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  • FIRST POST
    • aj23
    • By aj23 26th Jan 18, 10:20 AM
    • 943Posts
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    aj23
    Leeds Building Society Regular Saver (Issue 4)
    • #1
    • 26th Jan 18, 10:20 AM
    Leeds Building Society Regular Saver (Issue 4) 26th Jan 18 at 10:20 AM
    Does anyone have, or have had, this account? I'd like to know what happens when you reach 6,000, as I am close to doing. It was 2.3% (incl. bonus) and November was increased to 2.55% as a result of the base rate increase.

    Their terms say you can't exceed a 6,000 deposit (excluding interest accrued). There isn't a fixed term on the account, as you can deposit between 50 and 250 a month, so 50 a month would take 10 years to reach 6,000, and 250 a month 2 years.

    Their terms say nothing about a maturity account upon reaching 6,000, unlike Issue 5 through 11, which had fixed terms of 24 months and then 12 months (6,000 and then 3,000) and then into a maturity (0.5%) account at the end of the term.

    I interpret my issue 4 terms as me continuing to get 2.55% even after I cannot deposit beyond 6,000, due to there being nothing mentioned about maturity. I ask because it would make the different of me moving it elsewhere upon reaching it, as 0.5% is 30 a year for the maturity account, whereas I could beat that elsewhere. If it stays at 2.55%, I'd leave it there.

    Am I right or wrong? They released issue 4 in Sept 2016 so no one would have reached 6,000 yet, but I'm not sure if this also applied to issue 1, 2 or 3 (if anyone had those, or still has them despite reaching the maximum operating balance).
    Last edited by aj23; 26-01-2018 at 2:40 PM. Reason: typo
Page 10
    • Nasqueron
    • By Nasqueron 8th Jan 19, 4:08 PM
    • 6,517 Posts
    • 4,009 Thanks
    Nasqueron
    Sent my last payment off today. Will be end of an era. Ha.
    Originally posted by aj23

    Not quite for everyone, the final monthly saver ends in December this year, last dregs of money saving for me too though, going to close my Halifax one when it ends next week and keep the cash in the Santander 123 for the moment (just have the LBS / Satander saver running) just for Brexit and to get a bit more interest to cover the fee
    • aj23
    • By aj23 8th Jan 19, 4:29 PM
    • 943 Posts
    • 296 Thanks
    aj23
    Not quite for everyone, the final monthly saver ends in December this year, last dregs of money saving for me too though, going to close my Halifax one when it ends next week and keep the cash in the Santander 123 for the moment (just have the LBS / Satander saver running) just for Brexit and to get a bit more interest to cover the fee
    Originally posted by Nasqueron
    This thread is about Issue 4. Not a monthly saver. So yes quite!

    What's brexit got to do with this?
    • Nasqueron
    • By Nasqueron 8th Jan 19, 4:37 PM
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    Nasqueron
    This thread is about Issue 4. Not a monthly saver. So yes quite!

    What's brexit got to do with this?
    Originally posted by aj23

    Just that people talking about Leeds BS savers in general as the 4 is only a couple of years, doesn't really seem like an era. Brexit - just the general issue of not having as many savings tied up for the inevitable crash
    • aj23
    • By aj23 8th Jan 19, 4:41 PM
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    • 296 Thanks
    aj23
    Just that people talking about Leeds BS savers in general as the 4 is only a couple of years, doesn't really seem like an era. Brexit - just the general issue of not having as many savings tied up for the inevitable crash
    Originally posted by Nasqueron
    Well given that Issue 4 was the last reg saver to last more than 12 months, and was extended from it's 2 years for another 5 months, some of us have been saving into it since September 2016.

    There won't be a crash. But that's another thread.
    • aj23
    • By aj23 11th Jan 19, 9:55 AM
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    aj23
    Has anyone had a letter?
    • Wheres My Cashback
    • By Wheres My Cashback 11th Jan 19, 3:51 PM
    • 3,177 Posts
    • 38,152 Thanks
    Wheres My Cashback
    Has anyone had a letter?
    Originally posted by aj23
    Letters will arrive next week requesting what to do with funds upon maturity.
    However there is no need to wait for it if you you already know what you want. You can give instructions now via secure message which will be immediately actioned come 31/01 as has happened with all previous RS.

    The only unknown right now is what the 'new' account rate will be, but, I'd hazzard a guess that it won't be anywhere near a market leading rate.
    • aj23
    • By aj23 11th Jan 19, 4:52 PM
    • 943 Posts
    • 296 Thanks
    aj23
    Letters will arrive next week requesting what to do with funds upon maturity.
    However there is no need to wait for it if you you already know what you want. You can give instructions now via secure message which will be immediately actioned come 31/01 as has happened with all previous RS.

