YBS online and deposits by direct debit

luismy

Main Changes:

Direct Debits and Standing Orders - No longer supported from your Offset savings account

All existing Direct Debits will be cancelled

All existing standing orders will be cancelled

You need to contact companies you pay and provide alternative account details

Alternatively, your current account provider can arrange a manual switch (not part of CASS)

Mortgage Payments - You can no longer pay your Yorkshire Building Society mortgage by Direct Debit from your Offset savings account

You must set up payment from another bank account outside YBS

Need to provide alternative account details by 10 June 2026 (call 0345 166 9200)

Salary/Pension Payments Into Account - If you receive salary or pension into your Offset account that's used to cover Direct Debits/standing orders, YBS recommends moving these credits to another account outside YBS

Faster Payments - You CAN still make Faster Payments from your Offset savings account online or by phone (need to register at ybs.co.uk)

luismy

On the "bright side" they are paying £300 as compensation and they will also waive the early repayment mortgage fee if moving to another mortgage provider

luismy

For me these features were key as I was using the offset savings as my big pot of money doing not only drip feeding savings but also the ability to "qualify" for loads of bank accounts.

Now I've got 6 months to downsize from 160 financial products to just a few ...

Fun months ahead!!

friolento

https://forums.moneysavingexpert.com/discussion/comment/81857293#Comment_81857293

Are you sure this applies to all direct debits, or only to mortgage related ones? I have dozens of direct debits on YBS, not related to any mortgage or Offset account, and have not received any communication about any termination.

Could you perhaps post a link, or the announcement that you got?

EDIT: Found the YBS announcement, and it's indeed only for mortgages.

lon_don

Same here, no letter received for my DD-eligible former Egg Savings account.

luismy

https://forums.moneysavingexpert.com/discussion/comment/81868327#Comment_81868327

Apologies, I believe you are correct. I thought it was all DD but it seems they are only the ones that pay out bills.

Screenshot_2026-02-03-15-15-30-944_com.google.android.apps.docs.jpg

So it isn't as bad as I thought. Although not be able to setup SOs is a shame :(

BeBeebee

I have a YBS offset and have received the same email. As I read it, only DDs and SOs paid from YBS will be cancelled. I pay my mortgage by SO (not DD) from my offset. The SO will be cancelled, but I can’t see anything in the new changes which would stop me making a manual payment to my mortgage account from my offset every month. The mortgage terms don’t require a direct debit, and YBS have had no issue so far with me paying by SO (as long as it’s enough!).

The changes don’t seem to affect inbound DD payments, so the various DDs I have set up through YBS offset to pay from current accounts into YBS should be OK.

Interested to see £300 compensation offered - I haven’t received anything offering this. Did you have to complain about the changes?

pochisoldi

https://forums.moneysavingexpert.com/discussion/comment/81868343#Comment_81868343

Nothing here either.

Should be noted that the offset changes are for outbound direct debits. The ex-Egg account is an inbound direct debit. They already have the "mechanics" for inbound direct debits - that's probably how the majority of their mortgage payments are received. If they are "simplifying" their systems, I would expect "inbound DD to savings" to be on the chopping board - one less functionality to strip out of online banking as they (probably) move to unify the website and app offerings.