Barclays Monthly Saver maturity question

anna42hmr

can any one answer me a quick question please

i opened up the barclays monthly saver on 21st november 2008, it is due to mature 20th november 2009 (tomorrow) does any one know when i can withdraw the money (ie is it tomorrow first thing, or does it mature at a certain time in the day, or overnight between the 20th and 21st november??)

i have the barclays e-saver so fingers crossed should be able to use that to withdraw into an outside account, or failing that can withdraw in branch

bendix

It's a monthly saver. It has no maturity date. You can take the money out any time you want and, indeed, could have taken it out at any day during the last year.

You are confusing the fact that the interest was fixed for a year, with maturity and access.

bootman

I had barclays do a faster payment to my lloyds a/c the day after it matured. You need to make sure the final bit of interest gets paid first before you close it.

anna42hmr

bendix wrote: »

It's a monthly saver. It has no maturity date. You can take the money out any time you want and, indeed, could have taken it out at any day during the last year.

You are confusing the fact that the interest was fixed for a year, with maturity and access.

the reason i was asking is because if i sign on to barclays on line there is no way to withdraw from the fixed monthly saver at the moment (not even to transfer into another barclays account) however i have been told once the account term has "matured" ie when it becomes a "more for more" savings account and not the regular saver account i will be able to withdraw (as at the maturity of the account it stops being a regular saver account and becomes an instant access standard saving account)

Biggles

bendix wrote: »

It's a monthly saver. It has no maturity date. You can take the money out any time you want and, indeed, could have taken it out at any day during the last year.

You are confusing the fact that the interest was fixed for a year, with maturity and access.

No, it does mature after 12 months and then ceases to be a monthly saver.

If you make a withdrawal before then your interest rate is affected.

http://www.personal.barclays.co.uk/BRC1/jsp/brccontrol?task=homefreegroup&value=14937&target=_self&site=pfs

bendix

Really?

Then I apologise unreservedly for my reply. Mea culpa.

anna42hmr

anna42hmr wrote: »

can any one answer me a quick question please

i opened up the barclays monthly saver on 21st november 2008, it is due to mature 20th november 2009 (tomorrow) does any one know when i can withdraw the money (ie is it tomorrow first thing, or does it mature at a certain time in the day, or overnight between the 20th and 21st november??)

i have the barclays e-saver so fingers crossed should be able to use that to withdraw into an outside account, or failing that can withdraw in branch

any one know for certain as to when it officially matures??

anna42hmr

have just signed on this morning onto barclays online site, it now appears to give me the option on transfering between the 2 accounts (monthly saver and the e savings) which it didnt before, but the interest has not been paid yet for 1.11.09 to now and it is still titled monthly savings????

10_66

anna42hmr wrote: »

i opened up the barclays monthly saver on 21st november 2008, it is due to mature 20th november 2009

anna42hmr wrote: »

have just signed on this morning onto barclays online site, it now appears to give me the option on transfering between the 2 accounts (monthly saver and the e savings) which it didnt before, but the interest has not been paid yet for 1.11.09 to now and it is still titled monthly savings????

I opened mine on day 6, and the anniversary was also day 6, not day 5 (as in your example of 21st and 20th). However, the final interest added showed the dates from the 1st to the 5th. I drew mine out immediately.

anna42hmr

10_66 wrote: »

I opened mine on day 6, and the anniversary was also day 6, not day 5 (as in your example of 21st and 20th). However, the final interest added showed the dates from the 1st to the 5th. I drew mine out immediately.

thanks, it was a previous conversation with barclays that i was told the maturity would be on 20th, so maybe it is the 21st and they got the info wrong

just hope that if thats the case that tomorrow being saturday doesnt delay it further lol as want to move the money into a higher interest rate account as soon as the interest is paid

anna42hmr

well transfered the money out today the final interest was applied over night