The Top Regular Savers Discussion Thread

Bridlington1

https://forums.moneysavingexpert.com/discussion/comment/82097353#Comment_82097353

If 5.15% beats your easy access rates or is close to easy access rates then it's handy to have the account in case you need to use it. For me it'd purely be a speculative opening and forms part of my ``dripping tray" of RSs that pays more than EA accounts but isn't high enough for me to actively fund.

Plus there's an element of us not knowing how interest rates shall go over the coming year, Newcastle could raise the rate on their RS Issue 1, other RSs may cut their rates, who knows.

surreysaver

https://forums.moneysavingexpert.com/discussion/comment/82097616#Comment_82097616

That's what I do. 5.15% is slightly higher than my easy access rate, so any spare money goes into the 5.15%, and it's easy access with funds sent the same day if I need the funds.

Slinky

Monmouth

Just set up payments this morning for my new Monmouth account, obviously it's a long time since I set up standing orders last year and I don't remember if it happened then, but despite what Monmouth say on their instructions, COP check by Santander said I was paying a Personal, not a Business account. I triple checked the numbers and paid anyway.

Anyone else had this?

Bridlington1

https://forums.moneysavingexpert.com/discussion/comment/82097820#Comment_82097820

What did you use as the payee name? I've found these days for Monmouthshire etc the COP checks the payee reference so you should set the payee as personal, then use your name as the payee name.

It didn't used to be the case, but has been for the last year or so IIRC.

Slinky

https://forums.moneysavingexpert.com/discussion/comment/82097840#Comment_82097840

The instruction was to use MonBS Building Society as the payee name, which I did.

CricketLady

Re: Manchester 5.75% account 12 x £250

I just had this message from them after I sent my initial payment using the nine digit code (then messaged to ask if I should have used the seven digit code that appeared on my page shortly after) -

"I can advise that the initial reference you received was a temporary reference and we send this to allow customers to fund their accounts immediately if they wish to while their new account is in the process of being opened. Now that you have your permanent account number xxxxxxx, you can use this on your future payments, and if you ever need to contact our advisors by telephone you can give this number as your reference."

Hope this helps - pickledonionlover you will probably have a similar message! and Bestseagull I hope you got yours sorted okay xxx

Sending you all a cool drink

xxx

Bridlington1

https://forums.moneysavingexpert.com/discussion/comment/82097843#Comment_82097843

It must be an out of date document somewhere then, the general Ts&Cs state this:

{… Removed based on comment from forum team…}

FAQs state:

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flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82097843#Comment_82097843

Wouldn't surprise me that there may be conflicting advice elsewhere at MonBS but the FAQ about paying in says

Standing Orders and Electronic Transfer

To set up a standing order or make a single electronic payment to your savings account, it is essential to provide all of the following details to your bank:

Account Name: Your full name (the account holder)

Sort Code: [Removed by Forum Team]

Account Number: [Removed by Forum Team]

Reference: XXXXXXXXXX (Please make sure there are no spaces or hyphens - use the Monmouthshire Building Society account number you want to credit).

Slinky

It was the instructions that came up at the end of opening the account. I took a screen grab on my mobile phone. The new account details were above this section of the screen grab.

[Removed by Forum Team]

JamesRobinson48

@Bridlington1

Earl Shilton BS has launched an 'online only' RS paying 6.00% variable, 12 months term, max £500 per month. I think it's new today.

As far as I can see it's open to new and existing members. Early closure permitted; limited access to other withdrawals.

https://www.esbs.co.uk/monthly-saver-online/

There also seems to be a 'branch only' RS on equivalent terms. Not sure if you're allowed both.