In this brief guide, we will talk about the YBS regular saver. The YBS regular saver may be relevant if you are looking to stash your savings for good returns.

What is the YBS regular saver?

The YBS regular saver is a financial product from the Yorkshire building society.

Who are the Yorkshire building society?

Yorkshire Building Society (YBS) is the third-largest building society in the UK, with more than 3 million customers and £42 billion in assets.

It has experienced significant growth over the past 10 years and on-boarded over 1.5million customers from the UK  in the past 10 years. The Yorkshire building society is based in Yorkshire with its headquarters on the outskirts of Bradford.

The Yorkshire building society offers a range of financial products including the YBS regular saver.

The YBS regular saver offers two savings products, the YBS Child regular saver and the YBS monthly regular saver issue 2.

The YBS child regular saver

“Child’s Regular Saver

3.80%

gross p.a./AER variable

Save from £10

Annual interest

Allows withdrawals on one day per account year based on the anniversary of account opening. You may close your account at any time even if you have used your withdrawal day

Save up to £100 in the first calendar month of account opening and £100 per month after that in this 1-year account

Only one account per child (under 18 years old) to be held in trust

£100 per month saved at 3.80% gross p.a./AER would lead to gross interest of £24.80 at the end of the 12 month period”

The YBS monthly regular saver issue 2

“Monthly Regular Saver: Issue 2

2.50%

gross p.a./AER variable

Save from £10

Annual interest

Allows withdrawals on one day per account year based on the anniversary of account opening. You may close your account at any time even if you have used your withdrawal day

Save up to £250 per month for 1 year

£250 per month saved at 2.50% gross p.a./AER would lead to gross interest of £40.79 at the end of the 12 month period

Register to manage your account online”

Should you open a YBS regular saver account?

When comparing savings accounts there are a few important things you should consider.

Some of these things are:

The interest rate being charged on the account( in this case the interest rate being charged on the YBS regular saver accounts)

The withdrawal fees attached to the account and the terms of withdrawal

The access to cash. In essence, how easily can you get access to your cash if you need money for a financial emergency?

Any rewards and loyalty schemes offered by the savings account.

You can view more detailed information about the YBS regular saver account here: 

YBS regular saver

Does Yorkshire Building Society have online or mobile banking?

Yorkshire Building Society has online banking, but does not have a dedicated mobile app.

Some of the things you can do with the Yorkshire building society online banking service are:

View your latest transactions

Move your money between accounts quickly and easily

Change your details with ease

Get in contact with the bank securely

Keep up to date with the latest news for Yorkshire building society

What are the benefits of banking with Yorkshire Building Society?

The Yorkshire Building Society has Online banking. This means you can access all your accounts online. Make payment requests online and view your transaction history online.

The Yorkshire Building Society also have a variety of savings account which can help you grow your savings.

Your savings with the Yorkshire Building Society are also protected by the financial services compensation scheme up to £85,000 per account.

The Yorkshire Building Society also has a high street presence which means you can get in touch with them easily by going directly into a branch.

What are the drawbacks of banking with Yorkshire Building Society?

Yorkshire Building Society does not have a mobile app and this means you won’t have access to your accounts when  you are on the move.

In this brief guide, we discussed the YBS regular saver. If you have any questions or comments please let us know.

John Bate

John has 22 years of experience in financial services. This spans across financial research, financial services (As a qualified mortgage broker and underwriter), financial trading and sales at global investment banks. While working as a publishing research analyst, he covered European bank credit and advised institutional clients on investment strategies at both JP Morgan and Societe Generale. John has passed all three levels of the CFA (Chartered Financial Analyst) programme.