Regular Saver Thread **New and Restarted**
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Nationwide have today relaunched their Regular Saver. It is now called Flex Regular Online Saver.
The only changes I can see from the Flexclusive RS 2 are that the account can only be operated online and deposits and withdrawals can only be by electronic payment. Withdrawals can now be made to a nominated external current account.
They have also changed the condition that you can only be the first named account holder on one RS to you can only hold one of these accounts.
https://www.nationwide.co.uk/products/savings/flex-regular-online-saver/features-and-benefitsDid you really mean to put loose?
Lose: no longer possess, not to retain, unable to find
Loose: not firmly or tightly fixed in place0 -
Has anyone had problems with Virgin Money opening Regular Saver accounts in store? When I opened my issue 8 the system wouldn't accept an electronic check and required documents instead. Some backwards and forwards on the phone has resolved this by taking a recent utility bill to the store.
I'm trying to work out if I've been given duff information, or if the regulations really are this strict.
For those making appointments to open the issue 9 it might be a good idea to take all your documentation along just in case.
I have opened all regular savers in branch and they greeted me by name when I went in yesterday, but I was advised that their new system requires two documents (one from the A list and one from the B list) each time an account is opened.
I'd only been in the day before and given them one of the documents to close my last regular saver
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This seems a bit daft. If you've already proved your identity with a 'list A' document when you started your banking relationship with them then why would the regulations require the customer to do that again with every new account opened?
Yes it does seem daft but it's no problem to take your passport and plastic driving licence when you go. The DL is sufficient without a utility bill.
Assuming you have them of course and in date
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Has anyone had problems with Virgin Money opening Regular Saver accounts in store? When I opened my issue 8 the system wouldn't accept an electronic check and required documents instead. Some backwards and forwards on the phone has resolved this by taking a recent utility bill to the store.
Now the customer services team on the phone have said that due to money laundering regulations they now require both a 'list A' and a 'list B' document every time a new account is opened.
This seems a bit daft. If you've already proved your identity with a 'list A' document when you started your banking relationship with them then why would the regulations require the customer to do that again with every new account opened? My identity hasn't changed since opening my first account, and I cannot think of any reason why it would change other than a change of name for which other documentation would be necessary.
I'm trying to work out if I've been given duff information, or if the regulations really are this strict.
For those making appointments to open the issue 9 it might be a good idea to take all your documentation along just in case.
Yeah I had the same issue due to their system changes when opening issue 8 in store recently but luckily had the required docs with me.0 -
How to open a branch base product over the phone ??Has anyone had problems with Virgin Money opening Regular Saver accounts in store? When I opened my issue 8 the system wouldn't accept an electronic check and required documents instead. Some backwards and forwards on the phone has resolved this by taking a recent utility bill to the store.
Now the customer services team on the phone have said that due to money laundering regulations they now require both a 'list A' and a 'list B' document every time a new account is opened.
This seems a bit daft. If you've already proved your identity with a 'list A' document when you started your banking relationship with them then why would the regulations require the customer to do that again with every new account opened? My identity hasn't changed since opening my first account, and I cannot think of any reason why it would change other than a change of name for which other documentation would be necessary.
I'm trying to work out if I've been given duff information, or if the regulations really are this strict.
For those making appointments to open the issue 9 it might be a good idea to take all your documentation along just in case.0 -
Thanks, seems to confirm the advice I got. What a crazy system.Frogletina wrote: »I have opened all regular savers in branch and they greeted me by name when I went in yesterday, but I was advised that their new system requires two documents (one from the A list and one from the B list) each time an account is opened.
Big assumptionAssuming you have them of course and in date
The head office CS person I spoke to suggested I opened the online account instead of the store one because the online checks were done differently. Hopefully Virgin are not going to become a less attractive place to save money.Yeah I had the same issue due to their system changes when opening issue 8 in store recently but luckily had the required docs with me."In the future, everyone will be rich for 15 minutes"0 -
Special_Saver2 wrote: »Hi Everybody,
I have made the following changes for this weekend's update.
- Virgin Regular Saver issue 8 replaced with issue 9, which has a maturity date of 1st April 2019
- Lees BS Regular Saver issue 12 replaced with issue 13, which has a maturity date of 28th February 2019
I will do another update next weekend.
SS2
For those new to this thread, the first few posts are constantly updated and are here
VRS9
Issue Annual interest
% Gross2 Annual interest
% AER1 Monthly interest
% Gross2 Monthly interest
% AER1 Maturity date
9 2.25 2.25 2.23 2.25 20 February 20190 -
SS2 is referring to the store version, called the Regular Saver. You're referring to the online version, called the Regular E-Saver.Wheres_My_Cashback wrote: »VRS9
Issue Annual interest
% Gross2 Annual interest
% AER1 Monthly interest
% Gross2 Monthly interest
% AER1 Maturity date
9 2.25 2.25 2.23 2.25 20 February 20190 -
YorkshireBoy wrote: »SS2 is referring to the store version, called the Regular Saver. You're referring to the online version, called the Regular E-Saver.
Oops !!!!!0 -
With the update to the Leeds BS online services, I set mine up today. You can now request a withdrawal online, but only via cheque. So if you do miss the deadline for pre logging your maturity instuctions, this is now an option. In the past they always send cheques first class so get them rather quickly. If you use Halifax etc. you can now pay the cheque in via the app so not as tedious as it used to be.
Just as a side note, if you have an online account with them you can also now request internal transfers online and then do the withdrawal this way.
Just to add to the above - you can also request closure of accounts once logged in.
So that pesky 'Access Saver' account that I've had for several months with £250 in it has finally gone! :T
I think some of us managed to inherit that account by being a bit too eager when Leeds BS's regular saver was launched.
Cheque's arrived today, deposited via my phone and the account no longer present on online banking. :grouphug:
Official MSE canny forumite and HUKD VIP badge member :grouphug:0
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