Just Been Told Cannot Close Hertiable Fixed Rate Bond

MKUX3

I have just phoned and checked with the 0845 6071212 no and have been told that i cannot close heritable or any fixed term bond under maturity.!!!!!!

MarkyMarkD

And your point is?

Bonds are normally for a fixed term. Some give early access (with loss of lots of interest); many don't.

baby_boomer

Thanks for the clarification.

Presumably that was in the terms and conditions you signed up to?

MKUX3

my point is that i have read in previous posts that some people have said that they were wondering about closing their accounts - fixed term with KE and Heritable but i was pointing out that i have phoned about my own and have been told that you cannot close the account until maturity.

baby_boomer

I understood that.

Which is why I thanked your post.

Old_Slaphead

Of more concern (to me anyway) -my Heritable FRB was covered 100%, it is below £20k, by FSCS guarantee.

Now it is guaranteed by Dutch government -just hope that they aren't as unreliable as the Icelandic government !!

shindigger

baby_boomer wrote: »

Thanks for the clarification.

Presumably that was in the terms and conditions you signed up to?

Presumably, the OP was expecting the bank to still be in business and not fold like a house of cards.

Presumably the fact that the bank liquidated, made the OP think that the fixed rate element may not apply to a defunct bank.

Presumably youre a !!!!!! pedant.

Though i could be wrong.

MarkyMarkD

The accounts were transferred as a going concern, though, with their terms attached.

MKUX3

thanks so it is looking like i will have to leave them til maturity - i have no options here.