Yorkshire BS Rate Changes From 27th April

LittleVoice

Suzey wrote: »

Can someone please remind me:

- what's the minimum balance for a Regular Saver?
- I've got an Internet Saver but seem to remember this was just to fulfil the requirements for another account - can anyone confirm? (Or was it just so I could get Internet banking? I can't remember!)
- how do I get my money out of my Regular Saver? Can I do BACS via Internet banking or do I need to go to a branch?

TIA

Suze

Hi

The YBS Regular Saver has £10 as minimum balance (equals the minimum monthly payment) but £100 is recommended if it is your only account with them and you work on Yorkshireboy's principle).

If you have registered for online access to your account, you should be able to arrange a BACS payment to another account.

YorkshireBoy

LittleVoice wrote: »

...£100 is recommended if it is your only account with them...

Good point LittleVoice, and one which I forgot to mention.

VIVI_3

am sure this is,nt the way but i cannot seem to find the answers elsewhere(FORGIVE ME IT,S MY FIRST TIME ON HERE)I HAVE AROUND£15000 in capital bonds that aren,t doing so great and would like to transfer to a high interest account/scheme.I am not interested in investing only the sure thing.havind direct access is not an issue any suggestions?

gelato_cat

Thanks guys. What's the £100 thing about - carpetbagging?

Suze

LittleVoice

Suzey wrote: »

Thanks guys. What's the £100 thing about - carpetbagging?

Suze

The £100 gives you voting rights.




... and yes to ensure there is an entitlement to something in the event of a merger or conversion if voting members receive a payout.

RayWolfe

YorkshireBoy wrote: »

..... you'll see you have an option to transfer out by BACS (4-5 day wait though!!).

Is that 4-5 days a definite? I'm going to do a transfer Monday and was hoping for just the normal BACS 3 days.

YorkshireBoy

RayWolfe wrote: »

Is that 4-5 days a definite? I'm going to do a transfer Monday and was hoping for just the normal BACS 3 days.

If you mean action Monday to arrive Wednesday, then you've no chance Ray...unless the destination account is with NatWest maybe?

They have improved on transfer times since I started banking online with them, but even my recent transfers have taken 4 days, ie action Monday to arrive Thursday. If you action the request late(ish) on Monday afternoon, then expect a Friday arrival.

bristolleedsfan

Suzey wrote: »

Thanks for the interest rate info BLF. I'd kept an eye on their website but no clues. Had a feeling they'd be going down though. Where did you find these nuggets of info?


Suze

Hello Suzey, Ive missed your postings ever since u cancelled your Barclays Tax Beater ISA and went for Egg.

Seems as if uve been pretty well taken care of :dance: , just to answer your one remaining question.

https://www.emoneyfacts.co.uk/news/savings-news.aspx

For people that have a YBS branch convenient to them, getting a cheque and paying in locally would be a quicker process than BACS, I know Bradford and Bingley pay interest on the first day following receipt and maximum period permissible is now 2 days following receipt for interest to start getting paid on cheques paid into savings accounts.

( Cheshire BS are the only apparent exception to the rule that im aware of. )

YorkshireBoy

YorkshireBoy wrote: »

They have improved on transfer times since I started banking online with them, but even my recent transfers have taken 4 days, ie action Monday to arrive Thursday. If you action the request late(ish) on Monday afternoon, then expect a Friday arrival.

The more I think about it Ray, I have always actioned my BACS requests at 00:05 (they do their overnight processing starting around 00:20 for an hour or so) on Monday to arrive on Thursday. If you put your request on after this time, ie anytime on Monday, your request will be held back until Tuesday and WILL arrive Friday.

Hopefully things will change when faster payments come on stream...that is if they still have any customers left by then. :rolleyes:

RayWolfe

Thanks for that YB. Monday for Friday is really bad but that's what I'll do. Probably better than doing it today and losing the W/E. Thanks again for the forewarning,