The Top Fixed Interest Savings Discussion Area

ColdIron

You need to transfer the funds before 16:59 on the 27th Oct (or sooner if withdrawn), i.e. at the time of applying. It will be pending until 31st Oct

mrbuster

Hi
Opened a Gatehouse 5 year bond yesterday and received automated email stating 14 days to fund.
Terms and conditions on  website says 30 days to fund 
any thoughts

metrobus

I am probably missing something,but why can’t we get these fixes direct through our Charter bank accounts?

alternate

metrobus said:

I am probably missing something,but why can’t we get these fixes direct through our Charter bank accounts?

Likely they have done a deal.  HL will prob take a small loss (as apposed to the small cut they usually take) on each account to promote their marketplace.

Krakkkers

So is this why Charter have no products on their own website now as I am about to withdraw money and move it elsewhere.

P933alilli

mrbuster said:

Hi
Opened a Gatehouse 5 year bond yesterday and received automated email stating 14 days to fund.
Terms and conditions on  website says 30 days to fund 
any thoughts

Hi, 

   i applied for the same yesterday , 5.1% for 5 yrs, and got a similar e mail.  


''As a reminder, we will apply the profit rate that was shown on our website when you applied for your account (or a higher rate if we have increased it), provided that you send us your deposit amount by bank transfer or by cheque within 14 days of making your application.

Please be aware that if we have not received your deposit amount as cleared funds within 45 days of making your application, the account will not be opened and you will need to re-apply.''

Very confusing! Is it 14 days, 30 or 45?

I have sent them an e mail to try and clear it up but i got an automated reply saying that it could take four days for them to respond to it!

t1redmonkey

The Gatehouse wording is a bit confusing, I emailed them last week about it as well but haven't had a reply yet.

My interpretation is:

- 14 days to guarantee getting the rate you applied for, maybe if depositing after 14 days then it might be a lower rate if that's what they've replaced it with
- 30 days to actually receive all the funds you want to deposit before the window closes
- If sending a cheque, then it needs to clear within 45 days of applying

Just my guess, not certain.

Ted_01

To avoid having to make one single large transfer to a new fixed rate account it was suggested here to also open a regular easy-access savings account with the same provider and then gradually transfer money to the savings accout and then do one big internal transfer to the new fix rate account. Has anyone actually done this, does it work with Tesco?

I've just opened a 3 year fix at 4.87% with Tesco, and I'm thinking of opening a savings account too to avoid the "one deposit only" difficulty. Tesco rules:

"You can only make one deposit and this must be received within the first 30 days of opening"

Why do they add this annoyance

edit - regular meaning 'easy access', corrected above.

P933alilli

t1redmonkey said:

The Gatehouse wording is a bit confusing, I emailed them last week about it as well but haven't had a reply yet.

My interpretation is:

- 14 days to guarantee getting the rate you applied for, maybe if depositing after 14 days then it might be a lower rate if that's what they've replaced it with
- 30 days to actually receive all the funds you want to deposit before the window closes
- If sending a cheque, then it needs to clear within 45 days of applying

Just my guess, not certain.

Yes, thanks, very possible its probably something along those lines!

cricidmuslibale

Ted_01 said:

To avoid having to make one single large transfer to a new fixed rate account it was suggested here to also open a regular savings account with the same provider and then gradually transfer money to the savings accout and then do one big internal transfer to the new fix rate account. Has anyone actually done this, does it work with Tesco?

I've just opened a 3 year fix at 4.87% with Tesco, and I'm thinking of opening a savings account too to avoid the "one deposit only" difficulty. Tesco rules:

"You can only make one deposit and this must be received within the first 30 days of opening"

Why do they add this annoyance

When you use the term “regular savings account” above, I presume that you’re referring to an easy access savings account rather than a regular saver, which the savings provider in question may not provide in the first place and, even if they do, is very unlikely to be suitable for the process that you’re describing above!