We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
The Top Regular Savers Discussion Thread
Comments
-
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.
0 -
Why worry? It’s your money and 100% legitimate. Transfer has to go through.
2 -
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.
1 -
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).
1 -
I closed a MonBS and moved £6k (+ interest) to RBS with no issues last week.
2 -
Maybe worried was the wrong word more concerned. Like others have said this will be a lot more cash than the average RS maturity total(for me anyway). With the funds already earmarked for other stuff l dont really what to be faffing about with phone calls.
Hopefully everything will be fine.
1 -
So this implies you can make one withdrawal?
0 -
By my reading it implies only if you do it in January - any other month and you would lose the bonus. Better than nothing and people are usually short of cash in January I guess. But reading it again, if you withdrew in January 2027 and were eligible for the bonus at the end of the following year that would be December 2028, so no allowances compared to what the terms were believed to be while the account was on sale.
But it’s a long time you’re potentially earning 1% for following a withdrawal before you find out for certain - though a complaint would be justified if you had it in writing that a January withdrawal could be made without loss of bonus for that year.
0 -
Have opened it, but haven't funded yet. The ability to withdraw isn't clear, and that's the deal breaker for me.
0 -
Yes. I think it's so you're given access to the interest in this tax year and therefore have to declare it. But the withdrawal can only be made next January, I assume.
0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 355K Banking & Borrowing
- 254.6K Reduce Debt & Boost Income
- 455.7K Spending & Discounts
- 247.8K Work, Benefits & Business
- 604.9K Mortgages, Homes & Bills
- 178.7K Life & Family
- 262.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards