Newcastle Building Society Base Rate Tracker

Growingold

Finally received my activation code through the post yesterday.  Activated my nominated account and they said I would receive an email when it was all set up.  Haven't received one but logged in and was able to initiate a test withdrawal which should be received in my account by the end of the following working day.
Is it just me or do other people find the opening and activation process so long winded.?   Wondering if it is worth it as now other easy access accounts are nearly at this interest rate if not there already.  I know it tracks the BOE rate minus 0.70%  but other easy access accounts aren't doing so badly in this regard.

Malchester

So far I have found the account excellent. Deposits have shown up quickly but have not yet withdrawn. Very happy with the account. Customer service seems good too. Email re verifying nominated account did take a few hours to come through. Also can deposit into the account from other current accounts and not just nominated account. Only withdrawals have to be to nominated account.

S_uk

It was only having to wait for the code that was a bit annoying, but considering the account was opened instantly and received the account number on the day and didn't have to provide ID it was fine overall, and was no different from when I opened a Ford account. The withdrawals should also clear same working day if you withdraw by 4pm, which is better than Shawbrook (clears next working day) or Ford (withdraw by 1pm). Glad I opened one considering how quickly it was pulled.

sheslookinhot

No, I have no issues with the account opening process. 

If it’s not done in an hour people complain. I guess if that’s all they moan about they are shuttered from the real world.

soulsaver

No Longer Available. 

Eirambler

True, but it's useful for there to be a designated thread for it as it was accounting for a lot of posts on the main chat thread. My own view though is that, at 0.7 below the base rate it's unlikely to be a regular table topper, but is useful for those who don't want the hassle of moving money on a regular basis (I probably should have advised my wife to open one on that basis!).

flaneurs_lobster

sheslookinhot said:

No, I have no issues with the account opening process. 

If it’s not done in an hour people complain. I guess if that’s all they moan about they are shuttered from the real world.

Right.

I applied on 28 June, received acknowledgement email and sent off scans of requested id (by post) and made initial cash deposit on the same day.

Since then, nothing. 

So that's 10 (8 working) days without any communication at all.

Worthy of complaint?

gussie5555

flaneurs_lobster said:

sheslookinhot said:

No, I have no issues with the account opening process. 

If it’s not done in an hour people complain. I guess if that’s all they moan about they are shuttered from the real world.

Right.

I applied on 28 June, received acknowledgement email and sent off scans of requested id (by post) and made initial cash deposit on the same day.

Since then, nothing. 

So that's 10 (8 working) days without any communication at all.

Worthy of complaint?

Forget them, Shawbrook now offers 4.35% and the NBS tracking promise is worthless since competing banks will always match the tracked NBS rate.

Section62

sheslookinhot said:

No, I have no issues with the account opening process. 

If it’s not done in an hour people complain. I guess if that’s all they moan about they are shuttered from the real world.

I applied.  I got a message saying I had to send photo ID to a postal address for checking before I could use the account.

Also that copy documents had to be certified by a registered Solicitor or member of a FCA regulated firm.

Neither of which were correct.

I think my "moan" was very much a "real world" one.

PixelPound

gussie5555 said:

flaneurs_lobster said:

sheslookinhot said:

No, I have no issues with the account opening process. 

If it’s not done in an hour people complain. I guess if that’s all they moan about they are shuttered from the real world.

Right.

I applied on 28 June, received acknowledgement email and sent off scans of requested id (by post) and made initial cash deposit on the same day.

Since then, nothing. 

So that's 10 (8 working) days without any communication at all.

Worthy of complaint?

Forget them, Shawbrook now offers 4.35% and the NBS tracking promise is worthless since competing banks will always match the tracked NBS rate.

Some banks/BS may be a faff to open a new account with, especially if you have to do any ID checks etc. Then there is all the time withdrawing from one to add to a new one (which isn't always instant 4.3% is roughly 0.011% per day), so the appeal can be not having to swap and monitor for the absolute best rate.

mebu60

sheslookinhot said:

No, I have no issues with the account opening process. 

If it’s not done in an hour people complain. I guess if that’s all they moan about they are shuttered from the real world.

Many of us have heard nothing for 10 working days. Other accounts have overtaken this one since. One benefit of the 'complaining' is to know that you are not alone!