Regular Savings Accounts Article Discussion

ColdIron

If you have a calculator handy this should get you pretty close

Total amount * interest rate / 12 * 6.5

Ken68

Branch issue 3 is not available in my local store this am. They will let me know.
So signed up for Matchsaver instead which I thought was the most recent R.S.

stevec59

I've not heard of Matchsaver,what's the rate on that?

Frogletina

stevec59 wrote: »

I've not heard of Matchsaver,what's the rate on that?

It's 2.25%

Eco_Miser

stevec59 wrote: »

Hi, I'm sure it's here somewhere, how do I workout interest on regular saver, I'm looking at HSBC £250pm over 12 month=£3000 plus £81.58 interest, the rate is 5 % but as your not saving £3000 for 12 months it doesn't actually work out any where near that.

Many thanks

Monthly amount * 6.5 gives the average balance, so (monthly amount * 6.5 * AER interest rate) is the closest you'll get without taking into account the varying days in a month and precisely when in a month the account is funded.
The 6.5 (months) is the average length of time a subscription is in the account (12 months for the first, 1 month for the last)

chaotic_j

If I want to open two accounts - Matchday Saver Issue 1 and Regular Saver Issue 2 in store at Virgin Money, does anyone have an inkling how long it might take?

Trying to work out if I'd have time to travel from work.. to the store in a neighbouring town and then get back within my 1 hour lunch..

I've already opened the two online ones.. so I guess I'm an existing customer now? May expedite things a tad?

schiff

I don't think it will. I phoned to see if I could make an appointment and asked if the fact I had two store accounts and three online accounts made it advisable to bring ID. Yes, passport or driving licence. Seems excessive but they are the boss.

What can take time is them going through the lengthy spiel about the T&Cs and your money being protected etc. If you can persuade them to miss that out, which I doubt as it's probably a legal requirement, that may quicken it up.

Frogletina

schiff wrote: »

I don't think it will. I phoned to see if I could make an appointment and asked if the fact I had two store accounts and three online accounts made it advisable to bring ID. Yes, passport or driving licence. Seems excessive but they are the boss.

What can take time is them going through the lengthy spiel about the T&Cs and your money being protected etc. If you can persuade them to miss that out, which I doubt as it's probably a legal requirement, that may quicken it up.

I am an existing customer. While the adviser was dealing with the application on the computer, she gave me her ipad to read the terms and conditions, etc, which I did by the time she had finished

frogletina

Ken68

My interview on Friday took about half an hour, and the Terms and Conditions were printed off, and some discussion with a colleague as to whether Issue 3 was available YET.
Tea or coffee and a bikky supplied.

badger09

stevec59 wrote: »

I've not heard of Matchsaver,what's the rate on that?

http://forums.moneysavingexpert.com/showpost.php?p=72150045&postcount=401

Just a little further up this thread;)