The Newcastle Big Home Saver ISA

Chjaka

Chjaka wrote: »

Just noticed this thread. I opened and funded the account with the full £1250 on the 11th April and set up a standing order to fund the full £1250 on the 1st of each month. So far the payment for May has been accepted and is showing in the account.

I'm in two minds whether it's worth splitting the next couple of payments or not so I don't risk losing my last month of interest?

Either way I'll update after the 12th with what interest has been paid on the £2500 balance.

Updating as promised; Interest paid correctly on both deposits.

amiehall

amiehall wrote: »

I opened this account with an initial £1 investment, but I've just received my paperwork and it's all noting two £1 payments made into the account on the same day.

While I'm not complaining about some free money, it just seems very odd. I only have 1 payment removed from my bank account. Has this happened to anyone else?

An update on this. I just signed into my account tonight to check my interest and see that this £1 was withdrawn from my account earlier in the month without any explanation of where it came from or where it's gone. That isn't really the big issue.

The cheek of it is that they've not awarded my bonus interest for the month, presumably because a "withdrawal" has been made. Guess I'll be ringing them in the morning...

Ed-1

What's the sort code to send a faster payment to the Big Home Saver?

I've also just noticed that they've now launched a second issue of this account (both ISA and non-ISA) at a lower rate of 2.4% (inc. bonus) http://www.newcastle.co.uk/savings/big-home-saver.aspx

Archi_Bald

I used 23-59-54 00000008, and my account number in the payment reference. But I have the non-ISA version - not sure they use the same data for ISA.

As to the rate drop - - this must be in preparation to the oft expected special NISA rates, lol.............

Snowbelle

Ed-1 wrote: »

What's the sort code to send a faster payment to the Big Home Saver?

I've also just noticed that they've now launched a second issue of this account (both ISA and non-ISA) at a lower rate of 2.4% (inc. bonus) http://www.newcastle.co.uk/savings/big-home-saver.aspx

Interesting - wonder why they didnt just reduce the rate?

Ed-1

Snowbelle wrote: »

Interesting - wonder why they didnt just reduce the rate?

I'd say reducing the rate of an account that has since very recently been open to new customers is generally frowned upon and they probably wanted to avoid a mass exodus and several disgruntled customers (they've probably met their target for attracting new money from savers and so the way to avoid new money coming in without losing the money already attracted is to close the issue to new customers and launch a new issue).

Gromitt

Archi_Bald wrote: »

I used 23-59-54 00000008, and my account number in the payment reference. But I have the non-ISA version - not sure they use the same data for ISA.

I have the same sort code and account number for all 3 of my Newcastle accounts, so I assume those stay the same.

Ed-1

Archi_Bald wrote: »

I used 23-59-54 00000008, and my account number in the payment reference. But I have the non-ISA version - not sure they use the same data for ISA.

As to the rate drop - - this must be in preparation to the oft expected special NISA rates, lol.............

How long does it normally take for a faster payment to be credited to your account at Newcastle BS?

10_66

Ed-1 wrote: »

How long does it normally take for a faster payment to be credited to your account at Newcastle BS?

Mine showed the same day, but not immediately (ie most Faster Payments show within moments). I did mine early morning.

Snowbelle

Ed-1 wrote: »

How long does it normally take for a faster payment to be credited to your account at Newcastle BS?

I've had between a few hours to overnight.