Leeds BS 3.05% Easy Access Online Saver

bristolleedsfan

LBF wrote: »

I phoned Leeds Building Society earlier today to find out whether or not they had received my initial cheque. I was told that this account closed last night and that I would have ten working days in which to get any additional deposits to them.

Does that only apply to people who have submitted an opening cheque, Ive sat on application forms as I was planning to chuck my maturing 25 year endownment funds straight into the account. ( 9th July)

LBF_2

bristolleedsfan wrote: »

Does that only apply to people who have submitted an opening cheque, Ive sat on application forms as I was planning to chuck my maturing 25 year endownment funds straight into the account. ( 9th July)

I'm sorry, I don't know the answer to your question. I phoned again today and my account is up and running. I was again told that this account is now closed and so I asked again about sending further funds from my building society. I have been informed that I will be sent an email when no further deposits are being accepted. The advisor doesn't know when this will be. It could be a week, two weeks ........., she doesn't know. If the email arrives after I have sent funds from my building society but before they arrive at LBS then they will still be accepted.

alanq

Email just received.

"For a limited period only the Online Access Account remains open for further investments, so take advantage of this great rate by topping up your account now. The account has been extremely popular and won’t be open for additional investments for long."

LBF_2

I've received the email as well and I am wondering whether to top this account up now, rather than open another account elsewhere with a slightly higher rate.

Steve_xx

LBF wrote: »

I've received the email as well and I am wondering whether to top this account up now, rather than open another account elsewhere with a slightly higher rate.

I wouldn't bother with this one now as A&L & Birmingham Midshires have exceeded this with a 3.15% offer.

Froglet

I know people slag off Santander but having just opened the A and L account,i cannot fault them,and if you send money via a faster payments bank(i'm with HSBC) it gets there instantly,which is great.

However if you go to their website and arrange it that way it takes days!

Birmingham Midshires is only a postal or telephone one,i can't remember which.

EalingSaver

Oh, I don't think it will be long before you'll be thinking you can fault them.....perhaps the clue lies in the name (Online Saver Issue5....and not even eSaver Issue 1,2 3 etc.....).

A&L operate their online banking in traditional UK banking mode: launch a product, attract people in, then quickly and quitely drop the rates and launch a new product.

I had eSaver issue 1, quitely (for those holding issue 1) superseded by Issue 2 (with rates on issue 1 slashed) which within a short period of having managed to get opened (long story) was bettered by eSaver Issue 4 (why???? how many internet access accounts does a bank need to offer) which within weeks of opening was superseded (again without notification to their existing customers) by Issue 5. A&L are dreadful from that perspective.

Steve_xx

EalingSaver wrote: »

Oh, I don't think it will be long before you'll be thinking you can fault them.....perhaps the clue lies in the name (Online Saver Issue5....and not even eSaver Issue 1,2 3 etc.....).

A&L operate their online banking in traditional UK banking mode: launch a product, attract people in, then quickly and quitely drop the rates and launch a new product.

I had eSaver issue 1, quitely (for those holding issue 1) superseded by Issue 2 (with rates on issue 1 slashed) which within a short period of having managed to get opened (long story) was bettered by eSaver Issue 4 (why???? how many internet access accounts does a bank need to offer) which within weeks of opening was superseded (again without notification to their existing customers) by Issue 5. A&L are dreadful from that perspective.

You're absolutely right. A&L drive me nuts with this malarky of slashing rates and then offering new accounts with better rates with slight variances in the naming of them. This is blatantly done in the hope that the customer wont notice. The more they do this, the more it irritates me and it makes me think that as soon as other institutions offer better and more consistent rates that I will punish A&L and shift funds out.

Froglet

Thanks for the warnings,guys.However i am quite used to Bradford and Bingley doing the same thing.They are under Santander as well now ,aren't they? That is why i like easy access ,won't take long to move if need be! Coventry and Egg have done just the same in the last few months so they have been "downgraded",i just leave small amounts in, in case they improve their rate in future.

I can see why most people would lose out though,some haven;t the time or inclination to keep checking .But on this great site,nothing slips past the old faithfuls!!

ChiefGrasscutter

...and in response to us, the financially saavy, merely moving our money to the lastest 'e-saver whatever' account, the various savings institutions are starting to specify that only "new money" is permitted into their latest offerings... thereby forcing you to move it all out to your linked bank account and then back in again to the new account.
This obviously takes up time and effort and incurs a loss of interest while the transfer out/back is being done.

I can assure you the savings providers know exactly what they are doing with all these new accounts endlessly launched.