Electronic Transfer fee to close account

mermaidnwuk

Hi, there everyone - hoping someone can advise.

I have been stoozing on a 0% card with no problems, banking the money in a Regular Saver Bond. When both 0% card and Bond come to their respective ends, I would like to transfer all the money and close the Bond in readiness to pay the final bill on the 0% card.

However, the charge being quoted by the Bond holder is £37.50 for an electronic transfer to my designated receiving account - no alternatives offered :eek:. This chews up a significant amount of the interest earned (stoozed) on the money saved in the Bond.

Can anyone suggest a less expensive method of closing the Bond and getting my money?

Thanks for any and all help given.

Fruit_and_Nut_Case

:eek: indeed.

Was this mentioned when you opened the bond? It seems very restrictive. I don't know if it would be classed as an "unfair" restriction. I hope you can work something out.

mjthomas0

hello good morning!

Fruit_and_Nut_Case

mjthomas0 wrote: »

hello good morning!

Go away and stop spamming your business here.

noh

Who is the savings provider? At a guess I would say it is Principality Building Society.
A similar situation has been discussed previously probably on the savings forum.
The alternatives are a CHAPS transfer, which you have been offered, or a cheque posted to you.