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Review of the Bath Building Society, Savings:

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Low Savings Interest Rates

The returns from a Bath Building Society savings account are so derisory it makes it almost not worth saving, you may get a better return by picking up discarded coins from the pavement. This sets a worrying STRONG message in particular to the young that it is NOT WORTH SAVING, which will have bad repercussions for the future of the Bath Building Society and the country. I for one am disappointed by the Bath Building Society message and will NOT forget it in the future, when Bath Building Society may want my money but because of it actions regarding the return on my money now, I will be reluctant to let Bath Building Society use my money at that time in the future. Reviewed on: 4th June 2020

Reply from Bath Building Society Thank you for your feedback. I share your frustration that savings rates are so low at the moment but with the Bank of England base rate at an historic low of 0.10% there is only so much flexibility we have. If you look at all of the rates that are available on the market and comparale, which I do daily, you will see that our rates are competitive, if not market leading. You make an excellent point about encouraging the young to save. If it had not been for the virus we would have already launched a new Regular Saver account aimed at 16-25 year olds available primarily through our branches. Last week we however made the decision to go ahead with this launch in July with our branch staff handing off the opening to our remote staff now working at home. This will be limited to only those aged 16-25, living, working or studying in Bath but will have an interest rate of 4.00% AER. Hopefully this rate will show you how serioulsy we take encouraging the savings habit especially for the young. We have other new products in the pipelines so please keep an eye on your 'in box' Colin McDougall, Head of Marketing and Savings Response date: 5th June 2020

Review of the Bath Building Society, Savings:

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Not impressed

Not impressed that my interest rate went down when I need you most. How you can do it to loyal customers is not the way to keep them Reviewed on: 4th June 2020

Reply from Bath Building Society Thank you for your feedback. Unfortunately we had no option other than to respond to the Bank of England reducing their base rate by 0.65% to a record low of 0.10%. The only way we could not reduce our savings rates would have been to not reduce our mortgage rates which would be the opposite of what the government is trying to achieve in these difficult times and unfair to our mortgage customers. In order to retain our most loyal savings customers we have tried our best to ensure that our rates are competitive and to review them on a regular basis. As a result of such a review last week we have just increased the rate on our 60 Day notice account from 0.60% to 0.80% AER. I am also pleased to advise you that we will soon be launching some competitively priced new products, one of which will only be available to our most loyal customers, so please keep an eye on you 'in box'. Response date: 5th June 2020

Review of the Bath Building Society, Savings:

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excellent service every time

always friendly and professional Reviewed on: 4th June 2020

Reply from Bath Building Society Lovely feedback, thanks so much. Holly, Customer Support Team Response date: 22nd June 2020

Review of the Bath Building Society, Savings:

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Great to deal with.

Always very good administration. Good interest rates (in today’s environment) for maturing fixed rate Bonds. Reviewed on: 4th June 2020

Reply from Bath Building Society So lovely to hear, thanks for taking the time to review us. Holly, Customer Support Team Response date: 22nd June 2020

Review of the Bath Building Society, Savings:

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Great interaction and staff know their products

Great to deal with and staff are polite and knowledable Reviewed on: 4th June 2020

Reply from Bath Building Society Such wonderful feedback, thank you. We really appreciate it! Holly, Customer Support Team Response date: 22nd June 2020

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