Monmouth Flexible saver withdrawn

castle96

OK I see that, but if you already have £12k in the account now (pre 31/3/12) and the offer is closed, how can you put another £12k in on 1/4/12 ?

pqrdef

eviekins wrote: »

Why is opening savings accounts never simple, it's always such a faff!

It's not over yet, wait until you want some money out. Or preferably don't wait.

You'll find the withdrawals function on the website is disabled. It says to send them a message to ask them to enable it. Do that, and they will tell you that they won't, you have to register your bank account first. Do that, and then they'll send you a letter which you have to sign and return to confirm it.

That's as far as I've got, and I'm not putting any money in until I think I can get it out on demand. Though the limit on withdrawals discourages me from doing an actual test (not really a satisfactory situation, these things can fail and always need testing).

oldfella

castle96 wrote: »

OK I see that, but if you already have £12k in the account now (pre 31/3/12) and the offer is closed, how can you put another £12k in on 1/4/12 ?

because its closed to new applications - you have an account so can deposit and withdrawal

Stompa

pqrdef wrote: »

You'll find the withdrawals function on the website is disabled. It says to send them a message to ask them to enable it. Do that, and they will tell you that they won't, you have to register your bank account first. Do that, and then they'll send you a letter which you have to sign and return to confirm it.

That's as far as I've got, and I'm not putting any money in until I think I can get it out on demand. Though the limit on withdrawals discourages me from doing an actual test (not really a satisfactory situation, these things can fail and always need testing).

To be fair, they do mention that here:

http://www.monbs.com/my-accounts-frequently-asked-questions0344/

though I agree it does sound a bit of a pain.

SallySunshine

I think because this is basically a non-internet account.
Plenty of info here. This was the original thread.

https://forums.moneysavingexpert.com/discussion/3735137

Gromitt

pqrdef wrote: »

You'll find the withdrawals function on the website is disabled. It says to send them a message to ask them to enable it. Do that, and they will tell you that they won't, you have to register your bank account first. Do that, and then they'll send you a letter which you have to sign and return to confirm it.

and then you have to wait a week for them to approve the request. I'm surprised they didn't go the whole 'Paypal-style' security and deposit a random amount into the account and then ask you for this amount to prove its yours.

On the plus side, at least they provide a freepost envelope!

and its pretty secure - its unlikely someone is going to login, setup a new bank account and then withdraw all your money without someone (hopefully you) noticing.