Clydesdale 40 Day Notice ISA 2% (£24k+)

VT82

There doesn't seem to have been too much discussion of this product Clydesdale-cash-isa-40-day-notice, even though it's a best buy in the ISA guide. I haven't withdrawn out of an ISA in about 7 years, so the notice period wouldn't put me off - who withdraws from an ISA anyway? If I was to withdraw, it would be for a house deposit, so 40 days would be sufficient.

Seems like a good home for my matured NCBS 3 yr FRISA, my Santander E-ISA 1.7%, and my soon to be matured NW 2.59% reg saver ISA.

Any idea how long it's been out for, how likely it is to be pulled soon, or what Clysedale's previous form is on cutting rates?

Thanks!

TCA

There's a thread on it here below. You might also want to find and read some other non-complimentary threads about Clydesdale Bank's operations:

https://forums.moneysavingexpert.com/discussion/5046554

According to their website, the rate was last changed on 1st December 2013, so it's been around since at least then.

jimjames

VT82 wrote: »

There doesn't seem to have been too much discussion of this product Clydesdale-cash-isa-40-day-notice, even though it's a best buy in the ISA guide. I haven't withdrawn out of an ISA in about 7 years, so the notice period wouldn't put me off - who withdraws from an ISA anyway? If I was to withdraw, it would be for a house deposit, so 40 days would be sufficient.

Seems like a good home for my matured NCBS 3 yr FRISA, my Santander E-ISA 1.7%, and my soon to be matured NW 2.59% reg saver ISA.

Any idea how long it's been out for, how likely it is to be pulled soon, or what Clysedale's previous form is on cutting rates?

Thanks!

If you're not withdrawing from an ISA at all or for at least 7 years then have you looked at S&S ISAs instead of cash?

VT82

jimjames wrote: »

If you're not withdrawing from an ISA at all or for at least 7 years then have you looked at S&S ISAs instead of cash?

I wish I had done a few years ago! But for the last 5 years (i.e. when I've been building up my savings), I've been thinking I was on the verge of buying a house. Now I definitely am, as we've got a baby on the way, so I'll stick to cash until I've bought my house and know how much my life is going to cost me on a monthly basis lol.

TCA wrote: »

There's a thread on it here below. You might also want to find and read some other non-complimentary threads about Clydesdale Bank's operations.

Thanks for the info, I had looked for it, but obviously not hard enough. Don't really like the sound of the problems people have had opening it, and also having no visibility of the account once it's opened.

TCA wrote: »

According to their website, the rate was last changed on 1st December 2013, so it's been around since at least then.

Great. It looks very much primed for a rate cut any time now then! I might just pass and hope Santander will do 1.50%+ again.

Cheers.

TCA

VT82 wrote: »

Thanks for the info, I had looked for it, but obviously not hard enough. Don't really like the sound of the problems people have had opening it, and also having no visibility of the account once it's opened.

I have a 5 year fixed rate cash ISA maturing with them at the end of this month and "for ease" am transferring it into this 40-day notice account. I ticked a box on the form and supplied a mobile number for them to confirm receipt of my maturity instructions. No text message received yet and that was about a fortnight ago....

Regarding visibility of a postal account like this, I'm pretty sure I didn't even get annual statements on the 5 year fix. At best I received a couple.

stewie1098

Don't Yorkshire BS do something very similar- my dealings with them (few years ago mind) were positive-what do people think?

TCA

stewie1098 wrote: »

Don't Yorkshire BS do something very similar- my dealings with them (few years ago mind) were positive-what do people think?

Yorkshire Bank and Clydesdale Bank are part of the same group, owned by National Australia Bank, so offer many of the same products under both brands. Yorkshire Building Society is unrelated and part of different group altogether.

gwapenut

Can you have a 40-day notice iSA (for transfers, ie multiple allowed) with both YB and CB ?

MARTYM8`

gwapenut wrote: »

Can you have a 40-day notice iSA (for transfers, ie multiple allowed) with both YB and CB ?

In theory yes - but why would you want more than one when they are part of the same £85k FSCS protection limit as they are in the same banking group.

Why have the bother of managing two ISA accounts with them when there is no advantage. Also you need £24k invested in the account to get the 2% - below that and the rate is much lower.

gwapenut

Because if I need to withdraw without notice, I lose interest on the whole balance

gwapenut

^ Something I learnt to be prepared for thanks to our friends at DotComunity. Just because I have stooze cards covered with ISAa maturing at other institutions, doesn't mean I'll be able to get at the maturing money!