Closing Leeds Building Society Regular Saver

WindfallWendy

I'm trying to add a nominated account, but my first attempt was apparently not an online account, and so I've tried adding my Kroo account but the account details aren't recognised.

Where do other Leeds Building Society account owners transfer their money to? Or do you just wait for a cheque?

I am a bit bemused by this, though appreciate I was just greedy for Regular Saver interest rates 12 months ago and didn't read the small print 🙄

WindfallWendy

I have re-read the email I had from Leeds BS and it says that my account isn't an Online account, by which I think they must mean the Leeds account isn't an online account. But I have never been to the branch and opened it online, so they must be confused...???

Bridlington1

https://forums.moneysavingexpert.com/discussion/comment/82013721#Comment_82013721

Leeds BS are a bit of an odd one in terms of withdrawals. I've found if you phone them you can set up a nominated account and make a withdrawal to it over the phone, I've never been able to withdraw from their regular savers online.

Just beware that if you make a withdrawal, funds arrive the following working day and there's a 5pm cut off so make sure you make the withdrawal before 5pm tomorrow if you want it to arrive before the weekend (otherwise it'll be debited immediately but not arrive in your nominated account till Monday).

poolboy

Yes same here, I phoned and the transfer made over the phone. I could have called into a branch and got a cheque but the phone is easier.

nottsphil

Is it true you can't make a penalty-free withdrawal from a Leeds Regular Saver if it's maturing later in the same calendar year? Mine's been open 23 months but I've just noticed that it says (for a subsequent issue no.)

One withdrawal per calendar year (including account closure) is permitted subject to the minimum balance of £100 being maintained. Further withdrawals can be made subject to 30 days loss of interest on the amount withdrawn.

WindfallWendy

Thanks everyone. I got them to issue a cheque and all was fine. Nice bunch of people!

But then I used an app to pay the cheque I to my Lloyds current account and Lloyds rejected the deposit because the ink was too pale and they couldn't read the date apparently. Grumble grumble.

But great news - I spoke to Leeds again and the person on the phone was amazing. She said branches were open the first Saturday of the month so I could pop in and sort it out that way, but that it might be worth going down the route of the cancelling the cheque but it might take some time.

The cheque cancellation was all sorted out within 24 hours and they called me back to confirm everything. I can't speak highly enough of the staff at Leeds Building Society, but I do wish they made it easier to transfer out of my online account.

Thanks @Bridlington1 for the note on 'end of working day' feature but I've fallen foul given I was in their hands when they called me to confirm the cheque was cancelled and they could move cash into a current account for me.

Bridlington1

https://forums.moneysavingexpert.com/discussion/comment/82025600#Comment_82025600

I know it's too late now but in case it happens in the future I've found that if the ink's too pale for the cheque to scan, you can get round it by carefully going over the numbers and letters on the cheque with a sharp pencil. This makes it easier for the app to pick up what's written on the cheque and less likely to reject the deposit.

WindfallWendy

I was going to try that but then panicked that I had defaced the cheque and it was invalid. The annoying thing was, I thought it was clear as day!! Never mind.

Thanks for your advice, @Bridlington1 !