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Bank of Scotland IASA Reward 5.8% Deadline
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opinions4u
Posts: 19,411 Forumite
Their web site www.bankofscotland.co.uk/savings has confirmed a cut off date for this account:
"Limited offer - open and fund an account before 26 November 2008, although may be withdrawn earlier"
It pays 5.8% gross fixed for a year.
Allows 4 withdrawals
Additional deposits accepted
Minimum £5k
The fixed element to the rate, while allowing access, is particularly appealing in the current climate.
Knowing their online system for opening this account (I had a nightmare with an earlier one), I'd use the phone to get one!
"Phone 08456 020304 (lines are open 8am to 8pm Monday to Friday, 8am to 6pm Saturday and 9am to 5pm Sunday)"
"Limited offer - open and fund an account before 26 November 2008, although may be withdrawn earlier"
It pays 5.8% gross fixed for a year.
Allows 4 withdrawals
Additional deposits accepted
Minimum £5k
The fixed element to the rate, while allowing access, is particularly appealing in the current climate.
Knowing their online system for opening this account (I had a nightmare with an earlier one), I'd use the phone to get one!
"Phone 08456 020304 (lines are open 8am to 8pm Monday to Friday, 8am to 6pm Saturday and 9am to 5pm Sunday)"
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Comments
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Apparently, this account may well be withdrawn before 26th November, depending on demand (that is the reason given for the earlier cut off point now).
For the Halifax Guaranteed Saver, although it also has the "may be withdrawn earlier" bit on it, this is supposed to stay until 26 November.
So for the BOS IASAR, it really would be worth moving quickly as it may not be around much longer.
Also, for both the BOS & Halifax versions, note that the account must be funded by the deadline to get the high rate.0 -
Hmm, now I'm wondering whether to make a chaps payment from my Egg account to open this one up. Be a waste of £25 (and just my luck) if the account is withdrawn in the interim...0
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I applied for this account online during the week...but haven't heard anything yet.
Will I still get the 5.8% rate if a deposit isn't added before the 26th November? I can't send a cheque yet as they haven't given me any details on how to do this...(funds are cleared and waiting though).
JB0 -
Will I still get the 5.8% rate if a deposit isn't added before the 26th November? I can't send a cheque yet as they haven't given me any details on how to do this...(funds are cleared and waiting though).
JB
No, the account must be funded by 26th to get 5.8%.
Have you got a roll number, or sort code & account number yet? If so, you could try paying in at a Halifax or BoS branch, or just send the money electronically to the sort code & a/c number.0 -
Hmm, now I'm wondering whether to make a chaps payment from my Egg account to open this one up. Be a waste of £25 (and just my luck) if the account is withdrawn in the interim...
When I was in my local Halifax branch on monday, depositing my cheque for the BOS IASR, I mentioned that I'd thought about the initial funding with a BACS transfer.
They told me that a BACS to open it wouldn't have been accepted. Don't see why that would be though.
So I'd ring and ask if I were you.
Oops, sorry, I meant CHAPS
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Call them and reapply - just to make sure!I applied for this account online during the week...but haven't heard anything yet.
Will I still get the 5.8% rate if a deposit isn't added before the 26th November? I can't send a cheque yet as they haven't given me any details on how to do this...(funds are cleared and waiting though).
JB0 -
I applied for this account online during the week...but haven't heard anything yet.
Will I still get the 5.8% rate if a deposit isn't added before the 26th November? I can't send a cheque yet as they haven't given me any details on how to do this...(funds are cleared and waiting though).
JB
If you ring them first thing tomorrow morning, they will open an account for you there and then, giving you your sort code and account number straight away. You can then pop into your local BOS or HALIFAX and deposit your cheque to said account.
I rang and opened mine online, even after going through the online opening. I was told to ignore the online opening as it would take too long for the papers to come through.
I did this after reading other posts re opening this account.0 -
Thanks, but I went through the application process and it says as much there. My intention is to CHAPS it into my Halifax account and fund it from there. I'm presuming the latter part is internal and won't take 3-4 days like a BACS payment, but it depends on how integrated Halifax and BOS's systems are. Can anyone confirm?When I was in my local Halifax branch on monday, depositing my cheque for the BOS IASR, I mentioned that I'd thought about the initial funding with a BACS transfer.
They told me that a BACS to open it wouldn't have been accepted. Don't see why that would be though.
So I'd ring and ask if I were you.0 -
Thanks, but I went through the application process and it says as much there. My intention is to CHAPS it into my Halifax account and fund it from there. I'm presuming the latter part is internal and won't take 3-4 days like a BACS payment, but it depends on how integrated Halifax and BOS's systems are. Can anyone confirm?
Sorry GlasWolf - I'm misleading you, I should have typed CHAPS - not BACS in my post about the initial opening funds.:o0 -
No probs - as I wrote above, I wasn't intending to send it directly to the new account anyway.0
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