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The Top Regular Savers Discussion Thread
Comments
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Principality
a) isn't all this talk advising 'how to' abuse their maturity process to end up with more than they permit (and otherwise tightly enforce) in their terms & conditions very much a "legal grey area" as defined in the forum's rules?
b) above notwithstanding, I don't see how any of this will work - they perform a check on the working day afternoon after the maturity process took place, and if they see the account was opened in violation of their terms then they close it
c) doesn't this additional enforcement prove further that this really is a behaviour Principality find unacceptable; my point being both that it'd be inadvisable from the perspective of trying to work with a generous player in this scene rather than against them (not biting the hand that feeds) and also further to point (a) really shouldn't be up for discussion here.
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I tend to fund £1,500 worth from there so as to qualify for the cashback, even if I use a cashback CC most of the time. Get the occasional prompt "do you trust this payee?" but the delay has never dragged on for more than a few minutes after clicking trust.
The references bother me more with Chase, in that they have disappeared once or twice. With High Street banks the fact you have to set up a new payee to change a reference means that they never go anywhere.
In an ideal world I would do accounts with no reference from Chase, but they don't equal £1,500. I can also do multiple accounts at the same institution from Nationwide.
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You can set up new payees with Chase too, each with a separate reference - just make sure your rename the saved payee before adding the next one otherwise it gets confusing. I wish Chase allowed you to set the nickname during the setup but other than this one gripe I agree their savings accounts are the perfect drip feeder hub I've found.
They even allow DDs straight from savings too!
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I do something similar to this with Halifax, but instead of aiming for a close match including the label I complete the COP check first then amend the payee name after. Presumably would also work with the other LBG banks.
So the process for me is set up payee as normal & check it passes COP, go back to the previous screen (payment details are retained), amend payee name to Firstname Surname Label, continue with payment as normal regardless of second COP outcome.
I notice the same behaviour where, with the label included, different banks will give different results to the check. Some will pass, some will close match, and others will be rejected - Doesn't matter with Halifax though as I've always found I'm able to continue with the payment no matter the result.
Moo…3 -
Not to mention that Principality staff could well be reading this so those attempting to get another duplicate account may well have shot themselves in the foot by posting it here.
Whilst I'm here, I'll ask any Principality BS staff reading this to send my regards to the very sweet sounding tabby one of your staff members told me all about when I phoned you a couple of years back.
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All I will say is that someone who is actively posting (and who is clearly sick of the Principality issues being discussed) has previously identified they work at Principality.
So Principality staff are reading this thread for sureIf you want me to definitely see your reply, please tag me @forumuser7 Thank you.
N.B. (Amended from Forum Rules): You must investigate, and check several times, before you make any decisions or take any action based on any information you glean from any of my content, as nothing I post is advice, rather it is personal opinion and is solely for discussion purposes. I research before my posts, and I never intend to share anything that is misleading, misinforming, or out of date, but don't rely on everything you read. Some of the information changes quickly, is my own opinion or may be incorrect. Verify anything you read before acting on it to protect yourself because you are responsible for any action you consequently make... DYOR, YMMV etc.5 -
Not RS related - but have you changed your profile name? Your profile photo looks identical to another user.
Apologies for taking this off thread.
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Point c) - yes. You have to tick a box to say that you agreed to the T&Cs. And the T&Cs clearly indicate that you are only allowed one of each issue. Just because their (not very strict) systems let you have an extra account, doesn't mean that you should.
Principality are well within their rights to close down extra accounts, and even bar you from having any account with them.
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They asked me to change it because previously it was my full name and surname. The pic is obviously the same :-)
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It's not a legal grey area, as there are no laws against it.
I consider myself to be a male feminist. Is that allowed?3
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