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First anniversary for the Yorkshire's top savings account

12th June 2012 Print

Yorkshire Building Society savers have voted with their feet - and their passbooks - in favour or a traditional branch-based account.

The Society's Triple Access Saver account, which celebrates its first anniversary this week, has been the Yorkshire's most popular savings account since it was launched in June 2011 - the number of Triple Access Saver accounts opened in the past 12 months is almost three times that of any of the Society's other easy access savings accounts across any channel.

Paying a competitive 2.25% variable return and allowing up to three withdrawals each year without penalty, Triple Access Saver was introduced in response to customer demand.

Research by Yorkshire Building Society found more than three in five customers preferred the traditional branch network as their main method of managing their savings, most frequently citing customer service and convenience as the reasons for this choice.

More than half the Yorkshire's customers preferred to use a passbook to keep track of transactions on their account and almost 70 per cent of those surveyed favoured a branch-based account with a competitive variable rate.

"This time last year there was some scepticism in the media about whether - in the age of internet banking - savers really wanted a simple, traditional passbook account," said Yorkshire's Savings Product Manager Mike Helliwell.

"The fact that Triple Access Saver has been our most popular savings account since its launch speaks for itself - customers appreciate the straightforward terms, ease of use and an attractive, competitive rate without any introductory bonus for a limited period.

"When savers have so much choice in the ways they can manage their money, the popularity of Triple Access Saver reinforces how much customers value great service by choosing a branch-operated account, which bodes well for the 12 new branches the Society is opening over the next two years."

A Triple Access Saver account can be opened and operated at branches of Yorkshire Building Society, Chelsea Building Society or Barnsley Building Society, and Yorkshire Building Society agencies. The minimum opening balance is £100.