Notice Accounts

gwapenut

I'd choose a provider such as West Bromwich, Oxbury or Investec who, if they reduce the rate (as is likely with interest rates on the decline) have to maintain your current rate for the notice period plus 14 days.

Edit. Slinger2 has pointed out that Shawbrook also do this. As FL says, you can achieve better stability with less restrictions by choosing Ulster, but they do not allow joint accounts and do insist on you having their current account for new applications.

flaneurs_lobster

FIREmenow said:

Any advice for a newbie to notice accounts?

I'm think of putting a few £k into 45 day 5.16% with Shawbrook as the difference in rate for the longer notice periods doesn't seem worth it and I don't want a tracker. 

Got most of my cash in regular savers at 6% plus, and the rest in Ulster loyalty 5.2%. But aware Ulster is looking lonely at the top of the pots and could drop soon.

Many thanks 👍

The Ulster account gives 60 days notice of any rate reduction, why choose the Shawbrook over this?

slinger2

Check the T&Cs. I always go for those which give you the notice period plus 14 days. For Shawbrook they say "17.2. If we change the interest rate and it is not to your benefit, we will email you before the change to let you know the terms have changed on the following basis: i. for accounts with a notice period - a notice period of 14 days plus the notice period required for withdrawals on your type of account. ..." so they need to give you 59 days notice of a rate reduction.

FIREmenow

Ah-ha thanks, I knew some didn't match the notice periods when changing rates but didn't know which, thanks!

The only oxbury one is a 90-day tracker. I'll have a look at West brom and investec for something.

Cheers!

gwapenut

FIREmenow said:

Ah-ha thanks, I knew some didn't match the notice periods when changing rates but didn't know which, thanks!

The only oxbury one is a 90-day tracker. I'll have a look at West brom and investec for something.

Cheers!

I was wrong, Shawbrook also do this.

slinger2

FIREmenow said:

Ah-ha thanks, I knew some didn't match the notice periods when changing rates but didn't know which, thanks!

The only oxbury one is a 90-day tracker. I'll have a look at West brom and investec for something.

Cheers!

Oxbury have very recently withdrawn their 90 day account and replaced it with the tracker. Investec have one offering 5.25% currently. £5k minimum.

FIREmenow

Thank for the clarification everyone. Appreciate your vast knowledge on this 👍 

Blackbriar_040

My Shawbrook 120 day Notice just closed, so was considering the Oxbury and the DF Capital 90 Day Notice Accounts!

Apart from Oxbury being a Tracker and having a slightly higher rate, the other differences seem to be,

Oxbury, longer notice period of interest change, 104 days
DF, 30 days! (Doesn’t match notice period)
 
Oxbury, App/Web access 
DF, Web only!

Oxbury, No direct contact number
DF, Helpline number available 

Oxbury, No minimum withdrawal amount
DF, £1000 minimum 

Haven’t used Oxbury or DF Capital before,
looking at some reviews, the Oxbury App seems to be a bit temperamental when logging in, some people also mention the customer service can be slow to respond!

Also need to initially set up Oxbury account via PC/QR code!

Shame DF Capital don’t match the notice period, as I anticipate both accounts will drop the rate at some point!

Johnny-Cage

Blackbriar_040 said:

My Shawbrook 120 day Notice just closed, so was considering the Oxbury and the DF Capital 90 Day Notice Accounts!

Apart from Oxbury being a Tracker and having a slightly higher rate, the other differences seem to be,

Oxbury, longer notice period of interest change, 104 days
DF, 30 days! (Doesn’t match notice period)
 
Oxbury, App/Web access 
DF, Web only!

Oxbury, No direct contact number
DF, Helpline number available 

Oxbury, No minimum withdrawal amount
DF, £1000 minimum 

Haven’t used Oxbury or DF Capital before,
looking at some reviews, the Oxbury App seems to be a bit temperamental when logging in, some people also mention the customer service can be slow to respond!

Also need to initially set up Oxbury account via PC/QR code!

Shame DF Capital don’t match the notice period, as I anticipate both accounts will drop the rate at some point!

Oxbury does have a phone number I spoke to them the other day to change my device 

01244 735002

BigBlueSky

I'm with Oxbury and they do have a telephone number.

They also only have an 'Authenticator' app as far as I'm aware.  It is online through their website and you use the app to log you in.  I don't believe you can access your accounts just via an app.