NOW CLOSED - Newcastle Premier Bond - 4.2% AER for 6 months term

johnmoney05

m0n3y wrote: »

The Faster Payments took longer than one working day to appear in the online statement, but when I phoned they could see the true balance. I transfered about 10 am yesterday and took until this afternoon to show online, so don't panic if it takes more than 24 hours to appear!

You are not totally correct.

If you do the FP in the early morning, say before 7am, it will show up in the middle of the day.

I did twice, each with 10K. All showed the same day.

Ashen

Quick question - when I decide to withdraw, what do I need to do? I don't have a branch in the local area, and I transferred my initial sum by BACS. I tried going through 'make a transaction' to see whether that would do it, but it just says "You do not have any accounts which you can move money to."

Thanks

hgt

Ashen wrote: »

Quick question - when I decide to withdraw, what do I need to do? I don't have a branch in the local area, and I transferred my initial sum by BACS. I tried going through 'make a transaction' to see whether that would do it, but it just says "You do not have any accounts which you can move money to."

Thanks

If you can't see any accounts to transfer to when you look online... you just need to call up and ask them to set up a 'Linked account' for you (usually your Current account). Once set up, you can request withdrawals online.

Alternatively I'm sure you could simply call up to make the withdrawal request that way too (or give notice in this case).

hgt

johnmoney05 wrote: »

You are not totally correct.

If you do the FP in the early morning, say before 7am, it will show up in the middle of the day.

I did twice, each with 10K. All showed the same day.

From what I understand Newcastle BS check their Barclays clearing account at approx noon each working day. So sometimes you could be lucky and see the payment within a few hours. But worst case it may take until noon on the next working day.

plodder73

hgt wrote: »

If you can't see any accounts to transfer to when you look online... you just need to call up and ask them to set up a 'Linked account' for you (usually your Current account). Once set up, you can request withdrawals online.

Alternatively I'm sure you could simply call up to make the withdrawal request that way too (or give notice in this case).

I may be being stupid but my account is giving me the option to withdraw but I am not sure why, I thought you had to give six months notice? Am I being thick here?

johnmoney05

plodder73 wrote: »

I may be being stupid but my account is giving me the option to withdraw but I am not sure why, I thought you had to give six months notice? Am I being thick here?

They will only allow you to set up the earliest day in 6 months later. You can set it up on the internet.

plodder73

You can give notice to transfer the money out online the earliest date being 6 months from today. Presumably, they will closer to the time, ask you to confirm the transaction, as previously mentioned. Therefore why wouldnt everyone give their notice now are there any pitfalls to this?

Searcher2

SnowMan wrote: »

You will be getting 4.02% AER rather than 4.2% AER as per their webpage.

It makes no difference whether you opted for interest to be kept in the account or paid out, it is still monthly and so still 4.02% AER.

Not sure if there is a possibility of changing this now, you would need to contact them.

I chose monthly interest when applying and having just checked my account it says my interest rate is 3.95% (gross pa). I just rang them to ask about it and the lady said that if the interest is paid back into the same account then it equates to the same amount (4.2%). I am a bit suspicious as 4.02% is mentioned above. However she says you can change from monthly to annual interest (an presumably back) at any time online.

Could somebody who has applied for yearly interest confirm that online it says the interest rate is 4.2% please (by pressing the magnifying glass under Account Details in the Account Summary).

Ifts

Searcher2 wrote: »

Could somebody who has applied for yearly interest confirm that online it says the interest rate is 4.2% please (by pressing the magnifying glass under Account Details in the Account Summary).

I applied for annual option and online it says:

Interest rate (gross pa*): 4.20%

plodder73

Searcher2 wrote: »

I chose monthly interest when applying and having just checked my account it says my interest rate is 3.95% (gross pa). I just rang them to ask about it and the lady said that if the interest is paid back into the same account then it equates to the same amount (4.2%). I am a bit suspicious as 4.02% is mentioned above. However she says you can change from monthly to annual interest (an presumably back) at any time online.

Could somebody who has applied for yearly interest confirm that online it says the interest rate is 4.2% please (by pressing the magnifying glass under Account Details in the Account Summary).

Not sure thy anyone would choose monthly income and have it paid back into the savings account what would be the point of that, can only see monthly interest being of benefit if you have it paid to a bank account.