yorkshire 6.5% regular saver

lipidicman

Does this regular saver continue to build up, roll-over (ie empty and restart like halifax) or expire on anniversary?

Kazza242

lipidicman wrote:

Does this regular saver continue to build up, roll-over (ie empty and restart like halifax) or expire on anniversary?

It continues until the account balance reaches £20K and then it is converted into a lower paying interest account. Of course one can avoid this happening by using the one free withdrawal each year, to withdraw enough money so the balance never reaches £20K.

lipidicman

Aha! I couldn't see the 'maturity condition' on the site - great tip Kazz

lipidicman

Just got myself one of these.

One niggle, you can make your one withdrawal but closure results in loss of bonus. I guess the strategy is to withdraw the whole balance, but then make the smallest payments until your anniversary and close the account then so you do not lose your bonus.

Any input from those who have had this a little longer

RayWolfe

The trick is to close it imediatly after an anniversary.

lipidicman

Sure, but if you want the money earlier.......

I am used to the Halifax Monthly (not the 7% regular) where you can close at anytime. The Yorkshire however treat a withdrawal and closure differently. Fine, you think. Withdraw it all, but then you don't get the interest and must continue to fund the account to ensure that you do get the interest. Just wondered if anyone else had noticed this

RayWolfe

C'mon, use your imagination. ;-)
If you want the money earlier, take out all but £10 continue to make payments of £10 ... that's not going to break the bank and your within their terms.

Chadsman

Kazza242 wrote:

Yes, you can. Please see this thread here for more info. Refer to post 5 onwards.

You need to get your RS added to your YBS online profile and then you can make transfers from your internet saver to it. Though there is a 1 day delay on the payment arriving in the RS, e.g. payment leaves the internet saver on Monday and arrives in the RS on the Wednesday.

Is there a really a whole days gap between the funds departing the internet saver and arriving in the regular saver? :eek:
That is very poor.

Kazza242

Chadsman wrote:

Is there a really a whole days gap between the funds departing the internet saver and arriving in the regular saver? :eek:
That is very poor.

Yes, there is unfortunately. It isn't good is it.

I pay into my YBS regular saver over the counter on the 1st working day of each month, as there is a branch very near to where I work. Fortunately, my Coventry First account allows cash machine withdrawals of up to £500 per day.

lipidicman

lipidicman wrote:

I am used to the Halifax Monthly (not the 7% regular) where you can close at anytime.

For anyone who has one of these, I was WRONG. You must do the same. Leave a tenner in there and keep paying in the minimum. Even the staff did not know this!