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Family Building Society: Savings reviews

Name: Savings
Rating: 4.45 (700 reviews)

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4.55

Based on 700 reviews, last reviewed 10th Apr 2025

71% increase in 5 star reviews

in the past 90 days

No new 1 star reviews

in the past 90 days

74%

13%

Latest highest rating:

5

A fair interest rate A fair interest rate compared to many other Building Societies. Reviewed on: 10th April 2025

Latest lowest rating:

1

Read my review and don't take out a 5 year bond.. I had a 5 year bond with the society which expired mid october 24. As I was out of the country at the time, the society decided to reinvest my money ... Read more Reviewed on: 30th December 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.

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Family Building Society Savings reviews (700)

Taditional Values

I was looking for a well established Building Society with traditional values, excellent customer service, very good interest rates and products to place my life savings after I retired. Not only did they tick all the boxes they exceeded my expectations! Reviewed on: 28th November 2018

Reply from Family Building Society Hi Louli, thank you for taking the time to leave us a review and give us your feedback. We really appreciate it. Thanks, Vicky Response date: 15th February 2019

Good range of products

Family Building Society communicate well without inundating you with emails. They have a good range of products and the interest rates are usually comparable with other companies. The windfall bonds I think are quite unique and although not high interest give you the chance of winning one of the prizes so while interest rates are low are worth a shot. Reviewed on: 28th November 2018

Reply from Family Building Society Hi there, thank you for taking the time to leave us a review and give us your feedback. We really appreciate it. Thanks, Vicky Response date: 15th February 2019

Competitive rates, great service

I have a fixed rate savings product which has had competitive rates. I am pleased with the level of communication and service with FBS and their fairness in business. Reviewed on: 24th November 2018

Reply from Family Building Society Hi there, thank you for taking the time to leave us a review and give us your feedback. We really appreciate it. Thanks, Vicky Response date: 15th February 2019

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 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. Reviewed on: 6th November 2018

Reply from Family Building Society Hi Charlotte, thank you for taking the time to leave us a review and give us your feedback. We really appreciate it. Good luck with your Windfall Bond! Kind regards, Vicky Response date: 15th February 2019

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. Reviewed on: 1st November 2018

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. Response date: 8th November 2018

Astonishingly Incompetent

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. Reviewed on: 15th September 2018

Savings

My wife tried to open a savings account with payment from her Direct Debit cards (in branch), but that payment method was refused. Why? Paying by cheque seems to her to be rather out dated. Reviewed on: 19th August 2018

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. 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.) Reviewed on: 20th December 2017

Windfall

Just like premium bonds with interest. Reviewed on: 16th November 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 draw. I wrote to ask how many bonds were actually purchased, but they refused to disclose this. Reviewed on: 12th February 2017

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