Close Brothers 2 Year Fixed Savings

innovate

ognum wrote: »

Do they have protection from FSCS

Yes

ognum wrote: »

and if so are they affiliated to another bank?

No.......................................................................................

badger09

innovate wrote: »

Yes


No.......................................................................................

ognum wrote: »

thanks for this but would you care to expand?

innovate is obviously busy toinight :rotfl:

Have a look here re FSCS protection, groups etc

http://www.fsa.gov.uk/Pages/consumerinformation/uk_groups/index.shtml

skitskut

david236 wrote: »

That's interesting, just got my re-investment invitation at 3.75%!!!! Should I feel offended?

David

You're lucky! I reinvested just a few wks ago at 3.50% for 2 yrs.

Blackdog

I see from the Close Savings website that this 2 year fixed rate is now closed due to exceptional demand. Does anyone know when they closed it? Last week I sent them an application form and a cheque which hasn't been cashed so I don't know if I was lucky enough to get my application in on time or whether they will be returning the funds.

Old_Slaphead

Blackdog wrote: »

I see from the Close Savings website that this 2 year fixed rate is now closed due to exceptional demand. Does anyone know when they closed it? Last week I sent them an application form and a cheque which hasn't been cashed so I don't know if I was lucky enough to get my application in on time or whether they will be returning the funds.

If my previous experience is anything to go by (and I've had a few FRBs with Close) they allow several days after pulling a bond for 'in processing' monies/applications to go through.

badger09

Blackdog wrote: »

I see from the Close Savings website that this 2 year fixed rate is now closed due to exceptional demand. Does anyone know when they closed it? Last week I sent them an application form and a cheque which hasn't been cashed so I don't know if I was lucky enough to get my application in on time or whether they will be returning the funds.

Can't say definitely when this was withdrawn, but from past experience, they will honour the rate as long as they receive your funds before they withdraw the product, even if they haven't processed your application or cashed your cheque. Give them a call if you're at all concerned.

I've found them to be very efficient and have just reinvested maturing funds for 2 years @ 3.8% :T

Blackdog

Thanks Old Slaphead and badger09, you have both reassured me. I will see what the post brings in the next day or so and then give them a ring.

2010

badger09 wrote: »

I've found them to be very efficient and have just reinvested maturing funds for 2 years @ 3.8% :T

If they were all that efficient they would do their applications online and not have customer`s cheque`s (cheque`s in this day and age,) maybe worth thousands of pounds, hanging in mid air and losing interest.

buffman

Close Bros periodically offer excellent rates. However their application process is prehistoric. I have just been told that I must allow up to 10 business days for my bond to be opened. Now I have a cheque waiting to be cleared with the funds earning no interest. Great!

Old_Slaphead

2010 wrote: »

If they were all that efficient they would do their applications online and not have customer`s cheque`s (cheque`s in this day and age,) maybe worth thousands of pounds, hanging in mid air and losing interest.

You can open account by post and transfer funds online so your money's not hanging about (problem is some institutions, ie Nationwide, will only allow £10k transfer in one go and, I believe, you can only make 1 deposit to this bond).