Yorkshire building Society gripe

tabitha67

We had a Regular Saver account with YBS - deposit every month, make no withdrawals and earn extra interest. We deposite £500.00 every month for a year, then found we hadn't received the extra bonus interest because our payment to them for June 2007 arrived on 31st May, 1 day early.

We complained to YBS but they advised our deposits did not meet criteria laid down for account. I was also annoyed that we did not find out we had lost bonus interest until 12 months after the fact - we were not given the chance to withdraw funds and deposit somewhere we could have received a decent return.

Needless to say, the account is now closed.

JohalaReewi

31st of May was a saturday so how can that be? Surely it would arrive on a banking day?

Edit: You mean 31 May last year ??

tabitha67

Yup, 31 May 2007

lavamoney

Can i just ask what rate you were expecting? I opened a Yorkshire BS account last june as i'm sure i saw a rate of 9% including a bonus if you didnt withdraw for 12 months and made regular payments.

I did this because i'd already used my Cash ISA allowance.

I rang today to find out how to withdraw and was told the account was never at 9% even including a bonus. At that it was at 6.3 now. Obviously these are gross rates, but i was expecting 9% Gross and then after tax to still be a good investment.

It was mentioned on the moneysavingexpert site under the savings page but i cant find the email or historic page. Can anyone else? It would have been around may last year.

TomsMom

lavamoney wrote: »

Can i just ask what rate you were expecting? I opened a Yorkshire BS account last june as i'm sure i saw a rate of 9% including a bonus if you didnt withdraw for 12 months and made regular payments.

I did this because i'd already used my Cash ISA allowance.

I rang today to find out how to withdraw and was told the account was never at 9% even including a bonus. At that it was at 6.3 now. Obviously these are gross rates, but i was expecting 9% Gross and then after tax to still be a good investment.

It was mentioned on the moneysavingexpert site under the savings page but i cant find the email or historic page. Can anyone else? It would have been around may last year.

Rate at that time was 7% gross including bonus. OH and I both opened one then after seeing it on here.

It is currently 6.35% including bonus, 2.85% excluding bonus.