The Top Easy Access Savings Discussion Area

ForumUser7

ForumUser7 said:

Regarding YBS:

- 2093 issue - I have contacted them and sent in a screenshot, and they will get the IT team to look into it
- Regarding interest - they said they calculate and pro-rata it. If I made a deposit between now and 31st March, additional interest is calculated and paid on the next interest date next year. If I made a withdrawal between now and 31st March, interest penalty is calculated and deducted on the next interest date next year. They believe if this would result in negative interest (I.e. none new earned - penalty), nothing happens

For those of you who were curious, Yorkshire Building Society has confirmed that the 2093 bug was due to the clocks going forward. I'm not sure how that didn't cross my mind at the time, but regardless, it's been fixed now. Wonder if it'll happen next time!

ChewyyBacca

SickGroove said:

ChewyyBacca said:

SickGroove said:

ChewyyBacca said:

I transferred funds from Starling to Chip (through Clearbank) yesterday before 5 pm. The funds have not landed in Chip yet.
Chip's chat is useless, 4 hours on it & still no response. I emailed Chip 4 hours back
Spoke to Starling, and they have confirmed they have released the funds.
Any suggestions, on how do I track down my money?

Did you do it through the Chip app using your linked Starling account or directly through Starling account to Chip using faster payments?

If done the latter way, that's the problem...

Starling to Chip using Faster Payments

It shouldnt be a problem ideally
It shouldnt make any difference if its a Pull transaction - Through Chip from Starling
or a Push transaction - From Starling to Chip

Or does it make a difference? 
People with Open Banking knowledge, please chime in

Yeah, it makes a difference, as I did the same thing last week...chip app was down so assumed going through Starling to Chip using faster payments would be OK...it wasn't.

You should ALWAYS only add any deposit through the Chip app as it's instant that way....

It was Easter holiday when I sent mine so it was a world of pain & I thought I'd somehow lost 5K!

They eventually credited it to my Chip account on Tuesday this week. 

I now know never to send via linked bank to Chip ALWAYS use the Chip app. I've done a few small transfers through the Chip app since just to make sure it's instant & it is....

You'll either get your money returned or applied to your chip balance but being the weekend probably won't be till during Monday now.

Money never reached Chip
Starling Bank got credited with funds as ''Chip BTL Return''

Its astounding! I had 3 prior credits in Chip using the same way, Faster payments to chip

Bridlington1

ForumUser7 said:

ForumUser7 said:

Regarding YBS:

- 2093 issue - I have contacted them and sent in a screenshot, and they will get the IT team to look into it
- Regarding interest - they said they calculate and pro-rata it. If I made a deposit between now and 31st March, additional interest is calculated and paid on the next interest date next year. If I made a withdrawal between now and 31st March, interest penalty is calculated and deducted on the next interest date next year. They believe if this would result in negative interest (I.e. none new earned - penalty), nothing happens

For those of you who were curious, Yorkshire Building Society has confirmed that the 2093 bug was due to the clocks going forward. I'm not sure how that didn't cross my mind at the time, but regardless, it's been fixed now. Wonder if it'll happen next time!

I rather enjoyed doing a spot of time travelling.

Oh well if there's going to be a similar bug when the clocks go back then get set to travel back to 1953 in October. 

ChewyyBacca

@soulsaver
Cynergy Bank Online Easy Access Account (Issue 59) 3.36%

ChewyyBacca

flobbalobbalob said:

Charter easy access accounts issue 29 and earlier up to 3.5% AER from 18th April. Later accounts up but lag behind.

https://www.chartersavingsbank.co.uk/Help/InterestRateSummary

IMP to note that 
Charter easy access Issue 36 product has a tiered interest rate
balance of £1-4999 = 0.1%
balance of £5000 onwards = 3.35%

I wonder who does not want to earn interest on the first 5K

Band7

ChewyyBacca said:

flobbalobbalob said:

Charter easy access accounts issue 29 and earlier up to 3.5% AER from 18th April. Later accounts up but lag behind.

https://www.chartersavingsbank.co.uk/Help/InterestRateSummary

IMP to note that 
Charter easy access Issue 36 product has a tiered interest rate
balance of £1-4999 = 0.1%
balance of £5000 onwards = 3.35%

I wonder who does not want to earn interest on the first 5K

provided your balance is at least £5k, you earn 3.35% on your entire balance

ForumUser7

Does anyone have a factsheet of the Yorkshire Building Society Loyalty Six Access e-Saver that was available to open in September 2022 please? Currently paying 3.75%. If so, please could someone upload screenshots of their factsheet here, as it's been misplaced. Thank you

Bridlington1

ForumUser7 said:

Does anyone have a factsheet of the Yorkshire Building Society Loyalty Six Access e-Saver that was available to open in September 2022 please? Currently paying 3.75%. If so, please could someone upload screenshots of their factsheet here, as it's been misplaced. Thank you

It's still on their website albeit with a previous interest rate. See:

 https://www.ybs.co.uk/documents/productdata/Factsheet-YB951617W.pdf

Steve_xx

Summary Box

Account name Loyalty Six Access eSaver

What is the interest rate?

