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

dov

evenasus wrote: »

Not to the bond but to my Newcastle Online Saver.
I sent a faster payment from Halifax on Monday (27th) but it is still not showing on my account yet. I did receive an email from Halifax 15 minutes after I sent the payment.
Wonder where it is?

7 out of 8 faster payments went through ok for me. I need to sort out the last one though. The payments took a few days to show up on the relevant accounts but you do get interest paid from when they receive the money so for faster payments its the same day if you don't do it too late (before ~10pm?)

evenasus wrote: »

Seriously though, I would have thought my payment would be showing today.
I'll check again in the morning, and if there's no sign I'll give them a ring.

I'll be doing the same for my missing transaction...

G_M

I know, I told you:D;)

Sorry I didn't make the connection! Thanks!

Lorian

Finally got the details for my online saver account, logged in and am pleased to say I can see the Five Year bond, and the money is there :j

intalex

Does anyone know when they pay the interest for those who opted for monthly interest? Is it on the same date each month as account opening, or is it at the end/beginning/another fixed date each month?

twokcc

Terms say last business day of each month so August should be Friday 28th

malik999

I'm so glad i got in on this account (5% / 90 day notice) I haven't seen anything to better it.
Thank you to whoever it was who originally posted the details.#
My only regret is i didnt notice they were also doing a ISA.

cv65user

I am just concerned. how do you take your money back out when it matures? They say they will just convert it to an ISA as after 5 years what proof do i have to take my money back other then a pass card with my balance printed on it ?

i did mine over internet , and theres no NBS in London ? So am i better off adding myself as a BACS payee . When it matures to then transfer it via BACs ?

Also is there a 90 day PDF withdrawl form i need to download for keeps sake? I am pretty sure I asked them to send me one whislt i was checking if they received my BACs fund. But I dont think I ever received it.

What I have done , is opened an online saver with £1 in it and I can now view my 5 year bond. But how long or how often must i touch my account is it until they remove it thinking it is a dormant account?

Arthurian

Don't worry, the new rules which allow banks to take your money if you don't touch it for a couple of years don't apply during the term of fixed rate bonds, but only after they mature. If you took out the 5% ISA, I would look around for the best deal at the end of the 5 years (or earlier if rates generally skyrocket), and take all your paperwork to whichever provider is offering the best deal. Ask them to sort out transferring your ISA. To give the 90 days notice, I think you just have to write to them, but to keep the ISA tax-free benefit, you'd have to make it clear you want the money transferred to your new ISA, not just moved out to your online saver or other non-ISA account.

cv65user

i took out the 5yr 5% bond

but I already have an exisiting ISA with halifax?, I would prefer for it to go into a current account, then i can manage it or open ISA with a different provider if better rate. Or it will let me transfer all the money in the bond into an existing halifax ISA then i can take it out as and when because i have 3 free non penalty withdrawls ? but i have more then the 3600 cash isa thresh hold?

Baldur

cv65user wrote: »

i took out the 5yr 5% bond

but I already have an exisiting ISA with halifax?, I would prefer for it to go into a current account, then i can manage it or open ISA with a different provider if better rate. Or it will let me transfer all the money in the bond into an existing halifax ISA then i can take it out as and when because i have 3 free non penalty withdrawls ? but i have more then the 3600 cash isa thresh hold?

A normal fixed rate savings account (or 'bond' in marketing-speak) can't simply be converted into a Cash ISA - a specific Cash ISA application has to be completed for the tax year in question, along with the HMRC ISA specified declarations; so it's simply not possible for any institution do do this without your intervention.

You appear to be reading the Terms & Conditions of the similarly-named FRISA (see the first page of posts on this thread) and confusing yourself in the process.