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Skipton Building Society: Savings reviews

Name: Savings
Rating: 4.25 (57 reviews)

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4.06

Based on 57 reviews, last reviewed 7th Oct 2024

No new 5 star reviews

in the past 90 days

100% increase in 1 star reviews

in the past 90 days

57%

25%

Latest highest rating:

4

A clunky not so ethical building society Has some great products including low value fixed savings, and reg savers, plus the app is easy to use. One of my accounts matured, but getting the mo... Read more Reviewed on: 9th September 2024

Latest lowest rating:

1

Cannot transfer funds, no customer service solution My Husband has (soon to be had) a savings account with Skipton for 1 yr. He wanted to move some funds but the app said he needed to use his nominated ... Read more Reviewed on: 7th October 2024

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About this product

Skipton Building Society savings reviews can help you to find out more about life at Skipton Building Society. How easy is it to contact Skipton Building Society? And how friendly are they? Our Skipton Building Society savings reviews can help you to find out information like this. Smart Money People is an independent source of honest reviews.

Skipton Building Society Savings reviews (57)

Review of the Skipton Building Society, Savings:

ROBBING LOYAL CUSTOMERS!

Skipton's approach these days seems to be to constantly degrade existing customers accounts to ensure they pay less interest than they do new customers (Beware new customers, your time will come!). In the case of my ISA an account opened last year had been degraded to about 75% of the rate offered new investors! And account had already been changed by me last year because exactly the same had happened then! If you don't keep checking, you lose interest. If you do check, you waste time going in to "upgrade" account , causing inconvenience, and extra CO2 caused by extra unnecessary visits! They say they all do it, but compare Nationwide and Family/National Counties who have treated loyal customers fairly throughout. When it's re-opened, it's the same money as before, but change is necessitated by Skipton constantly moving the Goal posts. Come on Skipton, start treating long term loyal customers fairly. You wouldn't be there without us! Reviewed on: 1st November 2022

Invaluable when not much choice out there

When searching for a way to save for a house 3 years ago, Skipton were one of the few offering lifetime ISAs. They have allowed me to save consistently and securely. Reviewed on: 24th March 2021

The Lifetime ISA is the Gift that Keeps on Giving

I have been a Skipton Building Society customer for over 3 years now, and it is without a doubt one of the best decisions I have made in my adult life. The first product I used was the Lifetime ISA. Without this account I would not be the position I am in right now where I can put in offers on properties to buy. The 25% interest applied to any savings is frankly incredible! The fact that savings in a Lifetime ISA can only be withdrawn (without penalty) for a first-time buyer mortgage or retirement has been fantastic as it has allowed me to commitment to saving for my future. Admittedly, without the penalty I may very well have wasted a significant proportion of my savings instead of securing it for my future. I will be forever grateful for this product from Skipton Building Society and I know that it has given me the 'leg up' that I needed towards being able to buy my first home! Reviewed on: 9th July 2020

Interest rates dropped through the floor

After being with Skipton for 3 years and the BoE rate drop the rates applied to the isa have dropped steeply. Reviewed on: 27th April 2020

Lifetime isa

An excellent product which sees the government reward you for saving by adding to your savings in line with the amount that you save up to a maximum of £4,000.00 per year for a set period of time within prescribed timescale. All money paid out when you reach age 60 years, ideal savings plan to benefit you at retirement. Reviewed on: 9th February 2020

Quit renting

Great way to focus on getting money into an account and it costs more to withdraw, provides a focus if saving for something like a first home Reviewed on: 24th January 2020

Lisa

A really great experience with Skipton. Fantastic from start to finish and helped me on the journey to owning my own house Reviewed on: 22nd November 2019

Local

A few local branches, however interest rates have been decreasing Reviewed on: 22nd November 2019

One of the few products on the market

Competitive rate with the other 2 products on the market for Cash LISAS Reviewed on: 15th April 2019

Lifetime Isa for first home

One of the few banks to offer a lifetime isa and make it easy to understand through their website. The ISA can be managed online and email notifications let you know when the bonus is being applied. Very good and informative bank making it easy for young professionals to hop onto the property ladder. Reviewed on: 12th January 2019

Great product

Great service, easy to use and have recommended to various friends Reviewed on: 9th January 2019

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