Yorkshire BS Regular Saver Maturity

swanfan02

I had a regular saver mature into a 6 access saver today, when I closed the account the full amount was not transferred to one of my other YBS accounts, a transaction with ‘Adjustment’ -£20.49 was showing on the closed account & the missing £20 is not showing in my accounts. Anybody else had this? I will be contacting the YBS later today to get an explanation about this.

TheWoodler

That’s concerning as YBS have been reported elsewhere as having similar issues with the Rainy Day Saver on closure. 

I’m starting to wonder whether the recent disastrous website update planted a few bugs in the system that need ironing out now. Might not be that, but it definitely needs looking at by them.

Thanks for the heads up! 

JamesRobinson48

I had the exact same thing this morning. I made the rookie error of not checking the T&Cs. Possibly for this particular product (unlike YBS's typical RS's) you get penalised if you don't wait until the morning after maturity before closing. The full annual interest was credited to my account yesterday so I assumed it was all done and dusted and could safely be closed today (the account anniversary) but perhaps I misunderstood. Anyhow, given this painful sting I'm unlikely to open a YBS RS account again.

I'm certain there are many among us who also have this same RS coming up for maturity in the next few days, so I urge you not to close until the annual interest has been visible on the account for at least a couple of days.

Shedman

Thanks for heads up on this issue.  

In my case I had still had my one no penalty withdrawal left so moved all bar £10 out yesterday so that I had access to most of the money straightaway (as I was concerned that if they moved it into a new Six Access Saver account it would end up having the usual 14 day withdrawal restriction).   Mine matures tomorrow but I see the interest has already been credited today so perhaps I should have waited until today then I could have moved a bit more . Anyway, at least now, all that can be held up is £10 plus the £180 interest. When it moves to the new account I will wait a few days before doing anything based on what you guys have experienced.

Wheres_My_Cashback

JamesRobinson48 said:

I had the exact same thing this morning. I made the rookie error of not checking the T&Cs. Possibly for this particular product (unlike YBS's typical RS's) you get penalised if you don't wait until the morning after maturity before closing. The full annual interest was credited to my account yesterday so I assumed it was all done and dusted and could safely be closed today (the account anniversary) but perhaps I misunderstood. Anyhow, given this painful sting I'm unlikely to open a YBS RS account again.

I'm certain there are many among us who also have this same RS coming up for maturity in the next few days, so I urge you not to close until the annual interest has been visible on the account for at least a couple of days.

Had you previously made a withdrawal ? This account permitted one only and closure. Did you do this mornings as a W/D or closure ?

Maturity instructions stated funds would be automatically transferred to the new 6 access a/c on the 20th July or if you wanted a different product to talk to them.

apt

I waited until the account title changed to six access e saver and haven't had an issue. If you want to use the YBS 6% loyalty  e bond as a home for some or all of the maturing funds this takes a day to set up.

swanfan02

The explanation I have had from the YBS is the deduction is regarding interest calculations, it has nothing to do with any 14 day periods. The guy I have spoken is getting back to me later. I will update once they have contacted me again

friolento

I won't know for certain until the money arrives in my current account tomorrow but so far there is no sign of any deduction in my account. I have requested closure of my six access e-saver this morning and expect to get the full £183.31 interest, plus 67p for 1 day interest in the six access e-saver.

quirkydeptless

My maturity email said my account would mature on the 19th July and "Your funds will be transferred on 20-JUL-2023"

Checking Today I noticed that my account had become a new 6 access saver (it didn't mature to my existing one as I'd left no maturity instructions) with interest added Yesterday. I did a withdrawal which has an ETA of tomorrow, the 20th, so all seems OK.

I might have considered their 6% loyalty bond which I'm eligible for, but it's a smidge off the top rate and the website has been a PITA with fails and I'm now locked out, even though I'm pretty sure my password was correct in my 3 attempts

Catplan

Shedman said:

Thanks for heads up on this issue.  

In my case I had still had my one no penalty withdrawal left so moved all bar £10 out yesterday so that I had access to most of the money straightaway (as I was concerned that if they moved it into a new Six Access Saver account it would end up having the usual 14 day withdrawal restriction).   Mine matures tomorrow but I see the interest has already been credited today so perhaps I should have waited until today then I could have moved a bit more . Anyway, at least now, all that can be held up is £10 plus the £180 interest. When it moves to the new account I will wait a few days before doing anything based on what you guys have experienced.

So mines was transferred to the six access saver today, I moved 6180 to ybs savings account leaving 2.58 in the six access saver, then moved 5000 to the loyalty fixed rate account which I funded the other week. So didn’t need to wait the 14 days to get money out the six access saver account. No strange deductions as yet either.

trickydicky14

My R.S is also due to mature today, I’ve been trying to log in and getting a blank page when I click the log in button.