The Top Regular Savers Discussion Thread

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.

Bob2000

I've been reading the last few posts about monmouthshire BS and the nominated account. I am worried now that there's is going to be some issue when the account matures. I intend to transfer the funds back to the account where all the funds have been sent from originally.

I just sent a test amount to my nominated account, (Even though online is says nominated account set up for transfers but in the app l had to manually enter the account details) so now waiting for it the show up.

jaypers

https://forums.moneysavingexpert.com/discussion/comment/82063733#Comment_82063733

Why worry? It’s your money and 100% legitimate. Transfer has to go through.

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82063737#Comment_82063737

No doubt the funds will move to the nominated account OK.

It's what actions the receiving bank decide to take, hopefully none at all.

snookerloopy96

Just an aside on the Monmouthshire withdrawal thing, a month or so back I withdrew funds from the app (the 6% saver).

Although we're not talking 12k, more like 1200, I had no issues.

Rarely do with Nationwide (fingers crossed).