Society named as best savings provider

Yorkshire Building Society has been named the title of Which? Recommended savings provider for 2024.

The mutual – who has head office sites in Leeds and Bradford – was given the title by Which? for combining excellent customer satisfaction with market-leading accounts and rates. Last year Yorkshire Building Society paid its savings members £441m in additional interest, which provided interest rates 1.01% above the market average.

The Which? Recommended Provider endorsement involves reviewing a number of factors including market research, detailed customer surveys, robust analysis of policies, pricing and terms and conditions. Only brands which meet or exceed their benchmark score are given the status of Which? Recommended Provider.

Chris Irwin, director of savings at Yorkshire Building Society said: “We are delighted to receive this recognition as we pride ourselves on the savings products and services we offer to customers and endorsements from Which? are among the most prestigious of their kind.

“Our members are at the heart of everything we do and that’s why it’s so pleasing to be recognised with the recommended status.”

A representative for Which? said: “Customer service is an important factor for many people when choosing a savings account. We asked thousands of savers to rate their bank or building society, enabling us to create unique customer scores for all the major providers.

“Yorkshire Building Society earned a customer score of 77%. Savers gave it high ratings for its customer service, application process, regular communications, and online banking service.

“We also analysed thousands of savings products giving each provider an overall interest rate score, highlighting which companies offer consistently competitive rates.

“The mutual are the only Which? Recommended provider for savings with a branch network and also has the widest range of savings products out of recommended providers.”