Bradford & Bingley INTERNET SAVER 3

ad44downey

Stavros wrote: »

They have only nationalised the mortgage and debt side. Santander have purchased the savings side and its now part of Abbey with the Abbey banking licence. By saying it is all nationalised then it infers that there is 100% savings protection as in the Rock and NS&I, when actually the degree of protection is the current 50K protection through the FSCS, sorry to be perdantic but that could be mis-interpreted

Are you seriously suggesting that the UK government would not guarantee ALL such savings with Abbey given that it was the UK government and not the depositors that chose to move the savings business to Abbey.

Stavros_3

I was picking up on your comment. B & B savings arm is not nationalised, its part of Abbey.

dartmoor_liz

Yes Santander is protected to the tune of 50k. However, is it worth that uneasy feeling and the hassle should they prove to have indeed overstretched themselves? I have found Cahoot not so good since becoming part of Santander and Abbey features too often in the finance problem pages for my liking.

ad44downey

dartmoor_liz wrote: »

Yes Santander is protected to the tune of 50k. However, is it worth that uneasy feeling and the hassle should they prove to have indeed overstretched themselves? I have found Cahoot not so good since becoming part of Santander and Abbey features too often in the finance problem pages for my liking.

Well they'e alot safer than most of the other UK banks given that it was the UK government who unilaterally decided to move the savings to Abbey. They can hardly do that and then wash their hands of the affair if something went wrong

savetilibleed

fredbear wrote: »

The web site is currently being updated with interest rates. The Internet saver issue 3 account had been withdrawn and is now not available for new customers to open, this is why it is not showing on the web site. However I can confirm that the interest rate is now 6.32%. It will be available shortly under the ???accounts no longer available??? option under the interest rates.
I apologise for any inconvenience caused.

I hope all customers will receive formal notification soon. I cannot remember what the Ts & Cs say about this and I have spent too much time on savings accounts recently to look now.

That rather sounds like a waffle answer, especially as it isn't specific as to whether the 6.32% is monthly gross (as has been), yearly gross or AER. Perhaps the respondent is overworked (maybe being obliged to work Sunday).

Stavros_3

Here is the latest in an e-mail I have just received

Dear Mr
Thank you for your recent enquiry.

We apologise you are unable to view the interest rate for the Interenet Saver 3, IT are aware and are doing evrything they can to have it updated on the website. I can confirm the interest rate for the Internet Saver 3 is 6.51% annual and 6.32% monthly

If you have any further queries please do not hesitate to contact us on 0845 601 7802. Our office is open 8am until 8pm Mon - Thurs, 8am - 6.30pm Fri, 9am - 5pm Sat and 10am - 4pm Sun. Alternatively, e-mail us at enquiries@savings.bradford-bingley.co.uk.

Yours sincerely

evenasus

Another question.

I know I should have taken notice of when the interest is paid on the Internet Saver 3 - but I didn't :rolleyes:

Is it payable on the 12 month anniversary of opening?

On a previous savings account I had with B & B a few years ago, the main interest was paid in March and the bonus in May.

savetilibleed

evenasus wrote: »

Another question.

I know I should have taken notice of when the interest is paid on the Internet Saver 3 - but I didn't :rolleyes:

Is it payable on the 12 month anniversary of opening?

Don't know - I have mine paid out monthly. That happens on the last day of the month.

Stavros_3

Send them an e-mail at the below address you will get a response the same day
[EMAIL="enquiries@savings.bradford-bingley.co.uk"]enquiries@savings.bradford-bingley.co.uk[/EMAIL]

JayTee99_2

evenasus wrote: »

I know I should have taken notice of when the interest is paid on the Internet Saver 3

Is it payable on the 12 month anniversary of opening?

i believe it's the same as for Internet saver1, which is

5.2 Interest is calculated daily and is payable either annually (before business on the morning of 31 July) or monthly (before business on the morning of the last day of the month).