ISA 1-year Fixed Rate ISA 2012-13 - when does it mature?

bruirn

Was under the impression it matured today but there's been no interest added to the account at all. Could do with taking some money out of there but don't want to risk being penalised for doing so too early.

Anyone know when I can expect to see the interest added?

edit. Forgot to mention this is a Santander ISA.

innovate

what sort of Santander ISA is it?

Did you look for the T&Cs on their website?

bruirn

innovate wrote: »

what sort of Santander ISA is it?

Did you look for the T&Cs on their website?

It's a Santander 3.50% one-year fixed rate ISA. Can't seem to find any information on last year's ISA, only this year's version.

The ISA I got was this one:
http://www.moneysupermarket.com/c/news/focus-on-santanders-three-point-five-percent-one-year-fixed-rate-ISA/0013825/

[Deleted User]

Don't you have anything in writihg about it , start date, finish date ,when interest is added etc?

bruirn

shrimper1 wrote: »

Don't you have anything in writihg about it , start date, finish date ,when interest is added etc?

I got a statement in March saying that it matured on the 1st of May. Will need to check it when I get home but could do with shifting the money out now. Was expecting the interest to have been paid this today.

bruirn

Just spoke to them and the interest will be paid tomorrow. :beer:

dreamypuma

Thanks for the update. I checked mine this morning too and was surprised to see no interest had been added.

I'll check mine tomorrow, and see what the score is. I've had too many bad experiences with Santander, so won't be happy till I see the interest on my online statement.

Twentypercent

Hi. This is my first ever post so hope I'm doing it right. I have this account and like you, am waiting for interest. On my original docs, it says interest is payable on 1 May. However, Santander's latest t & C leaflet says that interest on all ISAs is now March. If this is the case, this means I have to wait nearly two years to see any interest. Also, the interest payable (at 2% if moving to their new easy access cash ISA) from now to March will be on the original investment. So we are effectively losing out. If we had received interest on 1 May, we would be getting interest on the original investment plus the first year's interest. This is outrageous. I will be popping into Santander tomorrow to check this out. If it is the case, I will be following Martin's motto 'Ditch and switch'.

dreamypuma

Twentypercent wrote: »

Hi. This is my first ever post so hope I'm doing it right. I have this account and like you, am waiting for interest. On my original docs, it says interest is payable on 1 May. However, Santander's latest t & C leaflet says that interest on all ISAs is now March. If this is the case, this means I have to wait nearly two years to see any interest. Also, the interest payable (at 2% if moving to their new easy access cash ISA) from now to March will be on the original investment. So we are effectively losing out. If we had received interest on 1 May, we would be getting interest on the original investment plus the first year's interest. This is outrageous. I will be popping into Santander tomorrow to check this out. If it is the case, I will be following Martin's motto 'Ditch and switch'.

I'd hold fire on rushing into branch.

My interest is now showing on my account. I highly doubt that the the T&Cs you have read are applicable to your account. More so the new accounts if you choose to remain with them.

If you can find a better rate, then I personally would always ditch anyway.

opinions4u

This is outrageous

Well, it may or may not be.

I'd suggest you check the account this morning to see if the interest has been added.

If it hasn't, speak to them and ask the question.

Then consider what you originally signed up to and whether or not it has changed.

If you don't like the outcome then consider being outraged. But only when you've worked out the amount of compounded interest you've missed out on. At which point you may not consider the loss / stress ratio appropriate.

Twentypercent

Hi all,

Have checked my account this morning (despite checking it after midnight last night) and the interest is there! Yeeha. Still popping into branch to check what rate they have put me on from today. Thanks for all your comments