Building Society Acccounts free shares

WESTONJ

Back in the 80's I opened a couple of building society accounts for the free shares should the building society be taken over by a bank.

In lockdown, have  been going thru these accounts.

Question is, is it still worth keeping £100 in each account ?

And secondly some have merged i.e stroud and swindon and coventry, yorkshire and N&P , is it worth keeping both accounts if you have them or close one of them ?

Thoughts anyone ?

roddydogs

No..........

Greatgimp

Carpetbagging was 20 years ago.

IvanOpinion

Greatgimp said:

Carpetbagging was 20 years ago.

Or as the young dudes say 'That was so last century'

Zanderman

Short answer, as stated above, is no.
Many have clauses now that rule out carpet-bagging anyway.
Read through this thread for more info:
https://forums.moneysavingexpert.com/discussion/6124575/is-carpetbagging-dead/p1

Freecall

Greatgimp said:

Carpetbagging

Ah.... takes me back.

Happy days!

  

Notepad_Phil

Certainly wouldn't keep £100 in them (unless they are paying decent interest rates), but maybe reduce them down to £1.00 rather than closing them. That might make it easier to open accounts in those building societies in the future if they start offering decent rates, and if carpetbagging does ever come back then you can always up the amounts quickly to £100.

thor

If you opened them in the 80s then that would have been pre signaway accounts so why not keep 100 quid in these accounts? Yes it is extremely unlikely that they will generate shares but you're not going to lose out too much in terms of interest anymore as mutuals these days are geared up to support borrowers and house prices. Free shares would be the only benefit of mutuality for savers.