Old Building Society Accounts

mgh

Hello

I have a number of (18) building society accounts that i was advised to set up a few years ago in case they were de-mutualised and I could receive a windfall. The interest rates are pretty dismal.

With the current financial position of building societies and the market overall do you think the days of windfall payments are over?

I have accounts with:

Barnsley
Brittania
Catholic
Cheshire
Coventry
Dudley
Earl Shilton
Ipswich
Kent Reliance
Newcastle
Norwich & Peterbrough
Principality
Saffron
Skipton
Tipton
Teachers
West Bromwich BS
Yorkshire


Many thanks
mgh

JoeCrystal

The days of carpetbagging are over.

mgh

does everyone agree?

olly300

Yep.

All that will happen is if the BS is in trouble a bigger rival will swallow it up.

The only reason to have an account with so many BS is if you want another type of account with one them it would be easy for you to open or obtain.

Count_Dante

I think the chances of big money carpetbagging coming back are very slim indeed - most are either going to trundle along half-broke or are going to get swallowed up by the Nationwide after having the most useless assets taken over by the government. No money around to pay carpetbaggers.

I shall be closing my Dunfermline account when I get the interest this summer.

BruceyBonus

Just looking at your list, I've noticed that a few have merged already: Catholic merged with Chelsea; Cheshire is now a trading name of Nationwide; Brittania will soon merge with Co-operative Bank; Barnsley has merged with Yorkshire.

Catholic/Chelsea merger had a payout, the rest didn't.

baby_boomer

Cash them all in and make your life simpler.

It's the green thing to do and the right thing to do .

cheggers

mgh wrote: »

Hello

I have a number of (18) building society accounts that i was advised to set up a few years ago in case they were de-mutualised and I could receive a windfall. The interest rates are pretty dismal.

With the current financial position of building societies and the market overall do you think the days of windfall payments are over?

I have accounts with:

Barnsley
Brittania
Catholic
Cheshire
Coventry
Dudley
Earl Shilton
Ipswich
Kent Reliance
Newcastle
Norwich & Peterbrough
Principality
Saffron
Skipton
Tipton
Teachers
West Bromwich BS
Yorkshire


Many thanks
mgh

Out of that list I'd close the lot ASAP.