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YBS Regular Saver T&C's change
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YorkshireBoy
Posts: 31,541 Forumite
Don't think this has been posted yet...apologies if it has.
Branch staff have told me today that, due to customer queries/complaints, the anniversary of account opening FOR THE ONE WITHDRAWAL per year condition is now the 1st of the month in which the account was opened.
ie, if you opened your account on, say, the 16th June last year, then your next account year now starts on 1st June. Anyone wanting to make a withdrawal in this account year will now need to do it on or before 31st May. In this example, withdrawals made between 1st June and 16th June will count as using NEXT YEAR'S withdrawal condition.
When your passbooks are updated you'll see a correction where they've migrated you to the new T&C's. There will be two entries...a debit and re-credit (both for your full balance) each titled 'PRDT MIGRATED'.
There are also changes to the interest payment date. The interest will now be paid on the last day of the month before the account opening month. In the example above, it will be paid on 31st May (for an account opened anytime in June).
Branch staff have told me today that, due to customer queries/complaints, the anniversary of account opening FOR THE ONE WITHDRAWAL per year condition is now the 1st of the month in which the account was opened.
ie, if you opened your account on, say, the 16th June last year, then your next account year now starts on 1st June. Anyone wanting to make a withdrawal in this account year will now need to do it on or before 31st May. In this example, withdrawals made between 1st June and 16th June will count as using NEXT YEAR'S withdrawal condition.
When your passbooks are updated you'll see a correction where they've migrated you to the new T&C's. There will be two entries...a debit and re-credit (both for your full balance) each titled 'PRDT MIGRATED'.
There are also changes to the interest payment date. The interest will now be paid on the last day of the month before the account opening month. In the example above, it will be paid on 31st May (for an account opened anytime in June).
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Thanks for the info. I have just added a link to this thread from my on-going regular savings account thread.0
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Thanks.
The anniversary of mine is 11th May, so I'd made a mental note to make my big withdrawal on 12th May after the interest was added.
After reading your post, I just checked and the interest and bonus was added yesterday (sneaky).
Well, at least it means I can get it out a little quicker.0 -
This also means that if you opened it on say 16th April, and have received your interest payment for this tax year, your next interest will now be paid on 1st April bringing it into the same tax year, i.e. two lots in one tax year.YorkshireBoy wrote: »There are also changes to the interest payment date. The interest will now be paid on the last day of the month before the account opening month. In the example above, it will be paid on 31st May (for an account opened anytime in June).0
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