Is Icesave now the best place to leave fixed rate accounts?

~Chameleon~

Tartania wrote: »

It's already there...

http://www.fscs.org.uk/faq/icesave_faqs/

31. If I decide to keep my Fixed Rate Savings Account open, will I need to make my paper application now or just before my account would normally mature?
If you prefer to wait until the end of the fixed term, and receive interest which would have been due at maturity, the electronic process option is not available to you. However, you should still log on to the website and tick the appropriate box to confirm that this is your wish. At that time, we will be notified that you wish to wait until the end of the fixed term and we will then send you an application form to complete and return to the FSCS as soon as possible. This process will be slower, although we aim to complete this process so far as possible within 6 weeks of receipt of a completed application form, with payment following the maturity date of the account.

Yes, it is, but some people are questioning the ambiguity of the wording and are seeking clarification. It seems quite clear to me but not everyone reads things the same way

KingL

It's already there...

Yes, there has been much debate on other threads about the meaning of that paragraph and what the word "then" refers to (in the part "...tick the appropriate box to confirm that this is your wish. At that time, we will be notified that you wish to wait until the end of the fixed term and we will then send you an application form").

Some say "then" means 'when you have clicked the button' others say it means 'when the you reach the end of the fixed term').

Personally, I'm satisfied that it means the former (and that forms will be sent out earlier, rather than later), but the phrasing could be improved to improve clarity.

ed123_2

....I too rang yesterday and they said the forms would be sent out after maturity of the bond....