Bradford and Bingley 6% Fixed Rate Monthly Saver (Abbey)

apt

Not sure that the loophole would work as the customer has deliberately broken the account's terms and conditions. The bank could probably argue that the stipulated interest rate penalty does not cover such a deliberate and large scale breach and might close the account or return the excess money without interest.

housesitter

Well not really. because their terms and conditionas state for that month only.

I too am looking at this potential loophole and wondering.
If....

How can we get this confirmed? Martin?

RayWolfe

See my reply in your other thread.

jimbow25

It looks as though the list of branches offering the Abbey savings products has been extended in the last few days (e.g. they've now added Reading and Slough to the South East list)

edda

How long did it take to open one of these accounts?

Was told I can't just walk in off the street and open an account - I have to make an appointment and allow 1 hour as it's a new product and the staff aren't up to speed on it yet. :eek:

Plus, no Saturday appointments for the next 2 weeks - tough if you work all week and no branch nearby.

dougz_2

edda wrote: »

Was told I can't just walk in off the street and open an account - I have to make an appointment and allow 1 hour

Hmmmmmm, you sure that is not just an excuse to try and sell you other products?

edda

dougz wrote: »

Hmmmmmm, you sure that is not just an excuse to try and sell you other products?

No I'm not - that's why I thought I would ask others how easily it was to open their account.

"Trust no one in financial organisations" could be my motto (dating back many years).

mary

Rubbish, I walked in off the street, (no appointment), with ID only, said what I wanted. Told to wait about 2 mins while she finished off something, came to me, spent about 5 minutes filling out the form, photocopying ID, their system was down, and yes they were learning on the job, but was promised that it would be in the post later that day, and it was. Account details etc. That was in Gloucester.

It was midweek and in the middle of the morning.

cottons

edda wrote: »

How long did it take to open one of these accounts?

It doesn't take long in theory, but .... the issue is that each of the Bradford & Bingley branches in the list has had an Abbey terminal installed in the branch and this is what the staff have to use to open the Abbey Fixed Regular Saver account.

As the staff are new to the Abbey computer system, they are more unsure about what they are doing, and therefore slower, than if they were on the familiar B&B systems.

So if everyone comes in at once there would be a long queue at the Abbey computer terminal and everyone would start to get annoyed, which obviously they don't want.

If you can find a quiet branch (like the Hannover Square one) then of course they will open it without an appointment.

S

edda

Thanks for the replies on my query.

Interesting to read how different branches treat prospective customers. It was Saturday morning when I went in - but there was no queue and no other people in the branch. Perhaps the cashier I spoke to was anticipating a sudden rush later or? :rolleyes:

Don't think I'll bother with the account after all.