Notice Accounts

mebu60

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 👍

I've just done Charter's 95 Day Notice Issue 63 at 5.25% on the basis that I will get three months more at that rate when returns start falling (more than they are doing currently).

gwapenut

mebu60 said:

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 👍

I've just done Charter's 95 Day Notice Issue 63 at 5.25% on the basis that I will get three months more at that rate when returns start falling (more than they are doing currently).

That's not guaranteed with Charter.
https://s3-eu-west-1.amazonaws.com/pdf.chartersavingsbank.co.uk/01097_general_savings_conditions.pdf

20.6 If we decrease the interest rate or change tiers to your disadvantage, we will give you at least 14 days’ notice by post, email, secure message on our online banking service, a message on your statement, or in any other way that will be sent to you personally. You can then if you wish, close your Account at any time in accordance with the Specific Conditions.

20.7 If we decrease the interest rate relying on paragraph 20.3 or the amount of notice of the change we give you is less than 14 days plus the amount of notice you have to give us to make a withdrawal from or to close your Account then you will then be free to close your Account (without notice, loss of interest or additional charges) at any time within 30 days of the date we reasonably expect you will have received our notification to you of the change

allegro120

Rheumatoid said:

allegro120 said:

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!

DF Personal savings T&C, 26. "If we make a change to your managed variable rate, and that change is to your disadvantage, we will: ...b) provide you with a notice period of 14 days (plus the standard notice period required for withdrawals on your Notice Account) before applying the new rate to your account – always subject to a minimum period of notice of 30 days." - for 90 Day notice it is 104 days, exactly the same as Oxbury.  My DF 1 year fixed is maturing next week and they offered a variety of maturity options.  I've picked 180 Days' notice at 5.4% which will guarantee 6+ months of this rate.

In my personal experience Oxbury app is great and never failed on me.

Have DF removed the extra 14 days? This is from the T&C's on their 120 day 5.35% account:

 If we make a change to your managed variable rate, and that change is to your disadvantage, we will advise you in advance of the change taking effect (in writing either by post or by email); and b. provide you with the standard notice period required for withdrawals on your Notice Account before applying the new rate – always subject to a minimum period of notice of 30 days, and remind you within 14 days of the change taking effect

In my understanding "minimum period of notice of 30 days" applies to accounts with no notice or very short notice (for example 1 day notice).
90d and 120d exceed 30 days so it is irrelevant to these accounts.

Rheumatoid

allegro120 said:

Rheumatoid said:

allegro120 said:

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!

DF Personal savings T&C, 26. "If we make a change to your managed variable rate, and that change is to your disadvantage, we will: ...b) provide you with a notice period of 14 days (plus the standard notice period required for withdrawals on your Notice Account) before applying the new rate to your account – always subject to a minimum period of notice of 30 days." - for 90 Day notice it is 104 days, exactly the same as Oxbury.  My DF 1 year fixed is maturing next week and they offered a variety of maturity options.  I've picked 180 Days' notice at 5.4% which will guarantee 6+ months of this rate.

In my personal experience Oxbury app is great and never failed on me.

Have DF removed the extra 14 days? This is from the T&C's on their 120 day 5.35% account:

 If we make a change to your managed variable rate, and that change is to your disadvantage, we will advise you in advance of the change taking effect (in writing either by post or by email); and b. provide you with the standard notice period required for withdrawals on your Notice Account before applying the new rate – always subject to a minimum period of notice of 30 days, and remind you within 14 days of the change taking effect

In my understanding "minimum period of notice of 30 days" applies to accounts with no notice or very short notice (for example 1 day notice).
90d and 120d exceed 30 days so it is irrelevant to these accounts.

Agreed but the t&c providing 14 days over the notice period now seems to have gone.

mebu60

gwapenut said:

mebu60 said:

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 👍

I've just done Charter's 95 Day Notice Issue 63 at 5.25% on the basis that I will get three months more at that rate when returns start falling (more than they are doing currently).

That's not guaranteed with Charter.
https://s3-eu-west-1.amazonaws.com/pdf.chartersavingsbank.co.uk/01097_general_savings_conditions.pdf

20.6 If we decrease the interest rate or change tiers to your disadvantage, we will give you at least 14 days’ notice by post, email, secure message on our online banking service, a message on your statement, or in any other way that will be sent to you personally. You can then if you wish, close your Account at any time in accordance with the Specific Conditions.

20.7 If we decrease the interest rate relying on paragraph 20.3 or the amount of notice of the change we give you is less than 14 days plus the amount of notice you have to give us to make a withdrawal from or to close your Account then you will then be free to close your Account (without notice, loss of interest or additional charges) at any time within 30 days of the date we reasonably expect you will have received our notification to you of the change

Thanks for the heads-up @gwapenut , first notice account I've opened for a while, disappointing that the two way street has become one way, defeats part of the point of the account if I have to give 95 days notice for just 0.12% more than their EA yet it doesn't work both ways. Will have to be more cautious in looking at notice accounts again now that 1-2 year rates are less attractive. 

allegro120

Rheumatoid said:

allegro120 said:

Rheumatoid said:

allegro120 said:

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!

