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Post by davee39 on Apr 1, 2015 12:29:12 GMT
And of course the Yorkshire Building Society does not have an axe to grind. Perhaps withdrawals to P2P are starting to hurt.
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spiral
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Post by spiral on Apr 1, 2015 12:58:25 GMT
That's the best April Fools joke I've seen today 
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adrianc
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Post by adrianc on Apr 1, 2015 13:15:16 GMT
Daily Mail in "Scaremongering misleading guff recycled vested-interest press release masquerading as news" shock! Hold the front page!
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jonbvn
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Post by jonbvn on Apr 1, 2015 14:15:24 GMT
And of course the Yorkshire Building Society does not have an axe to grind. Perhaps withdrawals to P2P are starting to hurt. With these super duper rates on offer, why should they be concerned  www.ybs.co.uk/savings/interest-rates/index.htmlI guess some of the smaller BS's must now be concerned that they may start to lose market share to p2p?
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Post by jackpease on Apr 1, 2015 16:23:25 GMT
>>>>>>scathing Daily Mail report ....
.... based on comments from Yorkshire Building Society - which ties in neatly with comments on another thread about the finance establishment trying to make sure that P2P/B will never become mainstream.
As for comments that consumers don't know the risk, it really is very hard to know what more P2P/B lenders can do to say 'this involves risk'. Wellesley's 'scroll down and read this or else you can't buy' is quite a neat way of ensuring consumers get it.
If the DM want a real P2P/B story, FC's variable maths should do nicely...
JP
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Post by westonkevRS on Apr 1, 2015 18:27:34 GMT
And of course the Yorkshire Building Society does not have an axe to grind. Perhaps withdrawals to P2P are starting to hurt. With these super duper rates on offer, why should they be concerned www.ybs.co.uk/savings/interest-rates/index.htmlI guess some of the smaller BS's must now be concerned that they may start to lose market share to p2p? Don't laugh, but I've got over 30 regular savings accounts with Building Societies. The rates are terrible, but I wanted to know how well the operated and perhaps get lucky with a carpet blag. The truth is most are terribly inefficiently run, and every one of them has reduced the rates on offer to below 1%. Lots are postal only and force you to repeat a bunch of paperwork annually. They are not customer focussed at all, despite what the brand stuff implies. @ westonkevRS
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Post by westonkevRS on Apr 1, 2015 18:32:41 GMT
With quotes like "60% of those questioned didn’t realise their money was not protected by the Financial Services Compensation Scheme" we were interested in the sample. Turns out these are random people and not current P2P lenders. And as only around 2% of the population has ever heard of P2P lending, and probably a similar segment that knows what the FSCS is, I'd say that 40% knowing is pretty damm good! Anyway, my take is that we must be doing something right if they felt the need to spend a load of cash trashing the opposition. Rather than your own brand credentials and savers rates! @ westonkevRS. |
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Post by pepperpot on Apr 1, 2015 18:41:29 GMT
Don't laugh, but I've got over 30 regular savings accounts with Building Societies. I tried, ever so hard... It was the present tense that got me!
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Post by bobthebuilder on Apr 2, 2015 4:22:17 GMT
I'm reading this thread from Thailand, where the Ministry of Information has blocked access to the Daily Mail's site, so they obviously know what a pile of sh*t it is. They don't have any problems with the Daily Mirror, Express or Telegraph sites though.
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spiral
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Post by spiral on Apr 2, 2015 7:40:09 GMT
Anyway, my take is that we must be doing something right if they felt the need to spend a load of cash trashing the opposition. Rather than your own brand credentials and savers rates! @ westonkevRS. One thing I always learnt was that if you tell someone not to do something, they probably will. My take therefore is that it will at the very least, got more people to look at P2P and become aware of it. At best, you might get a few more lenders sign up over Easter.
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oldgrumpy
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Post by oldgrumpy on Apr 2, 2015 7:47:27 GMT
So it's not the "time of the month" forcing rates down in the last few days - it's t'Yorkshire Bill Ding Society in cahoots with The Daily Fail!  Kevin, all is forgiven.  |
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Liz
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Post by Liz on Apr 3, 2015 0:44:28 GMT
Will the mazes ever touch p2p?, I doubt it. Not many even touch equities. And I think you can get at least as good returns in p2p, with possibly less risk and less swings.
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Post by westonkevRS on Apr 3, 2015 11:07:04 GMT
I posted this on my LinkedIN profile ( www.linkedin.com/profile/view?id=19236219 ) in response to the YBS attack: Figures released yesterday by the FCA show volume of formal complaints against Banks and Building Societies. For our friend Yorkshire Building Society Group the numbers show an interesting trend: Number of complaints opened 2011 H2: 5,898 Number of complaints opened 2012 H1: 8,966 Number of complaints opened 2012 H2: 8,767 Number of complaints opened 2013 H1: 7,070 Number of complaints opened 2013 H2: 7,231 Number of complaints opened 2014 H1: 9,103 Source: lnkd.in/dz3anvn |
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Post by bracknellboy on Apr 3, 2015 11:51:58 GMT
yorkshireman: how many of those 9,103 complaints were you responsible for ? :-)
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am
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Post by am on Apr 3, 2015 13:00:06 GMT
The truth is most are terribly inefficiently run, and every one of them has reduced the rates on offer to below 1%. Lots are postal only and force you to repeat a bunch of paperwork annually. They are not customer focussed at all, despite what the brand stuff implies. @ westonkevRS I've got a variety of regular saving accounts with various building societies, with rates varying from 1.75% (IIRC) to 3.75%. The last is with YBS, but it's capped at £20,000. In a year or so's time I'll have all my loose cash in regular savers, and I'll have to reorganise again. If you exclude regular savings accounts (which are difficult to get money into) and term accounts (which are difficult to get money out of), as far as I know YBS's Triple Access Saver is the 2nd best rate available, after Virgin Money's Defined Access Saver. (Various current accounts offer more, but Santander is the only one which pays interest on a decent sized chunk of money. Premium Bonds also currently offer more, but the mean return is not guaranteed.)
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