Are they having a laugh?

Deanevans

Still chasing around after that last extra bit of interest, but is it all worth it? At last count I have had 76 accounts or "financial products" in last 4 years. Recently decided to dump NatWest e savings account when bonus period ended. Phoned Nat West to close account and was told that I had to visit local branch. This I did and was told that it would be 5 days before I got a cheque for the amount. They couldn't arrange to transfer direct to another account, even one of my current accounts. More than a week later I received a hand written cheque for the balance. Another trip into town to pay into Alliance & leicester current account but money still not accessible due to royal wedding / may day etc. When money is eventually "mine", probably not until next week, it will be a few more days before it is safely lodged in another account that will provide a few pence more interest. Interest, that is, at a rate that will not keep up with inflation but will reduce my age related tax allowance once I turn 65. Anyone got an OXO tin I can put under the bed?

noh

Why didn't you transfer the the entire balance out by faster payments using online banking? After all the e-savings accounts are designed to be operated online.
Then close the account. Or leave it open with zero balance.

Deanevans

I didn't get round to setting up the online access at the time, as I wasn't intending to access the account during the year, but didn't go for a fixed rate account as there was a slim chance that i would need the money. So when time came to close the account the pin numbers etc I had originally been sent were no longer active.

noh

Deanevans wrote: »

I didn't get round to setting up the online access at the time, as I wasn't intending to access the account during the year, but didn't go for a fixed rate account as there was a slim chance that i would need the money. So when time came to close the account the pin numbers etc I had originally been sent were no longer active.

Thats why you are experiencing delays.
The e-savings account is designed to be operated online only, with faster payments in and out. I have one that I use for spare money that I may need instant access to. Find it works very well.