The Top Regular Savers Discussion Thread

alfred64 · 14 February at 8:19PM

https://forums.moneysavingexpert.com/discussion/comment/81884889#Comment_81884889

Hope you don't come back to find a "How Many Principality Regular Savers of the Same Issue Do You Have" thread.

Bobblehat · 14 February at 8:25PM

https://forums.moneysavingexpert.com/discussion/comment/81885023#Comment_81885023

I'm up for it!😁

Malchester · 14 February at 8:51PM

If it hadn't been for this forum Principality may never have realised the issue about people having numerous accounts of each issue and wouldn't be, maybe, clamping down.

UKX69 · 14 February at 9:02PM

https://forums.moneysavingexpert.com/discussion/comment/81884953#Comment_81884953

So far, I haven’t had this problem with other sites. I think it’s a gremlin living in the Hanley! Seem to remember some other problems with them in the past. 🤔

dcs34 · 14 February at 9:14PM

https://forums.moneysavingexpert.com/discussion/comment/81885061#Comment_81885061

But if it hadn't been for this forum how many people would have known that renewing maturing account into already-held issues was even an option…chicken v egg…

I would like to think that Principality are capable of running real time reporting on what accounts are held by their customers. A few basic queries would have allowed them to realise that many customers held multiple copies of accounts that were supposedly limited to one per customer.

At the end of the day it wouldn't take Principality much effort to prevent customers renewing accounts of already-held issues. They did nothing about it for years, until only recently starting to 'clamp down' after the maturity instructions were already given. So obviously they decided the issue wasn't severe enough to be dealt with or even fixed properly.

Banks and Building Societies are more than willing to lean against the boundaries of their T&Cs when it comes to things in their favour (e.g. HEBS and retrospective notice for interest rate reductions). They are large organisations looking after £ms of public money, employing handsomely remunerated executive teams to run them. If their IT systems can't enforce their T&Cs I would deem that their problem, not mine, to fix.

And of course I'm sure anyone currently perched on a tall equestrian would never have benefited from this, or other 'loopholes' before (Virgin Money regular saver double interest, multiple Halifax Reward accounts, referring online strangers as 'friends' and 'family')…