Nottingham Building Society

matttye

liamcov wrote: »

How easy is it to open the Summer Saver in branch as it mentions a "friendly chat" on here, does this mean an appointment or can I just turn up and do it in 15 mins?

An appointment. Very pleasant staff.

Offered me a cuppa, saw me 20 mins early, took about 15/20 mins. Would've been quicker but the lady I saw said that rather than keep me waiting, she'd see me early but might have to get up to serve customers every so often, which I was fine with.

117pauline

You can't open one of their accounts without an appointment unless you are very very lucky.

When I went in to open the Summer Savings account, it took over 45mins and I had had to make an appointment to do it. The "adviser" goes through all sorts of scenarios.

liamcov

OK thanks will have to book one then, can you open this and the other Reg Saver at the same time, I think that is 3%

matttye

117pauline wrote: »

You can't open one of their accounts without an appointment unless you are very very lucky.

When I went in to open the Summer Savings account, it took over 45mins and I had had to make an appointment to do it. The "adviser" goes through all sorts of scenarios.

I didn't have that; I just made it clear I knew what I wanted and wasn't interested in other products at this time.

liamcov wrote: »

OK thanks will have to book one then, can you open this and the other Reg Saver at the same time, I think that is 3%

You can open both at the same time (I did). The Summer saver is 5% and the Reg Saver ISA is 4%.

liamcov

matttye wrote: »

You can open both at the same time (I did). The Summer saver is 5% and the Reg Saver ISA is 4%.

Thanks. I know the SS expires in Oct 2014 but no mention of the RS is this a standard 12 months or does it continue?

Also, when they do expire/close them, do they transfer the funds to a bank account or give you a cheque?

matttye

liamcov wrote: »

Thanks. I know the SS expires in Oct 2014 but no mention of the RS is this a standard 12 months or does it continue?

Also, when they do expire/close them, do they transfer the funds to a bank account or give you a cheque?

The ISA is like any other ISA - you can deposit this year's allowance into it until April 2014 and get tax-free interest. After that the interest rate drops but the account will remain open.

Bear in mind no withdrawals are allowed from either account until they mature - so make sure you don't need to touch your savings for a year.

Ed-1

liamcov wrote: »

Thanks. I know the SS expires in Oct 2014 but no mention of the RS is this a standard 12 months or does it continue?

Also, when they do expire/close them, do they transfer the funds to a bank account or give you a cheque?

I've just opened the 3 Nottingham regular saver accounts today as well.

The normal Regular Saver at 3.1% (including 3% bonus) is ongoing and the rate is variable with a 3% bonus being paid on top of a basic rate of 0.1% every 30th September providing 11 monthly deposits have been made and no more than 2 withdrawals have been made. You can contribute up to £250 per calendar month.

The Starter ISA Issue 3 at 4% (fixed) matures on 5th April 2014 and you can contribute up to £480 per month with a chance in March 2014 to top up the balance to the 2013/14 limit of £5760. The account changes to a variable rate instant access ISA on maturity.

The Summer Saver at 5% (fixed) unlike the normal regular saver matures on 30th September 2014. Interest is added on 30th September this year and next. There is no bonus on this account and you can miss as many monthly deposits as you want (although obviously it's better not to). As with the 3.1% regular saver, you can contribute up to £250 per month. On maturity this account changes to a variable rate instant access account.

Pretty good accounts in the current climate. The Nottingham do seem to come up with decent rates every now and then but with limitations on the amount you can feed into them (they had a 6% Celebration Saver account a year ago but you could only put £100 per month into it).

Hope this post is useful!

Ed-1

brewerdave wrote: »

...just for info, they DO have an internet banking set up - I have access to my E Bond via a log in -or at least I can see the money even if I can't do anything with it !!:rotfl:
Currently they have an Esaver available...but it only pays up to 1% gross...and you have to give 20 days notice of withdrawal ...rather defeats the object of an internet account doesn't it.:rotfl:

Do you know whether, if you open an online account, you can see other accounts online as well or just the online one? I'd assume you'd just be able to see the online account as I asked in a branch today and there is no facility to view balances online with the (branch-based) regular saver accounts, or have any online access whatsoever with these accounts.

liamcov

Ed-1 wrote: »

I've just opened the 3 Nottingham regular saver accounts today as well.

The normal Regular Saver at 3.1% (including 3% bonus) is ongoing and the rate is variable with a 3% bonus being paid on top of a basic rate of 0.1% every 30th September providing 11 monthly deposits have been made and no more than 2 withdrawals have been made. You can contribute up to £250 per calendar month.

The Starter ISA Issue 3 at 4% (fixed) matures on 5th April 2014 and you can contribute up to £480 per month with a chance in March 2014 to top up the balance to the 2013/14 limit of £5760. The account changes to a variable rate instant access ISA on maturity.

The Summer Saver at 5% (fixed) unlike the normal regular saver matures on 30th September 2014. Interest is added on 30th September this year and next. There is no bonus on this account and you can miss as many monthly deposits as you want (although obviously it's better not to). As with the 3.1% regular saver, you can contribute up to £250 per month. On maturity this account changes to a variable rate instant access account.

Pretty good accounts in the current climate. The Nottingham do seem to come up with decent rates every now and then but with limitations on the amount you can feed into them (they had a 6% Celebration Saver account a year ago but you could only put £100 per month into it).

Hope this post is useful!

Thanks that's very helpful. When it does expire / you want to close it, do you have to go to the branch and draw the money out or can they transfer it to a bank account?

matttye

liamcov wrote: »

Thanks that's very helpful. When it does expire / you want to close it, do you have to go to the branch and draw the money out or can they transfer it to a bank account?

You have to go into the branch I think. It says you can't make withdrawals by direct debit / standing order.

You can withdraw up to £250 in cash or any amount with a cheque.