DF Personal savings T&C, 26. "If we make a change to your managed variable rate, and that change is to your disadvantage, we will: ...b) provide you with a notice period of 14 days (plus the standard notice period required for withdrawals on your Notice Account) before applying the new rate to your account – always subject to a minimum period of notice of 30 days." - for 90 Day notice it is 104 days, exactly the same as Oxbury.  My DF 1 year fixed is maturing next week and they offered a variety of maturity options.  I've picked 180 Days' notice at 5.4% which will guarantee 6+ months of this rate.

In my personal experience Oxbury app is great and never failed on me.

Have DF removed the extra 14 days? This is from the T&C's on their 120 day 5.35% account:

 If we make a change to your managed variable rate, and that change is to your disadvantage, we will advise you in advance of the change taking effect (in writing either by post or by email); and b. provide you with the standard notice period required for withdrawals on your Notice Account before applying the new rate – always subject to a minimum period of notice of 30 days, and remind you within 14 days of the change taking effect

In my understanding "minimum period of notice of 30 days" applies to accounts with no notice or very short notice (for example 1 day notice).
90d and 120d exceed 30 days so it is irrelevant to these accounts.

Agreed but the t&c providing 14 days over the notice period now seems to have gone.

Are you sure?  I've downloaded t&c 23 days ago and "14 days" was still there.  I didn't receive any communication from DF about any changes in t&c.

Rheumatoid

allegro120 said:

Rheumatoid said:

allegro120 said:

Rheumatoid said:

allegro120 said:

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!

DF Personal savings T&C, 26. "If we make a change to your managed variable rate, and that change is to your disadvantage, we will: ...b) provide you with a notice period of 14 days (plus the standard notice period required for withdrawals on your Notice Account) before applying the new rate to your account – always subject to a minimum period of notice of 30 days." - for 90 Day notice it is 104 days, exactly the same as Oxbury.  My DF 1 year fixed is maturing next week and they offered a variety of maturity options.  I've picked 180 Days' notice at 5.4% which will guarantee 6+ months of this rate.

In my personal experience Oxbury app is great and never failed on me.

Have DF removed the extra 14 days? This is from the T&C's on their 120 day 5.35% account:

 If we make a change to your managed variable rate, and that change is to your disadvantage, we will advise you in advance of the change taking effect (in writing either by post or by email); and b. provide you with the standard notice period required for withdrawals on your Notice Account before applying the new rate – always subject to a minimum period of notice of 30 days, and remind you within 14 days of the change taking effect

In my understanding "minimum period of notice of 30 days" applies to accounts with no notice or very short notice (for example 1 day notice).
90d and 120d exceed 30 days so it is irrelevant to these accounts.

Agreed but the t&c providing 14 days over the notice period now seems to have gone.

Are you sure?  I've downloaded t&c 23 days ago and "14 days" was still there.  I didn't receive any communication from DF about any changes in t&c.

The quote in my post above was from this morning

Rheumatoid

Rheumatoid said:

allegro120 said:

Rheumatoid said:

allegro120 said:

Rheumatoid said:

allegro120 said:

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!

DF Personal savings T&C, 26. "If we make a change to your managed variable rate, and that change is to your disadvantage, we will: ...b) provide you with a notice period of 14 days (plus the standard notice period required for withdrawals on your Notice Account) before applying the new rate to your account – always subject to a minimum period of notice of 30 days." - for 90 Day notice it is 104 days, exactly the same as Oxbury.  My DF 1 year fixed is maturing next week and they offered a variety of maturity options.  I've picked 180 Days' notice at 5.4% which will guarantee 6+ months of this rate.

In my personal experience Oxbury app is great and never failed on me.

Have DF removed the extra 14 days? This is from the T&C's on their 120 day 5.35% account:

 If we make a change to your managed variable rate, and that change is to your disadvantage, we will advise you in advance of the change taking effect (in writing either by post or by email); and b. provide you with the standard notice period required for withdrawals on your Notice Account before applying the new rate – always subject to a minimum period of notice of 30 days, and remind you within 14 days of the change taking effect

In my understanding "minimum period of notice of 30 days" applies to accounts with no notice or very short notice (for example 1 day notice).
90d and 120d exceed 30 days so it is irrelevant to these accounts.

Agreed but the t&c providing 14 days over the notice period now seems to have gone.

Are you sure?  I've downloaded t&c 23 days ago and "14 days" was still there.  I didn't receive any communication from DF about any changes in t&c.

The quote in my post above was from this morning

After a bit more digging they seem to have two lots of T&C's on their site.

The product summary box you read at application has the following link that includes the 14 days extra:

https://wp-dfc-retail-2019.s3.eu-west-2.amazonaws.com/media/2022/04/DF-Capital-Savings-Terms-and-Conditions.pdf

The link for T&C's at application are at the following link and exclude the 14 days:

savingstermsandconditions.pdf (dfcapital.bank)

allegro120

Rheumatoid said:

Rheumatoid said:

allegro120 said:

Rheumatoid said:

allegro120 said:

Rheumatoid said:

allegro120 said:

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!

DF Personal savings T&C, 26. "If we make a change to your managed variable rate, and that change is to your disadvantage, we will: ...b) provide you with a notice period of 14 days (plus the standard notice period required for withdrawals on your Notice Account) before applying the new rate to your account – always subject to a minimum period of notice of 30 days." - for 90 Day notice it is 104 days, exactly the same as Oxbury.  My DF 1 year fixed is maturing next week and they offered a variety of maturity options.  I've picked 180 Days' notice at 5.4% which will guarantee 6+ months of this rate.

In my personal experience Oxbury app is great and never failed on me.

Have DF removed the extra 14 days? This is from the T&C's on their 120 day 5.35% account:

 If we make a change to your managed variable rate, and that change is to your disadvantage, we will advise you in advance of the change taking effect (in writing either by post or by email); and b. provide you with the standard notice period required for withdrawals on your Notice Account before applying the new rate – always subject to a minimum period of notice of 30 days, and remind you within 14 days of the change taking effect

In my understanding "minimum period of notice of 30 days" applies to accounts with no notice or very short notice (for example 1 day notice).
90d and 120d exceed 30 days so it is irrelevant to these accounts.

Agreed but the t&c providing 14 days over the notice period now seems to have gone.

Are you sure?  I've downloaded t&c 23 days ago and "14 days" was still there.  I didn't receive any communication from DF about any changes in t&c.

The quote in my post above was from this morning

After a bit more digging they seem to have two lots of T&C's on their site.

The product summary box you read at application has the following link that includes the 14 days extra:

https://wp-dfc-retail-2019.s3.eu-west-2.amazonaws.com/media/2022/04/DF-Capital-Savings-Terms-and-Conditions.pdf

The link for T&C's at application are at the following link and exclude the 14 days:

savingstermsandconditions.pdf (dfcapital.bank)

Version 1 -  "provide you with a notice period of 14 days (plus the standard notice period required for withdrawals on your Notice Account) before applying the new rate to your account – always subject to a minimum period of notice of 30 days."

Version 2  -  "provide you with the standard notice period required for withdrawals on your Notice Account before applying the new rate – always subject to a minimum period of notice of 30 days, and remind you within 14 days of the change taking effect."

Aren't both versions saying the same thing, 14 days+standard notice period?

Rheumatoid

allegro120 said:

Rheumatoid said:

Rheumatoid said:

allegro120 said:

Rheumatoid said:

allegro120 said:

Rheumatoid said:

allegro120 said:

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!

DF Personal savings T&C, 26. "If we make a change to your managed variable rate, and that change is to your disadvantage, we will: ...b) provide you with a notice period of 14 days (plus the standard notice period required for withdrawals on your Notice Account) before applying the new rate to your account – always subject to a minimum period of notice of 30 days." - for 90 Day notice it is 104 days, exactly the same as Oxbury.  My DF 1 year fixed is maturing next week and they offered a variety of maturity options.  I've picked 180 Days' notice at 5.4% which will guarantee 6+ months of this rate.

In my personal experience Oxbury app is great and never failed on me.

Have DF removed the extra 14 days? This is from the T&C's on their 120 day 5.35% account:

 If we make a change to your managed variable rate, and that change is to your disadvantage, we will advise you in advance of the change taking effect (in writing either by post or by email); and b. provide you with the standard notice period required for withdrawals on your Notice Account before applying the new rate – always subject to a minimum period of notice of 30 days, and remind you within 14 days of the change taking effect

In my understanding "minimum period of notice of 30 days" applies to accounts with no notice or very short notice (for example 1 day notice).
90d and 120d exceed 30 days so it is irrelevant to these accounts.

Agreed but the t&c providing 14 days over the notice period now seems to have gone.

Are you sure?  I've downloaded t&c 23 days ago and "14 days" was still there.  I didn't receive any communication from DF about any changes in t&c.

The quote in my post above was from this morning

After a bit more digging they seem to have two lots of T&C's on their site.

The product summary box you read at application has the following link that includes the 14 days extra:

https://wp-dfc-retail-2019.s3.eu-west-2.amazonaws.com/media/2022/04/DF-Capital-Savings-Terms-and-Conditions.pdf

The link for T&C's at application are at the following link and exclude the 14 days:

savingstermsandconditions.pdf (dfcapital.bank)

Version 1 -  "provide you with a notice period of 14 days (plus the standard notice period required for withdrawals on your Notice Account) before applying the new rate to your account – always subject to a minimum period of notice of 30 days."

Version 2  -  "provide you with the standard notice period required for withdrawals on your Notice Account before applying the new rate – always subject to a minimum period of notice of 30 days, and remind you within 14 days of the change taking effect."

Aren't both versions saying the same thing, 14 days+standard notice period?

I don't read it that way. The second version just sends a reminder of the change taking effect. That will happen during the notice period and not add to it.