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Family Building Society: Savings reviews

Name: Savings
Rating: 4.43 (638 reviews)

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4.50

Based on 638 reviews, last reviewed 29th Nov 2024

165% increase in 5 star reviews

in the past 90 days

No new 1 star reviews

in the past 90 days

72%

14%

Latest highest rating:

5

Competitive Rates with added offers The society offers excellent rates with some additional benefits. Customer service both via phone and in branch is most attentive. Reviewed on: 29th November 2024

Latest lowest rating:

2

I shouldn't have to get in touch and wait several da... I shouldn't have to get in touch and wait several days to get a statement Reviewed on: 7th October 2024

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About this product

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

Family Building Society Savings reviews (638)

Review of the Family Building Society, Savings:

IT'S GOING DOWN!

For those of us who stayed loyal to the Society's Windfall Bond during its uncompetitive days when the interest rate fell to 0.1% (being paid at Bank Rate), what a disappointment it is (now that the bank rate has risen substantially) that the Society is giving itself the right to pay less than bank rate from October, and that notice of this rather major change is tucked away towards the end of the second page of it's advisory letter. We lost out at 0.1% knowing that the bank rate would eventially rise, but I'll predict will not gain for long on its return to a competitive rate thanks to this rather disappointing, unecessary, change! Family values? I'll be checking and reporting future changes on here. Reviewed on: 22nd July 2024

Reply from Family Building Society Dear customer We're sorry to hear that you’re unhappy with our updated Windfall Bond T&Cs. The Windfall Bond has always had potential to pay less than Bank of England Bank Rate, and this isn’t a new change within this cohort of T&C changes. What we have changed is when we are able to review the linkage to Bank of England Bank Rate. Previously this was constrained to an annual review every November, which we have now changed, so it could be any time (from 1st October onwards). It’s also been a number of years since the Bank of England Bank Rate was at 0.10% (2020 to 2021). The Windfall Bond has been paying 5.25% since 1st September 2023 (reflective of the Bank of England Bank Rate changing to 5.25% in August 2023). Although you may be concerned about the interest rate paid, Windfall Bond savers also have the opportunity of winning a prize of up to £50,000 each month. The monthly free prize draw (and therefore the chance of winning a prize) continued throughout the period when Bank of England Bank Rate was at its historic low in 2020. Whilst we have made several enhancements to the monthly free prize draw (in addition to changing when we are able to review the product’s linkage to Bank of England Bank Rate), if you are unhappy with the new changes, you can give us notice and close your account before the new T&Cs are effective on 1st October. Please contact us by telephone if you wish to set notice to close your account. Kind regards Family Building Society Response date: 25th July 2024

Very professional and most accommodating

Very professional and most accommodating Reviewed on: 17th October 2024

Reply from Family Building Society Thank you for leaving us this review, it's great to hear you found us very professional and accomodating! Response date: 21st October 2024

A thoroughly friendly and efficient organisation.

A thoroughly friendly and efficient organisation offering an exciting investment. Exciting because every month there is the chance of a cash prize from my investment whilst earning a good chunk of interest. Long may it continue. Reviewed on: 15th October 2024

Reply from Family Building Society Thank you for taking the time to leave us this review, we're so pleased to hear your positive feedback! Response date: 16th October 2024

Windfall Bond Win

I recently won a Windfall Bond of £1000. Reviewed on: 8th October 2024

Reply from Family Building Society Thank you for your review, congratulations on your win! Response date: 10th October 2024

I shouldn't have to get in touch and wait several da...

I shouldn't have to get in touch and wait several days to get a statement Reviewed on: 7th October 2024

Reply from Family Building Society Dear Tony, We apologise for any inconvenience you may have experienced, please call us directly or schedule a call back for a time that suits you to discuss this further. Our phone lines are open Monday - Friday 9:00am - 5:30pm. Thank you Family Building Society Response date: 7th October 2024

Good communications.

communications are always clear and appropriate. Reviewed on: 5th October 2024

Reply from Family Building Society Thank you for leaving us this review, we're pleased to hear your positive feedback! Response date: 7th October 2024

Saving with confidence

Being senior citizens, it’s important to us to feel confident when saving in banks etc. so when someone recommended the Family Building Society and we lodged with them we have no absolutely no problem with all transactions involving several types of accounts. Reviewed on: 3rd October 2024

Reply from Family Building Society Thank you for taking the time to leave us this review, it's great of your positive experience with us! Response date: 4th October 2024

My simple error produced a situation that worried me.

My simple error produced a situation that worried me. Daniel at the FBS phone resolved it very efficiently and courteously Reviewed on: 3rd October 2024

Reply from Family Building Society Thank you for leaving us this review, it's great to hear you found us efficient! Response date: 4th October 2024

Savings enquiry fully answered.

The telephone was answered quickly and the lady who dealt with the enquiry did so very efficiently. Reviewed on: 3rd October 2024

Reply from Family Building Society Thank you for leaving us this review, it's great to hear you found us efficient in helping you! Response date: 4th October 2024

Lovely friendly and helpful lady on a phone call

Lovely friendly and helpful lady on a phone call Reviewed on: 30th September 2024

Reply from Family Building Society Thank you for leaving us this review, it's great to hear you found us helpful and friendly! Response date: 4th October 2024

Excellent service

Great. Dillon was very helpful. Only improvement would be a short hold time prior on the phone. Reviewed on: 27th September 2024

Reply from Family Building Society Thank you for leaving us this review, we're pleased to hear you found our service excellent! Response date: 30th September 2024

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