Impressed with YBS Regular Saver

YorkshireBoy

oldfella wrote:

checking the YBS site and I can see a way to do a transfer from the internet account to the reg saver - but not a SO - what am I missing ?

YorkshireBoy wrote:

You'll have to ring them to set it up.

Apologies - it seems I was mis-informed by a YBS CSA on this. On ringing them today, I've been told (for definite!) that it is not possible to set up a SO from the Internet Saver to the Reg Saver.

You can, however, make several payments per month so I'm going to set up a SO from another account for £10 (to make sure I don't fall foul of the T&C's), and feed the other £490 manually from the Internet Saver each month.

CopperPlate_2

From what I remember, YBS raised their interest rate before the BoE rate rise so if they're a little bit slow this time around, I think they could be forgiven. At least they implemented it unlike some of the other sharks out there who either 'forgot' that there had been a rise or passed on a shaving of a percentage point to customers whilst hiking their mortgage rates by the full quarter. Anyone get the idea that the banks have p'd me off today :rolleyes:

[Deleted User]

CopperPlate wrote:

From what I remember, YBS raised their interest rate before the BoE rate rise so if they're a little bit slow this time around, I think they could be forgiven.

Last BOE rate rise 09/11/06.
Last YBS rate rise 10/12/06 (savings).

As you say, at least they did increase it (eventually).

(MPC decision due again this Thursday.)

CopperPlate_2

Yes, but I thought that they last increased their rates in August last year when there wasn't a rate rise? I'm sure they increased their savings rate out of step with the BoE. Oh well, I'll not get too fussed over it. It's still a reasonable rate.

YorkshireBoy

CopperPlate wrote:

Yes, but I thought that they last increased their rates in August last year when there wasn't a rate rise? I'm sure they increased their savings rate out of step with the BoE.

From memory, they'd planned a rate increase for August, but before the August BOE rise (did it catch them out, were they short of funds, or did they simply realise there were many accounts paying a better rate?), from 4.70% to 4.85%.

To be fair to YBS, they still added the full 0.25% BOE increase at the end of August as well - giving a 0.40% increase in the space of a couple of weeks.