YBS E-Saver

cherry76

Just logged in my yorkshire building society account.  Was surprised to find out am getting only 0.10% on easy access saver.  There is another six access e-saver issue 4 which is paying more interests variable from 0.15% to 0.40%.  Guess it is my fault as should have keep track of the interest rate and move money to a better account.  Just wondering whether I should be doing that in future.  Thanks

refluxer

It might be worth checking your Yorkshire BS communication preferences, as you should have been notified of the change in advance. Since switching to paperless communication, I'm finding it's very easy to overlook emails !

Keeping an eye on interest rates is always a good idea, but a lot will depend on how much you've got saved and (for smaller amounts) whether you think it's worth moving from institution to institution to get a few extra pounds.

Note that you need £50k+ to get 0.40% for the Six Access Yorkshire e-Saver but if you have that kind of amount saved, then you can only do slightly better elsewhere if you want easy access (0.5% with Atom or Aldermore at the time of posting). If your amount takes you closer to the 0.15% rate with the Yorkshire and Atom or Aldermore don't suit, then Nationwide do a '1 Year Triple Access Online Saver' account which is currently paying 0.5% (variable) for all amounts. Another strategy is to drip-feed into different Regular Saver accounts, although not all of these allow access to your money so choose with care. 

couriervanman

Checked my Ecology B/S account yesterday and all accounts no longer available come with a 1% minimum guarantee but a Saffron B/S account pays 0.01%

planteria

yes Ecology are pretty fair with sticking to their 1% promise..
fwiw i came to realise that there was nothing competitive from Yorkshire Building Society and just reduced my balance to £100, to retain voting rights, and saved elsewhere. as examples we have premium bonds, accounts with our local Co-ops generating 2%+ and have money in crypto (tracking the dollar) generating 8.6%.

happybagger

cherry76 said:

Just logged in my yorkshire building society account.  Was surprised to find out am getting only 0.10% on easy access saver.  There is another six access e-saver issue 4 which is paying more interests variable from 0.15% to 0.40%.  Guess it is my fault as should have keep track of the interest rate and move money to a better account.  Just wondering whether I should be doing that in future.  Thanks

If you're happy with 0.4% with the likelihood of them reducing it (they have a habit of reductions then new issues) then fine
Alternatively move it out, and if you feel the need, either leave just £1 for membership, or £100 for voting membership.

By using reg savers I've actually managed to end up with the Bucks BS RS Locals as my instant access account, as unlimited penalty free withdrawals are allowed and it's (currently) at 1.2%