Derbyshire regular saver interest rate cut

mary

I rang them up, told them I wanted to open this account, could they possibly send me an application in the post. I simply had to send them ID (bank statements, gas bill etc.) and they returned the passbook etc. more or less the following day. I have never been into a branch. They are user friendly, almost get the feeling they are pleased to get phone calls and that people have thought about them! Just explain, if necessary, you are going to find it difficult to "pop" in, because of the distance, but only if asked. It didn't happen in my case.

david78

Oh thanks very much mary, I will telephone them tomorrow.

I have £200 to save per month and their Regular Saver Bond Issue 2 seems the best option.

Careful_ly

Letter informing of rate change arrived today
I have 2 accounts, 2 letters seperate envelopes!!
States that can change to another account but they dont include details of any other accounts that they have.

eagle

Just thought I'd add my experience. I recently opened a Derbyshire account and will also be closing it. Moving to either A&L or the Principality Regular Saver Bond Issue 2.

MiserlyMartin

I'm been mulling this over and I think I will close the account. Vote with your feet and all that. A 0.4% reduction when there has been no base rate move is disgraceful. Ranting aside, this might have happened because the account is now oversubscribed for the rate they were paying? They actually want us to close accounts?

I got a letter yesterday that says "In the best interests of all our members, we at the Derbyshire need to maintain the right balance between the rates we charge to borrowers and the rates we pay to our savers, which is why we have to make this change at this time". !!!!!

Interest of all our members!!!!???? What do they mean, this is certainly not in the interests of its saving members! If this will in effect mean that by paying us less, they can charge less for mortgages?. If this is right then this is not on, rates for savers are stripped to the bone after inflation as it is. Anybody else fumed at this letter?

eagle

I quite agree. It is disgraceful and it's all because of this site that they've had any business come their way...

Thing is though, if we do close now, we get no interest. However, as I've barely had the account for a month and a few days, I think I won't be losing much.

I won't even bother complaining, I will vote with my feet as you say.

Deemy

The derbyshire is competent ! The idiots lost the R85 for my wifes account, and hence I have to do ALL the work of completing the R40's across TWO tax years ! Lazy good for nothing uselless pieces of crap !

AVOID THE DERBYSHIRE FOR THEY ARE FING USELESS !!!

MiserlyMartin

eagle wrote:

Just thought I'd add my experience. I recently opened a Derbyshire account and will also be closing it. Moving to either A&L or the Principality Regular Saver Bond Issue 2.

Trouble is A&L need you to open a current account to qualify. I can't be bothered with that hassle, plus its only for a year. And Principality BS need to to be an existing customer and its maximum investment £6k plus you have to open it in the branch. Seeing as they are based in Wales thats no good for me in SE England!

mary

Are you sure? Have you asked them? Last year I opened mine and sent ID through the post. Give them a second call if you've asked already. I certainly didn't go over the bridge.

MiserlyMartin

Sorry I've just read further back and seen you had no problems. I will phone and see. So can you open up a normal reg saver then be able to apply for an issue 2 straight away?