morning (9th) they sent a wecome message, including:

"This account needs a monthly deposit making into the account between £10-£500 every month. Deposits need to be received into the account before the end of each month (please try to send your deposit before the 25th of each month to ensure this is processed in the correct month)"

And: "In January you will be able to make a withdrawal and still be eligible for the bonus at the end of the following year."

Still not sure how to interpret the number of deposits per month, but normally you'd assume you could make several. Deposit could just mean an amount of money.

I'll let you know if they send anything back.

kermchem

I have just made first deposits into Dudley Loyalty RS and Beverley RS Issue 2. It is not unusual that BS use major banks to clear their deposits.

Oh, the irony. Lloyds reports that the sort code for Dudley BS belongs to a bank called Dudley BS. Meanwhile the sort code for Beverley belongs to NatWest. So, NatWest have heard about building societies.