Maturing Britannia Fixed Rate Savers

apt

The 7.5% was good while it lasted, but the party is predictably over for Britannia Fixed Rate regular savers. If you do nothing on maturity in Nov/Dec you will get 0.15% gross in the maturity account. The alternative Britannia/Coop is offering is the 'Monthly Easy Saver account'. Here you have to keep saving monthly and will earn an exciting 2.1% interest rate. Even Britannia's standard Regular Saver with a guaranteed 3% bonus is better than this. So the best option is withdrawal to a non-Britannia account. Annoyingly, this has to be done by cheque.

Sceptic001

I got my letter this morning. Very disappointing range of options. And they didn't even enclose a SAE for reply!

So much for mutuality.

steady__eddie

Mine matures in another 27 days (and counting).
Looks like the co-op is losing another £3.1k.

Speculator

It's really annoying that they can't offer at least BACS withdrawals. Even thier much smaller rival, The Leek United BS offer it.

jack_spratt_2

1 year bond 3.25% ??? not great but in line with many other building societies !!

Co-op bank do BACS transfer on bond maturities so I do wonder why Britannia do not

theGrinch

they had a following on bond 3.5% not sure its still around, but it would have been on any letter you got.

RayWolfe

If they want to play these games - withdrawal by cheque - then I shall arrange to go ten miles to my nearest branch and withdraw in cash, walk round to my bank and pay it in. Done it before with the beloved Abbey.
Disgraceful that they make you do this today!

premierfella

Bear in mind Britannia's cash withdrawal limit, which is lower than Abbey - maximum £500 per account per day cash withdrawals at the counter according to their t&cs (although I admit that I do not know if they are able to increase this if they are given notice of the withdrawal in advance).

RayWolfe

Thanks but I intend to give them notice of the cash requirement.

premierfella

Does that mean they do allow higher cash withdrawals if given notice? (I ask because I also hold one of these accounts and would prefer to do what you are proposing RayWolfe and take cash rather than cheque withdrawal - my local branch being a distance but close enough to travel to).

RayWolfe

I have emailed them. Will let you know.