Are savers frantically opening up fixed accounts?

mike-w_4

I tried 'phoning BHM earlier today and after queuing for a while (listening messages to say they were very busy), I got 'cut-off'. I was more successful a short while ago (queued for about 10 mins) as I managed to speak to an agent.

It was told that they could only send me an application form and I would need to sign this and return with a cheque. When I asked what would happen if the interest rates changed (apparently they don't open the account until they receive the form / cheque back), I was told that they hadn't been told anything about a rate change. The lady also said that they often allow about 5 days for people to return their forms. Hope I haven't 'missed the boat'! Does any one know if this is correct please?

Thanks

Mike

Inactive

Nationwide have fixed rate bonds that have not been reduced yet.

They can be set up instantly from a FlexAccount.

bjorn_again

Fortunately, I did not withdraw my ftd with KE when it was taken over by ING. Still sitting in there earning 6.85%. I

I know this is a bad time for savers but it will turn itself around and good rates will come back. The Yin and the Yang. Life is good, stay positive.;)

cs95aam

If you dont have a Flexaccount I suppose by the time you open one of those they might withdraw the bond.

jm0221

I opened a Halifax Regular Saver in July (when it was 10%). I can assume this is going to go down too. I can't remember whether it was fixed or not. I could bump up to 500£ a month (if I had it!) if so.

John

prixon

Yes the Halifax regular saver 10% was a fixed rate.

As of today you can still get a regular saver account with Principality Building Society, fixed interest at 7% and pay in up to £500/month.

elektra

Don't know why I didn't open the BM 1 year fixed a while ago with minimum amount. It actually says you can add funds to it. So there would have been time for paperwork to be sorted. Doubt it will still be available now by time form received and cheque sent back.

I think I was nervous (not sure why) about going for fixed after the ICESAVE fiasco.

freddysmith

Yes to the OP, I have just transfered instantly a large amount from my B&B Internet Saver 3 account to their 6% 2 yr fixed rate bond.
I can see saver variable rates rapidly dropping within the next few days.

Sam37

prixon wrote: »

As of today you can still get a regular saver account with Principality Building Society, fixed interest at 7.5% and pay in up to £500/month.

seems to have vanished... would have been interesting



I have been fixing over the last couple of weeks/months. Main bulk of ISA into a two year bond, some 1 year bond, some easy access, Egg 6.3 for a year, Halifax 10% till June. I quite like fixing generally, helps me to keep my hands of my money, ...

soolin

Like others on here I kept meaning to move my money to a fixed rate and never quite got round to it. I did apply for a Coventry Poppy Fund yesterday but I imagine by the time the paperwork gets out to me and back again that it will be closed.

However Ing are still offering a 6 month or 3 month bond at 6% for existing savers so I have stuck with them