Regular Saver Thread **New and Restarted**

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  • Hi Everybody,

    Here is this weekend's update.

    - Scottish BS Regular Saver account added (details as in posts above)

    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

    I can confirm others experiences with the strict need for certified ID to open this account by post.

    I'd hoped they were all bluster and would electronically verify when push came to shove.

    They didn't and they won't.
  • I can confirm others experiences with the strict need for certified ID to open this account by post.

    I'd hoped they were all bluster and would electronically verify when push came to shove.

    They didn't and they won't.

    Whilst I agree that Scottish are taking a hard line on ID, it does not have to be certified. They have confirmed to me in writing (email) that originals will do, see post 1310.


    All of us on here must have bank statements etc coming out of our ears, I can satisfy both list A and B and don't care whether I get them back.


    Another way to beat this is to open an online easy access account and deposit a £1, they will verify you electronically. Once this is open you can open a regular saver without any ID requirement as you will then be a current member.


    Whilst I agree that chasing 2% is not ideal, it is where we are at the moment if we are looking to maximise returns when all other avenues have been exhausted.
  • veryintrigued
    veryintrigued Posts: 3,843
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    edited 26 September 2018 at 5:44PM
    arsenalboy wrote: »


    All of us on here must have bank statements etc coming out of our ears, I can satisfy both list A and B and don't care whether I get them back.


    .

    List A states:

    UK bank / Building Society Statement with corresponding debit card.

    That reads to me that they need the Debit card too!? That's not something if be comfortable sending nor any of the other Doc's as below:

    st A – Proof of who you are:
    • Current signed UK or EU passport
    • Current UK photocard driving licence (full or provisional)
    • Current full UK driving licence (old style paper version)
    • HMRC Tax Notification (not P45 or P60)
    • UK Bank/Building Society Statement* with corresponding debit card (we do not accept credit card statements)
    • Firearms Certificate or Shotgun Licence
    • Notification letter confirming entitlement to state benefit, tax
  • List A states:

    UK bank / Building Society Statement with corresponding debit card.

    That reads to me that they need the Debit card too!? That's not something if be comfortable sending nor any of the other Doc's as below:

    st A – Proof of who you are:
    • Current signed UK or EU passport
    • Current UK photocard driving licence (full or provisional)
    • Current full UK driving licence (old style paper version)
    • HMRC Tax Notification (not P45 or P60)
    • UK Bank/Building Society Statement* with corresponding debit card (we do not accept credit card statements)
    • Firearms Certificate or Shotgun Licence
    • Notification letter confirming entitlement to state benefit, tax

    Personally I will be sending a tax notification, get plenty of those too!

    People are saying Scottish have set the bar too high on ID but it is doable.

    If you don't want to send documentation, take the other route i.e., open an online account first which requires no ID submission and then open a Regular Saver which will require no ID either because you are now a member.

    This is no different from a lot of Reg Savs that require "another" account.
  • arsenalboy wrote: »
    Personally I will be sending a tax notification, get plenty of those too!

    People are saying Scottish have set the bar too high on ID but it is doable.

    If you don't want to send documentation, take the other route i.e., open an online account first which requires no ID submission and then open a Regular Saver which will require no ID either because you are now a member.

    This is no different from a lot of Reg Savs that require "another" account.

    Some good advice here which supercedes the (in my opinion) poor bank statement advice you gave earlier if attempting to fulfill the requirement for List A.
  • Some good advice here which supercedes the (in my opinion) poor bank statement advice you gave earlier if attempting to fulfill the requirement for List A.

    I had already mentioned previously the alternative route to overcome ID requirements, sorry that you missed this and that you consider my advice poor.

    I am only trying to be helpful and we are all adults that can make choices on what we chose from list A and B. I have sent bank statement from list B which does not require a bank card, together with a tax letter from list A.


