Bank of Scotland IASA Reward 5.8% Deadline

arjar

Hmm Well my account is now showing with a balance of £5k but an interest rate of nil %! Another phone call to BOS beckons....

arjar

Just for the record - told that the interest rate shown will go to 5.8% when the cheque clears next week. We'll see.....

Mr_K

Mmmm, my account was opened in time last week. I can see the balance ok online but it still says 'awaiting details' so I can't see the interest rate or operate the account. I sent the signed paperwork back a week ago, apparantly they need this. Don't know why because and I'm already an HBOS customer and I opened a Halifax Web saver at the same time which didn't need any signed paperwork. I gave them a ring and they said it takes a while from receiving the paperwork. Not impressed, the large lump sum that I was going to put into this is probably going into my Egg account instead. HBOS's loss............

Mr_K

Well, managed to get this account up and running. I arranged monthly interest, so was happy see a few quid added to the account at the end of the month. I was less happy to see it transferred straight out again (!)

Strange I thought, I asked for the interest to be added to the account. Had a look round ny other accounts to see if it had been transferred there. No luck.

I rang HBOS. " Do you know Mrs Ethel Scringebagger (name changed) ? " , "Er, no.." , "Your interest has been transferred to her account". :mad:
Well Happy Christmas Ethel, enjoy (!) :beer:

What a bunch of muppets. Sorely tempted to withraw all now. Customer Relations are looking into it and am awaiting a call back...... (they didn't sound surprised, it's as if this happens all the time....).

evenasus

Mr_K wrote: »

I rang HBOS. " Do you know Mrs Ethel Scringebagger (name changed) ? " , "Er, no.." , "Your interest has been transferred to her account". :mad:
Well Happy Christmas Ethel, enjoy (!) :beer:

Not really funny I know. But you made me laugh out loud this morning.

I'm sure they will sort it out for you pretty quick.

I've opened this account with the minimum, as it's a ready nest for my Halifax bond maturing in February.
I opted for interest to be added at maturity, so hope they get it right by then.

GlasWolf

Glad I forked out for the CHAPS payment to get this set up now - my main savings account interest has plummeted this week. And I have somewhere to put my Icesave money!

ultrapop

I am now able to access my IASA details, but the interest rate is shown as 5.65%, has anyone got the same problem?

Mr_K

Mr_K wrote: »

Well, managed to get this account up and running. I arranged monthly interest, so was happy see a few quid added to the account at the end of the month. I was less happy to see it transferred straight out again (!)

Strange I thought, I asked for the interest to be added to the account. Had a look round ny other accounts to see if it had been transferred there. No luck.

I rang HBOS. " Do you know Mrs Ethel Scringebagger (name changed) ? " , "Er, no.." , "Your interest has been transferred to her account". :mad:
Well Happy Christmas Ethel, enjoy (!) :beer:

What a bunch of muppets. Sorely tempted to withraw all now. Customer Relations are looking into it and am awaiting a call back...... (they didn't sound surprised, it's as if this happens all the time....).

Well it's now sorted hopefully, I've got the interest back. Apparantly it was a wider problem than just my account, and affected many BOS IASA's opened at the end of last month. Instead of the interest being credited to the accounts it got transferred elsewhere (if it all went to the above mentioned Mrs Scringebagger she would have had a very happy Christmas indeed !!).

They reckon its now sorted out but you may want to check your accounts...

Mr_K

ultrapop wrote: »

I am now able to access my IASA details, but the interest rate is shown as 5.65%, has anyone got the same problem?

5.65% is the gross rate for monthly interest. The AER rate (when you take into account compounded interest over the year) works out at 5.8% which is the same as the annual interest option.