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Anindya L

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Review of the Family Building Society, Savings:

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Total wastage of money and time

Total wastage of money and time. I have had this account for many years with not a single penny in prize or interest to show for it. I am going to close my account now. If I put that money in premium bonds or an ordinary savings account, I would have gained thousands in all these years, I have premium bonds and other savings accounts, so I know what I am talking about. Reviewed on: 18th May 2026

Reply from Family Building Society Thanks for taking the time to leave a review. We are sorry to hear your frustration. It’s important to note that this type of account works differently from traditional savings products or Premium Bonds. Rather than earning guaranteed interest, the returns are based on prize draws, so there’s no certainty of winning. As outlined in our terms: “Winners will be selected at random from all entries to each monthly draw by an independent third party appointed by the Society.” This means that, while some members do win prizes, others may not receive returns over a period of time, even if they’ve held an account for many years. We appreciate that you’ve compared this with other savings options you hold, and it’s completely understandable to review whether a product is right for you. If you would like, we can provide information on alternative accounts that may offer more predictable returns or help you make the most of your savings going forward. Kind regards Family Building Society Response date: 20th May 2026

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