monmouthshire b socy/flexisaver

SallySunshine

Since funds matured on Saturday (Issue 1) and I'm not going to move/close them until tomorrow, will they have automatically now be accumulating the new rate of 2% or just frozen.

I can't find any correspondence for that rate, when the original one finished.

Was this just a follow-on for original savers?

I'm completely confused now, as I cannot find anything on their site except for Issue 1&2 being closed but nothing to take their place.

Gromitt

The rate was always 2%, with a bonus of 2%. The 2% bonus has now been paid/expired, so you'll get the original 2%, which is due to be paid in March.

SallySunshine

Yes, gromit, think I get it now. I was thinking that since the account had been 2% + bonus, they were then offering another years account at 2% to existing account holders. Obviously not.

We only bothered with issue 1 so could put the maximum in, in lump sum form.

Just been on my O.H. account.

They paid out the bonus on expiry date 9th.

So I will close the account tomorrow and mine next week.
That way I'll get the interest as well. Can't see any sense at all leaving anything in now. Plus they have nothing decent on offer.
Pity, but in theory it was rather old-fashioned and long winded account to handle, at least opening and closing.

butterfly72

Where are you all putting your 24ks? I want access so can't lock away for a year. All easy access rates are dire.

SallySunshine

Maturing funds will go into Santander at 3.2% but that finishes in July:(

Will use some to fill this years ISA's, probably stick the rest in Nationwide 2.4% Loyalty Saver. Keep eyes and ears open for anything else around.

Still trying to persuade O.H. to buy a small flat/house , surely must get more than 2%. Had a couple before and they did well.

Hominu

butterfly72 wrote: »

Where are you all putting your 24ks?

I have 15K in BoS Current accounts @ 3% and 9K of it in the Post Office @ 3.17% (moving to a Halifax Online Saver @ 2.8% on the 25th of this month, then Tesco @ 2.6% once the bonus on that finishes)

Stompa

FWIW I gave them a call to close my account this morning, and was told that closure should be done by sending them a secure message rather than by phone.

oldfella

you can close the account automatically by doing 5 withdrawals - got my interest back the same day

SallySunshine

When I tried to withdraw the total amount online it wouldn't let me.
Kept flashing up that it wouldn't leave the £1 in to keep the account open, so sent them a secure message. That was 1 hour ago.

You need to contact them before 2pm to ensure the funds are in your nominated bank that day.

Will give them a ring shortly to see what's next.

SallySunshine

Just rang and was told the secure message had been received and so matured funds would be in bank by today.

Handy that I'll know what to do for my closure next week.