Anyone had problems with Yorkshire BS?

linda_fogler

Beware investing with them. Unfortunately I did. Nowhere on application form for Six Access e-Saver could I see place for putting nominated bank for withdrawals. I called and was told not to worry, there would be when I made initial deposit, so stupidly I did, but still nowhere to put bank details. So I called again, she had to consult a supervisor and then said there was a problem with my account the IT department needed to deal with, and as it was Friday it would be following week that someone would call me. Now Wednesday, no call back! When I called again I was told that I must have missed place to put bank details on application and anyway I couldn't withdraw funds within 14 days of opening account! I've got investments in several online financial institutions and never had this problem before. It seems a very underhand way for Yorkshire BS to get your money for their own short-term investments. Is it a scam? Maybe it's legal, but it's certainly not a fair way to do business.

wiseonesomeofthetime

It is commonplace now for an account to be nominated and linked to savings accounts to enable withdrawals. All of mine do, and that's with several providers.

That said, in no documentation attached to the website prior to applying does it inform potential customers of that requirement.

Reference the 14 days where no withdrawals can be made, this is clearly mentioned in their Factsheet.

For security reasons, online withdrawals are not available for the first 14 days after your account has been opened. After 14 days withdrawals can be made from your account at anytime on condition that there are sufficient cleared funds in your account and that you maintain the minimum balance of £1.

Without applying for an account myself, which I do not intend to do with those paltry rates, I cannot comment on whether you missed a field for the nominated account submission.

JamesRobinson48

In my experience it is normal for any bank or BS savings account to prohibit withdrawals in the first 14 days after opening. In the case of this particular YBS deposit product, that restriction is prominently stated in the summary T&Cs that appear on screen before applying, therefore one is forewarned and must apply on that basis.

Generally for YBS online savings accounts, nominated accounts for withdrawals are not designated in the application process. Instead, once the savings account is up and running, there is online functionality to designate one or more (up to at least ten) nominated accounts for withdrawals. I have had several successive online savings accounts with YBS, and designation of nominated accounts for withdrawals has never been a problem for me.

In the past, I have had issues with a couple of their policies, so YBS is not my first choice for online savings accounts. But neither of the two points you mentioned seem to be grounds for objection.

Pangolin76

I have a mortgage account and an offset account with them and have no problems at all...including setting up the initial account which, apart for the ID check, was all done on line.

dunstonh

Anyone had problems with Yorkshire BS?

You would be hard pushed to find any large firm that hasn't had issues in some area.  So, the answer to your question will be yes.

Beware investing with them.

Your issues appear to be about a savings account.   Not investments.

Is it a scam? 

Daft comments deserve daft responses.

coachman12

dunstonh said:

Anyone had problems with Yorkshire BS?

You would be hard pushed to find any large firm that hasn't had issues in some area.  So, the answer to your question will be yes.

Beware investing with them.

Your issues appear to be about a savings account.   Not investments.

Is it a scam? 

Daft comments deserve daft responses.

And that's how so many newcomers to MSE, asking for help about something they sincerely do not understand, get treated far too often----with arrogance, dismissal and rudeness.  And it is usually the same 24/7 culprits cabal who treat these naive members who have asked for help. MSE is getting a reputation where people who know so little come here thinking learned people ( when most of them are not) will help them----politely-----and find a dreadful "welcome". 
Poor lambs to the slaughter !!!

dunstonh

coachman12 said:

dunstonh said:

Anyone had problems with Yorkshire BS?

You would be hard pushed to find any large firm that hasn't had issues in some area.  So, the answer to your question will be yes.

Beware investing with them.

Your issues appear to be about a savings account.   Not investments.

Is it a scam? 

Daft comments deserve daft responses.

And that's how so many newcomers to MSE, asking for help about something they sincerely do not understand, get treated far too often----with arrogance, dismissal and rudeness.  And it is usually the same 24/7 culprits cabal who treat these naive members who have asked for help. MSE is getting a reputation where people who know so little come here thinking learned people ( when most of them are not) will help them----politely-----and find a dreadful "welcome". 
Poor lambs to the slaughter !!!

The tone of responses is often set by the tread starter themselves. 
Suggesting that Yorkshire Building Society is operating a scam is daft.  Saying as much is not impolite.  If you say something ridiculous are we meant to just accept it? 
Look at the first post again.  The questions asked were answered.    The rest of the first post was a vent/rant.     

What have you contributed to the thread that has helped the OP?

coachman12

Saying something is "daft" is your view----and not that of a newcomer who obviously knows very little ( which is why ordinary folk are encouraged by Martin Lewis to come here for polite help----little does he know !!!! ).
I have contributed nothing to this site except to point out arrogance and downright rudeness when I read it. That is a contribution, is it not.

dunstonh

Saying something is "daft" is your view-

So you don't think that accusing Yorkshire Building Society of being a scam is daft?

I have contributed nothing to this site

Should have stopped there. 

coachman12

dunstonh said:

Saying something is "daft" is your view-

So you don't think that accusing Yorkshire Building Society of being a scam is daft?

I have contributed nothing to this site

Should have stopped there. 

But I didn't stop there did I  ?  I went on to say :
"I have contributed nothing to this site except to point out arrogance and downright rudeness when I read it. That is a contribution is it not "
No clever comments can remove the arrogant dismissive rudeness to a new poster who wanted help from MSE who he thought had a reputation as a helpful forum with friendly helpful members. 

Eco_Miser

coachman12 said:

Saying something is "daft" is your view----and not that of a newcomer who obviously knows very little ( which is why ordinary folk are encouraged by Martin Lewis to come here for polite help----little does he know !!!! ).
I have contributed nothing to this site except to point out arrogance and downright rudeness when I read it. That is a contribution, is it not.

Not a useful one, especially when considering your own arrogance and downright rudeness to the regular contributors, who actually answer the questions.