Kent Reliance one year fixed bond (6%) closing on Monday 28/11/2008

Geoffo_M

i_am_confused wrote: »

When I spoke to them on the phone today they told me that there is still a backlog of welcome packs to send out.

If your cheque has cleared, there isn't anything to worry about - they've obviously received the money.

And they have,in individual cases, told some customers that they can open the account and then send the money to follow by BACS. But this only applies if you asked up-front to do that, because - for example - you had to give notice to another bank or building society.

I'm still waiting for acknowedgement. It's 2 weeks now

Speculator

I received this reply to my email query..


Dear Sir / Madam,

Thank you for your email.

I am writing to confirm that we received your forms along with the cheque on the 25 Nov 2008, and have been earning interest on the funds from the day it was received.

The confirmation letter will be sent out to you in the due course.

I trust this answers your query.

Should you require any further assistance, please call us on any of the numbers below or email us at mail@krbs.com

Kind regards,

Member Services
Kent Reliance Building Society
https://www.krbs.com

skitskut

I am STILL waiting for a welcome pack/certificate for my 2 year bond. I transferred my deposit in via BACS.

I rang up 11 days ago, my account and balance were verified and I asked about the certificate. Was told one would now be sent out but does not look like arriving! Is the certificate necessary? Would I get more joy e-mailing them rather than dealing with their Indian call centre?

MarkyMarkD

You should have had it by now.

The certificate is of no value at all, if you intend to hold the bond to maturity. Just before your bond reaches maturity you will get a letter asking what you wish to do with the proceeds (i.e. take another bond, have the money paid back to you, or a combination of the two).

Even if you wished to surrender the bond part-way through the two years, I am sure that not having the certificate would not be insurmountable.

You've confirmed that the account is properly recorded on their systems, and that's the main thing.

RayWolfe

Whils I fully agree with MMD, I would feel more comfortable with a certificate ... one showing the interest rate!

baby_boomer

Does anyone else hate it when these threads showing unattainable high interest accounts re-emerge?

Sebby*

Kind of, but I can see why it has.

MarkyMarkD

And at least the thread title says when it closed, so you shouldn't have got your hopes up!

I agree, Ray, that the certificate is worth having, but I wouldn't lose sleep over waiting a little while longer for it. I presume the OP has asked KRBS the rate, as well as checking that they've received the funds.

And KRBS didn't replace the 6% bond with a lower-rated one, IIRC, so the chances of the bond existing, but at the wrong rate, is lower than it would be in other circumstances.