The Top Regular Savers Discussion Thread

gpman

Of course, it was back up only! No intention of trying to get 3 accounts at all. My bad. 😏

Kim_13

https://forums.moneysavingexpert.com/discussion/comment/82133959#Comment_82133959

The backup may turn out to be fortunate, if it gets to the point of anything postmarked after the date of withdrawal being refused.

I'm sure some applications have been sent backdated, but equally there will be others that were in the postbox while the account was still online and it is just that the post is slow in their area.

SFCooper

https://forums.moneysavingexpert.com/discussion/comment/82133744#Comment_82133744

incredibly rude

Pickledonionlover

Tipton

Just an update here.

My account has been open and funded for a few days now (opened on the eve) and today I received a letter to confirm this.

No further news on the postal branch version of which I sent the printed off form and cheque on Monday.

I didn't go anywhere near sending emails.

I'll be suitably disappointed if my postal branch version gets denied as it certainly wasn't clear at the time when I applied.

Let's see..

Much more importantly let's have some harmony on here and have a good weekend.

👍

Kim_13

No one was trying to get three Tipton accounts, since an application by email would, if accepted, open a branch/post version. The terms of which were explicit about only one, even if post/branch and app might be a grey area.

I think it’s fair to say that anyone who did try emailing wouldn’t also have sent it in the post if the account hadn’t been withdrawn before they’d heard back from them. Saving postage would have been the reason for emailing. If they waited to hear only to be refused, it would definitely be too late. If anyone heard back and was told email not acceptable then they were only complying with the terms by posting in the form they had already filled out.

Personally I only send digitally if it is allowed in the terms or a member of staff has given me permission to do so. Being someone who never wins when products are branch only, I don’t have a problem with paying for the occasional stamp.

Bridlington1

https://forums.moneysavingexpert.com/discussion/comment/82133895#Comment_82133895

The section of your comment I quoted came across at best a tad pedantic or at worst captious so I was responding to that part of the post specifically. It may not have been your intention, but that's how it could've come across. For the sake of civility I'm prepared to give you the benefit of the doubt on this occasion and make this my final word on the matter.

Rest assured, the matter of the Ts&Cs not being archived prior to the account going NLA shall be dealt with as similar matters have previously been dealt with.

alfred64

It seems apparent to me that Tipton offered either the app version or the branch version of the 6.5% account but not both to the same person. So people who tried it or succeeded should expect forthcoming disappointment.

Tipton have opted in to the Strong and Simple scheme for small domestic deposit takers (SDDT) and have stated that they intend to grow and open more branches. The Codsall branch opened last Nov has been a huge success -( perhaps the upmarket area of Codsall helped) It was their first new branch for 30 years.

Funding requirements by the Prudential Regulation Authority change. They increase. Although Tipton are already well ahead of the requirement.

It may be the trend of increases in the money market rates and the fact that other local societies (Dudley and West Brom) have attractive accounts that has prompted Tipton to offer such account so that it does not lose ground.

They asked me how I came to hear of this account, so I told them, MSE forum. They will be familiar with the goings on here.

gpman

https://forums.moneysavingexpert.com/discussion/comment/82134470#Comment_82134470

The exact section of my earlier post you re-posted was:

"To be fair, only the branch/postal version has been archived.

The app version is a word document copied & pasted and posted by another user."

and you thought that was:

"...at best a tad pedantic or at worst captious"

I really am struggling to understand that misunderstanding. It was a simple, factual statement. I see no malice in that even now.

i.e. the branch/postal version was a link to a saved facsimile of the Tipton website; the other was not but rather a link to a word document a third party had created.

To put this then into context, as I was questioning you at the time as to whether or not one could reasonably challenge that the Save & Grow Saver account could be considered two separate versions depending on how one opened them, can you not see how important it was to see just how Tipton had described them on it's website originally?

Moreover, as gt94sss2 had then responded, based upon my request in my post, with exactly how the account was named in the app (for an account applied for via the app) which I could see was different to how it was titled when compared to how it was displayed on the website for opening via branch/post, I had already conceded that there probably was a good chance of making a successful challenge that they are not the same account. (ETA: although based on the post by alfred64 I now see immediately above this post, that may be again being questioned). This all occurred before you created your post this morning.

Furthermore, I had also indicated the matter was probably irrelevant in any event, as the real underlying issue then appeared to me me to be not whether or not it was one and the same account, or two different accounts, but rather that it appears to be that Tipton would not accept an emailed application that some people also tried to submit.

Anyway, I'm pleased you will now be modifying your link to the archive of the version related to applying to the app to show the saved copy of the webpage image rather than just a word document someone produced.

For clarity, especially since so many people on this forum seem to misinterpret what I post (not just you), no criticism of the the word document itself nor the poster who created it was intended; it was certainly better than nothing (which before it was posted was all we had), but now that someone has since posted the images of the actual Tipton website, I hope you understand just how much more valuable that probably is.

kermchem

If you visit the website of Tipton and Coseley Building Society, then their Savings accounts are listed under various titles, including one of "Fixed Rate Savings". The current fixed rate accounts are a fixed rate bond until 31.08.2027, a fixed rate bond until 31.08.2027 (mobile app account) and a fixed rate bond until 29.02.2028, plus its mobile version and a pair of bonds until 31.08.2031. These are what might otherwise be called 12-month, 18-month and 5-year bonds. The terms and conditions for these do not exclude opening more than one bond, and I can see that plenty of people might want both a 12-month and 5-year bond. Not sure there is merit in the branch and the app version of the same bond, unless you want to save more than the FSCS limit with the society. None of the terms exclude opening multiple bonds.

When I applied for both the app and the branch/postal versions of the Save & Grow Regular Saver, these two accounts were listed in exactly the same format under a "Regular Saver" heading. There was nothing that excluded applying for both accounts.

Now, if Tipton decline to open my postal account when they get to my envelope in their mail room sometime next week, then I guess I can either point out their inconsistency, or roll over and do nothing. I for one will not seek financial compensation from a small mutual society owned by its members.

Meanwhile, Beverley BS, one branch, 22 staff (wikipedia), offered a £500/month, 5.5% variable account earlier this summer with terms that people disliked, and it lasted barely a day. Teachers with 39 staff at one branch fared barely better with their 6.00% offering; Ecology's 25 staff also offered 6.00% for more blink and you'll miss it fun; Tipton have 83 staff and actually have more branches than the outdated wikipedia table and offered 6.5%. Ok, if the Progressive rumours of 7.0% are true then I don't think I will be waiting for the maturity options on my Rainy Day RS issue 4 in October; I doubt this account will last a week.

These small building societies all seem to require some human input at their offices for opening an online account; staff numbers are limited and they do not want, or need, thousands of applications. By contrast I somehow doubt any human checked my application for a Bank of Scotland Monthly Saver at 8%, the larger organisation is probably more automated.

Speculator

https://forums.moneysavingexpert.com/discussion/comment/82133759#Comment_82133759

I called them this morning about the overpayment. First she reassured me that their procedure is to keep £200 and return the £100.

However, when she checked my account, she was surprised to see all £300 was returned via bacs on Friday!

It was from my nominated account so she couldn't understand why all £300 was returned.

She said the £300 should land in my account on Tuesday.