West Bromwich BS E-Bond 7.05%

skoolmaster · 11 June 2008 at 5:56PM

West Bromwich BS E-Bond 7.05%

E BOND Issue 13 launched w.e.f. 11.6.08: a fixed term internet operated account maturing 30.6.09 with a minimum investment of £1K paying 7.05% on maturity (6.83% monthly). Earlier access and further additions not permitted.
11 Jun 2008

kanchhelskis · 11 June 2008 at 7:15PM

wow another good rate for savers, its all good at the mo for savers.

Dagobert · 12 June 2008 at 3:26PM

Deposit by cheque.

An alternative might be an ICICI 7% 1-year term deposit. ICICI accepts Faster Payments. Account opened one day after application.

Speculator · 12 June 2008 at 3:51PM

The online application allows deposit by transfer from existing West Brom a/c. Good time to transfer most of my Magic 8 money:)

Magic 8 allows 2 penalty free withdrawals per year if I remember correctly.

Dagobert · 29 June 2009 at 9:28PM

Can anyone confirm that one of the withdrawal options was BACS?

I opened a Direct Easy Access Account to transfer the matured funds to so I can a arrange a BACS withdrawal to the linked account.

Now they are telling me that BACS w/d was one of the maturity options. I am pretty sure I did not receive a maturity instructions form with that option.

Speculator · 30 June 2009 at 2:38AM

I don't know if it was one of the options because I am still in Hong Hong and have not seen the form.

However, you can definitely withdraw by BACS direct from the bond to your bank account.

my email to West Brom dated 11th November 2008...

My E-Bond account will mature on the 30th of June 2009 but I will be in Hong Kong during May, June and July.

Would it possible to make a withdrawal/closure by BACS direct to my current account if I send a covering letter with my certificate. I will ask my sister in the UK to post my letter a few days before maturity.

and their response...

Dear Mr Speculator,

Thank you for your e mail.

Yes, this will be fine.

If you have any further queries please telephone our Customer Services on 0845 33 00 633

Yours sincerely,

Mrs Gurjit Soomal
Account Management Contact Support Handler

brewerdave · 30 June 2009 at 7:31AM

I had to set up a linked acc. to accept the interest at maturity when I opened this product - when they sent me the invitation to "reinvest" there was an option to decline to reinvest the original capital and have it repaid direct to a bank acc. I just input my linked acc. details and a few days later I rec'd confirmation that the whole maturing amount was going to my current acc. as requested.

kostigovs · 30 June 2009 at 8:36AM

BACS payments were triggered on 26/6 with a view to maturity funds reaching bank a/c's tomorrow 1/7

Dagobert · 30 June 2009 at 8:50AM

What a scunner! After my experience with various regular savers, which can only be paid out by cheque, I decided to open a Direct Easy Access account in order to be able to do a BACS transfer, not realizing that I could have done this without the detour!

Now they have set up the savings account but have lost my external bank account details. I know they received my maturity instructions as they acted on it but they did not take a note of my external bank account details and did not scan the letter and therefore cannot trace it!

Speculator · 1 July 2009 at 2:25AM

Full matured balance including interest has been credited to my bank account today. (1/7)

kostigovs · 1 July 2009 at 10:37AM

Speculator wrote: »

Full matured balance including interest has been credited to my bank account today. (1/7)

Mine's too. Now where do I put it?

West Bromwich BS E-Bond 7.05%

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