Yorkshire & Clydesdale Banks offering £150 for switching

colsten

Zanderman wrote: »

So, all-in-all, yes, a joke bank. No-one seems to be able to do anything correctly, or in a reasonable time-frame.

The good news is that the phone banking works, and a test payment-in arrived within minutes via Fast Payment from the Coop

I don't understand why you would pay money into a bank that is as bad as you describe it to be.

For what it's worth, I have had a YB Current Direct account for over a year. It took a long time opening it, and I am not particularly fond of their online banking but they have been paying me decent interest on £3K for some time now. They also let me switch under the current £150 offer so they look like really good value for money to me.

Don't bite the hand that feeds you.

anoncol

colsten wrote: »

I don't understand why you would pay money into a bank that is as bad as you describe it to be.

For what it's worth, I have had a YB Current Direct account for over a year. It took a long time opening it, and I am not particularly fond of their online banking but they have been paying me decent interest on £3K for some time now. They also let me switch under the current £150 offer so they look like really good value for money to me.

Don't bite the hand that feeds you.

You are kidding right? The service is terrible. I also note can't get my money out until they post me a token it a week. They are useless. I won't be staying once I get my £150.

starM

My Experience with YB.

• Slow account opening - Allot of paperwork to complee and sign.
• Received account opening confirmation - Card and pin number arrived within 5 working days
• Internet banking registration was straightforward once I received my debit card. Enrolled online - received activation sms - Logged in
• Mobile Banking - straightforward - Only needed customer number and 4 digit telephone banking pin - All worked fine
• Fatserpayment works fine - Made a small transfer to my Halifax account - Received in seconds - Do not need token for all FP transaction - I think its used for transaction above £300.
• Contact centre staff - Very polite - not had any problems with them

Apart from slow account opening. The account is fine. In this day and age they should have made online application with electronic id verification and immediate account opening. That would have sorted out allot of complaints.

MS

YorkshireBoy

anoncol wrote: »

I also note can't get my money out until they post me a token it a week.

To be fair, you knew about the security token, and the limits with and without it, before you applied...or should have known if you'd read the account details which are freely available on their website. That said, you can in fact get your money out in several ways, and all of them quicker than a week:

£300 per day via online banking without the token
£350 per day if you got a Maestro card
£500 per day if you got a MasterCard debit card

And if you haven't got your card, or online banking fully set up yet, why did you part with cash you needed?

I won't be staying once I get my £150.

This line from posters on here always makes me smile. You're saying if the service hadn't been terrible, they had let you take out your £1K as soon as you'd deposited it, and they'd been quicker off the mark, you'd have stayed with them? No you wouldn't!...unless you'd gone for the 2% account (because you were full up elsewhere). But having gone through all the grief(!) you'd then cut your nose off to spite your face and put the £3K you'd intended to make 2% AER on in a 1.4% AER savings account instead...just to show 'em who's boss!

We're (virtually) all in this for one reason and one reason only...to fleece what we can from the banks by reading, understanding, and then exploiting the respective T&Cs. Sometimes things don't go as smoothly as we'd like, and we (or rather some of us) have to learn some coping strategies for such occasions.

trickydicky14

Nicely put YorkshireBoy !!!!

Zanderman

Zanderman wrote: »

So, all-in-all, yes, a joke bank. No-one seems to be able to do anything correctly, or in a reasonable time-frame.

The good news is that the phone banking works, and a test payment-in arrived within minutes via Fast Payment from the Coop.

colsten wrote: »

I don't understand why you would pay money into a bank that is as bad as you describe it to be.

Er, because of the switching incentive?? I thought that was obvious!

The test payment I mentioned was under £2. I'm not, at present, planning to use the account as a main account.

Now if, as some suggest, the bank is actually ok once the account is open, I might stay. But the account opening and switching process is completely inadequate and the staff responses I experienced today were frankly worrying. And at present it's those processes and responses that I'm judging them by.

bolzano

...they then told me I'd get my 10 digit customer number in a few days. When I pointed out I already had that they seemed very surprised - even to the point of disputing it and asking me to confirm the last few digits! But it's the first piece of info on the customer mandate document...

Note that the customer number on the mandate document is not actually the customer number you need for signing up to online banking etc. I received a different customer number with the account opening confirmation. It did have the same last digits, but it had more digits at the beginning.

anoncol

bolzano wrote: »

Note that the customer number on the mandate document is not actually the customer number you need for signing up to online banking etc. I received a different customer number with the account opening confirmation. It did have the same last digits, but it had more digits at the beginning.

Yep. You only need your debit card to register and get into online banking. Only £300 can be withdrawn though without this token, poss per day.

bolzano

anoncol wrote: »

Only £300 can be withdrawn though without this token, poss per day.

It's £300 per transaction, £1000 per day. (Hence you can get the £1000 deposit out without the token. You just have to use multiple transactions.)

Hooloovoo

My switch has been completed. It's 8 days since I applied, which is as expected - seven day switch, then the next day.

My security token also arrived yesterday. I've got my debit card but no PIN yet.

So overall it's been pretty quick. It's just the appalling account opening procedure that's bad.

It sounds like those of you applying on the phone are having a much worse time.