YBS Charity donation deducted from interest

littlemissmoney

Hi

I have a YBS regular saver that's a year old so I've just been paid interest. They have deducted a "Charity donation" from my interest. What's that all about!? I'm sure I never would have agreed to that! (Not that I don't support charities, but I want to choose who I give my money to, not them!).

Is this normal?!

YorkshireBoy

Can't remember if it's 'opt in' or 'opt out', but it's certainly on every application form I've ever filled in with them (and there have been a few). Maybe you missed it?

If you'd rather not donate, just call them and they'll remove future donations.

bristolleedsfan

YorkshireBoy wrote: »

Can't remember if it's 'opt in' or 'opt out', quote]


Its opt out which means that if people dont remember or arent aware to opt out then they are opted into the scheme.

I agree with O/P :T people should be able to choose who and when they give money to.

Ive previously claimed a deduction back by contacting YBS through the webpage.

https://online.ybs.co.uk/public/contact_us/email_us.do

littlemissmoney

Thanks both, I've emailed them for a refund

littlemissmoney

The reply I got from them...

I can confirm you specified on your application form that you did not want to subscribe to this appeal. I have therefore requested that further subscriptions are cancelled and requested a refund of any donations made. Please accept my apologies for any inconvenience this may have caused.

:T :T

bristolleedsfan

When I had the deduction i told YBS that if u wanted to receive less interest id have gone to Brittania BS. :rotfl:

Doomcow

i recently set up a YBS e-ISA and they had an option to give some of my interest to charity. it was an opt-in thing if i remember. figure if im giving to charity, i'll give in my own time.

i can see why folk would but hey...

YorkshireBoy

I have 4 or 5 accounts with YBS, but only one with the donation on it (the others I've ticked the box).

To be honest, my conscience won't let me cancel it...and I certainly wouldn't demand all my previous years donations back.

I appreciate we're all different, but £5 (max 99p a year for 5 years) isn't even two pints of beer. I've also probably lost more than that down the back of the sofa over the same time period!

bristolleedsfan

Doomcow wrote: »

i recently set up a YBS e-ISA and they had an option to give some of my interest to charity. it was an opt-in thing if i remember. figure if im giving to charity, i'll give in my own time.

i can see why folk would but hey...

It is actually "opt out" so if people forget or dont tick the box for any reason at all they are automatically opted in to the scheme.

Personally I agree with the O/P getting all deductions repaid, like u say Yorkshireboy we are all different. ( we dont all have as much money as u do.:p )

quinlanmd

I have had YBS "accidentally" ignore my tick on the application form. I also prefer to choose my own charity, and it was sorted out with a quick online message.

I have no problem with an opt-out box, as long as my choice is correctly input when the application form is processed.

Speculator

My dad opened a Skipton Cash ISA with £100 by post and they "accidentally" opened the NSPCC ISA. He left it because he only invested £100.