    The only unknown right now is what the 'new' account rate will be, but, I'd hazzard a guess that it won't be anywhere near a market leading rate.
    Originally posted by Wheres My Cashback
    I can't send a secure message. I'm happy for it to mature into an easy access for the time being.
    • alibknits
    • By alibknits 13th Jan 19, 9:34 PM
    • 2 Posts
    • 27 Thanks
    alibknits
    When I called last week I was advised that letters would be going out at the end of the week and would include details of an exclusive bond (I think an interest rate of 1.75% was mentioned) and possibly also another offer.
    • karlie88
    • By karlie88 16th Jan 19, 11:59 AM
    • 8,751 Posts
    • 108,042 Thanks
    karlie88
    Leeds BS RS Issue 4 letter received today. Account changes to an access saver paying 0.5%

    Other options are:

    1. Move balance across to a 1 year fixed rate bond paying 1.75% (only available to those with Issue 4 reg saver).

    2. Transfer to another Leeds BS savings account.

    3. Close account.

    4. Move savings across to another bank/BS.

    The letter will have a link for you to submit your maturity instructions up until 31st Jan.

    Option 4 for me, there are better 1 year fixed rate accounts out there. Shame that they withdrew their fairly competitive RS.
    Official MSE canny forumite and HUKD VIP badge member
    • moi
    • By moi 16th Jan 19, 1:01 PM
    • 919 Posts
    • 4,562 Thanks
    moi
    Leeds BS RS Issue 4.
    Leeds BS RS Issue 4 letter received today. Account changes to an access saver paying 0.5%...

    The letter will have a link for you to submit your maturity instructions up until 31st Jan.
    Originally posted by karlie88
    Are they giving a personal URL, or do they just state this general one:
    https://www.leedsbuildingsociety.co.uk/savings/maturity/forms/
    ?
    • karlie88
    • By karlie88 16th Jan 19, 2:07 PM
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    karlie88
    Are they giving a personal URL, or do they just state this general one:
    https://www.leedsbuildingsociety.co.uk/savings/maturity/forms/
    ?
    Originally posted by moi
    My link has 'jan' in it, presumably January, and 3 numbers.
    Official MSE canny forumite and HUKD VIP badge member
    • glider3560
    • By glider3560 17th Jan 19, 7:57 PM
    • 3,721 Posts
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    glider3560
    My link has 'jan' in it, presumably January, and 3 numbers.
    Originally posted by karlie88
    Could you post the link?

    The last one I was sent is http://www.leedsbuildingsociety.co.uk/savings/maturity/oct232/ (for Issue 9), but that doesn't accept instructions any more.

    • veryintrigued
    • By veryintrigued 17th Jan 19, 9:17 PM
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    veryintrigued
    My link has 'jan' in it, presumably January, and 3 numbers.
    Originally posted by karlie88
    Mine is the same and the fact that you have to enter all your details (including account number) makes me think the link is a generic one.

    I won't be sharing it though - just in case!
    • YorkshireBoy
    • By YorkshireBoy 17th Jan 19, 9:45 PM
    • 30,419 Posts
    • 18,319 Thanks
    YorkshireBoy
    Mine is the same and the fact that you have to enter all your details (including account number) makes me think the link is a generic one.

    I won't be sharing it though - just in case!
    Originally posted by veryintrigued
    Do the numbers add up to 23?
    • veryintrigued
    • By veryintrigued 17th Jan 19, 10:19 PM
    • 2,655 Posts
    • 2,221 Thanks
    veryintrigued
    Do the numbers add up to 23?
    Originally posted by YorkshireBoy
    They do indeed.

    Sounds even more like it's the same link.
    • Barney1954
    • By Barney1954 18th Jan 19, 11:20 AM
    • 11 Posts
    • 11 Thanks
    Barney1954
    I sent a secure message yesterday with my maturity instructions and received confirmation today that funds will be paid into my nominated account on maturity.
    • aj23
    • By aj23 18th Jan 19, 11:47 AM
    • 943 Posts
    • 296 Thanks
    aj23
    Is there an option to let it mature into the easy access, or is that the automatic option?
    • schiff
    • By schiff 18th Jan 19, 11:56 AM
    • 18,306 Posts
    • 9,749 Thanks
    schiff
    Is there an option to let it mature into the easy access, or is that the automatic option?
    Originally posted by aj23
    The first para of the letter says it will be 'moved into our Access Saver account'. Automatically
    • aj23
    • By aj23 18th Jan 19, 12:01 PM
    • 943 Posts
    • 296 Thanks
    aj23
    The first para of the letter says it will be 'moved into our Access Saver account'. Automatically
    Originally posted by schiff
    Thanks. I'll do that for the time being. So I wouldn't have to notify them of that?
    • Nasqueron
    • By Nasqueron 18th Jan 19, 12:05 PM
    • 6,517 Posts
    • 4,009 Thanks
    Nasqueron
    Mine is the same and the fact that you have to enter all your details (including account number) makes me think the link is a generic one.

    I won't be sharing it though - just in case!
    Originally posted by veryintrigued

    If it's a generic link like http://www.leedsbuildingsociety.co.uk/savings/maturity/oct232/ but with jan*** then it won't reveal any personal details nor give any risk at all to yourself. Anyone without login details simply won't be able to proceed
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