How to open a bank account with YBS

Yorkshire Building Society (YBS) is a UK-based building society that offers different types of savings accounts that cater to different needs. They’re known for competitive interest rates on their savings accounts compared to other banks, their high customer service ratings and ethical approach to banking. Here’s a comprehensive guide on opening a savings account with YBS:

1. Choose your savings account

YBS offers a few types of savings accounts that could cater to your needs. They include ISAs, bonds and regular savers.

Cash ISAs

Tax-free savings account where you don’t pay tax on the interest, up to £20,000.

Fixed Rate Bonds

Savings account where you can earn a better rate with a fixed rate bond, though they come with withdrawal and closure restrictions. Click here to see up to date interest rates.

Regular e-Saver Accounts

Savings account where you can put a little away each month with up to 2 withdrawals. Save up to £250 per month and get competitive interest paid at maturity. You can close this account at any time.

2. Check the eligibility requirements

To open an account with YBS, you need to be a UK resident.

3. Prepare the required documents

You will eventually need to verify your identity online by uploading ID and documents as part of your application. You will receive an email at the end of your application, including a link to HooYu.

The eligible photo ID documents required to open an account with YBS are any of the following:

• Passport
• Driving licence
• National identity card
• Residence permit
• Biometric residence card

Some of the acceptable forms of proof of address are:

• Utility bill (gas, electricity, water, etc.)
• Council tax bill
• Bank statement
• Mortgage statement
• Tenancy agreement
• HMRC letter

4. Apply for an account

You can apply for an account online or by visiting a YBS branch or agency.

Here are some steps to apply for an account online:

1. Visit the YBS website to compare and choose the type of savings account.
2. Click on ‘Apply now’.
3. Fill in your personal details.
4. Upload the required documents and verify using HooYu.
5. Submit your application.

5. Set up the YBS app

Once you have opened an account with YBS, you can set up the YBS app to manage your accounts online, make payments and access all your savings accounts in one view. You should also connect your account to Emma to track all your cards in one place, flag wasteful charges and get insights into your spending and budgets. Create as many Emma Pots as you want to separate your money into goal-oriented savings – this is proven to be more effective in achieving your financial goals. What’s more, Emma offers some of the best cashback offers in the UK so you can earn back money when you shop online. Use both apps to get the most out of your new YBS savings account.