Skipton bars carpetbaggers

By WAYNE ASHER
Updated:

 

Skipton Building Society has brought the gates down for carpetbaggers who open accounts solely in the hope of a conversion or takeover windfall. It has raised the opening balance on all investment accounts to £5,000.

This minimum already applied in branches in the south of England and Midlands, after a previous attack of carpetbagging. But now the policy applies nationwide - and new customers must also maintain this £5,000 balance.

A Skipton spokesman said he 'regretted' that such action was necessary, adding that the society had avoided creating two types of member by requiring that new members agree to assign any windfall to charity. He added 'we are not prepared to compromise the service to our existing customers as a result of speculators.'

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