Birmingham Midshires Internet Fixed Rate Bonds

Mikeyorks

Stompa wrote: »

I doubt it. My original phone enquiry was simply to ask if I were to open a Bond, would I subsequently be able to transfer into it from an existing eSaver. I didn't ask open a bond at that point.

Bob_G wrote:

My experience is the same as Stompa.
I have completed an online application for e-saver & a fixed rate bond. The only paper was from them, confirming details.

Sorry folks - in the light of all that evidence I've just looked at their site.

And remembered being puzzled that all their Fixed Term Deposits - on both occasions I've applied - have been showing under the Telephone Savings part of their site. With nothing under 'Internet Savings'.

That position is now reversed .... with all the Fixed Rate Bonds showing under Internet ..... but none under Telephone.

So ... despite I was given an 'online application' under the Telephone tab .... which translated to a pre-formatted application arriving in the post (see the other threads I linked to where everyone reports the same - with BM). They obviously, from your experience, process them directly online if they're offering the same product ... but under their Internet tab!

Sorry I was confused ..... and decided to pass it on

Stompa

Mikeyorks wrote: »

Sorry I was confused ..... and decided to pass it on

Don't worry, BM seem to be experts at confusing people!

nilrem_2

Oddly, the lady I spoke to was unaware that the bond was being withdrawn today (she said she would have been notified if that were the case) - so I don't know how accurate this:

https://www.emoneyfacts.co.uk/news/savings-news.aspx?newsarticleid=179071

is.

Looks like the lady you spoke to rather than Moneyfacts was right, the bonds are still listed on the BM website and I took one out late last night!

Bob_G

nilrem wrote: »

Looks like the lady you spoke to rather than Moneyfacts was right, the bonds are still listed on the BM website and I took one out late last night!

It seemed like I spent most of yesterday on the phone to BM moving money into their fixed rate bonds. At the end I asked if they were closing the issue at the end of that day & I was asked to hold as the person I was talking to hadn't heard anything. When she came back she said that the issue was indeed closing yesterday. The one year bond on their website now is 4.2%, down from 5.6% AER.
Bob

silversand

I applied for one of these a week or so ago and I only got the details in the post today.

The letter says 5.6% but I don't have another BM account so I have to send a cheque off which'll take even longer, and I haven't done yet as I literally got the letter about two hours ago. Will they still honour it?

charlieboycat

silversand wrote: »

I applied for one of these a week or so ago and I only got the details in the post today.

The letter says 5.6% but I don't have another BM account so I have to send a cheque off which'll take even longer, and I haven't done yet as I literally got the letter about two hours ago. Will they still honour it?

Based on my own past experience - yes, provided you return it promptly. Might be worth a phone call (quoting your a/c number) to confirm.

nilrem_2

silversand wrote: »

I applied for one of these a week or so ago and I only got the details in the post today.

The letter says 5.6% but I don't have another BM account so I have to send a cheque off which'll take even longer, and I haven't done yet as I literally got the letter about two hours ago. Will they still honour it?

Silversand, I am in the same position as you having applied last night when the account was still active, I have just spoken to BM on the phone and they say that as long as they get the cheque by a certain date, (possibly 12th Dec) they will honour the rate at the time it was applied for i.e. 5.60%.

silversand

Fantastic, thanks both of you Will get the cheque off tomorrow!

Then after that I've got all the money I can afford to have fixed in fixed rate accounts so I can relax - for 11 months anyway! I feel like I've spent the last two months chasing my tail

Mikeyorks

silversand wrote: »

The letter says 5.6% but I don't have another BM account so I have to send a cheque off which'll take even longer, and I haven't done yet as I literally got the letter about two hours ago. Will they still honour it?

With the 6.85% one they pulled in early Nov ...... they accepted pre-created application forms right up to 30th Nov. Not sure they will be that benevolent with this one (the Nov one stretched their resources considerably ... so I think they took that into account) .... but they're likely to give you at least a week to get it back

Paulina_Fortune

I just rang the Birmingham Midshires about the 1 yr bond to see if they had received my cheque. They confirmed that they had and that I'd got the 5.60% rate.

They also said I had until 12th Dec to get any additional funds in.

It looks like every one who applied before this was withdrawn and gets their cheques or money to them before 12th Dec should be ok.

Paulina.