New Fixed Term Deposit Accounts from Yorkshire Bank

MoneySavingUser

I guess I'll try that number too then - thanks

SallySunshine

Just rang 0800 0283632, waited about 5 mins and then gave my ref. no. I was given when trying to print off my application.

They are going to send me a copy of my completed form to sign and to enclose my cheque.

Hopefully then all will be well:T

However now I've seen another post on the Cheltenham and Gloucester 3 yr stepped bond, I may reconsider.

Decisions, decisions!!!!

Adjer

My wife decided to take out a 5yr bond with Yorkshire yesterday by calling in at the local branch complete with utility bill. passport & cheque. After a long wait at the customer service desk she was told there was no one available who was qualified to process her application & they could only offer an apology & an appointment with an advisor for a date two weeks ahead. They said they were overwhelmed by the amount of business & did not have the staff to cope with the demand. The counter staff were just chatting away while waiting for customers. Are banks keeping the old rule going, "one man one job"?
Later we went on line using Firefox & did it eventually, after a struggle with the bank web site. I think this site has very poor design & not easy to navigate through.

SallySunshine

I got a reply from the e-mail I sent on Thursday evening.

They apologised for the problems I'd had and asked if I had a ref. no, if so, I was to forward it to them and they'd send it on to the Term Deposit Team.

I was rather miffed as I had stated I'd received my ref. no., anyway I replied saying it was now sorted thanks to a phone call.

Following my other remark about the C&G 3yr stepped bond, I'm out as the 3yr Yorkshire/Clydesdale deal would be better.

Plus my nearest C&G branch is over 70miles away, plus they don't open on a Saturday, (seriously weird) So, it would mean phoning on an 0845 no. then waiting for the application pack to be sent.
Far too much hassle as probably they would then need to have identity verification sent. Noooooooooo.

Still mulling over the 3 yr offer, but would it print?????. My O.H. used Firefox so I could be in with a chance, or not!

Ifts

After posting my application to Yorkshire Bank on the 19th Nov, I got my Deposit Confirmation Certificate in the post today (6th Dec).
Date of deposit on the certificate is the 23rd Nov, cheque was not cashed till the 29th Nov. Probably the quickest Ive ever had a fixed term deposit set up (within 3 working days).

SallySunshine

Rang up Saturday, told I would be sent out my completed application form to sign, still waiting:(

Rang up again today, was told it can take 3 working days, so in theory it should be here tomorrow.

Told them I wasn't very happy with this delay/problem printing and mentioned that I may try another application with another browser.

Actually I wasn't kidding, I might try this by putting my O.H. name first on the joint application form and after reading the gloomy forecast today might go for their 3yr bond instead of the original 2yr one.

The ironic thing is I wanted to keep well away from bonds etc maturing around Xmas time as it's a pain then trying to get new accounts set up, post delayed, hols etc. However, with the way this one's going it'll probably mature on Xmas Eve:mad:

Geoffo_M

caveat_emptor wrote: »

That's fine if the form prints. Mine disappeared when I clicked the PRINT tab and was never seen again. I got a message saying that my application was in progress. Am still waiting for the form.
I find their website very flaky as it tells me that my two browsers (IE & Firefox are not supported.:rotfl:

I had the same result, (using FF), ended up just giving an error number to quote. Phoned them up & they said that's always happening where the form wouldn't print (all-round unimpressive application system really), they said they would put one in the post, waited 4 days nothing, just phoned again today, usual long wait, they said to wait another couple of day & ring again if I hadn't received it. All very amateurish but quite a good rate so sticking with it for now

Rhymsta

Still confused about the way the interest rates are quoted...

Earlier in this thread someone said that interest could be added to the account each year but I wasn't given that option.

It'si the 5 years Capitalisation at Maturity which confuses me because it says the rate is 5.16% Gross, 4.70% AER and 4.13% NET.

Others have said that this is misleading but I can't find an explanation of the maths.


PS: Re opening the account: I had to wait 30 minutes to see an adviser amd then it took just over an hour to get the account set up. I had to set up a current account (which I will never use) so that the interest can be paid into it. There is no option for paperless operation so I can look forward to receiving lots of blank statements.

Imnoexpert_2

Isn't it scary that we will trust our precious cash to an organisation which can't get a form to print over the internet!

This must be costing them millions!

Ifts

Rhymsta wrote: »

Still confused about the way the interest rates are quoted...
It'si the 5 years Capitalisation at Maturity which confuses me because it says the rate is 5.16% Gross, 4.70% AER and 4.13% NET.
Others have said that this is misleading but I can't find an explanation of the maths.

o4u has answered the above for you in the other thread that you posted the same question: http://forums.moneysavingexpert.com/showpost.php?p=49141485&postcount=4

Earlier in this thread someone said that interest could be added to the account each year but I wasn't given that option.

The option to have the interest added to the account was and still is available if you select the right fixed term deposit account (have to admit it is confusing).
I went for the option of having the interest added each year, I selected this one: 24, 36 & 60 month Term Deposits – Interest Capitalised Annually option, where the 'interest is capitalised annually and repaid at maturity'.

PS: Re opening the account: I had to wait 30 minutes to see an adviser amd then it took just over an hour to get the account set up. I had to set up a current account (which I will never use) so that the interest can be paid into it. There is no option for paperless operation so I can look forward to receiving lots of blank statements.

Maybe there was a misunderstanding between you and the adviser (unless he just wanted you to open up their current account while you where there), if you asked for the interest to be paid each year to you (rather than added/capitalised to the account each year), then thats why they got you to open their current account so that interest can be paid out to that account. Yorkshire Bank would not accept any other linked account to receive monthly or annual interest to be paid out to, you have to open another account with them to get your monthly or annual interest to be paid out to.