Cheshire BS regular saver 8% Gross

Milarky

Given the way this account works - maturity date on anniversary and payments possible from the 1st of the following month - it is possible to make upto 13 times £500 payments in during the year. It makes relatively little difference to any interest received, however, since the final payment (on the 1st September 2006, say) cannot be in there for any longer than two (or possibly three) weeks at the most. Setting your standing order to the minimum £25 and topping up during the month may be the best option. A thirteenth payment may be necessary if the anniversary (and therefore maturity) falls after the 20th of the month

stevem01

Milarky wrote:

Setting your standing order to the minimum £25 and topping up during the month may be the best option.

I don't follow this logic.

I would have thought that the interest due at the end of the annual period would be based on the amount that was in the account on a daily basis. For argument sake say that each payment was made on the first day of each month for each of the first 11 months, but in the last month the monthly payment was withheld until just before the end of the month. I reckon the total interest payment that would be paid out under these circumstances would be lower than if the last payment had been made on the first day of the month.

Effectively the earlier that money is deposited into the account then the higher the average balance will be and consequently the interest paid on the deposted money will be greater. Therefore get the monthly deposits into the account as quickly as possible to maximise the interest.

vishpatel

Is there anyone else who applied on the phone sent in the forms) who has had their cheque cashed, but not received any details on their account yet??

ericpode

Assuming that most accounts will be "open" in mid September, what will be the date at which the final amount is swept into the easysaver (and hence the date when I should transfer it elsewhere).

Also how is this transfer best accomplished? I *think* that the easysaver is a passbook account and with no branch nearby it's not clear how I can arrange for the whole amount to be transferred to another bank account.

Kazza242

I was about to set up my standing order for my Cheshire regular saver, when it dawned on me that I don't know what the Cheshire sort code is. After hunting through all the info they've sent me, the only details I could find were:

Sort code: 20-53-77
Account No: *******

According to the leaflet, the customer's account number is to be quoted as the reference.

Does anyone know if the details above are correct?

I'm going to give them a call tomorrow anyway, just to make sure.

Thanks.

Speculator

Cheshire Sortcode is 20-53-77
Account No. 50244961
Quote your A/c No. as Ref No.

Kazza242

Speculator, many thanks for replying to my query, much appreciated.

Judi - I think you misunderstood the content of my post. There was really no need to edit it. The account number I added (which you edited out), was not my account number, but the generic account number of the Cheshire. It is printed on all of their literature and it is the account number that all Cheshire customers need to include when setting up their standing order. I would never enter my own personal account details on a public forum. That would be a bit silly.

But I forgive you