Hanley Economic Building Society BRANCH SAVER

refluxer

Following the recent base rate decrease, the Branch Saver account will be dropping to 4.25% on 1st June.

I think that'll be my cue to finally close this account as I managed to secure a boosted Chase Saver recently which will pay more than this one until November, without the obvious restrictions of a branch/post-only account which is limited to 1 withdrawal a month.

As the minimum balance for the Branch Saver is £1000, I was considering opening an Instant Access savings account and sticking £1 in to maintain membership but, judging by the interest rates currently on offer for their other savings accounts, I think the chances of opening another account there any time soon are slim to none, unfortunately.

Bridlington1

refluxer said:

Following the recent base rate decrease, the Branch Saver account will be dropping to 4.25% on 1st June.

I think that'll be my cue to finally close this account as I managed to secure a boosted Chase Saver recently which will pay more than this one until November, without the obvious restrictions of a branch/post-only account which is limited to 1 withdrawal a month.

As the minimum balance for the Branch Saver is £1000, I was considering opening an Instant Access savings account and sticking £1 in to maintain membership but, judging by the interest rates currently on offer for their other savings accounts, I think the chances of opening another account there any time soon are slim to none, unfortunately.

I closed my Branch Saver around the time they announced it was becoming a closed issue.

I kept hold of an easy access account with them as you never know quite when they'll come up with an account worth having. I didn't expect their Branch Saver or their Online RS, both of which were quite competitive when they were launched.

Additionally their accounts allow deposits by debit card online and allow you to withdraw funds deposited by debit card quite easily.

Whilst I haven't tested this facility myself, they seem to allow deposits by direct debit so it could be a useful one to have in the future, especially as Scottish Widows have sent me a couple of letters in the last year to tell me about how I could be getting better savings rates elsewhere so I wouldn't be too surprised if Scottish Widows decided to go the same way as Birmingham Midshires with regards to their savings accounts.