BM Savings - 2 year Fixed Rate ISA - 4.05% AER

Newly_retired

Sorry codetown I could copy but I cannot paste the address.

Newly_retired

I think it was
BM [EMAIL="BMCCUExternal@birminghammidshires.co.uk"]CCU External@birminghammidshires.co.uk[/EMAIL]
Not sure about the spaces.
Hope this helps

brewerdave

I think BM must be snowed under with all the last minute transfers and new subscriptions. My wife moved her maturing Leeds fixed ISA to BM in April, Leeds told us that the account was closed on 2nd May and cheque sent to BM ..but nothing yet from BM to confirm deposit made.

bujin

Having never had an ISA before, this question will probably seem a bit dense, but I applied for this ISA and received today an acceptance on the 2yr fixed rate, but the rate mentioned is not the 4.05% but 3.98 % interest. Can someone explain why? Thanks

innovate

You appear to have been lucky there- their 2 year fixed rate seems to be down to 3.6% (annual interest) / 3.54% (monthly interest) now .

Did you apply for monthly interest?

bujin

Aahh, you got it. I knew there had to be an explaination.Thanks.

Yes it seems I just made it, I sent off my forms on April 28th, just to give others some time guidance. Thanks again.

dggar

bujin wrote: »

Aahh, you got it. I knew there had to be an explaination.Thanks.

Yes it seems I just made it, I sent off my forms on April 28th, just to give others some time guidance. Thanks again.

Sent mine off on 27th April and still waiting to hear back. Has anyone else posting after 27th received a reply yet?

dggar

How long should I expect to wait to hear something from BM.

I made the initial online appliction on 17th April and received the pack with a covering letter dated 19th April (with an account number) asking for ID and funds .

The ID and cheque were posted on 27th April in the
Self Addressed Envelope supplied by BM.

The cheque has not been cashed yet and I have nothing from BM

I phoned BM on 14th May and was told the application was recieved on the 20th April.

Does anyone from BM monitor this forum?

I don't know whether the cheque and ID have been mislaid in the postal system or if they are awaiting processing by BM
or misplaced somewhere in BM.

codetown

i have to say that I very disappointed at how BM Savings managed this account. While the rate is good, they were expremly slow with my application, claiming to have lost contact with my old isa provider (which instead sent immediately the check and details for my investment). Also the communications from BM has been extremly poor, as they have not sent enough details, and now, over a month after completion of my transfer I still haven't received a letter from them confirming it or the balance!!!!

Can anyone tell me what sort of written documentation are you receiving from BM Savings regarding this ISA? How often are they supposed to send statements out (I am on the monthly option)?

Newly_retired

I have still received no paperwork for the one I opened in mid April, other than the initial one requesting various returns.
Just an e-mail confirming transfer of funds to their ISA from their saver.