Yorkshire Building Society - Local Saver

GreenBitterfly

ctdctd wrote: »

Just phoned head office on 01274 353228 - they are sending out the application form to me. I'm already a customer.

Minimum deposit is £10, max £6000
No withdrawals but I'll double check that when I get the paperwork

Thanks for clarifying!

alanq wrote: »

The OP agrees with xylophone but ...



In the page that I linked to above it says "Minimum investment amount of £100".

"All of our products are simple, transparent..." ?

I am the OP, but the fact sheet contradicted what was on the website provided, which is why I asked if anyone knew what the minimum investment was.

xylophone

No withdrawals but I'll double check that when I get the paperwork

If for any reason you require access to your money during the term, you are allowed one withdrawal or closure with the loss of 90 days interest on the amount withdrawn. However you can replace any funds withdrawn up to the £6000 until the end of June 2013.

From official YBS paperwork.

EarthBoy

There's an advert for this account in the Yorkshire edition of the Metro (free newspaper) this morning, page 44. I don't know if it's in other editions as well.

The ad confirms the minimum amount is £10.

The website link quoted previously does mention £100 in the body of the text, but the moving ad at the top of the website says £10.

ctdctd

Useless bunch :mad:

Phoned head office Tuesday to open. Took details and they said would post and also I would be called by local branch (Hampstead, 30 miles away).

Got called by Hampstead AM today. They had not heard of account but tried to sell me insurance.
Details arrived in the post an hour after they called.

I got a product flyer single sheet, a general terms booklet, and a glossy bumf booklet full of self congratulations and motto's such as "Down to Earth", "Built on trust", and "Our service comes highly rated".

No application form but the letter says contact my "Local Team" which is Hampstead 30 miles away who have not heard of the product!!

xylophone

Ring Head Office again- mention that the branch have no application forms/product details so that these can be faxed to the branch - make sure that they have been received before making an appointment to go in and sign up?

ctdctd

xylophone wrote: »

Ring Head Office again- mention that the branch have no application forms/product details so that these can be faxed to the branch - make sure that they have been received before making an appointment to go in and sign up?

Have spoken to them just now - they are saying only a limited number of branches offer the account. They have wandered off to speak to supervisors and suchlike and will call me back.

It's not worth me opening if it needs a branch visit to open and operate - even if the branch knew about it. It would be fine by post.

They need to train their call centre staff before they offer products.

From the website
All of our products are simple, transparent and come with no nasty surprises
Humph - except for those they try and hide for the locals to use!

Update - yep, can only be opened in branch so not worth the bother for an extra £40 pa over the best instant access accounts unless you are local.

Reminds me of The League of Gentlemen and the shop in Royston Vasey:-
"This is a local shop for local people. There's nothing for you here."

totallybored

I rang up yesterday to try to get an application form sent. They can't do that and it must be opened in branch. It seems that it is only branches in Yorkshire as those in the north east weren't on their list of branches offering the account.

The website really does need to be more transparent.

alanq

Any benefit that YBS gets from impressing Yorkshire folk will I suspect be more than offset by the bad feeling stirred with members who reside outside Yorkshire. I certainly feel less inclined to deposit future savings with YBS than before this came to light.

I don't suppose that we will see anything just for London residents under YBS's Chelsea BS brand!

GreenBitterfly

Given that it only seems to have in-branch advertising of this account at the minute, I doubt most people will know about it.

thor

alanq wrote: »

Any benefit that YBS gets from impressing Yorkshire folk will I suspect be more than offset by the bad feeling stirred with members who reside outside Yorkshire. I certainly feel less inclined to deposit future savings with YBS than before this came to light.

I don't suppose that we will see anything just for London residents under YBS's Chelsea BS brand!

Well it's about time that I have managed to benefit from these 'locals' only type of accounts. I have seen a whole bunch of accounts from institutions which I have been disqualified from due to living in Yorkshire. Finally got one in my favour.