YBS Christmas RS maturiy

Descrabled

This account matures on 31 October and is available to transfer on 1st November. Unfortunately the transfer out of YBS will be the next working day, Monday 4 Nov.

What do people recommend? Am I able to action several withdrawals on Thursday 31 October to take effect on Friday 1 Nov?

Such a pain these building societies that make faster payments on the next working day!

Marcoos

Mention of this in the Regular Saver thread where advice seems to be to close the account early. 

poolboy

Good prompt, with ybs I call in the branch and get a cheque and bank it same day.

surreysaver

I was planning on emptying the account barring £1, within the next couple of weeks. Unless you've already made a withdrawal, as the account allows one withdrawal apart from closure.
I believe, although I may be mistaken, that YBS processes withdrawals the following day, regardless of whether it's a working day or not. Although probably doesn't make any difference if the account you're paying it into doesn't pay interest on funds received until the next working day 

allegro120

Descrabled said:

This account matures on 31 October and is available to transfer on 1st November. Unfortunately the transfer out of YBS will be the next working day, Monday 4 Nov.

What do people recommend? Am I able to action several withdrawals on Thursday 31 October to take effect on Friday 1 Nov?

Such a pain these building societies that make faster payments on the next working day!

I'm planning to close the account on 31st Oct, get funds on 1st Nov and redeploy into my 5.12% Cahoot.  The other option is to leave it in YBS @4.6% and withdraw on 4th November.  Given the value (£1.5k+interest), the difference in interest will be tiny.

Stargunner

allegro120 said:

Descrabled said:

This account matures on 31 October and is available to transfer on 1st November. Unfortunately the transfer out of YBS will be the next working day, Monday 4 Nov.

What do people recommend? Am I able to action several withdrawals on Thursday 31 October to take effect on Friday 1 Nov?

Such a pain these building societies that make faster payments on the next working day!

I'm planning to close the account on 31st Oct, get funds on 1st Nov and redeploy into my 5.12% Cahoot.  The other option is to leave it in YBS @4.6% and withdraw on 4th November.  Given the value (£1.5k+interest), the difference in interest will be tiny.

I closed mine last Thursday evening and the funds were in my bank on the Friday, including a whopping £38 interest

35har1old

poolboy said:

Good prompt, with ybs I call in the branch and get a cheque and bank it same day.

Does it not take time for the cheque to clear

gt94sss2

Descrabled said:

This account matures on 31 October and is available to transfer on 1st November. Unfortunately the transfer out of YBS will be the next working day, Monday 4 Nov.

What do people recommend?

I would expect to receive the funds from YBS on Saturday 2nd November, if I requested an external withdrawal on the 1st November.

Sea_Shell

Will we be able to make instant internal transfers on the 1st November??

I have two other RS with them, that I'd be funding, before withdrawing the balance.

Gers

I closed mine and the money popped into my current account yesterday. Good work YBS. 

Descrabled

Thanks to all who responded. I'm atill not sure what I'll do. I need the funds from this account to fund my other RS that have interest above 6‰