Regular Saver Thread **New and Restarted**

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  • Speculator
    Speculator Posts: 2,225 Forumite
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    Steve_xx wrote: »
    I've posted it. They'll come back to you if there's something missing, I'm sure.

    The Saffron BS maturity form I did last week was nice and simple. Reinvested £200 into a new reg and withrdaw rest by bank transfer.

    This Chorley one is the complete opposite.
  • patientperson
    patientperson Posts: 481 Forumite
    First Post
    Speculator wrote: »
    Got the letter too.

    Looks like they need proof of ID to open one, even for existing customers. (Although it didn't ask for ID in the Letter)

    The Maturity form is very badly written out. I will have to send a covering letter I think. There is no option to reinvest £350 into the Santa Saver and withdraw remaining balance by cheque.

    https://imgur.com/a/mCMdu7G

    Yes I agree the maturity form is confusing .. I was told that it covers many if not all other types of accounts.

    I was early enough to phone them this morning for some clarification.

    This new RS is only for new money so a transfer of funds from any other account is not permitted.

    With that knowledge I just sent it off with a cheque payable to myself and a request for the full maturing balance to be paid by cheque. Free faster payment are not available and Chaps will cost about £25.

    More ID was not sent and not even a point that arose when I spoke to them.

    Hope this helps a little.
  • mhoc
    mhoc Posts: 19,262 Forumite
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    patientperson wrote: »
    Details of this account sent with maturity instructions relating to my Member Festive Fund account.

    Limited Issue. Existing members only of 12 months or more.

    Rate 2.50% - maximum pm £350 - maturity 31/10/2019.

    Nothing on their website this morning

    The worrying thing is that its a limited issue which can be withdrawn at any time. So on November 1st when they are going through the applications to open the new monthly saver how are they going to go through them - in any sort of order - first forms to have arrived? Last to arrive? Alphabetical order?
    What happens if on November 1st they reach the required numbers half way through the day, the issue is fully subscribed and they have to start rejecting applications ...
    “Create all the happiness you are able to create; remove all the misery you are able to remove. Every day will allow you, --will invite you to add something to the pleasure of others, --or to diminish something of their pains.”
  • Speculator
    Speculator Posts: 2,225 Forumite
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    edited 13 October 2018 at 6:38PM
    patientperson wrote: »
    Yes I agree the maturity form is confusing .. I was told that it covers many if not all other types of accounts.

    I was early enough to phone them this morning for some clarification.

    This new RS is only for new money so a transfer of funds from any other account is not permitted.

    With that knowledge I just sent it off with a cheque payable to myself and a request for the full maturing balance to be paid by cheque. Free faster payment are not available and Chaps will cost about £25.

    More ID was not sent and not even a point that arose when I spoke to them.

    Hope this helps a little.

    Thanks.

    Thats what had me confused. T&Cs said no new money but maturity form did not give the option to invest by cheque, only by reinvesting maturity money.

    To be honest, not too worried about missing this. It's only 2.5%. Lucky I filled out the form using a Pilot Frixion pen. :)
  • veryintrigued
    veryintrigued Posts: 3,843 Forumite
    First Anniversary Name Dropper First Post
    patientperson wrote: »
    Yes I agree the maturity form is confusing .. I was told that it covers many if not all other types of accounts.

    I was early enough to phone them this morning for some clarification.

    This new RS is only for new money so a transfer of funds from any other account is not permitted.

    With that knowledge I just sent it off with a cheque payable to myself and a request for the full maturing balance to be paid by cheque. Free faster payment are not available and Chaps will cost about £25.

    More ID was not sent and not even a point that arose when I spoke to them.

    Hope this helps a little.

    Thanks for this.

    I've already posted it back on the assumption they could transfer the opening balance of the new account from the closing balance of the old account.

    I bet am not alone.

    Fingers crossed that they can do some jiggery pockery as I also enclosed a Chorlean share account passbook for them to update. Youd think a transfer would be preferable to them too rather than messing around with cheques.

