Buckinghamshire Building Society Regular Saver Locals (NLA)

Hattie627

(I've created as a separate thread as this account has not been available for some time, and will not be of interest to people looking for a Regular Saver)

I have two Bucks BS Regular Saver Locals accounts, going back to 2016 and 2017 (I'm not a local- they started off as different product RS accounts but both became RSL after a rationalisation of accounts in 2018, hence the reason I have two).

There are significant balances in both but I have been paying in at the minimum of £20 per month into each for a while.

Despite being legacy accounts, Bucks have always kept the rate up with the market for RS accounts, always well-beating its current RS offering. The rate for the RSL has gone up to 4.25% today. the account offers withdrawals without penalty, although passbook needs to be posted for a cheque.  Main criticism I have is that Bucks are usually later than others to respond to base rate rises.

Although I could get slightly more for EA (4.3% with my new shiny Newcastle BS EA tracker), I feel a kind of loyalty to Bucks BS. It is very small (one branch).

I'm not keen at the moment in putting the funds into a fixed rate product (may need it for forthcoming building project).

Anyone else retaining their Bucks BS Regular Saver Locals?

wmb194

No, I ditched mine ages ago. The rate isn't good enough.

Hattie627

wmb194 said:

No, I ditched mine ages ago. The rate isn't good enough.

It's not bad for what is essentially easy access. 

happybagger

I've kept mine but after this poor announcement today they are no longer competitive and will be moving everything bar a couple of hundred to my Hanley at 5% until I decide whether or not to fix, and for what period. I will be keeping it open though as it's got a good £500 max per month and unlimited withdrawals. Could be worthwhile holding for when fixed rates fall if the market starts cooling, while BoE lags behind cutting base rates.

Wheres_My_Cashback

Hattie627 said:

(I've created as a separate thread as this account has not been available for some time, and will not be of interest to people looking for a Regular Saver)

I have two Bucks BS Regular Saver Locals accounts, going back to 2016 and 2017 (I'm not a local- they started off as different product RS accounts but both became RSL after a rationalisation of accounts in 2018, hence the reason I have two).

There are significant balances in both but I have been paying in at the minimum of £20 per month into each for a while.

Despite being legacy accounts, Bucks have always kept the rate up with the market for RS accounts, always well-beating its current RS offering. The rate for the RSL has gone up to 4.25% today. the account offers withdrawals without penalty, although passbook needs to be posted for a cheque.  Main criticism I have is that Bucks are usually later than others to respond to base rate rises.

Although I could get slightly more for EA (4.3% with my new shiny Newcastle BS EA tracker), I feel a kind of loyalty to Bucks BS. It is very small (one branch).

I'm not keen at the moment in putting the funds into a fixed rate product (may need it for forthcoming building project).

Anyone else retaining their Bucks BS Regular Saver Locals?

Never been a member, but to me your loyalty is a one way street. Businesses have not been loyal to customers for years, in fact it's very old fashioned of many businesses to remain loyal to a customer as it costs them financially. Your loyalty is costing you financially. I would WD to the minimum to keep the relationship only and find a better home for your funds.

Some easy/limited access are now at 4.5% (NLA) or a BLME 90 day is at 5.09%, a good rate for a short duration.