Norwich and Peterborough Building Society will cease to exist this year closing most of its branches and re-branding the rest to the parent company Yorkshire Building Society.

They are also getting out of the current account market leaving 100000 customers looking for a new current account ............ me included.

They will however be happy to keep all my savings to lend to other people (not flaming likely)

If they don't want my current account business I'm certainly not helping to finance their mortgages.

http://www.telegraph.co.uk/personal-banking/current-accounts/norwich-peterborough-current-account-customer-should-do/

Local press

http://www.edp24.co.uk/business/norwich_and_peterborough_building_society_customers_face_double_whammy_1_4866056

Posted in cast there are other members in the same mess I am in.

Zitat

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Is the YBS a bank?

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No, I don't think so they don't do current accounts there.

With 100000 accounts closing in 7 months its going to get very busy

I also benefitted from a bank sell out, you can move your money before but just leave in the qualifying amount, these days things have changed anyway as you have the Government protection, if you do switch bank accounts at least get some money for doing it, up to £200 just for moving "your" money! Best of luck😎

Well I called in to my local branch for a chat with the staff, my first thought was to relate my sympathy to the staff for their loss of employment, which was not the normal customer response. result was to help me with my investments in return, .................. some of which are tied up for a fixed term and would incur a loss of interest penalty, so it seems my best cause of action is to hang on to those until they mature ............ however it was also mentioned that some have already matured and are getting sod all by way of interest so now I know where to lay hands on money
to get cash with the least loss of funds.

I still need to find a new current account with a debit card and a facility for direct debits without having to resort to internet banking (internet banking fraud accounted to 6oo million pounds last year) ....... the only bank left in town will be Barclays .................. not my first choice but maybe my only choice.

The power of the internet is undermining the life of everyone maybe leaving the older and less advantaged behind because they are not in the majority or financially useful,

So is the age of the silver surfer (those with disposable income) drawing to a close? or is this yet another failure to control the excesses of the banking community?

Well today I started the process of moving all my accounts to the Nationwide Building society (nearest branch a tad over 20 miles away)

Not the way to look at finance I know, but after 20 years of doing business together if feels a lot like being let down badly by an old and trusted friend.

We live in an age where banks still have to put aside billions (thousands of millions) to pay for past misdeeds and still we cannot do without them, modern life dictates the need to have some sort of account to have your income paid into (try getting your pension or wages any other way) and to pay your bills (give them a couple more years there will be no such thing as a cheque book)

So still we have to rely on them, nearly 10 years after the banking crisis interest rates are still sod all for the saver, .............. great for buying a house but something of a disaster for the saver hoping for some income from their savings.

I am I must admit to being seriously tempted to go back to the days where keeping your savings in a biscuit tin was a reasonable course of action (after all it earns very little interest unless you are prepared to take risks on the stock market) .............. so the question has to be is a biscuit tin safer than a bank?
Well a biscuit tin might go rusty depending where you hide it

But what of a bank?

Now a lot of you will just see this as me bitching about my personal financial problems and to some extent that's true .............. but if it gets you thinking about where your money is stored and how safe or otherwise it may be and your whole banking arrangements in general then maybe I am doing some good?

much easier when you are skint innit

You could put some of your fortune in Premium Bonds, no interest but safe and always the chance of winning £1,000,000.

Chris

Quote: Aaron Calder wrote in post #9

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Quote: ChrisCM wrote in post #8

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You could put some of your fortune in Premium Bonds, no interest but safe

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We had £25 'interest' this morning - I find it hard to think of it as a 'win'.

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Well here we are just over 2 months later .......... I now have 2 current accounts ........... running side by side, still waiting conformation that my direct debits are moved over to my new provider, waiting conformation that my last ISA has moved ( already moved the other two)

I had to personally move my company and state pensions over (still no conformation that either have actually moved)

Three 40 mile round trips to my nearest branch of my new building society and still its not all done

On a lighter note I now have two current accounts to buy food wine pink champers etc with

Don't let these "change your current account to us" merchants fool you its a pain in the bum that just goes on and on.

Just over 4 months later, I am now fully moved over to my new bank .......... Nationwide.

Everything is functioning ok apart from sky tv ................... after five ...................... yes five............. attempts to move over my direct debit I have given up and this weekend they have cut me off as a customer, I still have a sort of freesat status with them but little of what I had is available.

Every time I called and gave them my new bank details .......... a couple of weeks later they told me the bank refused the DD ............ the bank tells me its all set up and even showed me on the monitor in the branch a couple of times............... so now I'm stuck in the middle, I even made a payment over the phone once, no doubt sky will harass me to rejoin as they will want my £44.00 a month to continue.

Found some films to watch on youtube and still have a large collection of dvd disks I can watch. Wonder who will win the grand prix?

Interestingly enough sky tv are now threatening to sue me for non payment after they cut me off and I cancelled the contract.

Should be fun as I have a record of all the payments made up to that date.