Shawbrook 6 month fixed 2%

Sea_Shell

CheekyMikey said:

How long did it take to hear from them once you applied? I applied yesterday and haven’t even received an email acknowledging my application. I read that some people are sending £1 test payments but my application stated a £1000 min deposit?

My confirmation emails were almost instant.

I logged on to get the account number, and sent £1, which was confirmed receipt end of next working day.

I've now sent "the rest" which is in excess of the £1000 I'd stated at application (as I thought that was just to confirm that you would be depositing at least the minimum amount)

Hopefully I'll receive confirmation of receipt of that later today.

Thumbs_Up

I should get my first monthly interest payment £140 on the 6th June. Feels very liberating especially when I read about Chase bank this, and Chase bank that.

 

CheekyMikey

Sea_Shell said:

CheekyMikey said:

How long did it take to hear from them once you applied? I applied yesterday and haven’t even received an email acknowledging my application. I read that some people are sending £1 test payments but my application stated a £1000 min deposit?

My confirmation emails were almost instant.

I logged on to get the account number, and sent £1, which was confirmed receipt end of next working day.

I've now sent "the rest" which is in excess of the £1000 I'd stated at application (as I thought that was just to confirm that you would be depositing at least the minimum amount)

Hopefully I'll receive confirmation of receipt of that later today.

Sod’s law, just received confirmation email, they apologised for delay but they’re getting a lot of requests. Test payment sent.

Thumbs_Up

CheekyMikey said:

 £1 test payments but my application stated a £1000 min deposit?

I guess they only pay you interest once you have at least £1000 in the account. Just pay in your £1 first.

Sea_Shell

We are currently on Issue 2 of this product.

I've just had a look at their "withdrawn products" page, and FYI, Issue 1 was available from 17/3/22 to 5/5/22.   You have to scroll down to p.33 of the document to find it!

So that gives us a hint as to how long they might keep Issue 2 open, and be able to be added to.

refluxer

Shawbrook's 6 month Fixed Rate Bond - Issue 2 @ 2% has been withdrawn today so if you opened one of these and are wanting to add any more funds, you now have 7 working days to do this according to the T&Cs.

"Please note that the Bank reserves the right to withdraw this product at any time. If the product is withdrawn from sale you will be able to put more money into your account for a further seven working days."

meat_n2_reg

Already got this fix and was hoping to transfer a soon to mature 1yr fix  to it , however looks like I won't be able to now 

Also was waiting for June's Bank of England Interest decision in case it goes up 

janusdesign

I guess the alternative now is Habib Bank @ 2% for 6 Months... never used them myself, but i'll wait until the BoE update.. in any event, most of my next round of fixed funding won't be for a couple more months (so maybe 2 rate rises time).

wiseonesomeofthetime

refluxer said:

Shawbrook's 6 month Fixed Rate Bond - Issue 2 @ 2% has been withdrawn today so if you opened one of these and are wanting to add any more funds, you now have 7 working days to do this according to the T&Cs.

"Please note that the Bank reserves the right to withdraw this product at any time. If the product is withdrawn from sale you will be able to put more money into your account for a further seven working days."

Had been holding out for a better rate post next BoE meeting, however, new issue at lower rate suggests they have enough funds for now, so I've chucked a bit more in mine for next five months. 

If Chase release my transfer of course 🤦‍♂️🙄

Bigwheels1111

I’m hoping for 2 base rate rises before my first pot is reinvested and 3 rises before my second pots due.