Maturity of fixed bonds

1socrates1

I had 2 fixed bonds with HSBC which matured on the 2 January. I have been paid the interest into my account but when I look at my accounts via the internet the original money invested is still in the bonds and not transferred into my account. Will this happen tomorrow, being a Monday? or must I physically go down to my branch and get them to make the transfer (in my terms of contract the money should have automatically been transferred).

dunstonh

As the fixed term deposit didnt mature on a working day, you would expect it to be transferred the next available working day.

However, some FTDs do require you to tell them what you want to do with them in advance. You say the terms are that it will be automatically transferred. So, that is what you should expect....on Monday.

1socrates1

I understand but what was interesting was I was paid the interest on the 2nd (yesterday which is a Saturday).

dunstonh

1socrates1 wrote: »

I understand but what was interesting was I was paid the interest on the 2nd (yesterday which is a Saturday).

Saturday is not a working day. The banks will process transactions over the weekend and many automated transactions going through monday will appear on your running statement over the weekend.