Icesave maturity date before 2nd e-mail

tringo

I have a 6 month fixed term savings account with interest paid on maturity, the maturity date being 15/11/08.

2nd email received today - 10 days after maturity date.

The interest added to my account I am pretty sure equates to 07/10/08(default date)

I think that I should have received the full 6 months interest as the request to transfer back to my feeder account has taken place after the maturity date.

Has anyone experienced the same situation or have any thoughts on the matter?

Thanks

tringo

KingL

tringo wrote: »

2nd email received today - 10 days after maturity date.

The interest added to my account I am pretty sure equates to 07/10/08(default date)

That's how they have presented the interest on all accounts.

Presumuably you now have the same option as everybody else - either to claim immediate payment (in which case you will forfeit all interest after 7 Oct 08) or to "let the bond run to term" (which obviously, in your case is a date already in the past) in which case you will get all interest for the full term. The downside with the latter is that you won't get your hands on the cash until a manual claim has been processed, which might take 6 weeks. Clearly, you won't be able to save it elsewhere (and get interest on it) until you get it back.

Sounds like you are in the same boat as everyone else.

masonic

If you use the electronic system, then you forfeit any interest after 7th October regardless of your maturity date. You have a choice between cashing in a known 5 week loss of interest from 7/10/08 using the electronic system now or going for an up to 6 week (but possibly longer depending on how long it takes you to get the paper form) loss of interest after maturity using the paper system.

I was in exactly the same boat and decided there probably wasn't any advantage in waiting longer. I received my money this morning