Leeds BS: Easy-access, 3.05% AER

dosh37

The 'top instant savings' link from moneysavingexpert.com appears to be broken:-
http://www.leedsbuildingsociety.co.uk/savings/onlineaccess.html

What's going on?
Has this new account been withdrawn already?

m0n3y_3

"due to fantastic demand, the Online Access Account (Issue 4) is no longer available" http://www.leedsbuildingsociety.co.uk/

apt

Probably, but you only got 3.05% until January anyway. 3% for a full year is preferable.

claire07

I'd opened this online and despite being existing customer had to send ID and opening cheque for £100. Now I see the account is on my online list with no money in it but it says you can only add to it whilst open to new investment. So I presume now it is withdrawn I can't put anything in it! Must have missed that in the original terms and conditions.

AirlieBird

apt wrote: »

Probably, but you only got 3.05% until January anyway. 3% for a full year is preferable.

Introductory bonus was extended to 30 June 2012.
https://www.emoneyfacts.co.uk/news/savings-news.aspx?newsarticleid=206037

SnowMan

Yes account can't be added to according to the terms and conditions once it has been closed see this google cache of their webpage.

It is pretty ridiculous of them to do this as it is a variable rate account. The account was only available on Monday and closed on Friday. Doesn't give anyone much chance of funding the account does it, even if they do have a short period of grace.

In the meantime they managed to mis-advertise the account by breaking the rules on quoting AER see this thread.

If you are reading this Leeds Building Society you should be ashamed of the appalling mess you have made of quoting wrong AERs and giving people next to no chance of funding the account :mad:

ShelleyC_2

I'm bemused I've opened one of these but waiting for paperwork.

Haven't yet put any money in but now its closed does that mean I can't?! Or do I have to write my opening cheque for the full amount and hope they'll have to accept?

What a farce!

Need to get :money: on it....

ChiefGrasscutter

ShelleyC wrote: »

I'm bemused I've opened one of these but waiting for paperwork.

Haven't yet put any money in but now its closed does that mean I can't?! Or do I have to write my opening cheque for the full amount and hope they'll have to accept?

What a farce!

Need to get :money: on it....

In general with societies/banks....
Those who have got their paperwork in and sorted will have some limited time beyond the closure date to all new applications to get their money into the account before it is locked out to all further input of funds.
There is only one way to discover how long/what they intend to do...ring 'em up.

ShelleyC_2

ChiefGrasscutter wrote: »

ring 'em up.

Have emailed them as don't wish to pay excess charge for 0845 number from my mobile and there's no answer from the local number I found on SayNoTo0870 today

AndyAndyAndy

ShelleyC wrote: »

I'm bemused I've opened one of these but waiting for paperwork.

Haven't yet put any money in but now its closed does that mean I can't?! Or do I have to write my opening cheque for the full amount and hope they'll have to accept?

What a farce!

Need to get :money: on it....

Shelley,

I also applied for this account (online but I believe that's the only way to apply) If you log in to your account using your customer number supplied to you when you applied you can print off the forms or ask them to mail them to you. IIRC you have 28 days from the day of application online to send in your application form and cheque for the initial balance. If you do not complete this in 28 days your account it closed, if you do then your account will stand with the rates you agreed to when you opened it. Until you do so the account still appears on the internet banking section but all of the features aren't available.

I rang up the helpline number with reference to transfering my opening balance by BACS from an account with another bank and was told this wasn't possible as the account isn't fully functional. You can transfer from another account with Leeds Building Society, otherwise it must be by cheque.

At the moment I have printed off the application form, completed a cheque to fund my opening balance and a HMRC R85 form to receive gross interest, all to be sent tomorrow by first class post. I will try to keep you all up to date on the progress of my application as a reference to others who are part way through the process.

I hope this is of some help to others.

ETA:

I guess I had missed the bit about not being able to add funds after it was closed, I had read this in the terms and conditions but I didn't realised that it meant when the account was withdrawn with regard to new applicants, I (perhaps foolishly) assumed it meant if my account with them was closed (due to suspected fraud etc.) I wouldn't be able to add any additional funds. I will give LBS a call to clarify this issue and post their response as soon as I can

AndyAndyAndy

Update:

This morning I called Leeds Building Society on the geographical number given in their terms and conditions 0113 225 77 77 . The advisor I spoke to told me that anyone who has the account profile on their 'my accounts' section of the internet banking can at the moment still add funds to the account and this would continue to be the case until the building society notify you to let you know otherwise. I then asked if there was any indication how long this would last for; days, weeks, months etc. but he was unable to answer only reiterate that when the account is closed to new deposits I will be notified.