Regular Savings Accounts: The Best Currently Available List!

Newly_retired

glider3560 said:

retiree said:

colsten said:

Newly_retired said:

I have just received my application form through the post from YBS local branch. Given that we are near the end of the month, I presume returning it today together with a cheque for £500 is the best way to be sure it will be open this month? (Normally I would open it with less, and transfer the rest online. ) Being a 28 day month it is cutting it fine.

It will depend on

1. when your application gets processed
2. whether YBS credit your account on the day they process your application or when the cheque has cleared. If the latter, it's not going to happen in February, so let's hope it is the former, and that they process your application this week.

EDIT: My cheque shows as credited on Feb 24,  the day they opened  my account. As of yet, there is no sign of it in my current account but that doesn‘t matter now. Next deposit on March 1 🥳

Other than advancing the eventual maturity date, I cannot see any advantage in rushing to get it open this month. Am I missing something?

If you open the account at the end of a month then make the subsequent payments on the 1st, you get a higher balance for a longer period of time (so more interest).

This is what I was thinking.

Yorkshire_Pud

where_are_we said:

M&S Monthly Saver - old conditions were a cass switch, current account and 2 DD`S. Yes - good advice to keep current account and 2DD`s ticking over until hopefully a reincarnation of the MS.

I’m going to close my M&S current account when the RS matures. In the hope that in the future I will qualify as being a new customer if they bring in a switching offer.Could be several years who knows but I’m not expecting any more perks from the account as is.

typistretired

YBS passbook arrived in post today. I will make another deposit on Monday.

Nick_C

typistretired said:

YBS passbook arrived in post today. I will make another deposit on Monday.

When and how did you open the account?

typistretired

Nick_C said:

typistretired said:

YBS passbook arrived in post today. I will make another deposit on Monday.

When and how did you open the account?

Local branch emailed application on Tuesday and I completed and posted 1st Class same day.

colsten

A reminder for those eligible for a YBS Regular Saver: you can download the applications form from https://www.ybs.co.uk/productdata/Application-YB571317B.pdf (link opens the PDF).

If you get your completed application form & cheque to your local Branch or Agency by first thing tomorrow morning, you still stand a chance that they open your account in February, and that you can make your 2nd deposit on Monday March 1. You don't have to wait for the passbook, or until your cheque has cleared - as soon as you can see the account in the app/online, you know the date of the first deposit. It takes an overnight update for your new account to show. You can obviously also call them tomorrow and politely ask whether they'll process your application before end of play tomorrow.

bristolleedsfan

No joy with a callback despite completing form mentioned, asking via Chat who said would pass message on to branch and also asking by secure message on Tuesday for account opening telephone call, no facility to print of form, forms arrived by post today which have been returned with envelope marked urgent account opening 

typistretired

Good luck hope everything goes okay for you.

Rich2808

Good of Yorkshire BS to open this account with such a high rate.
But is this the most efficient use of branch staff time under lockdown and reduced opening hours when there may be people with urgent mortgage or savings maturity issues etc who need face to face meetings?
Why not allow online applications and let head office deal with all this in a more efficient way?  If a small local society like the Tipton can manage this why not a large national one with millions of members?

veryintrigued

Rich2808 said:

Good of Yorkshire BS to open this account with such a high rate.
But is this the most efficient use of branch staff time under lockdown and reduced opening hours when there may be people with urgent mortgage or savings maturity issues etc who need face to face meetings?
Why not allow online applications and let head office deal with all this in a more efficient way?  If a small local society like the Tipton can manage this why not a large national one with millions of members?

Or maybe lots of these aren't actually being opened at full YBS branches and are instead being opened at agencies where they (the one I used) are thankful of this product and thankful of being off furlough.

Just because it doesn't fit your personal circumstances doesn't mean it doesn't help others circumstances.

On a tangential note this product is a great friend of the Halifax Reward account.