    I hope this clarifies the situation and is of use to somebody.
  • karlie88
    karlie88 Posts: 9,113
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    arsenalboy wrote: »
    Personally I will be sending a tax notification, get plenty of those too!

    People are saying Scottish have set the bar too high on ID but it is doable.

    If you don't want to send documentation, take the other route i.e., open an online account first which requires no ID submission and then open a Regular Saver which will require no ID either because you are now a member.

    This is no different from a lot of Reg Savs that require "another" account.

    A few days ago colsten mentioned that opening the online saver does not necessarily circumvent their ID requirement:
    colsten wrote: »
    I thought I was going to be clever and get their instant access account as that one is "open 24/7" and makes me an existing customer. Sailed through the online application, just to be told they'll get back to me "in the next few days" to let me know whether they need extra proof of ID........

    Nice account, difficult to get if you are not an existing customer.

    Any updates on this colsten or anyone else?

    For me, I'm 'only' able to choose from 3 pieces of documentation within List A: passport, driving licence or bank statement with debit card. There is no way I'd send one of those in the post, even via Royal Mail Special Delivery. Too much of a risk; plus there's no guarantee that the BS will send via Special Delivery back to me.

    Not for me this particular product, but realise that it works for others.
    :grouphug: :D Official MSE canny forumite and HUKD VIP badge member :D :grouphug:
  • colsten
    colsten Posts: 17,597
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    Yep, I have an update on applying for the Scottish BS RS.
    • I applied for an Online Saver on Friday, 21/09. This account wasn't opened instantly - all I was told was that they had the application and that they'd be in touch.

    • Tuesday 25/09 I received confirmation, by snail mail, that the Online Saver was now open. I also got the information required to set up my online access, as well as details on how to make deposits, incl by bank transfers

    • As they had now verified my ID, I sent off the paper application form for the Regular Saver (not before checking whether existing customers could apply online - - but no such luck). I sent just the form and a cheque for the initial deposit, no ID gobbins. This was posted 1st class at 4 pm yesterday, Tuesday 25/09. I also made a small opening deposit from my nominated account into the Online Saver by FP around the same time

    • they called me around 4pm this afternoon as they had received the RS application form. We had a bit of a debate over whether they had verified my ID and whether I had made an opening deposit into my Online Saver as they didn't appear to have processed my FP of yesterday yet. He was in the end satisfied that they had indeed verified my ID, that I had made an opening deposit into the Online Saver, and that this deposit had come from the same account the cheque for the RS opening deposit is drawn on. He said he would now proceed with opening the RS and I'd get confirmation and a passbook shortly. Hooray!

    • As of right now, I can see my Online Saver account, complete with yesterday's FP deposit, when logged into my SBS account. The RS doesn't show but then it probably isn't meant to show as it's a passbook account.

    Whilst it wasn't the fastest way I ever opened an account, it wasn't the slowest either and I am happy that my approach is the least painful and costly to get your ID verified if you can't pop into any of their Branches. With the proviso that you need to be reasonably certain that you can be electronically verified. Good luck to others who want to go the same route.
  • veryintrigued
    veryintrigued Posts: 3,843
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    edited 27 September 2018 at 2:37PM
    Just received confirmation that this interest rate will be increasing to 2.5% on the 1st October. This includes the current first year 1% bonus.

    The Young RS will see a rise to 2.75%>

    https://mansfieldbs.co.uk/latest-news/rate-changes-with-effect-from-1-october-2018?utm_source=Mansfield%20Building%20Society&utm_medium=email&utm_campaign=9853562_Member%20autumn%20update%202018&utm_content=Rate-change-11018&dm_i=1EPX,5V722,RMRSUB,MXQKF,1
  • gocat
    gocat Posts: 5,905
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    RG2015 wrote: »
    The countdown is on then for the Virgin Money regular e-saver. Only four days left for the sequence to be maintained.
    Just noticed this 3% RS. Is there a way to open it online. Already have other Virgin RS's which were opened online.
    tia
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