Yorkshire Building Society - Local Saver

alanq

Looking around MoneyFacts I have just discovered that Chelsea / YBS offers a Loyalty Fixed Rate Bond at 3.70% to 31.05.2015 for members of more than 2 years standing. The comparable product for the non-loyalty product is just 3.51%. I have been a YBS member for many years and I was unaware of the loyalty product's existence. True this may be due to opting out of marketing but I assumed that any product on offer would be visible on their websites. This is not the case.

Bad show YBS for not being transparent about what products are on offer. One shouldn't have to find out about these things on comparison websites and forums or even by being let into a secret via a mailshot.

opinions4u

I have been a YBS member for many years and I was unaware of the loyalty product's existence. True this may be due to opting out of marketing

If you want them to tell you about stuff, a marketing opt-out isn't the best way to go about it ...

ScarletBea

WRabbit wrote: »

Does anyone know if the account appears in internet banking and how long it takes to appear if it does? I'd rather do a test transfer in of £1 and see it hitting before I send across the rest of the money.

No it doesn't, it's passbook only.

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I don't understand people's complaints. Banks have always had products specific to certain customers, either those that have the current account with them, or those where you pay x amount into the account every month, etc etc, and nobody complains.
Now, everyone's annoyed just because it's a local thing - and I wonder how many people would complain if it was London only... like some banks that are only open there and everyone seems to accept...

lightbulb2760

It seems that this account is not restricted to Yorkshire, as earlier posts have indicated. I've just opened one in London, at the Strand branch.

The terms and conditions supplied on account opening indicate that it is possible to fund the account by faster payment, providing that the reference is the full 10 digits of the account number, rather than the first eight.

steady__eddie

"I've just opened one in London, at the Strand branch."

Did you supply a Yorkshire address in order to open the account even though you opened it in London ?

lightbulb2760

steady__eddie wrote: »

"I've just opened one in London, at the Strand branch."

Did you supply a Yorkshire address in order to open the account even though you opened it in London ?

No, I supplied a London address.

newcastleneil

Opened mine today in branch put the whole 6 grand in
What they did tell me is that this account will be pulled by tomorrow night or the next night she wasnt too sure of the exact date but it will be getting pulled soon

bigadaj

steady__eddie wrote: »

"I've just opened one in London, at the Strand branch."

Did you supply a Yorkshire address in order to open the account even though you opened it in London ?

Just like the good old days with the cricket team eh?

GreenBitterfly

newcastleneil wrote: »

Opened mine today in branch put the whole 6 grand in
What they did tell me is that this account will be pulled by tomorrow night or the next night she wasnt too sure of the exact date but it will be getting pulled soon

It seems to have been pulled from my local branch, as the window poster has been changed. I'm glad I got in there quickly!

WRabbit

WRabbit wrote: »

Does anyone know if the account appears in internet banking and how long it takes to appear if it does? I'd rather do a test transfer in of £1 and see it hitting before I send across the rest of the money.

As a follow up to my own question I logged into my YBS account today and the Local Saver is showing online. Like an old Notice Saver account I had it shows the balance correct as of last night. You can view statements and transaction, but there's no online management as it's still a branch based account.