Leeds Building Society Regular Saver (Issue 4)

aj23_2

lisyloo wrote: »

Thanks for the info.
I agree it's rare for post to get lost, but it does happen occassionally, for example post vehicles are involved in an accident.

I can imagine it would be very stressful if your life savings were withdrawn and you didn't know where they were.

Yeah I can imagine. But if you're near a branch at any point, just go in there.

lisyloo

aj23 wrote: »

Yeah I can imagine. But if you're near a branch at any point, just go in there.

It's 2 stops on the tube (about 4 mins) and I won't even have to pay full price as together with my normal commute I'll hit the daily cap on public trannsport.
I'll let you know how I get on. Unsure if I can just turn up or whether I need an appointment, but I will call and check first (expecting a money laundering interview - seriously if I were a drug dealer would I be using high st banks??)

aj23_2

lisyloo wrote: »

It's 2 stops on the tube (about 4 mins) and I won't even have to pay full price as together with my normal commute I'll hit the daily cap on public trannsport.
I'll let you know how I get on. Unsure if I can just turn up or whether I need an appointment, but I will call and check first (expecting a money laundering interview - seriously if I were a drug dealer would I be using high st banks??)

It is an easy access account, so you can just walk in without notice and withdraw/close straight away (I presume you haven't made a withdrawal since 1 September 2017?)

lisyloo

aj23 wrote: »

It is an easy access account, so you can just walk in without notice and withdraw/close straight away (I presume you haven't made a withdrawal since 1 September 2017?)

Sorry, mine is a 2-year ISA (I think I originally only saw part of the thread title on my device).
I don't need to give notice after it matures.


Hopefully they can just close, print a cheque there and then.
I will also be doing it for my husband with a 3rd party form and ID and passbook.
It's a lot of money does that make any difference/trigger any additional checks?
ID is not an issue but he can't make it to the branch (it can take a lot of time to get across London).

aj23_2

lisyloo wrote: »

Sorry, mine is a 2-year ISA (I think I originally only saw part of the thread title on my device).
I don't need to give notice after it matures.


Hopefully they can just close, print a cheque there and then.
I will also be doing it for my husband with a 3rd party form and ID and passbook.
It's a lot of money does that make any difference/trigger any additional checks?
ID is not an issue but he can't make it to the branch (it can take a lot of time to get across London).

Oh right, I thought you were talking about the Regular Saver!!

Well yeah once the ISA matures and interest has been, you can withdraw anytime. Max. you can withdraw by cheque is usually in the tens of thousands. Banks are in the hundreds of thousands for sure. It just cash and transfers that have some restrictions.

Vortigern

lisyloo wrote: »

Sorry, mine is a 2-year ISA...

If you collect a cheque from the branch, your cash is no longer in the ISA wrapper. To preserve its tax-free status you should fill in an ISA transfer form at a new ISA provider, unless you just want to spend the cash.

I expect (but I don't know for sure) that a maturing 2-year ISA with Leeds BS would automatically transfer to a new Leeds ISA with the same account number. They should tell you your options in a maturity letter.

lisyloo

I am aware of this (but thanks anyway).
The money is going to pay off a mortgage that ends in a few months, so is no longer available as savings.

They send you a letter and if you dont do anything they will transfer it to an easy access ISA.
My mortgage rate is now 1.24% so as soon as it matures I want to pay off the mortgage as the ISA rate will reduce from 1.4% to something very small, so I plan to go in as soon as it matures and pay the cheques off my mortgage the same day.
Fortunately for me I work in a banking district so I have access to main branches.

Westie983

lisyloo wrote: »

I am aware of this (but thanks anyway).
The money is going to pay off a mortgage that ends in a few months, so is no longer available as savings.

They send you a letter and if you dont do anything they will transfer it to an easy access ISA.
My mortgage rate is now 1.24% so as soon as it matures I want to pay off the mortgage as the ISA rate will reduce from 1.4% to something very small, so I plan to go in as soon as it matures and pay the cheques off my mortgage the same day.
Fortunately for me I work in a banking district so I have access to main branches.

Do you have third party access set up at Leeds? do they offer this service for the ISA account.

You may find you will struggle to withdraw a large amount from a maturing account that is not yours, I would be very wary of this transaction, unless there was POA registered which is equivalent to the owner of the account being the one doing the withdrawal.

Third party withdrawals normally have a limit to how much can be withdrawn, have you check this with Leeds.

Westie983

lisyloo

Do you have third party access set up at Leeds? do they offer this service for the ISA account.

I spoke to leeds on the phone.
They said I can do it with a 3rd party release form, passbook and ID for both (him and me).
They are sending me the form.

Third party withdrawals normally have a limit to how much can be withdrawn, have you check this with Leeds.

She didnt mention a limit (and she knew the amounts we were talking about).

I intended to call the branch direct to check if I needed an appointment or whether I can just show up.



But basically she said I could do it with the relevant authorisation, passbooks and ID.

veryintrigued

lisyloo wrote: »

I spoke to leeds on the phone.
They said I can do it with a 3rd party release form, passbook and ID for both (him and me).
They are sending me the form.



She didnt mention a limit (and she knew the amounts we were talking about).

I intended to call the branch direct to check if I needed an appointment or whether I can just show up.



But basically she said I could do it with the relevant authorisation, passbooks and ID.

Wouldn't it be better to put all this informative in a thread that's of your specific product,?