Regular Savings Accounts: The Best Currently Available List!

bristolleedsfan

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

Kazza242

I called a YBS branch this morning about the account.  They said they would post an application form out to me, but I asked if I could complete the form and then hand it in to the branch, as I was going to be in the vicinity of a branch today.  They agreed and opened the account and called me back 20 minutes later to collect the passbook and account documentation.   

Great service.  SO for the second payment is setup for 1st March.  

I was eligible for the account because I have an old Internet Saver with them that accepts DD payments.  

typistretired

SFindlay said:

Here's a buck of the downward trends!!
Yorkshire Building Society have released a loyalty RS paying 3.50% on up to £500 per month and allowing 1 withdrawal per year.  Applicants must have been a member continuously since at least 010120 and like previous YBS regular savers it can only be opened in branch or by post. 

Just wanted to give you a big thank you for alerting us to this Regular Saver 

trickydicky14

Kazza 242
I was eligible for the account because I have an old Internet Saver with them that accepts DD payments.  
I have one of those accounts, its been a God send to me when opening new Current accounts, hope it never gets pulled.

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

IanManc

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.  🙂

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.