YBS Savings Accounts

jameseonline

Anyone know/understand why YBS let you get accounts but stop you from depositing until they complete checks? (Even if you already with them?).

Like applied for a 5.75% one earlier, shows account details in app.

Trying to get my head around why they would give me the account if they need to do checks.

fonesaver

It took me a week and then a phone call to YBS to get my account properly opened. I was told the system doesn't distinguish between new and existing customers!
YBS seem to have some pretty ropey I.T.  like the app often comes up with an error message when you login and last year showed loads of duplicate transactions.

35har1old

fonesaver said:

It took me a week and then a phone call to YBS to get my account properly opened. I was told the system doesn't distinguish between new and existing customers!
YBS seem to have some pretty ropey I.T.  like the app often comes up with an error message when you login and last year showed loads of duplicate transactions.

Have opened and funded on the same day

xylophone

I've been with YBS for years and have opened different accounts on line without this problem.

dali21

I have been with YBS for years but they still ask me to provide ID each time I apply for a new account.  I do not live near a branch so have to post to their head office each time.  Unless they start offering vastly improved rates again, I am avoiding them.

soulsaver

So have I - and they've never stopped me depositing. IIRC they stop you withdrawing from any deposits for first 14 days.

jameseonline

My YBS 5.75% Loyalty Regular eSaver that I applied for the other day is now showing up as ok to deposit which is good.

Still don't understand why they do the pending checks thing but hey ho🤣

Consumer3

I’m an existing customer (from 1990’s) and I was able to open another account with them straight away, without extra ID checks.

Family member tried to open a new account with them today and it took a while, including her having to do a video ID check and passport photo on a ‘dark background’. She still has to wait up to 24 hours to see if they are happy to go ahead…. 

Kim_13

It’s only the last two for me that they’ve needed to do checks, the Christmas 2023 Regular Saver, my Fixed Rate ISA in November 2022 and the Rainy Day Account could all immediately be paid into.

jameseonline

I've checked my accounts it seems I've gained 89p on interest between them, yet the app doesn't show this in transactions list, only as money available.

What annoys me about YBS is they don't allow you to move less than £1 between or out of YBS.

I don't understand why they can't sort this out.

The only work around is deposit £1 into 1 account then move that plus the interest into another & keep doing until all accounts done then eventually get money out & that's a right faff to do, plus I'm sure that would look dodgy as etc

katejo

jameseonline said:

I've checked my accounts it seems I've gained 89p on interest between them, yet the app doesn't show this in transactions list, only as money available.

What annoys me about YBS is they don't allow you to move less than £1 between or out of YBS.

I don't understand why they can't sort this out.

The only work around is deposit £1 into 1 account then move that plus the interest into another & keep doing until all accounts done then eventually get money out & that's a right faff to do, plus I'm sure that would look dodgy as etc

Your comment prompted me to check my account for interest  which had been paid. If I clicked on the transactions button and selected 2024, it the displayed the actual amount added. I can't help you with transfers in or out.