The Top Regular Savers Discussion Thread

mon3ysav3r

https://forums.moneysavingexpert.com/discussion/comment/82152518#Comment_82152518

Yes I have the same note I made to myself from a year ago, I needed to put first name space middle name [not last name] e.g. “John Joe” in the firstname field in NatWest online banking for the Melton COP to pass. Good job NatWest don't check for spaces in first names. EDIT - this might have been in their old platform, but I think it was the new platform.

dcs34

Vernon BS Regular Saver

In the notes for this account on Moneyfacts it says "Must have or open an Easy Access savings account".

Checking Vernon's site the postcode restriction is still in place, so not sure why Moneyfacts mention the easy access saving as if it were an alternative option. Not sure if this is an error or a forthcoming loosening of the T&Cs?

snaffle_2

My Melton Reg6 says it is now closed with the money moved out via a cash withdrawal. Is that their terminology for bank transfer out does anyone know??

Worrying as I can't see it landed anywhere else… And I have no note of setting any maturity instructions.

I was ecxpecting it to pop up in an easy access account.

wmb194

https://forums.moneysavingexpert.com/discussion/comment/82153267#Comment_82153267

Melton RS6 maturity

Don’t worry yet, I gave maturity instructions and mine also states, “cash withdrawal.” I requested the proceeds to be transferred to my nominated account.

Edit: I've now received an email stating that I've opened a new IA account and when I look at internet banking I can see my maturity proceeds are sitting in it… Now closed it and requested the money transferred to my nominated account.

The amount of interest credited on my RS 6 looks far too low - just £23.78 since the last interest in March. My estimate is that it should have been c.£134. It looks as if interest was only paid on the monthly contributions for six months (£200pm @ 6%) and not also on the existing balance at 31/03.

bubieyehyeh

Melton same for me new instant account and last six months interest far too low. I had sent form back requesting transfer to nominated account also, will see if they close the new instant account later this morning

surreysaver

I had an email about an hour ago from Melton saying welcome to your new account. So maybe the easy access will appear overnight?

I did send off the form requesting the funds be sent to my nominated account, but that form wasn't received until last Wednesday, so sent off first thing Thursday morning. So perhaps they haven't processed it?

Hattie627

Melton 2 year RS

My maturity figure is £5037.41 (the closing interest for 6 months to 30/09 is £47.57). Total amount lodged was £4800 (24 X £200)

MSE Regular Saver Calculator says that saving £200 per month for 2 years at 6% (interest rate has been constant at 6% since Sept 24) should result in £5103. I'm about £66 short of that.

Something not right in the interest calculation. Anyone else think so?

masonic

Melton RS6

Mine shows cash withdrawal after my attempt to close it yesterday.

The interest does look way off. Only £20.59 in my case from 1st April to 30th September, whereas I would have expected north of £110 on a balance averaging £3720 over 6 months (I didn't open mine until Jan 2025). It's too low even if they'd calculated it based on the instant saver rate. It is as if they've applied a rate of 1.1%.

Hattie627

Melton RS6

I returned the maturity form (with passbook) requesting closure at maturity and funds transferred to nominated bank account.

Account is showing today as "closed" with zero balance, and maturity proceeds (£5037.41) as cash withdrawal. Proceeds not in nominated account so far, maybe later.

Interest paid is too low.

surreysaver

Melton RS6

Perhaps this account will correct itself overnight, bearing in mind the maturity date is today? Hopefully!