    We'll see.
  • mhoc
    mhoc Posts: 19,262 Forumite
    First Post Combo Breaker First Anniversary
    Speculator wrote: »
    Thanks.

    Thats what had me confused. T&Cs said no new money but maturity form did not give the option to invest by cheque, only by reinvesting maturity money.

    To be honest, not too worried about missing this. It's only 2.5%. Lucky I filled out the form using a Pilot Frixion pen. :)

    £38.92 is all the interest I got from Homesdale after a year at £250 per month - final balance cheque arrived this month.
    It will be going to pay the builder who is finishing the windows tomorrow and the flat roof chaps (if they ever arrive) so I suppose its adding value to the house so at least that's something productive ...
    “Create all the happiness you are able to create; remove all the misery you are able to remove. Every day will allow you, --will invite you to add something to the pleasure of others, --or to diminish something of their pains.”
  • Special_Saver2
    Special_Saver2 Posts: 1,405 Forumite
    Name Dropper First Anniversary First Post
    Hi Everybody,


    Here is this weekend's update.

    - Chorley BS Loyalty Santa Saver (Issue 1) added to post 3


    The Leeds BS Regular Saver (Issue 20) account is deliberately not on the list on the first page of this thread because it is not good enough to be included using the criteria in post 1.

    I will do another update next weekend.

    SS2
    For those new to this thread, the first few posts are constantly updated and are on the first page
  • arsenalboy
    arsenalboy Posts: 448 Forumite
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    Have just rang Chorley, they said I am not the first this morning! They informed me they should have sent out an application form for the new Santa Saver and that the maturity form is not appropriate but gave me instructions on what to do.

    At 3 on the form tick box, cross out re on "reinvest" to make it invest, cross out rest of line and write Loyalty Santa Saver in box.


    Go down to Full Withdrawal and Closure (a), tick box and fill in details.


    Enclose cheque for £350, they will not do transfer from maturing funds.


    Hope this helps!
  • Steve_xx
    Steve_xx Posts: 6,976 Forumite
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    arsenalboy wrote: »
    Have just rang Chorley, they said I am not the first this morning! They informed me they should have sent out an application form for the new Santa Saver and that the maturity form is not appropriate but gave me instructions on what to do.

    At 3 on the form tick box, cross out re on "reinvest" to make it invest, cross out rest of line and write Loyalty Santa Saver in box.


    Go down to Full Withdrawal and Closure (a), tick box and fill in details.

    Enclose cheque for £350, they will not do transfer from maturing funds.


    Hope this helps!


    Looks like I'll be receiving another letter from them then, as I've already returned the dogs dinner of an application that arrived on Saturday.
  • karlie88
    karlie88 Posts: 9,114 Forumite
    First Anniversary Name Dropper First Post
    Special_Saver2 wrote: »
    The Leeds BS Regular Saver (Issue 20) account is deliberately not on the list on the first page of this thread because it is not good enough to be included using the criteria in post 1.

    Could I politely suggest that we reconsider adding Leeds BS's Reg Saver to the opening post? :o

    I appreciate that it doesn't meet the requirement but I know for a fact that there are lots of us on here who have Issue 17, 18, 19 or 20 - all paying 2.3%.

    It allows one penalty free withdrawal, has a decent rate of 2.3% that's unlikely to go down for the time being, can be opened painlessly online, maturity instructions can be confirmed online with free bank transfer as an added bonus (rather than cheque), online banking/access etc.

    I personally think it beats a lot of the other regular savers (that are mentioned in the opening post) which pay less interest, have opening restrictions, allow branch/postal applications only, etc.

    Just my opinion of course and it is your thread SS2 - feel free to ignore. It would be a shame for a newbie or for someone who doesn't frequent the savings board to miss out.

    :)
    :grouphug: :D Official MSE canny forumite and HUKD VIP badge member :D :grouphug:
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