Cheques for Portman members

LittleVoice

Anyone know when merger cheques are likely to be posted out, given that they have 28 days from 28th August to actually send them?

hm71_2

Hi, i'm waiting for this also, The only thing they will say is they will start to be posted out on the 28th, so I feel its just a case of wait & see. Mines only little anyway:A

Misstique

Does anyone know if they will include the balance remaining in your account in the merger cheque or will they automatically transfer the amount in the account to Nationwide?

MagsyB

I thought that they are transferring the balances to Nationwide and I think :rolleyes: that I read that you then become an automatic member of Nationwide and have the same benefits *if* they decide to demutualise

I'm only waiting for a little cheque too but I'm so glad I didn't throw the account in when they were giving <1% interest for years!

HTH
MagsyB

bristolleedsfan

Misstique wrote: »

Does anyone know if they will include the balance remaining in your account in the merger cheque or will they automatically transfer the amount in the account to Nationwide?

merger cheques are being posted during 3rd week of september, dont be suprised if they are posted second class.

the longer nationwide hold onto the merger payments the more interest it keeps, their was a booklet in portman branch few weeks ago stating intent to post out as above.

cheques will be prepared forward dated and enveloped and held till 3rd week in september.

ex portman accounts will become closed issue nationwide accounts, will be up to savers to make decisions regarding their accounts.

Darth_Calculus

Does anyone know if the closed issue accounts will retain the existing T+Cs, or if they will revert to equivilent Nationwide accounts?

I have a 90 day notice account. Once I get the Portman cheque, I will be re-evaluating whether to keep the money with the NAtionwide, or move it to a better paying account.

Will I have to still give 90 days notice, or could I move the money from the closed 90 day Portman account, to an instant access Nationwide account, and then be free to withdraw money straightaway?

I guess this will affect a lot of people who have been watching Portman accounts becoming less competitive since the merger announcement, waiting for the cheque, before moving the money to somewhere better.

Indeed, to combat this, I would expect Nationwide to offer a decent savings account to entice the existing Portman members to stay put, but so far, I dont think they have anything that great.

DC

bristolleedsfan

Darth_Calculus wrote: »

Does anyone know if the closed issue accounts will retain the existing T+Cs, or if they will revert to equivilent Nationwide accounts?

I have a 90 day notice account. Once I get the Portman cheque, I will be re-evaluating whether to keep the money with the NAtionwide, or move it to a better paying account.

Will I have to still give 90 days notice, or could I move the money from the closed 90 day Portman account, to an instant access Nationwide account, and then be free to withdraw money straightaway?

I guess this will affect a lot of people who have been watching Portman accounts becoming less competitive since the merger announcement, waiting for the cheque, before moving the money to somewhere better.

Indeed, to combat this, I would expect Nationwide to offer a decent savings account to entice the existing Portman members to stay put, but so far, I dont think they have anything that great.

DC

those with portman notice accounts and/or isas that attract a fee for transferring out have a period of either 30/60 days ( from memory its the latter) when they can move their money out penalty/fee free either to a nationwide account or to a provider outside of nationwide BS.

i didnt believe portman accounts were competitive "before" the merger announcement. :rolleyes:

nationwide believe that they do offer excellent savings rates. :rolleyes:

marrow

does anyone know if i can open a portman account on the 28th august to qualify for windfall

debbie42

marrow wrote: »

does anyone know if i can open a portman account on the 28th august to qualify for windfall

Do you mean open an account next week? If it was that easy then everyone would be doing it!

The short answer is no, you wouldn't qualify.

marrow

thanks for your reply.
marrow

debbie42

There is a thread here discussing (I think) a way to perhaps become eligible for any future NW windfall. I haven't read it properly as am already a longtime Portman member.