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

LilithsBrother

I received the paperwork from BM this morning,did anyone else have to send copies of "Documents Required" passport,driving licence etc?....i didn't have to send any of that to Halifax when i transferred last year ?.

momist

It looks today like they expect that this account will still be available in the new ISA tax year. Here's an extract from their current offer page where you start the application process:

"
How to apply

• Apply online
  Your last date to apply for the tax year 2011/2012 is 29th March 2012.
  Deposits must be received by 5th April 2012 to qualify.
  You can apply online for tax year 2012/2013 from 30th March 2012.
  Apply for this account online if you're 18 and over.
• Apply by phone
  Call us to request an application form for tax year 2011 / 2012 or tax year 2012/2013.
  Your last date to apply for the tax year 2011/2012 is 29th March 2012.
  Deposits must be received by 5th April 2012 to qualify.
  Apply by phone on 0845 602 2828 if you're 16 and over
  Lines are open Monday to Saturday 8am-8pm"

RMN05

BEWARE ! there are contradictions between Online applic & telephone applic, despite apparent option on website which suggests method is your choice. and form posted out for signature is same for either method. - had to have long dialogue with manager yesterday to unravel anomalies. Online form suggests only method of payment is by cheque and there is no choice re transfers of eralier ISAs. Online only results in postal slip to confirm details submitted. Whereas form sent out as result of phone applic allows you choice of cheque payment or internal transfer from other BM savings account, and will include forms for transfer of earlier ISAs with other providers. Manager agreed that contradictory outcomes needed referral to inhouse meeting to correct anomalies. It seemed that no other enquirers had picked up contradictory scenarios. I only discovered following initial call to clarify mechanics of applic process, when then conflicted with subsequent attempt to use internet applic.

veryintrigued

Looks like this has been reduced to 3.9% now?

momist

veryintrigued wrote: »

Looks like this has been reduced to 3.9% now?

3.98% is the rate for monthly interest. Apparently, there are buttons on the left hand side of the first screen which lets you choose to apply for either monthly interest or annual interest. Martin's link goes straight to the monthly interest application. The annual interest rate is still 4.05%, but if you have applied for the wrong product you have to make a new application to get the right one, and be careful which confirmation slip is returned.

momist

RMN05 wrote: »

BEWARE ! there are contradictions between Online applic & telephone applic,

This had me worried enough to phone them just now. They tell me that the forms sent out will be the same whichever way the application is received, and that transfer documents are included in the pack.
However, I also discovered that I had applied for the wrong product, see my reply to post #55.

veryintrigued

momist wrote: »

3.98% is the rate for monthly interest. Apparently, there are buttons on the left hand side of the first screen which lets you choose to apply for either monthly interest or annual interest. Martin's link goes straight to the monthly interest application. The annual interest rate is still 4.05%, but if you have applied for the wrong product you have to make a new application to get the right one, and be careful which confirmation slip is returned.

Not sure on this - looks to be 3.9 from yesterday

http://www.bmsavings.co.uk/savings/fixed-term-savings/776/2-year-fixed-rate-bond-monthly-interest.aspx

xylophone

veryintrigued wrote: »

Not sure on this - looks to be 3.9 from yesterday

http://www.bmsavings.co.uk/savings/fixed-term-savings/776/2-year-fixed-rate-bond-monthly-interest.aspx

This is not an ISA. The fixed rate 2 yr ISA at 4.05 is still on the list.
http://www.bmsavings.co.uk/savings/isa-savings/

veryintrigued

xylophone wrote: »

This is not an ISA. The fixed rate 2 yr ISA at 4.05 is still on the list.
http://www.bmsavings.co.uk/savings/isa-savings/

Note to oneself - I am a plank

xylophone

"Note to oneself - I am a plank"

Don't be so hard on yourself - it's so very easy to get confused in the welter of information!;)