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Yorkshire BS Regular Saver c2008 vintage slashed
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Santander is offering Regular Savers 5% on £200 a month if you have a Santander 123 account or are a Select customer. The rate otherwise is 2.5% but you will need to open a free Santander current account too. Much better than Yorkshire Building Society's 1.5% offer to the loyal customers with Regular Savers about to be closed or their "hidden" 1.75% regular saver account they failed to mention in the closure letters. HSBC also offer 5% on regular savers to their customers.
For those £20,000 balances in the closed Regular Saver accounts, head over to MoneyFacts' website to see deals of varying lengths offering up to 2.45% with a variety of FSCS institutions. Some of the bonds allow withdrawals with interest penalties. You can easily beat Yorkshire Building Society's 1.5% offer and the subsequent pitiful 0.6% they plan to impose in a year's time that amounts to nothing more than daylight robbery.0 -
The last day for this account before it becomes the Single Access Saver Unique Edition paying 1.75% interest for 12m. Only one withdrawal allowed plus one more if account is closed.
Not a bad rate of interest now with very few other providers passing on the BOE .25% rise.
Has anyone found any better options for their funds?0 -
Thanks for pointing out that they had added the .25% - I hadn't realised, and it makes it a pretty good rate.
As a few others have already said, it's not really fair to give YBS a hard time over this change. They are obliged to give as good a deal as possible for ~all~ their customers, and the RegSaver was giving an excellent deal to just a few. So although I'm a loser from the change I fully support their reasons for doing it.0 -
Yorkshire_Pud wrote: »The last day for this account before it becomes the Single Access Saver Unique Edition paying 1.75% interest for 12m. Only one withdrawal allowed plus one more if account is closed.
Not a bad rate of interest now with very few other providers passing on the BOE .25% rise.
Has anyone found any better options for their funds?
I've already withdrawn most of the money from this account and was intending to close it. I would probably not have withdrawn the money had I known it was going to go up to 1.75%
My money is now in an ISA earning 1.35%. I have filled other higher earning accounts, except my Santander 1.5%, but I will be paying some tax on my savings this year so I wanted to reduce that amount.
I will be opening new virgin regular savers as they appear in the new year, currently 2.25%
frogletinaNot Rachmaninov
But Nyman
The heart asks for pleasure first
SPC 8 £1567.31 SPC 9 £1014.64 SPC 10 # £1164.13 SPC 11 £1598.15 SPC 12 # £994.67 SPC 13 £962.54 SPC 14 £1154.79 SPC15 £715.38 SPC16 £1071.81⭐⭐⭐⭐⭐⭐⭐⭐⭐Declutter thread - ⭐⭐🏅0 -
One possibly important thing to remember is that the new account has a MINIMUM balance of £100 whereas the existing reg saver is/was £10 so for those who reduced their balance whilst waiting for the new account maybe a top up is in order!? But NOT TODAY if you already paid in £500 this month and then withdrew the funds to below £100 or it might count as more than £500 being paid in under the reg saver conditions (but see my later note re overpayment). But first thing tomorrow 14th December!
I might have shafted myself as although I had kept £100 in the account I transferred £100 yesterday so I've paid in £600 this month:o
Just checked their website and it appears they just send back any overpayment in the form of a cheque so I should be OK. I withdrew the overpayment anyway which I am allowed to do under the transitional T&C in place.
If they close the account at the eleventh hour I will wonder if they are trying to get rid of reg saver account holders, and then I will complain and ask compensation and reinstatement of the account (or just go elsewhere:))0 -
my reg saver has disappeared with no sign of new account. Anyone seeing the new account ?0
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On 1st December I added £500 to my account, having only left £10 in there. Interest was added the next day (62p) and I withdrew £500.62 on 5th December.
Today, my account shows £10, plus interest of £6.68, which I certainly was not expecting. Surely this is an error.
Does anyone have a link to the terms and conditions for the single access saver unique edition as I cannot find my paperwork on this and cannot find details online?
I've also noticed that the regular saver is now showing an interest rate of 2% - as this is a variable rate I may open this although annoyingly this cannot be opened online.
frogletinaNot Rachmaninov
But Nyman
The heart asks for pleasure first
SPC 8 £1567.31 SPC 9 £1014.64 SPC 10 # £1164.13 SPC 11 £1598.15 SPC 12 # £994.67 SPC 13 £962.54 SPC 14 £1154.79 SPC15 £715.38 SPC16 £1071.81⭐⭐⭐⭐⭐⭐⭐⭐⭐Declutter thread - ⭐⭐🏅0 -
Frogletina wrote: »On 1st December I added £500 to my account, having only left £10 in there. Interest was added the next day (62p) and I withdrew £500.62 on 5th December.
Today, my account shows £10, plus interest of £6.68, which I certainly was not expecting. Surely this is an error.
Does anyone have a link to the terms and conditions for the single access saver unique edition as I cannot find my paperwork on this and cannot find details online?
I've also noticed that the regular saver is now showing an interest rate of 2% - as this is a variable rate I may open this although annoyingly this cannot be opened online.
frogletina
I also got a payment shown as Interest of £4.92. It was paid to my other YBS account where the account interest without bonus was always paid. Therefore I'm 100% sure, after a bit of thinking, that this interest payment is the 0.05% interest whereas the Bonus was paid in advance and monthly since October. So it can't be a mistake!:T0 -
Yorkshire_Pud wrote: »I also got a payment shown as Interest of £4.92. It was paid to my other YBS account where the account interest without bonus was always paid. Therefore I'm 100% sure, after a bit of thinking, that this interest payment is the 0.05% interest whereas the Bonus was paid in advance and monthly since October. So it can't be a mistake!:T
I got £15.04 in interest added - I only added £10 in November and December so I don't know how much more interest I would have got for the last 6 weeks ...
But at least everything is showing as correct now at 1.75%. My other newer YBS regular saver is showing as 2%“Create all the happiness you are able to create; remove all the misery you are able to remove. Every day will allow you, --will invite you to add something to the pleasure of others, --or to diminish something of their pains.”0
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