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trouble with icesave fixed deposit claim
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mr_rush
Posts: 597 Forumite
Hopefully someone can give me some advice...
I've got £25K in a fixed deposit account with Icesave started June 08. I want to leave it in until June 09. When I log onto Icesave to instruct this I am offered 2 options:
1. Claim now
2. Defer claim and allow full maturity of deposit (paper application will be sent)
Both have an empty box next to them with 'amount' to fill in.
Now when I leave it blank to continue the 1 year deposit, I'm not allowed. When I fill in the total interest after 1 year @ 7.2% I'm not allowed.
What are people putting in this box - interest to date (7th October)?
I've got £25K in a fixed deposit account with Icesave started June 08. I want to leave it in until June 09. When I log onto Icesave to instruct this I am offered 2 options:
1. Claim now
2. Defer claim and allow full maturity of deposit (paper application will be sent)
Both have an empty box next to them with 'amount' to fill in.
Now when I leave it blank to continue the 1 year deposit, I'm not allowed. When I fill in the total interest after 1 year @ 7.2% I'm not allowed.
What are people putting in this box - interest to date (7th October)?
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Comments
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What are people putting in this box - interest to date (7th October)?
I put in the figure they were quoting further up the page for the deposit + interest to Oct 7th, though (like you) I did try to send the textbox through empty but it didn't work as you know.
One unrelated thing is that probably like most ppls I've account statements and summaries printed out. But nowhere is the actual interest rate (7.01%) that I joined at printed anywhere on these statements. I'm not particularly worried, just that I've no documentary proof whatsoever of the interest rate I joined at.0 -
It should not matter as the paper forms should have the correct interest calculation for the fixed term, but the best thing to do would be to put the correct value in.
= deposit + (deposit x 0.072 x 0.8) [assuming you are a basic rate taxpayer].
If it won't let you do that, you may have to enter the balance at 7th October.0 -
It does say "do you agree that the interest is correct up to 7th October" which is what you are agreeing to when you make your claim.0
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isofa called them to check what to do - see his post here
http://forums.moneysavingexpert.com/showpost.html?p=16144081&postcount=520 -
When I phoned the lady told me I should leave the box blank. Of course this doesn't work. Phoned again and was told to put in the current value as shown. This worked but I'm really annoyed that something so simple has not been picked up before the process went public. They must be getting hundreds of unnecessary phone calls.0
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Its good to read that this part of the process has now been determined - I now feel I know what I should do when it comes to my turn to deal with those fixed rate accounts
Many of us would be lost without all the useful information people take the time to contribute on this forum."How could I have been so mistaken as to trust the experts" - John F Kennedy 19620 -
I put in the total amount including interest and it worked fine but you must omit the pound sign. On the FSCS website icesave faq's it does tell you how to fill in the field.0
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