Progressive Building Society - 7% Reg Saver?

WindfallWendy

Posting a specific thread on this as the general RegSav thread is too busy and thriving for me to follow easily. Hope that's ok.

I have an RS with Progressive BS and think I'm only getting 5.5% But I had an email from them which was showcasing a 7% RS. I had to "Make an enquiry" as it doesn't seem to be an account I can just open online.

*Does anyone have any experience about this BS and more generally are there reflections on Member Only offers and access?*

My feeling is that it's good to have fingers in pies and keep accounts live to take advantage of member deals. But I've not got a huge amount of experience with Building Societies and particularly this one was a bit of a should I/shouldn't I? moment as it felt a bit creaky when I joined. But maybe that is what traditional building societies are like?

35har1old

WindfallWendy said:

Posting a specific thread on this as the general RegSav thread is too busy and thriving for me to follow easily. Hope that's ok.

I have an RS with Progressive BS and think I'm only getting 5.5% But I had an email from them which was showcasing a 7% RS. I had to "Make an enquiry" as it doesn't seem to be an account I can just open online.

*Does anyone have any experience about this BS and more generally are there reflections on Member Only offers and access?*

My feeling is that it's good to have fingers in pies and keep accounts live to take advantage of member deals. But I've not got a huge amount of experience with Building Societies and particularly this one was a bit of a should I/shouldn't I? moment as it felt a bit creaky when I joined. But maybe that is what traditional building societies are like?

You wouldn't be able to open the new issue until issue 3 has matured and you can't close it to change to issue 4
Annoying when you login there's a big advert for issue 4.
Open new account error you  already have a Regular Saver only one is allowed

fonesaver

35har1old said:

WindfallWendy said:

Posting a specific thread on this as the general RegSav thread is too busy and thriving for me to follow easily. Hope that's ok.

I have an RS with Progressive BS and think I'm only getting 5.5% But I had an email from them which was showcasing a 7% RS. I had to "Make an enquiry" as it doesn't seem to be an account I can just open online.

*Does anyone have any experience about this BS and more generally are there reflections on Member Only offers and access?*

My feeling is that it's good to have fingers in pies and keep accounts live to take advantage of member deals. But I've not got a huge amount of experience with Building Societies and particularly this one was a bit of a should I/shouldn't I? moment as it felt a bit creaky when I joined. But maybe that is what traditional building societies are like?

You wouldn't be able to open the new issue until issue 3 has matured and you can't close it to change to issue 4
Annoying when you login there's a big advert for issue 4.
Open new account error you  already have a Regular Saver only one is allowed

I have already raised this with them pointing out building societies are supposed to act in the interests of their members. They just replied to say the 7% is variable and that they do not intend to raise issue 3 to match. Disappointing behavior for a mutual.
Text from their website is basically BS!

Putting our Members first

Since Progressive was founded in 1914 our main priority has been putting our Members at the heart of everything we do.

We are a mutual society, owned by our Members and we’re always looking at ways to further enhance our branches and products – we know our customers seek out great value but don’t want to compromise on quality.

Bobblehat

35har1old said:

WindfallWendy said:

Posting a specific thread on this as the general RegSav thread is too busy and thriving for me to follow easily. Hope that's ok.

I have an RS with Progressive BS and think I'm only getting 5.5% But I had an email from them which was showcasing a 7% RS. I had to "Make an enquiry" as it doesn't seem to be an account I can just open online.

*Does anyone have any experience about this BS and more generally are there reflections on Member Only offers and access?*

My feeling is that it's good to have fingers in pies and keep accounts live to take advantage of member deals. But I've not got a huge amount of experience with Building Societies and particularly this one was a bit of a should I/shouldn't I? moment as it felt a bit creaky when I joined. But maybe that is what traditional building societies are like?

You wouldn't be able to open the new issue until issue 3 has matured and you can't close it to change to issue 4
Annoying when you login there's a big advert for issue 4.
Open new account error you  already have a Regular Saver only one is allowed

It certainly is annoying ... knowing you can do nothing about it until your 5.5% RS matures, April 2026 in my case. That's quite a long time to have that thorn in your side staring at you every time you login!

Kim_13

They're also shoving the advert at me even though I have Issue 4 and it is one account per person. It would be better for all users if there was a way to dismiss an advert as there is with Nationwide for example.

flaneurs_lobster

Don't bother getting upset with ProgBS, get an RS with Zopa (7.1%) or Co-op, FirstDirect (7%).

They need a current account (Zopa only needs a soft search) but not a lot of effort.

DRS1

I just opened one of these Progressive RSs The account number ends in X.  Is that normal?  I was expecting just numbers.

Bridlington1

DRS1 said:

I just opened one of these Progressive RSs The account number ends in X.  Is that normal?  I was expecting just numbers.

Fear not, it's normal, I've had a few account numbers with an X at the end.

dealyboy

DRS1 said:

I just opened one of these Progressive RSs The account number ends in X.  Is that normal?  I was expecting just numbers.

Well mine is 11 numeric digits ... however my Monmouthshire one (10 characters) is 9 numeric digits plus an X 

Kim_13

dealyboy said:

DRS1 said:

I just opened one of these Progressive RSs The account number ends in X.  Is that normal?  I was expecting just numbers.

Well mine is 11 numeric digits ... however my Monmouthshire one (10 characters) is 9 numeric digits plus an X 

Mine is also 11 numeric digits. You can always opt for a debit card payment until COP is up and running.

WindfallWendy

flaneurs_lobster said:

Don't bother getting upset with ProgBS, get an RS with Zopa (7.1%) or Co-op, FirstDirect (7%).

They need a current account (Zopa only needs a soft search) but not a lot of effort.

I have co-op, Lloyds, virgin, tsb, FD, Nationwide and Santander RS's all offering better than 5.5% .... I'm just greedy 😄

I'll probably just get my husband to open a 7% one actually.