Bond with C&G

zaksmum

I have a bond with Cheltenham and Gloucester due to mature on April 2nd. I have a letter from them showing that date.

Today I got a cheque off them for the total of funds in the account saying as the bond had now matured they had closed it and were returning my money to me.

I will go and see them tomorrow - does it look like a simple mistake?

Ifts

Go see them tomorrow and see what they say, it could well be a simple mistake....

meatandtwoveg

zaksmum wrote: »

I have a bond with Cheltenham and Gloucester due to mature on April 2nd. I have a letter from them showing that date.

Today I got a cheque off them for the total of funds in the account saying as the bond had now matured they had closed it and were returning my money to me.

I will go and see them tomorrow - does it look like a simple mistake?

Could you let us all know what happened?

I have one maturing in October, just do not want any hiccups...

PeacefulWaters

There are no C&G branches and I don't think TSB deal with the fixed rate accounts.

You might be better ringing them.

Does the maturity amount match the sum you were expecting? If so, what's the problem?

Did you open the account on 2nd April? They usually used a fixed maturity date, not an anniversary of account opening.

ProudDad

Hi

This is completely correct the old C&G bonds have been retained by Lloyd's bank as part of the LTSB split. Part of the agreement means they can't offer you any sort of reinvestment option as these accounts need to be closed on maturity so they are just issuing a cheque for the balance plus all interest owed up to maturity. Cheques can arrive from anything up to a month before maturity until about a week or two after.

Hope this helps

C

meatandtwoveg

ProudDad wrote: »

Hi

This is completely correct the old C&G bonds have been retained by Lloyd's bank as part of the LTSB split. Part of the agreement means they can't offer you any sort of reinvestment option as these accounts need to be closed on maturity so they are just issuing a cheque for the balance plus all interest owed up to maturity. Cheques can arrive from anything up to a month before maturity until about a week or two after.

Hope this helps

C

Really, well for one, i am currently overseas, and not arriving back in the UK until December this year and so they have no address for me as i am travelling around. I have no family in the UK, so i will need to get in touch at least a month before maturity i guess. I have a written agreement with C&G prior to opening the bond that they would CHAPS the balance back to my current account where the funds originated. I had to get this down on paper just in case i had no UK address at the time of maturity of the bond. So they cannot issue me with a cheque, but thanks for the heads up..

meatandtwoveg

Anyone recieved closure cheques recently.....

meatandtwoveg

Any recent experiences, there must be a few bonds maturing in the coming weeks or months?

meatandtwoveg

Been advised today by the C&G team that they are closing these accounts a month or so early, is this the case?

Reaper

meatandtwoveg wrote: »

Been advised today by the C&G team that they are closing these accounts a month or so early, is this the case?

Post 5 says it is

ProudDad wrote: »

Cheques can arrive from anything up to a month before maturity until about a week or two after.