First Direct Regular Saver Maturing

tsb

My First Direct Regular Saver matures on 6th March, I've had the letter from First Direct confirming that date last week and that the balance plus interest would either convert to a savings account or transfer into an existing savings account if one was open.  
I've logged on to my accounts today and the Regular saver isn't showing at all and the balance isn't in another savings account either.  
It is a bit shocking to log in and find £3600 not showing anywhere on my accounts, is this normal for First Direct?

simongregson

It's normal, it will appear in a savings account in a day or so.

tsb

simongregson said:

It's normal, it will appear in a savings account in a day or so.

Thanks, I was just about to call them.  I've had other regular savers with other banks and never known the balance to 'disappear' like this. I really don't like the First Direct online banking layout anyway, I like it even less now!

Tildaplum

They transfer it to a new instant access account it takes a day for it to appear!

yorkshireOAP

When it happened to me, in Jan I rung up and theyt transferred immediately.

PRAISETHESUN

If you'd read the letter they sent you, you'd know this is normal. As the account matures it becomes inaccessible through internet banking for a few days whilst it is being moved to a savings account. The money can still be accessed by contacting them on the phone if you need it in a hurry.

tsb

PRAISETHESUN said:

If you'd read the letter they sent you, you'd know this is normal. As the account matures it becomes inaccessible through internet banking for a few days whilst it is being moved to a savings account. The money can still be accessed by contacting them on the phone if you need it in a hurry.

I read the letter, more than once actually, but never realised until now that the first sheet of the letter has something typed on the reverse and that is where it tells you about the money not showing.  So my apologies.  

Still a silly way of doing it in my opinion.

Wheres_My_Cashback

Yep, it is an odd way, however if you want your funds on maturity day just call them and ask them to transfer it to your FD current a/c which they will always do whilst your on the line. Then you can transfer the money out to wherever you want.

Tildaplum

definately a lack of /pto in letters these days....

Missus_Hyde

tsb said:

PRAISETHESUN said:

If you'd read the letter they sent you, you'd know this is normal. As the account matures it becomes inaccessible through internet banking for a few days whilst it is being moved to a savings account. The money can still be accessed by contacting them on the phone if you need it in a hurry.

I read the letter, more than once actually, but never realised until now that the first sheet of the letter has something typed on the reverse and that is where it tells you about the money not showing.  So my apologies.  

Still a silly way of doing it in my opinion.

I agree with you totally; we've had two Regular Savers maturing in the last two months and I can't understand why they have to make such a production of it; I've not found this with any other bank and I fail to see why it takes them over a week before the money can be transferred to another account and another RS opened.

I rang them last month for my husband and made the obligatory fuss necessary to get anything done these days, but quite frankly I can't be bothered to be constantly chasing them to do the simplest thing, so I suppose I shall just have to wait until they get around to sorting my account out.

soulsaver

@Missus_Hyde
You don't have to wait a week to open another reg saver, you can open one immediately your old has matured ('disappeared').