This account pays a variable** rate of interest of:

Annual

Gross† p.a. AER*

2.50% 2.50%

Whether you need to pay tax is dependent on your own personal circumstances and so may be subject to change in the future.

† Interest is paid gross i.e. without tax being taken off on all our savings accounts - ISA accounts pay interest tax-free.

* AER stands for the Annual Equivalent Rate and shows you what the interest rate would be if interest was paid and added each year. This will enable you to compare more easily the return you can expect from your savings over time.

** Variable rate of interest means that the interest rate payable on your account can change and can move both up and down.

Payment of interest

Interest is calculated daily on cleared balances Annual interest is paid on the anniversary of account opening, so if you opened your account on 14 June, interest would be paid on 13 June the following year. It can be paid into the Loyalty Six Access eSaver, another Yorkshire Building Society account or another building society or bank account.

Can Yorkshire Building Society change the interest rate?

Yes. We may change the interest rate for particular reasons, detailed in our General Terms & Conditions. We will notify you in advance of any changes.

What would be the estimated balance after 12 months based on a £1,000 deposit?

After 12 months your balance would be £1,025.00.

We have worked this out assuming a £1,000 deposit is made on account opening, no further deposits or withdrawals are made throughout the 12 months, the interest earned is added to the account and no changes made to the current interest rate.

This projection is provided for illustrative purposes only and does not take into account your individual circumstances.

How do I open and manage my account?

Eligibility

You have to be at least 16 years old and a UK resident to open the account. The account can be held on your own or jointly with someone else. The Loyalty Six Access eSaver cannot be opened in trust. To be eligible to open a Loyalty Six Access eSaver you must have had an open account (Savings or Mortgage) with Yorkshire Building Society as either Main Holder, Other holder or Trustee for at least the 12 consecutive months prior to applying and already be registered for online access. Attorneys on an existing account or beneficiaries on an account held in trust, and customers of Chelsea Building Society, N&P and SharePlans will not be eligible to open a Loyalty Six Access eSaver. Eligible customers of Chelsea Building Society, N&P and SharePlans can open the branch based Loyalty Six Access Saver Issue 2 as an alternative. You can only hold one Loyalty Six Access eSaver or Loyalty Six Access Saver Issue 2 in your name. For joint accounts you can only be the Main Holder on one account but can be Other Holder on the second account. If you are named as Main Holder on more than one Loyalty Six Access eSaver account, the most recent account opened will be closed and the funds returned to you. If you have closed your account with us within the last 12 months and transferred the money to a new account, unfortunately you cannot apply for the Loyalty Six Access eSaver. Please apply to your nearest branch or by post for the alternative product, the Loyalty Six Access Saver Issue 2.

Account opening and management

Accounts can be opened with a minimum of £1 online at ybs.co.uk.

The account can be managed online. You will be able to check your balance, interest rate, make and view transactions on your account online whenever you wish.

The maximum balance is £500,000.

Account switching

If you are an existing online customer and have an easy access account that allows closures at any time and you wish to transfer your account to this one, you will need to go online to open the new account and close your existing account and then transfer your balance across to the new account.

Can I withdraw money?

The Loyalty Six Access eSaver account allows you withdrawals from your account, without losing any interest, on any 6 days per year based on the anniversary of the account opening date. Withdrawals are instant and subject to daily withdrawal limits. You may also close your account at any time even if you have used your withdrawal days.

For security reasons, online withdrawals are not available for the first 14 days after your account has been opened. After 14 days withdrawals can be made from your account at any time on condition that there are sufficient cleared funds in your account and that you maintain the minimum balance of £1.

Maturity

On the first anniversary of your account opening, your savings will be transferred into an easy access account and you will have easy access to your funds. We will send to you the full details of the new product via email, at least 14 days prior to the maturity of this Loyalty Six Access eSaver.

Additional information

We will advise you of the forthcoming product maturity, and generally communicate with you via email. It is very important that you notify us if your email address changes.

You can change your contact details (postal address, email and telephone) when you are logged in. To change your name you will need to write, enclosing proof of the change, to General Servicing, Yorkshire Building Society, Yorkshire House, Bradford, West Yorkshire, BD5 8LJ.

How to apply

Before you apply

Please read the Product Terms together with our General Terms and Conditions (259 KB) and the FSCS Information Sheet (528 KB) before you apply.

Please also refer to our Charges and Fees (90 KB) leaflet for details of any charges on our savings accounts.

When you apply for this account with us, you'll need to verify your identity and address.

ForumUser7

That's great, thanks to both of you