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Family Building Society Reviews

Ratings based on 7 reviews Last review 2 weeks ago
3.57 / 5Great overall rating

Family Building Society is a financial organisation specifically designed to help families who can work together to use their money and their assets more successfully. Smart Money People is the place for the Family Building Society reviews. Read and...

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Family Building Society is a financial organisation specifically designed to help families who can work together to use their money and their assets more successfully. Smart Money People is the place for the Family Building Society reviews. Read and write reviews to help increase trust and transparency in Financial Services.

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Your Family Building Society Reviews (7)

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6th November 2018

A new way to buy savings bonds

Having been a holder of Premium Bonds for several years, I was very interested to see this alternative version offered by the Family Building Society. The odds of winning are better than HS&I Bonds, although the "jackpot" is less and you have to buy...

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Having been a holder of Premium Bonds for several years, I was very interested to see this alternative version offered by the Family Building Society. The odds of winning are better than HS&I Bonds, although the "jackpot" is less and you have to buy in minimum quantities of ten thousand pounds. The process of buying was simple, secure and straight forward. No wins yet, but I am playing a waiting game before I finally make my mind up about this product.

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1st November 2018

Credits Delay

It takes nearly 24 hours for Fast Payment transfers from a nominated bank account to the designate Family Building Society account, which in present day and time, is unduly slow. Theoretically, a saver loses out on a day's interest.

Reply from Family Building Society
Hi, thanks for your review and feedback. We are aware that sometimes you may not see the Faster Payment on your account until 24 hours after it has been sent, but please be assured that there is no loss of interest due to this. We are currently making improvements to speed up the time that the Faster Payment shows on your account. If you have any further questions, please call our Family Service Team on 03330 140144.
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15th September 2018

Astonishingly Incompetent

Introduced a new online system so we had to re-register for...

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Introduced a new online system so we had to re-register for it.
After jumping through all the hoops required to register, waited for a verification code to be sent by snail mail. When it arrived, the code was invalid. Found an email that Google had decided was spam, which admitted that they had send incorrect codes.
You really couldn't make it up. Such an amateurish outfit.
Oh, and despite the base rate going up 0.25% they are only passing on 0.09%.
Time to move on.

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20th December 2017

No fuss ISAs

I was fed up with banks changing the ISA rate after the initial year and giving derisory rates. It was such a fiddle to change the provider. The Family Building Society market tracker ISA gives a reasonable rate and saves constantly swapping around....

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I was fed up with banks changing the ISA rate after the initial year and giving derisory rates. It was such a fiddle to change the provider. The Family Building Society market tracker ISA gives a reasonable rate and saves constantly swapping around. You could get a slightly better rate if you are inclined to shop around, but there's not much in it. ( Disclosure: I also do some work for the FBS.)

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12th February 2017

Disappointing. Very low number of winning bonds.

They claim to have 13 winning draws from the 10,000 bonds each month (1 x £50.000, 2 x£10,000 and 10 x£1000; but in 2015 there were only 12 winners in total for the whole year and in 2016 just 22 winners for the total year, including 3 in a January bonus d...

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They claim to have 13 winning draws from the 10,000 bonds each month (1 x £50.000, 2 x£10,000 and 10 x£1000; but in 2015 there were only 12 winners in total for the whole year and in 2016 just 22 winners for the total year, including 3 in a January bonus draw. I wrote to ask how many bonds were actually purchased, but they refused to disclose this.