portman bs

wishiknew

just wanted to know how long you have to hold for payment or can you close a/c before the payout
thanks

DawnW

Whether you get a payment depends from what I can see on your having money in the account between last September and when the merger actually goes ahead (August or Sept this year I think). So best to leave it there I think. That is my understanding, and my rather underwhelming account is staying as it is till then.

LittleVoice

Definitely don't close.

If you hold over £100 but below the point of getting more than the £200 minimum, you could withdraw the sum above £100 without affecting your pay-out.

plumb1_2

wishiknew wrote: »

just wanted to know how long you have to hold for payment or can you close a/c before the payout
thanks

Deal should be complete on 28/8/07 , so you will get your payout in early September. Remember to leave £100 min in your account until then.

sallysaver

I realise that ISA's are tax free, therefore there is no requirement to complete the R85 form, BUT if you hold an ISA with the Portman and are a NON taxpayer, you still need to complete Form R85 otherwise they will deduct tax from your merger bonus. I learnt this to my cost when Lambeth was taken over. Its hard work getting tax back from the taxman, - sally

Dhani_2

I've got around £105 in a Portman Account untouched since January 2000. Would I get the minimum windfall - does anyone know? It would be lovely if I did.

Thanks

LittleVoice

You should have received letters from Portman and had voting papers. Did you not receive these? Do they have your current address?

If they have your current address but you didn't receive any letter or voting papers then it may be you had a deposit account rather than a share account. Deposit accounts don't have voting rights so there would be no windfall for holders of those accounts if they did not also have a share account with at least the minimum £100.

Dhani_2

Thank you LittleVoice, for the clarification. I did recieve voting papers, so I hopefully should get a little windfall!!!