The Top Easy Access Savings Discussion Area

Wheres_My_Cashback

Bridlington1 said:

pokemaster said:

Yorkshire Building Society Loyalty Six Access eSaver 2023

5.10% Yearly

12 months minimum membership to YBS required to open

Source: MoneyFacts

Now live:
Online:
https://www.ybs.co.uk/savings/product?id=YB951757W

Branch/post:
https://www.ybs.co.uk/savings/product?id=YB881756B

There was a time not long ago when YBS loyalty accounts would actually reward loyalty with top rate busters, but unfortunately those days now seem gone and they now just follow the rest,  leaving no incentive to actually open these accounts, especially considering they don't offer immediate access to funds.

KevinG

intalex said:

Today being the monthiversary of when the Santander 5.08% Gross was released, opened and first funded by many (including me), when would Santander typically credit the interest? It's already past 7am and it hasn't appeared yet for me, and I'm wondering if it'll appear later today or tomorrow?

Wondering that too. I can't remember when interest used to be visible on the previous account. I'm sure it will be there by tomorrow.

pokemaster

I don’t know if it will be the same but on a few of the easy access account the 1% 2% ones it’s shown up next day. However the Edge saver 7% was 11.45pm on same day as opening.

jaypers

Santander - Usually interest is paid the day after the monthly anniversary. Also mention above about the 11:45pm thing on the same day…….I've also noticed direct debits going out after about 10:30pm the day before they are due, although dated correctly. I suspect that this is just the way they do their processing……not sure if it’s because they are Spanish and they operate on EST.

Nick_C

Wheres_My_Cashback said:

There was a time not long ago when YBS loyalty accounts would actually reward loyalty with top rate busters, but unfortunately those days now seem gone and they now just follow the rest,  leaving no incentive to actually open these accounts, especially considering they don't offer immediate access to funds.

They still do.  I have a Regular Saver paying 7% and an ISA paying 5.2%

jaypers

I’m actually considering opening a YBS account just to get on the ladder for future loyalty accounts. Is this a waste of time? 

Nick_C

jaypers said:

Santander - Usually interest is paid the day after the monthly anniversary. Also mention above about the 11:45pm thing on the same day…….I've also noticed direct debits going out after about 10:30pm the day before they are due, although dated correctly. I suspect that this is just the way they do their processing……not sure if it’s because they are Spanish and they operate on EST.

Why would a Spanish Bank be operating on Eastern Standard Time? 

jaypers

Nick_C said:

jaypers said:

Santander - Usually interest is paid the day after the monthly anniversary. Also mention above about the 11:45pm thing on the same day…….I've also noticed direct debits going out after about 10:30pm the day before they are due, although dated correctly. I suspect that this is just the way they do their processing……not sure if it’s because they are Spanish and they operate on EST.

Why would a Spanish Bank be operating on Eastern Standard Time? 

Good spot…..I meant UTC

Bridlington1

jaypers said:

I’m actually considering opening a YBS account just to get on the ladder for future loyalty accounts. Is this a waste of time? 

It's not a waste of time at all, last year I opened a few accounts with different building societies solely for that purpose and they're starting to become quite profitable now.

25_Years_On

pecunianonolet said:

0.03 x 365 days = £10.95 a year extra interest. Moving money takes 1 minute.

Only if you already have an account to move it to. If you have to open an account, perhaps provide ID, go through a nominated account which blocks the first time movement of thousands of pounds of money to a new payee, and you have to hang around for half an hour on hold and then talking to your bank to clear the transaction you end up below the minimum wage.