Help To Save bonus payout?

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....

Comments

  • Hi Quincifer, the bonus is usually paid into your nominated bank account on the 6th working day of the month. Enjoy.
  • 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
    NedS Posts: 4,366 Forumite
    Fifth Anniversary 1,000 Posts Photogenic Name Dropper
    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
    Dandytf Posts: 5,073 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 6 September 2020 at 7:25PM
    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    Help2save closes if total amount saved is withdrawn 100% at any time.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
    Replenished CRA Reports.2020 Nissan Leaf 128-149 miles top charge. Savings depleted. VM Stream tv M250 Volted to M350 then M500 since returned to 1gb
  • buckbeak1
    buckbeak1 Posts: 11 Forumite
    First Post
    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 
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