Regular Savings Accounts Article Discussion
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Under Everyday Day Banking, then Regular Saver.
It states at least £25 deposit each month and that you can make up any underfunding of earlier months, so as to make up the difference.
For example you have only depositted £600 in 6 months you are allowed to add £900 make it £1500 in total (6x £250)
Hope that helps.
F40 -
Ah, I found that, but what my question was asking was whether I could make two deposits in a month, as long as i stay below the limit..
for example:
Feb 10th : £100 (so £150 limit remaining)
Feb 17th : £100 (so £50 limit remaining)
Then in the next month I understand that I'm able to put in £250 + remaining limits from previous months so in this case £300.
I guess a better way of wording my question would be, does a months deposit have to be in one go, or can it be spread throughout the month.0 -
As far as I am aware yes you can. Send them a secure message for the correct answer.
Report back so we all know.
F40 -
With the HSBC regular saver at the moment, can you do multiple deposits a month as long as you ensure that you do not go over the deposit limits?
Or are you restricted to one deposit a month no matter what?
In my copy of the t&c (which is dated 1/12/2011), on page 47, paragraph 4.5 says "In each of the next 11 months, you can make savings once a month into your Regular Saver" and paragraph 4.7 includes the following: "You can only make one standing order payment to your Regular Saver in any one month".
Whether they enforce this I don't know, but I would play safe and only make one payment per month.0 -
Yup you make 1 payment per month but the maximum balance rises each month so you can make up for any smaller standing orders in previous months but only by making 1 larger payment in a later month.Sealed Pot Challenge #239
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I've sent them a secure message just for clarification, will post back with the reply.0
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Have just found the latest copies of the T&C's.. pretty buried under a load of links but hey ho!
Effective from 01/12/12
Page 39 - Paragraph 3.5
In each of the next 11 months, you can make
savings once a month into your Regular Saver.
These can only be made by way of standing order
from one of the current accounts listed in clause 3.1
and must be for an amount between £25 and the
maximum monthly balance (please see clause 3.6
of these Savings Accounts Terms for more detail on
the maximum monthly balance).
Appears that you can only make one deposit into the account per month, and that HAS to be via standing order.
Thanks anyway folks
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How the First Direct version did this catch up was you asked them to modify the fixed amount standing order for you. HSBC would be the same therefore, I'd guess.Yup you make 1 payment per month but the maximum balance rises each month so you can make up for any smaller standing orders in previous months but only by making 1 larger payment in a later month......under construction.... COVID is a [discontinued] scam0 -
Just modify the SO yourself - easily done online.
Like with any SO, you need to tell them at least a couple of (working) days or so before the due date. Better still, change the amount immediately after a payment has been made. Then, if needed, change it back after your 'overpayment' has been made.0
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