Help To Save bonus payout?

Quincifer

Hi, I just wondered if anyone had received their first bonus payout from their Help To Save account? If so, how long did it take to hit your account?
My first 2yr block was on 1st September. On the HMRC app the bonus amount has disappeared from the top but as yet I’ve not received a payment into my bank account....

spennysafc

Hi Quincifer, the bonus is usually paid into your nominated bank account on the 6th working day of the month. Enjoy.

Itsonlymillymoo

Hi, I have the help to save account and have been paying in £50 each month with the first bonus due in January. If I withdraw the total saved after the bonus is paid and then carry on paying in £50 for the next 2 years how much will the second bonus be? TIA 😊

NedS

Itsonlymillymoo said:

Hi, I have the help to save account and have been paying in £50 each month with the first bonus due in January. If I withdraw the total saved after the bonus is paid and then carry on paying in £50 for the next 2 years how much will the second bonus be? TIA 😊

The second bonus is 50% of the highest balance over and above the highest balance achieved within the first 2 years.

If you achieved the maximum deposit during the first two years (£1200) and withdrew the lot, you would not be able to achieve a bonus payment for years 3-4 as your balance would never exceed £1200.

Answer: £0 bonus

Dandytf

Itsonlymillymoo said:

Hi, I have the help to save account and have been paying in £50 each month with the first bonus due in January. If I withdraw the total saved after the bonus is paid and then carry on paying in £50 for the next 2 years how much will the second bonus be? TIA 😊

Help2save closes if total amount saved is withdrawn 100% at any time.

The most you can pay into your account each calendar month is £50, which is £2,400 over 4 years. The most you can earn from your savings in 4 years is £1,200 in bonus money

buckbeak1

Hi, I put my cash builder account number  as a way to get paid on the help to save scheme. My bonus money is due today, it’s disappeared in the bonus part on the app but it isn’t in my bank! My question is..... can I use a nationwide cash builder card? I’m worried I’ve put the sort code and account number but not sure if it accepts benefits as I know it definitely doesn’t accept child benefit! 

Please help, thanks in advance