Are savers frantically opening up fixed accounts?

Dan29

blackswan2 wrote: »

Can you explain briefly how you go about that?
Want to open a Close Brothers account and applications have to be in by Monday and not sure if funds have to be there by then too.

Both the sending and receiving accounts have to support Faster Payments; I guess Close Brothers don't unfortunately (or Dagobert would have mentioned it ).

You can always do a CHAPS transfer for £20 or £30; might be worth it for the extra interest.

jimbow25

The other day on the Kaupthing Edge site, logging in and clicking "buy term deposit" gave you a choice of the terms and their interest rates to buy: whereas now you get a big message saying "UNEXPLAINED ERROR OCCURED".

I wonder if it's a coincidence or if they're overwhelmed/keen to put people off signing up!

molar

Has anyone managed to open a Halifax fixed rate saver after adding new funds specifically today?

My variable rate web saver had a balance of zero before today. It looks as though the application process is looking at yesterdays closing balance when deciding whether I can apply or not. I've added funds above the £500 minimum today by FasterPayments but the application process is rejecting me saying that I either don't have a variable rate web saver or I don't have the £500 minimum balance in it.

Geoffo_M

It's a shame Banks/Building Societies don't reduce their savings rates at the same rate as they reduce their mortgage rates

KDH_2

Swipe wrote: »

That's the problem with these fixed rate accounts. Unless you have the money in a linked account ready you are shafted as they'll no longer be around by the time your money arrives from elsewhere.

The E Bonds at B&B can be opened immediately and the terms and conditions say that you have 14 days for them to receive the cheque (if you set up a DD during the application then this is taken after about 8-9 days)

http://www.bradford-bingley.co.uk/savings/longer-term-accounts.asp?tid=2

Stompa

KDH wrote: »

The E Bonds at B&B can be opened immediately and the terms and conditions say that you have 14 days for them to receive the cheque (if you set up a DD during the application then this is taken after about 8-9 days)

http://www.bradford-bingley.co.uk/savings/longer-term-accounts.asp?tid=2

As an existing B&B online customer I attempted to open one of these this afternoon, with a view to transferring funds from my B&B Internet Saver account. When I reached the end of the application process it asked me to send a cheque. Now I don't want to have to transfer from my IS3 account to my linked acount, then write a cheque and send it back again, so I gave them a call.

I was told that the deposit had to be by cheque or I could set up the initial deposit from an existing B&B account during the application process. However, I wasn't given that option during the application process. Tried doing a second application just to make sure, but couldn't see it.

I subsequently received an email telling me that my welcome pack was on its way, despite the fact that at the end of my application it said "Your initial deposit will need to be sent by cheque before we can send you your welcome pack".

The email said that "Enclosed in your Welcome Pack is your User ID. You will need this before you can log into your account. Instructions on how to log in are included in the pack." despite the fact that as an existing online customer I already have a User ID.

I'm not impressed.

LucyTheDwarf

Geoffo_M wrote: »

It's a shame Banks/Building Societies don't reduce their savings rates at the same rate as they reduce their mortgage rates

Indeed!!!!

neil324

Stompa wrote: »

As an existing B&B online customer I attempted to open one of these this afternoon, with a view to transferring funds from my B&B Internet Saver account. When I reached the end of the application process it asked me to send a cheque. Now I don't want to have to transfer from my IS3 account to my linked acount, then write a cheque and send it back again, so I gave them a call.

I was told that the deposit had to be by cheque or I could set up the initial deposit from an existing B&B account during the application process. However, I wasn't given that option during the application process. Tried doing a second application just to make sure, but couldn't see it.

I subsequently received an email telling me that my welcome pack was on its way, despite the fact that at the end of my application it said "Your initial deposit will need to be sent by cheque before we can send you your welcome pack".

The email said that "Enclosed in your Welcome Pack is your User ID. You will need this before you can log into your account. Instructions on how to log in are included in the pack." despite the fact that as an existing online customer I already have a User ID.

They seem so inept that I do wonder if it's worth pursuing any further.

I went through the same process about 2 weeks ago for a 6 month bond and had an esaver3 account with them, they insisted on the cheque in method. They sent me a letter saying a had 30 days to fund it or it will closed. I never sent the cheque decide not to open it after all.Anyway the bond shows up when i log in with a 0 balance, although i have'nt tried the accounts are linked and i presume i can transfer between the 2. After today i might use it now.

KDH_2

.......If you log in at B&B first ,.......then apply, then you do have the option of transferring from the Internet Saver Account

jingle68

jimbow25 wrote: »

The other day on the Kaupthing Edge site, logging in and clicking "buy term deposit" gave you a choice of the terms and their interest rates to buy: whereas now you get a big message saying "UNEXPLAINED ERROR OCCURED".

I wonder if it's a coincidence or if they're overwhelmed/keen to put people off signing up!

im getting exactly the same message