Notice Accounts - additional deposits

Huggy_Bear

Quick question which I cant find in T&Cs, with a notice account like Shawbrook Bank 120 day a/c after your initial deposit can you continue to make desposits. I have an initial sum to add now and hopefully (everything crossed) I can sell sum shares later and then will want to make a further deposit. Do these types of accounts allow that? I know with fixed term accounts you only have a certain window when you open the account.

Many thanks

bowlhead99

Notice accounts don't have a fixed term with one deposit and one withdrawal, the whole point is that the term is not fixed but they can afford to pay you better interest than an easy access account because you'll pay them a penalty if you withdraw without giving the proper notice. If the account is generally still available to new customers and the T&C's don't prohibit further deposits you will be fine to keep using it.

Huggy_Bear

bowlhead99 said:

Notice accounts don't have a fixed term with one deposit and one withdrawal, the whole point is that the term is not fixed but they can afford to pay you better interest than an easy access account because you'll pay them a penalty if you withdraw without giving the proper notice. If the account is generally still available to new customers and the T&C's don't prohibit further deposits you will be fine to keep using it.

Thank you