CarpetBagging- The best accounts to open at each Building Society

Bert55

Hi chaps. I just wondered if building societies run credit checks on new customers? If so, do they appear on your credit records?

Thanks

Sykes82

bristolleedsfan wrote: »

Money Bag is still operating and so is "Mutuals" sub forum on R-Points, obviously a year 2000 ( or before) carpetbagger like yourself will know all the low downs on carpet bagging.

Been "into it" for a long time but sadly had to cash in.

Was the early days of the internet & demultualisation. Made some good money along the way (Halifax, AA, Staffs, Portman, Standard Life, FP, B&B).

Time to have a dabble again.

Thanks for the info, i will look into it.

Sykes82

Sykes82 wrote: »

Been "into it" for a long time but sadly had to cash in.

Made some good money along the way (Halifax, AA, Staffs, Portman, Standard Life, FP, B&B).

Oh forgot Scottish Widows!

6022tivo

ok, today. and last night. I have done Cheshire, Brittania and Derbyshire..

Any others that are easy to open, worth a punt at the moment.

6022tivo

I have enjoyed opening these new accounts..

Funny also re the Money Laundering regs, 1 of them never chased me for ID. The other two wrote back requiring a letter of address (Bill) and a copy of proof of ID).

Anyway, I have a regular Savings Derbyshire pass book with £150 in it. I remember to get a half decent rate of interest I have to regulary save..

So do I just setup a standing order from my bank to the passbook??
I assume the next time I go into the branch, the passbook will update with the ammounts.
What are the minimum amounts for the higher rate of interest? I assume it is x pounds a month??


Also, isn't it nice to have a little passbook and plastic walet, have not had one for years.

bristolleedsfan

[quote=6022tivo;10492689Anyway, I have a regular Savings Derbyshire pass book with £150 in it. I remember to get a half decent rate of interest I have to regulary save..

So do I just setup a standing order from my bank to the passbook??
I assume the next time I go into the branch, the passbook will update with the ammounts.
What are the minimum amounts for the higher rate of interest? I assume it is x pounds a month??


.[/quote]


Minimum 10.00 a month, u need to find out Standing Order Info etc.

U might as well have just stuck 100.00 in an I-Saver and left it there IMO.

http://www.thederbyshire.co.uk/savings/regular_savings/regular_savings_account.aspx?ekmensel=2152299f_24_30_btnlink

http://www.thederbyshire.co.uk/savings/online_savings/isaver.aspx

wiseoldowl_3

On the question of carpetbagging, the merger of two societies does not create a windfall. Windafll shares, such as paid by Halifax et al, were in payment for the loss of membership (and ultimately reflecting a member's part ownership of) the society. A merger between societies just creates a new society and membership continues (just of the new business), there is no issuance of shares or loss of membership to be compensated for.

Milarky

wiseoldowl wrote: »

On the question of carpetbagging, the merger of two societies does not create a windfall. Windafll shares, such as paid by Halifax et al, were in payment for the loss of membership (and ultimately reflecting a member's part ownership of) the society. A merger between societies just creates a new society and membership continues (just of the new business), there is no issuance of shares or loss of membership to be compensated for.

But there can be a pay out from reserves of either society. Yes, it depends on the boards, but in order to get a 75% yes vote - against the vocal "WE want to stay a local independent society, not sell oot to that big unfriendly society with 8 branches" brigade - they are likely to offer such sweeteners...

Personally, I like CAF very much, and send them what I can. But if by late-joining many building societies with signaways that benefits the CAF that'll do me too! The irony is that mass carpetbagging dilutes the the non-signaway members' shares in any demutualisation. IF signaways were for real (look at Standard Life) they can become self-defeating for boards - so it is rather convenient for boards that they can take them away without member approval just as easily as they brought them in (without member approval)

DemiDee

I just came to the board knowing that there would be something on here about carpetbagging! I opened about ten accounts in 1997 and thus have around £1000 tied up in building soc accounts. Recently, I've been wondering whether to draw it all out and put it in Bonds or something, since it's unlikely there will be any more mergers. I don't need the cash, but I'm tired of keeping the passbooks without reason.

However, since looking at this thread, it's made me think again. Is there really any hope in carpetbagging, or should we all just be putting that distributed cash into somewhere that will either earn some interest or perhaps give us a £50 or so on the Premium Bonds. At the moment, managing all of the cashbooks seems like a lot of effort for little reward!

Dee

quinlanmd

DemiDee, you may have overlooked that a Catholic/Chelsea merger was announced only yesterday subject to approval which will see some form of payment to Catholic BS members.:beer:

That probably answers your question?