NOW CLOSED Newcastle 3 year bond, 4% with 90 days notice to withdraw

Rollinghome

evenasus wrote: »

I'm trying! Well, have opened it with just £1K - but having to transfer money from other accounts to the nominated account then to Newcastle is a 6 day performance.

Anyone know if Newcastle accept debit card payments? Into a bond that is.

Update.....Just phoned them and afraid not.

Surest way is BACS or CHAPS using the reference or account number.

That's the trouble with that email list. Once it appears on that there's a mad scramble and it's easy to pull money from one account and find the new account has got its funding and has reduced its rate or closed. As with the Ulster Bank Pathway recently.

evenasus

Rollinghome wrote: »

Surest way is BACS or CHAPS using the reference or account number.

Trouble is, funds being transferred from two different institutions. Good old Bradford & Bingley (as was) only took two days - but the other institution obviously must be taking three.
I will make a chaps payment first thing tomorrow.

I did take up their 5 year 5% bond last year but couldn't get all the money (I wanted to put in) there before they closed it.

So avalanche, stop shouting about it!

avalanche_3

Rollinghome wrote: »

You still seem to be missing the point.

The banks and BSs need a specific amount of funding within a certain period. Once they have that funding or if it comes in faster than anticipated they either end the issue or reduce the rate. They won't take more money than they need just because more people apply or withdraw it before they have the necessary funding as you seem to assume. If the funding doesn't come in as fast as they need they increase the rate; if it comes in too fast they cut the rate.

More publicity doesn't mean they will accept more money or there will be more accounts.

The banks and building societies benefit from publicity because it enables them to get their required funding at a lower rate than otherwise. Why else would they pay for advertising?

Rollinghome you are the one that is missing the point:

This site is set up to help people find the best rates available at any one time. I understand that may mean an offer closes down faster because the bank gets the funding faster.

But if you watch this site every day you will get the best offers without having to trawl all the Banks or waiting for the advertisement in the papers or magazines which take too long to come out and you miss the offer.

If you don't think the interest rate on offer is good enough then you can choose not to suscribe to an offer.

If you miss this offer watch this site closely because another bank may well come out with an even better offer and a moneysavingexpert like myself will no doubt spot it before the National press do.

twizzel

Reaper wrote: »

I see MSE have now included it in their Top Savings Accounts.

...and it now looks like this product offer has been closed. It's not on the Newcastle BS web site anyway.

avalanche_3

twizzel wrote: »

...and it now looks like this product offer has been closed. It's not on the Newcastle BS web site anyway.

This Bond offer is now closed.

I warned you it was a good limited offer over 2 weeks ago!

Charterhouse

Yep, looks like they've got some good inflows lately the next best on their website is 3.4% which is still fairly good.

evenasus

evenasus wrote: »

Trouble is, funds being transferred from two different institutions. Good old Bradford & Bingley (as was) only took two days - but the other institution obviously must be taking three.
I will make a chaps payment first thing tomorrow.

I did take up their 5 year 5% bond last year but couldn't get all the money (I wanted to put in) there before they closed it.

So avalanche, stop shouting about it!

avalanche wrote: »

This Bond offer is now closed.

I warned you it was a good limited offer over 2 weeks ago!

So I saw when I checked their website this morning.

I blame you avalanche!

I rang Newcastle straight away and told them that I was about to make a chaps payment into the bond. The person I spoke to checked and said that my bond was still active and that I could go ahead. Phew!

I opened this bond last week, with instructions to fund the initial deposit by direct debit. This still has not been actioned, (funds still sitting in nominated account) although I dont know how long that would take to set up.
I did though, transfer a sum from the online saver I opened with them, when I opened their 5 year bond last year.

thepearce

Thanks again. I've been putting money in by Faster Payments. £1k a time, from my nominated account, using the details they gave for initial deposit.

Having checked a few days ago these were being added to the account the day after the FP. Each time I was thinking that'd be it before it closed.

Just checked - last payment hit yesterday (made over the weekend)

Wolf_Man

Did the online application last night, with the DD going out on the 24th.

I just phoned them and was told that they would honor my application, even though in the small print it says that they can close the bond if they have not received the funds on the closing day.

atypical

Wolf_Man wrote: »

I just phone them and was told that they would honor my application, even though in the small print it says that they can close the bond if they have not received the funds on the closing day.

I have an email confirming the same:

"I can confirm you will be able to fund the account now that it has been opened (even if the account were to close to customers in the mean time)."