Yorkshire BS

dougzz

Received a letter today, 22nd July from a Sarah Jackson - Head of Customer Service at Yorkshire BS, hi-lighting a rate change from 14th July. Letter mentioned that the postal saver account interest was increasing from abysmal to useless, I have £25 in this account. No special mention of the 0.25% decrease in the interest rate on the Internet Saver account I have £15K in. So mutuals are good right, and banks evil, just a continuation of the good value products she believes YBS offer. Why BS Why?

MRMX9

On the whole YBS (and their Barnsley subsidiary) have served me well interest rate wise over the years.

They maintained my regular saver interest at 3% - but clearly cut a lot of the rates on their instant access/ISA accounts.

If you have an online account they normally email you details of rate changes about 3-4 weeks before hand. Odd therefore you only got a letter today - they ought to tell you about the cut before the date not a week after?

Thrugelmir

Perhaps you received a letter as it's a postal account. So not for the non internet user.

fwor

My personal experience of YBS is that they are better than most at trying to retain loyal customers, and resisting the temptation to cut rates on old accounts.

Given that they have to focus their attention somewhere, it seems they are trying to encourage and retain regular savers - I've had a regular saver account with them since 2007, and it is ~still~ earning 3.75%!

ManAtHome

I received an email about the online saver interest rate drop (14th July) on 11th June.

talexuser

I also had notice of the internet saver reduction weeks ago. Yorkshire remain one of the better societies, not the best possible rate, but generally a consistent good value rate over the long term without big reductions to e.g. 0.1% after a year etc etc.

dougzz

I asked previously and was told the Internet Saver was the best rate I could get, at that time the amount in the account was £30K+. They've eroded the rate, and there's no published product with a decent rate, so now they have the total of about £26 in my two accounts. I suppose I could feed £500/month into the regular saver, but that's a 2 year account paying 2%, so anyone getting 3.75% is very lucky.

ManAtHome

Might have been the best instant access account at YBS, but has been well below the best buys for the last year (at least). I moved most of my cash out last August, but kept a few quid in case they came up with a decent fixed-term account (which they haven't).

brewerdave

Took my last few hundred quid out of YBS on 13th July.