The Top Easy Access Savings Discussion Area

cymruchris

subjecttocontract said:

Isn't that a bit discriminatory?
No good if you're a traveller or live on a canal boat then ?

You can live on a canal boat and be on the electoral register - there's hundreds of canal boats in London being used as house boats in and around many docks and pontoons - they've got electric and running water as well you know (And no doubt they'd have no difficulty opening a savings account )

subjecttocontract

But I assume they are boats with permanent moorings......there are some without.

cymruchris

subjecttocontract said:

But I assume they are boats with permanent moorings......there are some without.

Most people that live on a boat tend to have a permanent mooring somewhere, even if they go galavanting up and down a canal - but that's not a subject for the Top Easy Access Savings Discussion Area The ones without tend to be touring boats where people have a permanent address on land.

The only way you'd get a savings account with a geographic restriction is to actually move there, or even move there 'on paper' by registering somewhere else at a 'friend's house' - but then your credit file would end up all over the place and it's more hassle than it could ever be worth.

I imagine they restrict it to local post-codes as they were set up in a specific area, and want their customers to also be from that specific area rather than any tom, d-ick or harry turning up from far, far away wanting to open accounts and then creating issues that might be difficult to resolve, or it might just be a numbers thing - they only want X amount of custom, and they can get it in their catchment area, and don't need the challenges of going nationwide. So in effect, if you don't live there, they actually don't want your money  

ForumUser7

cymruchris said:

subjecttocontract said:

But I assume they are boats with permanent moorings......there are some without.

Most people that live on a boat tend to have a permanent mooring somewhere, even if they go galavanting up and down a canal - but that's not a subject for the Top Easy Access Savings Discussion Area The ones without tend to be touring boats where people have a permanent address on land.

The only way you'd get a savings account with a geographic restriction is to actually move there, or even move there 'on paper' by registering somewhere else at a 'friend's house' - but then your credit file would end up all over the place and it's more hassle than it could ever be worth.

I imagine they restrict it to local post-codes as they were set up in a specific area, and want their customers to also be from that specific area rather than any tom, d-ick or harry turning up from far, far away wanting to open accounts and then creating issues that might be difficult to resolve, or it might just be a numbers thing - they only want X amount of custom, and they can get it in their catchment area, and don't need the challenges of going nationwide. So in effect, if you don't live there, they actually don't want your money  

I asked Cumberland about this and they stated that it is purely so people are able to easily access their branches, as some things are easier to get sorted if someone can come in to deal with it in person. I guess that makes sense - and it’s probably just somewhat of a tradition that they’ve kept despite improving their online provision

subjecttocontract

That sounds to me like they realise the have made a mistake and are searching around for a suitable excuse to make them look good.......to late for that. You just wait until they want something from me! 😂😂

happybagger

In my obsessive carpetbagger days, Cumberland BS was the only one I could not get into. I even had a two-day trip up there to try as many branches as I could. It was a fortress. I couldn't bring myself to become a PNE "supporter" to try that route.

I always got a very terse response on entering too. Their accounts had always seemed very poor anyway (until the very recent offerings of course)

I vowed if ever they did drop their drawbridge, I would never open an account there

happybagger

ForumUser7 said:

I asked Cumberland about this and they stated that it is purely so people are able to easily access their branches, as some things are easier to get sorted if someone can come in to deal with it in person. I guess that makes sense - and it’s probably just somewhat of a tradition that they’ve kept despite improving their online provision

A tradition of having to book an appointment weeks in advance just to open an account, from what people say on here.
That won't do for the types on here who worry about their monthly Santander interest being 5 minutes late.

Band7

happybagger said:

A tradition of having to book an appointment weeks in advance just to open an account, from what people say on here.

For a minute, I thought you were talking about Barclays. They also offer you an appointment several weeks in the future if they can't process your online application for a current account for one reason or another.

ForumUser7

Band7 said:

happybagger said:

A tradition of having to book an appointment weeks in advance just to open an account, from what people say on here.

For a minute, I thought you were talking about Barclays. They also offer you an appointment several weeks in the future if they can't process your online application for a current account for one reason or another.

Barclays is ridiculous. I opened a current account online, and I want a chequebook. To get my chequebook, I need to give them a copy of my signature - this makes sense. What does not make sense is that it has to be via branch (cannot be via post, email, some kind of document web upload), and it has to be with a booked appointment! The earliest one I could get is late next month… Surely one of the two people who walk around helping people with the machines could literally take the pre-filled signature mandate form from me and put it on the system…at least, that’s how it’d work in any reasonable financial establishment rather than making customers wait 2 months + delivery for a basic chequebook

Bridlington1

According to moneyfacts, Coventry will be launching a new limited access saver at 2.85% (variable):
Allows 6 penalty free withdrawals, each additional withdrawal is subject to 50 days loss of interest.
Online only.
Min deposit: £1
Max deposit: £250k