Close Savings 3 Yr Fixed: is it worth fixing for 3 yrs

D1zzy

Speculator wrote: »

I might be wrong but I think you are only allowed to write one cheque per application.

Agree it was a bit confusing - but opened both accounts so sent a cheque for each -assumed they meant you could only pay 1 amount into each account. Did try phoning, but clearly they have abandoned the phones

triplea35

In opting for the 18month option gambling on rates might rise you have to remember that to make up for the lost 1% interest over the first 18 months you will need to get slightly over 6%pa in 18months time for the following 18 months just to make up for the 'lost' interest in the first 18 months.
HTH

Careful_ly

Has anyone had their cheque cashed for these accounts?

Application posted 1st class on Thursday (3rd), I would have expected the cheque to leave account on Tuesday/Wednesday, but funds still sitting there.

D1zzy

Not me - cheques posted Friday. Really bugs me to see all that money sitting in a zilch interest current account :mad:

alanq

Delivered application+cheque by hand to office on Thursday afternoon, funds taken from my current account Monday, confirmation of opening account arrived in the post today (Wednesday).

First dealings with Close Brothers very satisfactory.

soulsaver

Ifts wrote: »

When I spoke* to Close Brothers (post#8) they advised me that interest on £50000 and above will be paid out gross to your linked account, in which case you would have to contact HMRC to declare the untaxed interest and pay any tax that is due.
For amounts below £49999 interest will be taxed before it is paid out to your linked account.

So if you wanted to deposit up to the new FSCS limit of £85K just open two accounts.

*This is what I was advised to do when I called them yesterday afternoon to check a few things and ask for an application form to be sent out to me, which I received in the post today! If you want to call them their number is 02073921772, they answered straight away and were very helpful.

They've told me 2x 3yr accounts are not allowed, except you can have one and a joint; or a 3 & an 18mth.
You can print off the application form from the webby if you'd prefer not to risk the mail. And they implied that the account is not likely to be available after this week end, and may closed even before that due to demand.

Ifts

soulsaver wrote: »

They've told me 2x 3yr accounts are not allowed, except you can have one and a joint; or a 3 & an 18mth.

Soulsaver - Thanks for pointing this out, I have just phoned them again (phone answered quickly) to query this and it seems you are correct, you are only allowed to have one of each of the accounts. You can open 1 x 3yr and 1 x 18 mth.

Seems like I was given incorrect info the 1st time I phoned them, but luckily for me I applied for 1 of each of the accounts anyway, the 3yr and the 18mth account.

Speculator

Careful_ly wrote: »

Has anyone had their cheque cashed for these accounts?

Application posted 1st class on Thursday (3rd), I would have expected the cheque to leave account on Tuesday/Wednesday, but funds still sitting there.

My application was also posted 1st class on Thursday and the money has left my current account today (Thursday).

Careful_ly

Funds have left my account today, so must have been banked on Tuesday, not too much of a delay.

I wonder how we will open accounts after cheques have come to and end.

ANGLICANPAT

Im posting my application form/cheque off !st class today. From whats been said, does it seem a pretty safe bet then not to move money into the cheque account Im funding from, until next Sun night?