Regular Savings Accounts: The Best Currently Available List!

Frogletina

m&s have had no regular savers on offer since November

apt

Rich2808 said:

Blue_Sky said:

typistretired said:

Bemr said:

what7 said:

I wonder if I am eligible. I am already a member, with branch RS 1,2,3.
Before I closed these accounts, I opened Internet saver plus issue 7 in September 2020.

According to the phone call I just received from my local branch, you are NOT eligible.  I am in a similar position, continuous membership since 2017, but my only active account is less than a year old.  They told me I cannot open the new account.

Check in your closed accounts and if there is no break in membership as you opened new account whilst another was still open you should qualify.  Send them a message whilst you are logged in if you find they have made a mistake

I think what is causing confusion for some staff members of YBS is the following.

At the top of their information sheet just below the large 3.50% figure they say:-
To qualify for the Loyalty Regular Saver you must have had a continuous member relationship with YBS or Chelsea Building Society on or before the 1st January 2020.

However a little lower down in the information sheet in the section titled How do I open and manage my account it says:-
You must have an active, open account (Savings or Mortgage) with YBS or CBS that has been OPENED on or before the 1st January 2020.

These two requirements are not the same thing, so I can see why some people might get refused an account.

The former requirement surely must be right - as it implies you need to have kept an savings account with at least £100 in it (to be a 'member') or had a mortgage or both which was open on 1/1/20 and you still are a member. If it were a loyalty account it would be very unfair (as implied by the second requirement) to exclude someone who closed a YBS savings account opened before 1/1/20 and transferred the proceeds to another YBS account opened post 1/1/20 - or closed that savings account after they took out a YBS mortgage.

If its supposed to be a loyalty account it should reward loyalty?

And requirement 1 avoids the issue over what is an 'active account' - must you have paid funds in recently (what if it was a 2 year fixed rate bond which was still open but didn't permit top ups during the term).

The problem with your opinion is that' You must have an active, open account (Savings or Mortgage) with YBS or CBS that has been OPENED on or before the 1st January 2020' is what appears in the eligibility section.

trickydicky14

I've been lucky on this one, I use to have several RS with Yorkshire one matured and the other I closed early when the rate dropped long time back. Luck would have it, I also had a very old easy access savings account that now only pays 0.30% ( has not been available for a long time) I kept it going as its the only account that still lets me pay money in via debit card and D/Ds so I use it to get my £5 a month reward from my Halifax CA's.
It's proved to be a great little account over this passed year

Fingerbobs

Fingerbobs said:

typistretired said:

YBS just rang me I could have had a telephone application appointment tomorrow but she warned me that the call would take approximately 40 minutes so opted for the forms to be sent out to me.

I just popped to the branch in my lunch hour, and they very kindly let me open the account there and then, as they weren't busy. The lady at the next counter was also opening one! As a guesstimate, I reckon it took about 15 minutes.

New account now showing online and in App. I guess it updated overnight.

soulsaver

colsten said:

YBS Bonanza RS

I know I should not complain as it is such an excellent account, but I'll have a little moan anyway. The only way you can open this account atm is by Post. No account opening possible in Branch just now. They need to send you the application form by snail mail, it can't be downloaded, or emailed to you. Imagine how much interest they could pay you if they didn't have ancient processes!. 

I've just been offered an appointment in branch (Chester). Maybe it's your local branch restriction?

eddie7612

Anyone had any luck opening the YBS regular saver without an account opened before Jan 2020 (but having continuous membership)? I qualify based on the continuous membership condition but I don't have an open account from before then. Just been told I can't have this account by one branch.

glider3560

eddie7612 said:

Anyone had any luck opening the YBS regular saver without an account opened before Jan 2020 (but having continuous membership)? I qualify based on the continuous membership condition but I don't have an open account from before then. Just been told I can't have this account by one branch.

Surely you must've had an account (either savings or mortgage) in order to have been a member?

ctdctd

eddie7612 said:

Anyone had any luck opening the YBS regular saver without an account opened before Jan 2020 (but having continuous membership)? I qualify based on the continuous membership condition but I don't have an open account from before then. Just been told I can't have this account by one branch.

Just having an online login does not count - you have to have an open account from before Jan 2020 to have membership of the society.

SFindlay

eddie7612 said:

Anyone had any luck opening the YBS regular saver without an account opened before Jan 2020 (but having continuous membership)? I qualify based on the continuous membership condition but I don't have an open account from before then. Just been told I can't have this account by one branch.

Why do you think you qualify as a member if not had an account open during that period? 

eskbanker

Surely it's possible for someone to have held multiple YBS accounts continuously for many years but without currently holding one that had been opened by January 2020, e.g. one maturing in, say, mid 2020 and being replaced by a new one then (with some overlap)?

This could qualify for some definitions of the eligibility but not others, as they're stated inconsistently:
https://www.ybs.co.uk/savings/product.html?id=YB571317B

[top] To qualify for the Loyalty Regular Saver you must have had a continuous member relationship with Yorkshire Building Society or Chelsea Building Society on or before the 1st January 2020

[within summary box] You must have an active, open account (Savings or Mortgage) with Yorkshire Building Society or Chelsea Building Society or a SharePlans account that has been OPENED on or before the 1st January 2020

and a third, ambiguous, version at https://www.ybs.co.uk/productdata/Factsheet-YB571317B.pdf

You must have had a continuous membership with Yorkshire Building Society starting on or before the 1st January 2020 with an active, open account (Savings or Mortgage) with Yorkshire Building Society or Chelsea Building Society or SharePlans as either Main Holder, Other Holder or Trustee to be eligible for the Loyalty Regular Saver account