If you don't have easy access to one of our branches, our postal account could be right for you. All withdrawals and deposits are handled centrally, using the postal service, or if you select an optional LINK card, through ATMs throughout the UK. In addition, you have the option to manage your account online.
Postal Saver is a tiered account, which means the more you save the higher the rate of interest you will receive. You will need £100 to open an account and you will need to keep at least £100 in the account to keep it open. Once your balance reaches £1,000, £10,000, £25,000, £50,000 and £100,000 the rate increases. The maximum amount you can invest is £2,000,000.
Interest is paid monthly or annually on the 31st March. You have the choice of adding your annual interest to your postal account or having it transferred directly into another account. Your monthly interest can be transferred to another account to provide a regular income.
Having a LINK card allows you 24 hours a day access to over 30,000 LINK cash machines throughout the UK. The high streets of most major towns have cash machines displaying the distinctive LINK logo which also appears on your LINK card.
You can check your account balance through any LINK machine, and you can also order a mini-statement through any of our own cash machines.
We don't apply transaction charges on your Postal Saver account for using LINK cash machines.
You have the option to manage your account online. For example, you can check your balance, transfer money to another account or view your tax and interest rate details. To take advantage of this facility, you will need to register for online services once you have opened the account. Find out more about what you can do online.
You can pay money into your account or take money out with no loss of interest. The minimum deposit by post is £100. If you make a withdrawal by post, the money is sent to you in the form of a cheque and the minimum withdrawal is £100. You can, however, take between £10 and £250 per day in cash from a LINK cash machine.
| Account Name | Postal Saver |
|---|---|
| Interest rates (AERs) | Variable tiered rate paid annually or monthly, view interest rate |
| Tax Status |
or
|
| Conditions for bonus payment | N/A |
| Withdrawal arrangements | Minimum postal withdrawal £100. Subject to daily withdrawal limits |
| Access | Post, ATM or Online |
Whether you can benefit from gross, net or tax free interest is dependent on your own personal circumstances and tax status and so may be subject to change in the future.
Interest rates are variable. All rates shown are per annum.
Gross rate p.a.
Interest rate payable before any income tax is deducted. It can only be paid subject to the required registration.
Net rate p.a.
Interest rate payable after the deduction of income tax, at the lower rate of 20%.
AER
AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest was paid and added each year. This will enable you to compare more easily the return you can expect from your savings over time.
Postal Saver account must be opened by post. This account can only be operated by post, but you will be able to view statements, account balance and recent transactions online.
Note: When applying for a YBS account you will need to verify your identity and address. Check our Verifying your Identity section for more details of what you need to provide with your application.
Yorkshire Building Society is one of the largest building societies in the UK. We offer a range of financial products and services including: savings & investment accounts, insurance products, loans, mortgages and more.
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Yorkshire Building Society is authorised and regulated by the Financial Services Authority (FSA).
