Newcastle Building Soc - New 5 year-5% BOND (Not an ISA) NOW CLOSED

North-East_Quine

I phoned NBS this morning. I was told that only the initial direct debit deposit I made at the time of application would be accepted and that no other deposits could be made now. I said I thought I could pay in additional money up to 24 July but was told no.

anselld

info_addict wrote: »

Looks like Newcastle may have stoppped faster payments into the bond.

Last week I managed to make these transfers, but this morning, both my wife and I tried again from our Halifax accounts and got the message

This message was after it confirmed that a Faster Payment could be made and received in 2 hours.

The confirmation email said


I would assume that they will now only accept Chaps, Bacs and cheque submissions, which have to be with them by close of play this coming Friday

I suspect that is more likely to be a Halifax problem. Their FP is very flaky in my experience.

Richchad

I applied for the easy access online savings account a couple of days ago so I could 'view' my 5 year bond, received a User ID today but no mention of password to follow just you will require this to operate your account on line....

Does a password follow this, anybody know how long it takes?

msun

Hmm - When I phoned NBS, they were quite positive to say that the 5 year Bond account is strictly a passbook off-line one.

I got them to double check this and they "confirmed" that no on-line access was possible with this account.

This make operating the account sonewhat inconvenient if you live south of York...

zzzLazyDaisy

Richchad wrote: »

I applied for the easy access online savings account a couple of days ago so I could 'view' my 5 year bond, received a User ID today but no mention of password to follow just you will require this to operate your account on line....

Does a password follow this, anybody know how long it takes?

When you opened your easy savings account, did you confirm that you are already an account holder with your bond? If so, the password is the one you provided when you applied for your bond. You will also need the memorable name, date etc that you gave.

apt

msun wrote: »

Hmm - When I phoned NBS, they were quite positive to say that the 5 year Bond account is strictly a passbook off-line one.

I got them to double check this and they "confirmed" that no on-line access was possible with this account.

This make operating the account sonewhat inconvenient if you live south of York...

The account was not available through the branches anyway. Presumbly you write to the head office if you want to give 90 days' notice for a withdrawal.

info_addict

I suspect that is more likely to be a Halifax problem. Their FP is very flaky in my experience.

It could possibly be. But I found it surprsingly good when I did my faster transfers on Thursday. It allowed me 13 separate £500 tranches (£6,500), before it stopped the FP and said 3 days Bacs. Then I simply transferred the remainder into another of my 3 reward accounts and did the remainder by FP. So no troubles for me.

It's just a heads up for those who may be wanting to FP into their bond this week. If they can't then get it there by cheque or the dreaded Chaps

zzzLazyDaisy

msun wrote: »

Hmm - When I phoned NBS, they were quite positive to say that the 5 year Bond account is strictly a passbook off-line one.

I got them to double check this and they "confirmed" that no on-line access was possible with this account.

This make operating the account sonewhat inconvenient if you live south of York...

If you open an e-saver account, this is operated on-line. When you go on-line to use your e-saver account, you can also see your 5 year bond. As far as actually giving 90 days notice and withdrawing money is concerned, afaik that can't be done on-line. tbh that doesn't worry me too much as these are long term savings for me - the 90 day notice is just a fall back in case interest rates start to rise during the term and I want to move the money to a better account so I'm willing to put up with the inconvenience of dealing with withdrawal requests by post (I'm also a long way from N'castle).

anselld

info_addict wrote: »

It allowed me 13 separate £500 tranches (£6,500), before it stopped the FP and said 3 days Bacs

Thats the problem with HFX - stupid small amouts allowed, then I think you have to wait 3 working days for it to "reset" once you have tipped it over the edge. Compare with First Direct 10k in one hit and repeat next day, no problem.

Suspect if you wait till Tue you can go FP again.

zzzLazyDaisy

info_addict wrote: »

I did my faster transfers on Thursday. It allowed me 13 separate £500 tranches (£6,500), before it stopped the FP

Grrrrrrrrrrrrrrrr.......... I didn't realise it is possible to do multiple fp payments to the same institution. For some reason I thought they were limited to one a day :rolleyes:

Could someone tell me please what LTSB's limit is for faster payments? Is it also £500? I have my Bond up and running, so I might just try topping it up with a fp on Monday, on the off-chance, and see what happens.