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Are savers frantically opening up fixed accounts?
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A quick update on my B&B eBond saga. The account appeared online today.
I'm told that:
1. The message saying I need to send the initial deposit by cheque can be ignored.
2. I can move funds online directly between my Internet Saver 3 and the eBond (though only a single deposit is permitted).
3. Once the eBond is open, the 6% rate is fixed (even though I've not funded the eBond yet).
4. Since the rate on the eBond is virtually identical to that on the Internet Saver 3, there seems little point transferring across to the eBond until they drop the IS3 rate - after all why make the funds inaccessible before you have to.Stompa0 -
Hmmm, FWIW it looks like the B&B eBond has now been pulled.Stompa0
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Fortunately I found out from another thread how to transfer funds from my Internet Saver 3 directly into a new fixed rate ebond last night and decided not to wait until today to do so. Lucky for me I did as they do seem to have pulled these accounts now. Funny how B&B are usually quite slow to act!0
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You've never seen me, but I've been here all along - watching and learning...:cool:0
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OH and I each opened one of these in October. Not sure if it's because we live in a fairly rural area but we had to make an appointment (for a few days hence) to see the same investment chappy with whom we had an interview for our ISAs. As he services two or three branches he only comes one or two days a week.
They opened mine in about 10 mins after I just walked into a branch in London (and not being an existing Barclays customer). Mind you it was riduculously large (even had two floors) and they didn't seem particularly busy!0 -
narrowboat wrote: »Fortunately I found out from another thread how to transfer funds from my Internet Saver 3 directly into a new fixed rate ebond last night and decided not to wait until today to do so. Lucky for me I did as they do seem to have pulled these accounts now. Funny how B&B are usually quite slow to act!
They assured me on the phone that once the account is open (i.e. it appears alongside your other online accounts) then the fixed rate is guaranteed (even when it contains £0.00). There is then no urgency to make your deposit - they said on the phone you have 90 days, but I've asked them to send me the T&C's just to make sure!Stompa0 -
freddysmith wrote: »Its still allowing me the option to transfer internally.
And I'm told they'll continue to do so (for 90 days so they say), though of course you will only be able to make 1 transfer.Stompa0 -
Believing that interest rates would be cut quite soon, we started locking our savings away on 6 month bonds two weeks ago (however, see my other postings re: Halifax Web Saver - Don't Bother).
This money is the proceeds from the sale of our house last December, and we hoped would be spent on a new house. No chance at the moment - we'll sit tight and let the market bottom out. We're not spending anything.0 -
Can anyone who applied for the Birmingham Midshires fixed rate 1 yr bond tell me if on the application form it says the rate you are applying for. They still have them on their website at 6.6% today (saturday morning). I applied last night online (Friday) and would hope still to get the rate advertised but am waiting on the forms which I guess won't arrive until the end of next week, then by the time the cheque is sent and cleared it could be the following week so near on 2 weeks until it is operating but if I don't get the 6.6% I don't want it.
Could anyone who has the forms let me know if there is any mention of the rate on it?
TIA.0
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