Opening YBS Regular Saver

The_Fiddler_2

If I were to open a YBS e-saver first, do I still need to go into a branch to open their £500 regular saver?

Kazza242

The_Fiddler wrote: »

If I were to open a YBS e-saver first, do I still need to go into a branch to open their £500 regular saver?

No, the YBS regular saver can be opened by post also. Also, you don't have to open their esaver to open the regular saver by post.

The_Fiddler_2

Kazza242 wrote: »

No, the YBS regular saver can be opened by post also. Also, you don't have to open their esaver to open the regular saver by post.

Thanks :beer:

I realise you don't need the e-saver or any other account, but I was just thinking if I was electronically verified for the e-saver then I wouldn't need to take or send in documents to prove my identity for the regular saver, and subsequently could complete an online application for the regular saver.

Other accounts I have which have said apply at branch have let you apply online if you already have another account - I just wondered if it was the same here.

CLAPTON

or you can do it online

The_Fiddler_2

CLAPTON wrote: »

or you can do it online

That is not one of the options available if you apply for a regular saver (unless I have missed something or they have changed their application process since I last checked the site)

oldagetraveller

I requested info etc. online and they sent application form with a letter providing branch address to which the application and 1st investment (cheque in my case) were to be sent or taken.
I sent off to the branch and a couple of days later received passbook etc. through post. Further payments can be made by Standing Order if required. They sent form with details or can be set up online with your own bank if you have online banking.

The_Fiddler_2

So the account can be run online once set up, but can't be set up online, is that correct?


Thanks

YorkshireBoy

The_Fiddler wrote: »

So the account can be run online once set up, but can't be set up online, is that correct?

The online functionality is very basic. You can view your balance, transaction history, and not much else!

You cannot transfer money out of the account online.

The_Fiddler_2

I presume though you could pay in elctronically from other accounts, and am I correct in thinking you can pay different amounts each month?

How do you transfer money out the account?

TomsMom

I presume though you could pay in elctronically from other accounts, and am I correct in thinking you can pay different amounts each month?

Yes, I have a standing order set up with my A & L account for the minimum amount of £10 at the beginning of each month. As and when I have further money available I set up a manual BACS. You can make any number of deposits during any month providing you don't go above the maximum of £500.

How do you transfer money out the account?

You are only allowed one withdrawal per year otherwise you lose the bonus which makes the rate up to 7.1%. Without the bonus it's about 3.5% or similar. You can't transfer money out electronically it would have to be done at the branch or possibly by post (don't know, don't intend to take mine out unless I can find a better rate )

The_Fiddler_2

I think everyone has convinced me to open one

In a way it is good for saving because you can't access the money too easily.

Thanks for answering my questions everyone :beer: