M&S 4% 3 Year FRISA Maturing

Stompa

The T&C's for this ISA state:

(i) We will send you notice of maturity at least 14 days prior to the Maturity Date of each Fixed Rate Bond held.

(ii) The notice in (i) above will outline the options open to you in respect of the Fixed Rate Bond approaching maturity. This may include the option to transfer to any new Fixed Rate Bond we make available at that time, or the Variable Rate Savings Option of the Account.

Well I have 14 days to go and have heard nothing from them, has anybody else? Not that I'm expecting any brilliant offers!

10_66

Mine's not due to mature until April, so I'm starting to pay attention to the ISAs that are on offer now. I hate the ISA (un)merry-go-round!

innovate

As long as your ISA doesn't go into another fixed term w/o your approval, your options are open.

Of course, you should by now have had the promised notice. There are all sorts of possible reasons why you didn't - starting with them not sending it, it getting lost in the Christmas post, your dog ate it etc.... You will probably never know.

Stompa

innovate wrote: »

Of course, you should by now have had the promised notice. There are all sorts of possible reasons why you didn't - starting with them not sending it, it getting lost in the Christmas post, your dog ate it etc.... You will probably never know.

Indeed. I could of course phone them, but I've heard they can take a very long time to answer!

I doubt they're offering anything other than the currently available products on their website anyway. Looks like it may have to be transferred into a S&S ISA.

innovate

I agree, it is highly unlikely they would make you a special offer - didn't even occur to me they would do a special for existing account holders. But you never know - - is there any messaging system you could use, to beat their phone delays?

Vortigern

Mine matured around Christmas and M&S wrote to me sometime in December. (Their letter was undated - how unprofessional is that?)

The options were to roll over into a 1,2 or 3 year fix at the currently advertised rates; transfer to their Advantage Cash ISA (variable rate, easy access), or withdraw.

The default, if you don't reply, is the variable rate easy access option.

Add: I've heard rumours of their poor service in answering phones, but if Stompa wants to try phoning, the number on the letter is 0808 001 1111, manned 8am-8pm Mon-Fri and 9am-5pm Saturday. This should be free from a landline.

Stompa

innovate wrote: »

I agree, it is highly unlikely they would make you a special offer - didn't even occur to me they would do a special for existing account holders. But you never know - - is there any messaging system you could use, to beat their phone delays?

I don't know, but I've just realised that mine doesn't mature on the 23rd as I'd thought, but the 28th, so I guess they still have a few days left.

I'll probably let it transfer to their Advantage Cash ISA (2.75%), and then transfer out before the rate drops on 6th March.

innovate

Vortigern wrote: »

Their letter was undated - how unprofessional is that?

Bo-ah, how much more unprofessional can they get? Not answering phones, sending undated letters?!? Really bad.

But at least you got a letter......

Only thing I have from M&S so far are knickers....but I have applied for their "Everyday Savings Account" on Jan 2, just in case I will be desperate for a 2.35% instant access account sometime soon. Still waiting for the application pack which was promised within 7 days, so it should arrive very soon.

Vortigern

innovate wrote: »

But at least you got a letter......

I've had 2 more since then. One was dated Christmas Day!

SallySunshine

I've also the same ISA maturing in april, I do hope rates have picked up by then.

I applied for their Everyday Savings Account at the beginning of December

I seem to have been lucky in that in order to set up the account I had to ring up, got through quite quickly and had to give a linked account so I can withdraw my money, then chose a security no.

Very straightforward and very pleasant assistant.

Still waiting for the P.O. though , sent off both applications at the same time!

savetilibleed

Early April for my M&S 3yr FRISA. Goodness three years ago we might have half expected to see better rates, not worse