Darlington Bs - Lowers Restrictions On Account Opening

skoolmaster

:T DARLINGTON BS - LOWERS RESTRICTIONS ON ACCOUNT OPENING :T

MONTHLY SUPERSAVER:
a variable rate 1 year term regular savings account, with a minimum investment of £50 per month (maximum £250) paying 8.00% on maturity. 12 consecutive payments must be made or account reverts to an Instant Access account.
Earlier access on closure only subject to 45 days loss of interest.
Withdrawals not permitted.
:j AVAILABLE NATIONWIDE:j


APPLICATION FORM pdf (follow link)
http://www.darlington.co.uk/S54-Monthly-Supersaver.html

http://www.darlington.co.uk/savings-2-Regular-savings-accounts.html

or contact sales@darlington.co.uk

18 Jul 2008
moneyfacts

Milarky

It certainly comes up as available in my area on their post code checker. The Instant Access Account, which they transfer to, is absolutely dire however.

Just looking, once the RS account is opened you become eligible to open a few more kinds of accounts (as 'existing' member) and the Helping Hand Account looks the least worst of the bunch with 3% on £100 (£1+)

Slightly better still, at 4.43%, is their Flexisaver Regular Savings Account - with £10 per month & 1 annual withdrawal allowed

[strike]Anyone know which bank (account & sort code) they use for standing order purposes?[/strike]

Looks like they use Sort code 401903 Account No.40277061 and that should go via FPS according to APACS

Just thought it worth putting this down - their standard 'signaway' clause:

1 By applying to open a share account on or after 1st February 2000 I agree with the Society and the County Durham Foundation (“the CDF”) that I will assign to the CDF (or to any charity (ies) nominated by it or by the Society under the provisions of a deed dated 31st January 2000 between the Society and the CDF, in which case references to the CDF shall include references to any other charity(ies), but to no other person) the rights to any relevant conversion benefits (defined below). This obligation will not apply to me if I fall within any class of persons which, as at today’s date, the society wishes to be excluded from such obligation.

This agreement is irrevocable and authorises the Society to transfer to the CDF any such benefits without further notice to me. I understand that neither the Society nor the CDF will release me from this agreement or vary its terms and (except as set out in paragraph 2 below) I will continue to be bound by the above condition even if the Society decides at some time in the future (and announces any such decision by press release) that it is no longer in the best interests of the Society to continue with the above assignment condition generally in respect of new members.

2(a) “Relevant conversion benefits” means any benefits to which I might become entitled as a shareholding member of the Society under the terms of any future transfer of the Society’s business to a company (ie on a conversion or takeover) which is completed at any time within the five years immediately following the date on which my share account is opened (or, if applicable, the shorter period as set out in the list available from the Society’s Secretary). “Relevant conversion benefits” does not include the statutory right to have shares in the Society (including any balances on share accounts) converted into deposits with the company on a conversion or takeover.

2(b) If the Society merges with any other society, after the date of such merger the “Society” includes such other society.

As I read that it's five years to requalify under a flotation and no exclusion from a payout in the event of merger with a larger society. The five year exclusion after any merger is probably meant to survive that event and run for the orginal period. (unless taken over by a Nationwide!!)

bristolleedsfan

Anyone who is a 3 year + member or whom a further 12 months membership will take them to 3 + years membership, Darlingtons "Loyalty bonus account" is currently paying 4.68% Gross on 1.00 +

If only someone would buy Darlington BS. :think:

mary

Just been checking various rates, and this one seems to have fallen like others: http://www.darlington.co.uk/Savings-Interest-Rates.html

Speculator

With another cut due maybe to 5.00% after the December BOE rate cut, it's time to change my monthly payments to £50 pm.

mary

Obviously it depends on the rate you are getting in your feeder account, mine until end of December is 6.49%, but then after that my Egg is 5.05%. So what seems a low rate for Darlington now may in a month's time seem quite a good deal! It's constantly changing.