Regular Savings Accounts: The Best Currently Available List!

Rich2808

bristolleedsfan said:

Michael Channon on Twitter: "@Yorkshire_BS Surprised I can't apply for a Loyalty Regular Saver account online. Need to wait for an email, print the form, fill it in and them post it. It feels like the 1980's. Surely your IT can handle online applications!" / Twitter

What a ridiculous reply from Yorkshire BS to the tweet - its not invitation only as its advertised on their website.
Plenty of other building societies offer accounts to long term members only - Saffron has a current regular saver only available to members of 12 months or longer. How do they manage to make those work via online applications and downloadable forms?
It surely can't be that difficult too for YBS to monitor who applying is a long term member or not as they will keep the records for HMRC and for AGM voting rights.  Even easier in fact if it was all done online - via your online login - as the verification could be immediate without the need for human intervention.
What a shocking waste of staff time in local branches sending out multiple envelopes and packs and processing them onsite when they should be focusing on essential branch visits for people during lockdown who need face to face meetings for presumably essential or urgent financial matters re bereavements or mortgages etc or the elderly who cannot operate online? 

Rich2808

veryintrigued said:

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.

 Well I presume the agency staff should also be prioritising face to face meetings for people who need urgent or essential help such as financial advice or to open more complex products - its hardly efficient use of their time either to be printing labels and stuffing envelopes for a loss leader regular saver that could be dealt with online or via head office. All branches and agencies are on limited hours - those hours should be prioritised surely during lockdown?

glider3560

Rich2808 said:

veryintrigued said:

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.

 Well I presume the agency staff should also be prioritising face to face meetings for people who need urgent or essential help such as financial advice or to open more complex products - its hardly efficient use of their time either to be printing labels and stuffing envelopes for a loss leader regular saver that could be dealt with online or via head office. All branches and agencies are on limited hours - those hours should be prioritised surely during lockdown?

They are probably saving a lot of time by not dealing with the basic transactions that many now perform online or over the phone.

veryintrigued

Talking about tangential..

Is it about time to take any anti YBS rants onto another thread and leave this one clear for people hoping to identify new products?

A couple already exist.

This is the original one where a product in the pipeline was identified:

https://forums.moneysavingexpert.com/discussion/6242312/yorkshire-building-society#latest

This one's a bit more ranty:

https://forums.moneysavingexpert.com/discussion/6244982/ybs-reg-saver-why#latest

JezR

Even though I never asked about coming into a branch to open the YBS Loyalty RS I was told that they weren't doing any in-branch openings as it wasn't considered as "essential". This could well be the specific branch I was speaking with rather than in general but maybe worth being aware of.

Rich2808

IanManc said:

veryintrigued said:

Talking about tangential..

Is it about time to take any anti YBS rants onto another thread and leave this one clear for people hoping to identify new products?

Or even better, perhaps people could just stop whingeing about YBS altogether.

YBS have come up with a regular saver with a high maximum monthly contribution and an excellent interest rate. I've been a YBS member on and off over the last 20 years and unfortunately I'm not eligible for this new regular saver account, but good luck to everyone who is.  🙂

Sorry - this thread is about helping people open and manage regular savers. Allowing online applications would make that easier. Maybe YBS will listen and learn?
Because frankly putting people at risk - staff and customers - by encouraging unnecessary branch visits during a lockdown in the midst of a pandemic doesn't seem very sensible. No regular saver - even one paying 3.5% - is worth that when YBS could permit online applications very easily.
Because they should also be thinking about minimsing risks to staff!

veryintrigued

Rich2808 said:

IanManc said:

veryintrigued said:

Talking about tangential..

Is it about time to take any anti YBS rants onto another thread and leave this one clear for people hoping to identify new products?

Or even better, perhaps people could just stop whingeing about YBS altogether.

YBS have come up with a regular saver with a high maximum monthly contribution and an excellent interest rate. I've been a YBS member on and off over the last 20 years and unfortunately I'm not eligible for this new regular saver account, but good luck to everyone who is.  🙂

Sorry - this thread is about helping people open and manage regular savers. Allowing online applications would make that easier. Maybe YBS will listen and learn?
Because frankly putting people at risk - staff and customers - by encouraging unnecessary branch visits during a lockdown in the midst of a pandemic doesn't seem very sensible. No regular saver - even one paying 3.5% - is worth that when YBS could permit online applications very easily.
Because they should also be thinking about minimsing risks to staff!

Simple solution for you.

Don't apply for it and sign off for tonight.

apt

Rich2808 said:

IanManc said:

veryintrigued said:

Talking about tangential..

Is it about time to take any anti YBS rants onto another thread and leave this one clear for people hoping to identify new products?

Or even better, perhaps people could just stop whingeing about YBS altogether.

YBS have come up with a regular saver with a high maximum monthly contribution and an excellent interest rate. I've been a YBS member on and off over the last 20 years and unfortunately I'm not eligible for this new regular saver account, but good luck to everyone who is.  🙂

Sorry - this thread is about helping people open and manage regular savers. Allowing online applications would make that easier. Maybe YBS will listen and learn?
Because frankly putting people at risk - staff and customers - by encouraging unnecessary branch visits during a lockdown in the midst of a pandemic doesn't seem very sensible. No regular saver - even one paying 3.5% - is worth that when YBS could permit online applications very easily.
Because they should also be thinking about minimsing risks to staff!

Can be managed online once opened. Can be opened without visiting a branch. Online opening would lead to many thousands of applications from people who are not eligible.

typistretired

I feel YBS have been very efficient over this Regular Saver especially as it has restrictions. My cheque has now cleared my current account. I feel Rich2808 should send YBS a secure message expressing his complaints as YBS are always looking for feedback and he will “get it off his chest”

eskbanker

apt said:
Online opening would lead to many thousands of applications from people who are not eligible.

Not if they included eligibility checking within the online application process!  Once they've decided what the rules actually are, codifying them shouldn't be beyond their capabilities....