Principality Building Society launch 6.75% Regular Savings Account

djblamire

Anyone else had a problem opening an account with this building society ??

Daniel

Hobo_2

I had no problem, but i do live in wales, the T&C for this account do not mention any restrictions of that nature

Stonk

I tried to open an a/c. with them some time ago but because I was ENGLISH, I was not allowed to. I queried it with the C.R.E. on the grounds of racial discrimination ...

To be fair, there is no racial element to the policy. They didn't reject your application because you were English. Rather, they rejected it because you live in England. A Welsh person living in England would have been rejected too; and an English person living in Wales would have been accepted.

Most UK accounts are open to UK residents only. This is no different.

deefadog

If the Halifax is 7% gross, hoe do you work out the net (after tax percentage rate) is it just a matter of subtracting 20% from 7 which gives you 6.5%?

bernardh_2

7.0% less 20% tax is 5.6%. Poss a typo error?

deefadog

Not a typo I think i am doing it wrong! I just put in 7.0 - 20% and it gaives me 6.5.

How do you work it out?

Thanks

bernardh_2

20% is a fifth and one fifth of 7 is 1.4 leaving 5.6 - unless I am misunderstanding something.
If I do (7.0 - 20%) on my calculator it gives the answer -65.
That I really don`t understand.

mary

Before I posted my application off today, I rang to check with them, and it is open to anyone, whether English or living in England.

deepti_2

Does anyone know if we have to send original documents(passport, driver's licence)if applying by post? Or can we send certified copies?
Please help.

Thanks in advance.

Kazza242

There is absolutely no way I'm going to send them my passport or full driving licence. Can you imagine the hassle it would cause you if they lost them :eek:.

After checking the Principality website, it does say they will accept a recent Inland Revenue Notice of Tax Coding statement. I've recently received one of those (and so should you being the month of May), so I intend to send that and a recent and original bank (current account) statement. Here is the information from the Principality BS 'Identification - What we need from you' webpage.

To confirm a name we will accept one item for each applicant from the list below:

a valid and signed current full UK/EU passport

a current signed full UK driving licence (but not a provisional licence)*

a current full UK/EU photocard driving licence (but not a provisional licence)*

a current State Pension or Benefits book or original notification letter from the Benefits Agency confirming the right to benefits*

a blue Disabled Driver's pass

a current firearms certificate

for prospective customers under the age of 16 applying for a savings account, an original birth certificate is accepted (however, a full UK passport is preferred)

a tax exemption certificate bearing a photograph of the holder (Forms C1S4, C1S4(P), C1S4(T), C1S5 or C1S6) for those who are self-employed in the construction industry

a recent original Inland Revenue tax notification e.g. Statement of Account, Tax Assessment or Notice of Coding. (Note: Forms P45 and P60 are not official Inland Revenue documents and therefore are not acceptable)*

an EU member state ID card

Note: any item marked * can be used to evidence name or address but not both.

To confirm an address we will accept one item for each applicant from the list below:

a utility bill less than three months old (gas, water, electricity, telephone but not mobile telephone)

a local authority tax bill for the current year

Original bank, building society or credit union statement (dated within the last three months; joint statements are acceptable)

original mortgage statement from a recognised lender (dated within the last 12 months)

a typed or printed original letter from any Government Department relating to the personal affairs of the customer

a local authority/housing association rent card or tenancy agreement

a solicitor's letter confirming completion of house purchase or land registration together with proof of previous address

Here is the link to the Principality BS 'Identification - What we need from you' page.