Unable to close account / withdraw savings

ColdIron

listylister wrote: »

Thanks for your help. I have emailed their customer relations team to explain the situation, fingers crossed they are able to do something to help.

They are operating within the T&Cs that you agreed to, remember they bind both sides. Some accounts will allow access in cases of hardship but a new boiler is unlikely to be accepted. You might throw yourself on their better nature and explain that you didn't read the (prominently displayed) account information and ask for the deposit to be returned without interest. To ask for the higher rate offered in return for restricted access would be entirely unreasonable. They can only say no and it might increase your chances

EEproblems

Did you get this over turned? I'm asking as I am in the same situation, my house deposit is now locked in my savings account

Reckless_Saving

Wasn't over-turned, the terms were clear, limited access in return for a slight better interest rate.

EEproblems wrote: »

Did you get this over turned? I'm asking as I am in the same situation, my house deposit is now locked in my savings account

Thrugelmir

Is there a penalty clause for early closure?

Westie983

Thrugelmir wrote: »

Is there a penalty clause for early closure?

Not if using one of the two free withdrawals a year otherwise your "penalty" is not having another withdrawal till year end.

Westie983

Tom99

[FONT=Verdana, sans-serif]I had one of these accounts Issue 4 paying 1.29% pa and I had made one withdrawal already.[/FONT]
[FONT=Verdana, sans-serif]They now have Issue 8 paying 1.42% so I opened an Issue 8 and funded it by closing the Issue 4 (the 2nd withdrawal).[/FONT]
[FONT=Verdana, sans-serif]I am now back to the two allowed withdrawals.[/FONT]