West Bromwich BS Branch bonus Account

Joop_2

This BS has introduced a Branch bonus Account for "New funds Only" does anyone understand what that actually means?

Baldur

Joop wrote: »

This BS has introduced a Branch bonus Account for "New funds Only" does anyone understand what that actually means?

You can't transfer funds from other West Bromwich accounts into the account, they have to come from elsewhere - i.e. they are 'new' to West Bromwich BS.

lemonjelly

Does this account appear much good? The bonus only lasts up until the end of march 2010.

Joop_2

Can you open this account with "New Money", then close your only other account and when the cheque has cleared in your bank, pay it into this Branch Bonus Account?

Joop_2

My understanding is that the bonus lasts until August 2010

johnoz

From website:

3.70% AER Variable (which includes a 1% Bonus up to 31st August 2010) 3.75% Gross p.a. Variable

johnoz

Joop wrote: »

Can you open this account with "New Money", then close your only other account and when the cheque has cleared in your bank, pay it into this Branch Bonus Account?

I opened one in branch the other day. They told me that you could pay in by either cash, or cheque from any other institution apart from the West Brom.

Baldur

Joop wrote: »

Can you open this account with "New Money", then close your only other account and when the cheque has cleared in your bank, pay it into this Branch Bonus Account?

Yes, as long as the funds arrive from outside WB, they qualify.

Joop_2

johnoz, does that mean that if I close my only other older account with them, and when the cheque they give me has cleared in my bank( not WBBS) I can pay that amount into the branch bonus account with a cheque from my bank?

dougz_2

johnoz wrote: »

3.70% AER Variable (which includes a 1% Bonus up to 31st August 2010) 3.75% Gross p.a. Variable

Not a huge bonus really, so it's very dependent on them maintaining the variable part. Does anyone know what they have been like in the past at that sort of thing?

Also, can you run it at all without visiting a branch. i.e: pay in by BACS transfer, or request a withdrawal by phoning branch etc? or do you have to turn up in person with your passbook to do anything?

Noble_Savage

Joop wrote: »

This BS has introduced a Branch bonus Account for "New funds Only" does anyone understand what that actually means?

It means that, as far as West Bromwich Building Society is concerned, its existing loyal customers can go hang. Not nice. :mad: