The Top Easy Access Savings Discussion Area

FishInGlass

janusdesign said:

BestSeagull said:

pearl123 said:

flobbalobbalob said

If they ever require proof of id they only accept certified copies of documents. 

Thank you. That's a bit of a pain. I think I'll give it  a miss. 

I was approved without further proof. Why don't you apply anyway; if you they do ask for more, you can abandon it at that stage, if they don't, you'll have the account and 3.4%

I agree - I opened the account on Thursday after 6pm and the opening two emails were received upon submission, and the third one (which gives full access online) arrived 30 minutes later... and I funded the account the next day with the minimum £100 (I don't think a £1 test payment is an option with them).

one thing perhaps worth noting is that they seemingly don't send any confirmation on deposits - either SMS or email.

I'm not sure why you are not getting confirmation on deposits. I have been getting almost instantaneous emails on both deposit and withdrawal. This message was received in under 2 minutes.

Dear Mr xxxx,
This is confirmation of your recent payment of £100.00 into your personal savings account.
The payment was made on 01/04/2023 22:26:36 and the transaction ID assigned by the Global Iris payment system was xxxxxxx
If you did not carry out a payment please contact us urgently on 03330 140144
Yours sincerely
Customer Services Team
The Family Building Society

Maybe you should check the email address they have for you and / or any settings.

janusdesign

FishInGlass said:

janusdesign said:

BestSeagull said:

pearl123 said:

flobbalobbalob said

If they ever require proof of id they only accept certified copies of documents. 

Thank you. That's a bit of a pain. I think I'll give it  a miss. 

I was approved without further proof. Why don't you apply anyway; if you they do ask for more, you can abandon it at that stage, if they don't, you'll have the account and 3.4%

I agree - I opened the account on Thursday after 6pm and the opening two emails were received upon submission, and the third one (which gives full access online) arrived 30 minutes later... and I funded the account the next day with the minimum £100 (I don't think a £1 test payment is an option with them).

one thing perhaps worth noting is that they seemingly don't send any confirmation on deposits - either SMS or email.

Maybe you should check the email address they have for you and / or any settings.

many thanks for this - email and mobile are definitely correct with them; I checked spam folder (and all quarantined mail) being posting and nothing in there... i've sent Family BS a secure message to check what's going on.

update - just got the following reply from Family BS...

You will received confirmations for any debit card payments or withdrawals made via the online portal. However, bank transfers that are done via your online banking app, rather than our online portal you will not receive a confirmation for.

at least that explains why my bank transfer deposit didn't generate any confirmation.

poppystar

BestSeagull said:

pearl123 said:

I note that Family Building Society is at 3.40% interest. Is the building society any good, as I'm tempted.

I've just opened this account. I like it well enough so far. I'm up and running with my online account verified for withdrawals by email so no waiting for codes by post.
Customer service seems good. 

So do withdrawals need to be made by email rather than just requesting them from the account online? I did look at the site but it didn’t seem clear exactly how withdrawal operated. 

janusdesign

poppystar said:

BestSeagull said:

pearl123 said:

I note that Family Building Society is at 3.40% interest. Is the building society any good, as I'm tempted.

I've just opened this account. I like it well enough so far. I'm up and running with my online account verified for withdrawals by email so no waiting for codes by post.
Customer service seems good. 

So do withdrawals need to be made by email rather than just requesting them from the account online? I did look at the site but it didn’t seem clear exactly how withdrawal operated. 

you can do it online as with other sites and the amount is withdrawn to your nominated account.

BestSeagull

poppystar said:

BestSeagull said:

pearl123 said:

I note that Family Building Society is at 3.40% interest. Is the building society any good, as I'm tempted.

I've just opened this account. I like it well enough so far. I'm up and running with my online account verified for withdrawals by email so no waiting for codes by post.
Customer service seems good. 

So do withdrawals need to be made by email rather than just requesting them from the account online? I did look at the site but it didn’t seem clear exactly how withdrawal operated. 

I haven't actually made a test withdrawal yet but I just looked and the functionality is what you would expect, in that you can withdraw to your nominated account or to one of your other FBS accounts via your online account.

There is this instruction though, when you go to withdraw.

"If you’d like to close your account or withdraw more than £25,000, and the terms of your account allow this, please send us a secure message. Amounts in excess of £25,000 must be split into a series of withdrawals over a number of days prior to closure of your account.. *"

BestSeagull

Again on Family BS, I've found their secure messaging system very responsive. I asked about deposit and withdrawal timings and received this reply within the hour.

"As long as your account is active and available to accept funds the timings are as follows:

If you make an online payment before 3pm on a working day it should show in your account with us by the end of the day

If you make a payment on a non working day it will appear in your account with us by the end of the following working day

If you make a withdrawal by 3pm this should show in your account by the end of that day but is guaranteed by the end of the following working day

If you make a payment after 3pm this will be processed the following working day and then the time scales are as above "

RedImp_2

I read on another site Chase are going to pay 1% interest on current account balances although I haven’t received any communication.  Not that I ever have enough in the current account for it to make a difference.

OceanSound

RedImp_2 said:

I read on another site Chase are going to pay 1% interest on current account balances although I haven’t received any communication.  Not that I ever have enough in the current account for it to make a difference.

Received an Email from Chase Servicing about 6 hours ago:

We have an update for you

You'll soon earn interest on your current account

Hi OceanSound,

We got in touch a little while ago to let you know about current account interest. The good news is that it's arriving on 24 April 2023.

It means you'll earn 1% AER interest on the money you have in your Chase current account. We'll calculate your interest daily – based on your current account balance – and we'll pay it at the beginning of the following month.

There's nothing you need to do. There are no fees from us or minimum monthly deposits to worry about, and you can pay in as much money as you like. Plus, if you have more than one current account with us, each will earn interest.

It's all part of our promise of rewarding banking to every customer. 

All the best,

The Chase team

Legal bits

1% AER (1% gross) variable on your current account balance, paid monthly. T&Cs apply.

AER is short for Annual Equivalent Rate and shows the interest rate for a year, taking into account any interest payments made during the year.

Gross is the interest rate used to calculate your monthly interest payments, before tax."

janusdesign

RedImp_2 said:

I read on another site Chase are going to pay 1% interest on current account balances although I haven’t received any communication.  Not that I ever have enough in the current account for it to make a difference.

received an email from them today...

We got in touch a little while ago to let you know about current account interest. The good news is that it's arriving on 24 April 2023.

It means you'll earn 1% AER interest on the money you have in your Chase current account. We'll calculate your interest daily – based on your current account balance – and we'll pay it at the beginning of the following month.

There's nothing you need to do. There are no fees from us or minimum monthly deposits to worry about, and you can pay in as much money as you like. Plus, if you have more than one current account with us, each will earn interest. 

It's all part of our promise of rewarding banking to every customer.

poppystar

BestSeagull said:

poppystar said:p

BestSeagull said:

pearl123 said:

I note that Family Building Society is at 3.40% interest. Is the building society any good, as I'm tempted.

I've just opened this account. I like it well enough so far. I'm up and running with my online account verified for withdrawals by email so no waiting for codes by post.
Customer service seems good. 

So do withdrawals need to be made by email rather than just requesting them from the account online? I did look at the site but it didn’t seem clear exactly how withdrawal operated. 

I haven't actually made a test withdrawal yet but I just looked and the functionality is what you would expect, in that you can withdraw to your nominated account or to one of your other FBS accounts via your online account.

There is this instruction though, when you go to withdraw.

"If you’d like to close your account or withdraw more than £25,000, and the terms of your account allow this, please send us a secure message. Amounts in excess of £25,000 must be split into a series of withdrawals over a number of days prior to closure of your account.. *"

Yes, I’d read that. I was just concerned when you said ‘verified for withdrawals by email’ that you had to send emails each time you wanted to make a withdrawal. I’m looking for an additional home for my savings but want one that is hassle free to operate - I closed a Shawbrook account because it was too much hassle to do anything!