Regular savings account

Rose_Crow

Am I right in thinking that you can only open a regular saver account by post? Couldn't find anything on the website.

TomsMom

grn.w.nv wrote: »

Am I right in thinking that you can only open a regular saver account by post? Couldn't find anything on the website.

You can do it in the branch too. That's how I opened mine. Once it's open, if you are nowhere near the branch you can do BACS transfers then have your passbook made up any time you're near the branch. And now I've found out, thanks to Steady Eddie, that you can register for online banking but only to check your balance as far as this account is concerned.

Rose_Crow

Thanks TomsMom, thought I'd missed something when I couldn't see it on the website. I requested a leaflet yesterday which arrived this morning, so will get that sent off when I get paid. Can't think of any branches near me, not that that matters as I'll just set up a DD and forget about it

steady__eddie

"Can't think of any branches near me"

According to their glossy, there are 3 baranches in Kent. Bexleyheath, Canterbury and Chatham.

Milarky

grn.w.nv wrote: »

Am I right in thinking that you can only open a regular saver account by post? Couldn't find anything on the website.

Branch 'Agencies' too, if that broadens it out and helps at all

Rose_Crow

Thanks guys, I'll pop into the Bexleyheath branch to sort out the passbook (if that is required), then manage it by post / standing order.

sav4it

I've just opened one of these YBS RS accounts. I've no intention of making any withdrawals to get the bonus rate but this made me think about when to close the account.
I asked the person in branch and if I hypothetically wished to close in month 15 say, 7.1% would be payable on 12 months and lower rate for the last three months.
If this is true ( I don't always believe everything branch staff tell me), then the best time to close the account is on any anniversary of account opening.
Do people here think what I was told was correct even if consecutive payments are made and no withdrawals up to closure?

RayWolfe

What you have been told is correct. The best time to close is the anniversary. However if you need the cash after 15 months, withdraw most (not all) and keep up the minimum payments. Then you will get the higher rate of interest.

sav4it

Good thinking,Ray. I'll bear that in mind if I ever need the funds in a hurry.