A Tale of Three Online Applications

jagu

What a difference. Looking to spread my savings around, I have just tried to apply for accounts with three of the MSE-recommended institutions:

1. Yorkshire Building Society.
   Online application. Instant approval. Given an account number straight away that I can use to transfer money from another bank. I can log in and see the account straight away and the site says "should be visible tomorrow".
2. Tesco.
   Online application. Instant approval in principal. Now have to wait for them to send me "paperwork" to read, sign and return. Front page of web site warns of processing delays. Then, when the account is set up, I have to apply separately for internet access.
3. Scarborough Building Society.
   Web form to fill in which "must be printed and sent to Scarborough Building Society once it has been completed, as it does not submit the application via electronic means". Asks for endless information not required by Tesco and YBS (e.g. driving licence no, passport, electricity supplier etc.)

In 10 minutes I have my YBS account up and running. The others I could imagine taking 10 days.

Congratulations and praise to Yorkshire Building Society for a fantastic online process!

Julian

Ken68

Similar story here Jagu, instant buy with NSandI Growth fixed Bond at 4.2% over the counter Post Office, and yet still waiting for AA guff and gave up on Tesco.

nilrem_2

jagu wrote: »

1. Yorkshire Building Society.
   Online application. Instant approval. Given an account number straight away that I can use to transfer money from another bank. I can log in and see the account straight away and the site says "should be visible tomorrow".

Now that is the way it should be and the whole point of being able to open an account on the internet, we think this is brilliant because we are comparing this service to others who make things so difficult that we lose the will to live, but this should be the 'norm'!

Good service from the Yorkshire though; if only others would copy their example.

Lokolo

Egg I had to send them proof of address because I wasn't on electoral roll or anything because of my age. Other than that (I sent a photocopy within a couple of days and the account was set up very fast) they have been great for me

isofa

jagu wrote: »

2 Tesco.Online application. Instant approval in principal. Now have to wait for them to send me "paperwork" to read, sign and return. Front page of web site warns of processing delays. Then, when the account is set up, I have to apply separately for internet access.

I think you'll find Tesco will be by far the worse of your chosen 3 - you haven't got to any significant stage with it yet, so I'd not count my chickens yet! Your account won't be up and running for weeks yet, they send forms and info, back and forward many times. Great rate, terrible opening procedure, see the other threads on it!

Oh and don't forget after you have the passwords and it's open, to order a card and card reader, otherwise you won't be able to withdraw funds either! (That can take up to 21 days to arrive too!)

oldagetraveller

I'm with isofa, tried to open a Tesco savings account last year ( I think there was a Clubcard points bonus offer at the time). I usually don't encounter any problems with other organisations when opening accounts but with Tesco after about 6 weeks of to-ing and fro-ing with various forms and other bits of paper trivia the account still wasn't opened and the points award deadline had passed (now there's a thing)! I then gave up and got my £1 opening deposit back.
So good luck with them.

kostigovs

Ken68 wrote: »

Similar story here Jagu, instant buy with NSandI Growth fixed Bond at 4.2% over the counter Post Office, and yet still waiting for AA guff and gave up on Tesco.

Did you notice that the rate dropped yesterday to below 3%

Ken68

kostigovs wrote: »

Did you notice that the rate dropped yesterday to below 3%

Didn't know that, always looking at Moneyfacts as well.
B ought another £500 at 12.50pm so here's hoping.
Thanks for the heads up.

jennifernil

My daughter opened a fixed rate ISA with Scarborough. We found them very efficient. You do have to print and send the form etc, but it was all dealt with very quickly.

evenasus

Easiest account I've ever opened, was with Norwich & Peterborough BS.
Opened online, no paperwork to send.
Fast friendly service.

morrisoscar

Ken68 wrote: »

Similar story here Jagu, instant buy with NSandI Growth fixed Bond at 4.2% over the counter Post Office, and yet still waiting for AA guff

Applied last Monday my documents arrived today, on the AA web site it says ''fully subscribed'' is it worth sending the docs back?