Yorkshire Building Society ISA transfer or not

Dustykitten

I've got one of my ISAs with Yorkshire - it is quite an old one as it was a Tessa Rollover. It's fixed year is up and the new rate is not good - fixed at 2%

I've been looking to move it, maybe merge it into my NatWest e-ISA but then I would not have an account with Yorkshire any more. In the past I know if building societies have merged then members have been given shares. Does this still happen? Is it likely?

Any thought welcome - thanks

apt

It is very unlikely, but you could preserve your membership and voting rights with YBS by opening a savings account with them and putting £100 in it.

Dustykitten

Thanks apt - just went though the application and realised at the end that I had to be a member since April 1998 to benefit and mine was after that so don't think it applies anyhow.

martinman3

Dustykitten wrote: »

Thanks apt - just went though the application and realised at the end that I had to be a member since April 1998 to benefit and mine was after that so don't think it applies anyhow.

1998 was probably when the Charitable Assignment clause was brought into force. Before that date you didn't need to wait five years and the Charitable Assignment clause didn't apply. Since that date, if you have been a member for five years you are eligible to benefit from merger bonuses etc.

Although the age of demutualisation bonuses has probably gone there is a significant advantage to remaining a member of any society. Some high interest paying accounts at societies are only open to those who have been members for many years and £100 is not a lot to ensure that you can open any future accounts that require this.

fullstop

martinman3 wrote: »

1998 was probably when the Charitable Assignment clause was brought into force. Before that date you didn't need to wait five years and the Charitable Assignment clause didn't apply. Since that date, if you have been a member for five years you are eligible to benefit from merger bonuses etc.

Although the age of demutualisation bonuses has probably gone there is a significant advantage to remaining a member of any society. Some high interest paying accounts at societies are only open to those who have been members for many years and £100 is not a lot to ensure that you can open any future accounts that require this.

Not at the Nationwide, appalling rates for long standing members.

Members ISA Bond

£ - £1 £9999 0.5%
£ - £10.000 £24.000 0.6%
£25.0000 plus 0.75%


Only allowed one withdrawal a year, and that needs 60 days notice.

scott_lithgows

Please,please,please dont let the Yorkshire demutualise!