NOW CLOSED - Northern Rock 4% AER, 180 day fixed rate notice account (max term 5 yrs)

Johnny_Doe

Just wondering if anyone has received welcome pack yet? Cut off for deposits is very close how are we expected to fund this account if we dont have details?? Cheers

mike88

Received mine on 7 April - see a couple of posts up.

premierfella

They don't like to make it easy do they!

I got a pack Friday (over a week after applying online). I sent a Faster Payment Monday, which bounced back same day.

The only reasons I can think of for the payment bouncing are either:
i) NR need to have received a signed "Acceptance of Account Form" (which is in the welcome pack) or
ii) (possibly) the opening deposit needs to match a number put on the application (I can't recall if that was on the application form or not).

Thankfully, a credit union notice savings account I pay into has been paying a similar dividend rate to this 4% rate anyway with shorter notice terms, so I'm just going to bin my NR paperwork now.

Johnny_Doe

mike88 wrote: »

Received mine on 7 April - see a couple of posts up.

Sorry I meant more recently obviously

Rollinghome

premierfella wrote: »

They don't like to make it easy do they!

I got a pack Friday (over a week after applying online). I sent a Faster Payment Monday, which bounced back same day.

The only reasons I can think of for the payment bouncing are either:

The reason is because they have a systems problem which needs each account to be manually configured to accept faster payments which are rejected until that's done. In my case, with the earlier 4.3% offer, I had to ask them three times before they got it working.

MarkFromCornwall

Rollinghome wrote: »

The reason is because they have a systems problem which needs each account to be manually configured to accept faster payments which are rejected until that's done. In my case, with the earlier 4.3% offer, I had to ask them three times before they got it working.

Yes, my FP bounced back yesterday. I called them and they say they will configure my account to accept FP but it will take 24 hours. Some banks seem desperate to slow down the introduction of FP!

Johnny_Doe

Hi there, Is there a limit on how much you can FP? ie 10k or can you split say 2 or 3x 10k payments? thanks

premierfella

http://www.ukpayments.org.uk/faster_payments_service/value_limits/

The link details the absolute maximum limits - which will be those that apply at the sending bank rather than Northern Rock. IIUC some of these limits are per payment and some per day (i.e. cumulative total of payments), depending on the bank, and the actual limits applied when you send your payment may or may not be lower than the limits quoted on the above link.

Johnny_Doe

Cheers premierfella,

I rang Lloyds TSB only to be told the max on FP is £500! (even though that website states £20k by phone) She said the only way I'm going to get the money in tomorrow is by CHAPS and a nice £30 fee for doing next to nothing .. what a wonderful banking system we have!

Can I multiple FP £500 up to 25k? lol

I'm getting dejavu here with the last bond I did with Newcastle chaps on last day..

tillycat123

I sent mine Monday they received it and cashed the cheque I sent Tuesday. I stuck another cheque in the post to them yesterday to be there for today. I would pop a cheque in the post 1st Class today and fingers crossed all should get there for tomorrow and be fine.

I was really surprised how quickly they processed it.