Bristol raises postal account minimum: Vivien Goldsmith and Maria Scott discover what this week's base rate cut will mean for borrowers and for those with money to invest
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.BRISTOL & WEST Building Society is raising the minimum investment on its postal account from pounds 2,000 to pounds 10,000.
The move follows several weeks of administrative problems when many would-be account holders had to wait more than two weeks to see if their account application forms had been processed.
Bristol & West says that its attractive rates have drawn in three times the numbers of new savers in January that it was getting at the end of last year. The society now has 35,000 postal account holders.
According to a spokesman for the society, all applications sent in since 21 January have been acknowledged within 24 hours.
Those customers can expect to receive their passbooks within two weeks of lodging their applications. All documentation relating to applications submitted before 18 January is now said to be complete. However, people whose applications were sent in between 18 and 21 January may still not have received an acknowledgement.
A spokesman said: 'By the end of next week we should be all up to date. We have been caught out by our own success.'
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments