The Top Regular Savers Discussion Thread

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/81899797#Comment_81899797

.. although the options offered may well differ..

Slinky

I got a letter from them even though I'd closed the account early. I suppose given the number of people who opened an account on the first day it was available, they had a mass print run done in advance.

janusd

https://forums.moneysavingexpert.com/discussion/comment/81899668#Comment_81899668

they recently had a survey, outside of Pulse I think, that I replied to and I mentioned this issue and the waste of paper / postage costs this causes… but from what i've read previously in this thread (or the earlier ones) they've been doing this for years, so I wouldn't expect anything to change any time soon.

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/81900226#Comment_81900226

Extraordinary, the costs of mailing must be significant.

Was going to say "their problem" but of course they're a mutual...

spreadsheeterapple

https://forums.moneysavingexpert.com/discussion/comment/81899668#Comment_81899668

There are some letters that are (or were, and they're still doing it) a regulatory requirement, such as money leaving the building society account and closure. They had to send confirmation by a different method than used to do the withdrawal or closure instruction, so that a customer may be prompted to query it if it wasn't themselves.

So if withdrawal/closure was online, they send confirming letter to your postal address. The idea being that if your online access has been nobbled, the fraudster won't also have nobbled receipt of your royal mail letters.

-so basically, it's an anti-fraud measure, an alert. And an historical legacy from pre-internet regulations.

But it doesn't really explain why other building societies don't also still have to do it, or why fully-online firms don't. I assume they could send it by text, or email.

Dizzycap

Sorry if already mentioned. Co-op email regarding interest rate changes on savings accounts from 09/03.

RS No Change:

https://www.co-operativebank.co.uk/pdfs/bank/savings/bank-savings-rate-decrease-impacted-products.pdf

jameseonline

Just requested my Principality Issue 4 to be converted to an Issue 5 with £200 put in on 28th & £1000 + interest to Virgin as usual.

Are people still trying for multiple issues?, pretty sure they've stopped allowing people which is why I'm not bothering to try anymore.

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/81900708#Comment_81900708

Yep, no reports of successful multi same-issue openings. Some have tried, all rebuffed.

FishInGlass

https://forums.moneysavingexpert.com/discussion/comment/81900708#Comment_81900708

Not bothering here - a waste of my time and that of the Principality. My last issue 4 was opened on the 5th December last year.

Stargunner

https://forums.moneysavingexpert.com/discussion/comment/81900708#Comment_81900708

i have an issue 4 maturing on the 2nd March and I gave maturity instructions about 10 days ago to convert it to an issue 5. A couple of days after that I opened an issue 5. Not yet received a message declining the maturity and the issue 4 is still showing my maturity instructions.