Notice Accounts

jaypers

Burcot said:

Charter also offering just over 5% for 60d.  How long will the over 5's last now??

Opened the 60d account - about to deposit the £5k minimum.  Does anyone have thoughts / experience of this Charter Savings  Bank please? 

Been with Charter for a few years and always found them to be excellent. Only slight irritation is that payments are FPS/immediate and next working day etc, but not the end of the world. 

slinger2

Oxbury cutting the rate on their old non-tracker 90-day account (NLA). Currently 5.0%, 4.5% from 20 Jan and 4.25% from 21 Feb.

Mine's already up for closure at the end of the year. Completely uncompetitive.

refluxer

slinger2 said:

Oxbury cutting the rate on their old non-tracker 90-day account (NLA). Currently 5.0%, 4.5% from 20 Jan and 4.25% from 21 Feb.

Mine's already up for closure at the end of the year. Completely uncompetitive.

Yes, it's a shame they're cutting the rate on that one so aggressively as it's served me well for a decent portion of this year. I only opened it with the minimum balance initially to give me access to Oxbury's existing-customer-only (6%) fixed bond rates, but put more in earlier this year once it became apparent that the rate was a decent amount higher than competing notice accounts elsewhere.

With this latest reduction announcement, they seem to be pricing in further multiple rate reductions in the next few months that may or may not happen and risk making it worse than the better easy access accounts. I'd already given notice to close the account with the knowledge I could cancel if the rate turned out to be competitive compared with easy access at some stage, but I really can't see that happening now with this further cut.

Bobblehat

1spiral said:

Vanquis 90 day NLA

Which issue went NLA? They are still offering 5.1% on 90Day!

slinger2

Bobblehat said:

1spiral said:

Vanquis 90 day NLA

Which issue went NLA? They are still offering 5.1% on 90Day!

There was a message earlier today about it being unavailable because they'd reached some (self imposed) funding limit. Seems they've changed their minds.

poseidon1

Burcot said:

Charter also offering just over 5% for 60d.  How long will the over 5's last now??

Opened the 60d account - about to deposit the £5k minimum.  Does anyone have thoughts / experience of this Charter Savings  Bank please? 

Another fan of Charter also  - have had up to 4 accounts with them running concurrently in the past.

Have looked at the Ts & Cs for the 60d, but did not like the 14 day notice for rate reductions. The 30 day has the same 14 days, but currently offering 4.75% paid monthly ( 4.85% annually) so have gone for that to replace an instant access account with them. 

slinger2

Seems that with Charter they might only give you 14 days notice of a rate reduction. However if the notice is less than your notice period + 14 days (which would be 74 days for a 60 day 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."

So you'd have to close the account, which might well be ok.

nottsphil

1spiral said:

Vanquis 90 day NLA

That must have happened in the previous 25 minutes. I funded an existing one within that time period, but I'm unsure if they will allow any more going in at the 5.1% APR.

1spiral

nottsphil said:

1spiral said:

Vanquis 90 day NLA

That must have happened in the previous 25 minutes. I funded an existing one within that time period, but I'm unsure if they will allow any more going in at the 5.1% APR.

I tried to open one about 2pm yesterday and there was a message stating it was now fully subscribed (despite still being on the website). As @slinger2 says above though. It appears they have reinstated it as I have just managed to apply for one. (Not confirmed as open yet so we'll see what happens). Seems strange if they are close to their limit that they would reinstate it on a Friday afternoon.

Bobblehat

1spiral said:

nottsphil said:

1spiral said:

Vanquis 90 day NLA

That must have happened in the previous 25 minutes. I funded an existing one within that time period, but I'm unsure if they will allow any more going in at the 5.1% APR.

I tried to open one about 2pm yesterday and there was a message stating it was now fully subscribed (despite still being on the website). As @slinger2 says above though. It appears they have reinstated it as I have just managed to apply for one. (Not confirmed as open yet so we'll see what happens). Seems strange if they are close to their limit that they would reinstate it on a Friday afternoon.

I applied for the Vanquis 90 Day 5.1% about 5.30pm yesterday. An email arrived minutes after the application saying it was successful. It appeared alongside my EA online two hours later, so it looks like I could have funded it then.

I must admit to some head scratching as I had apparently managed to open one after you posted the NLA message. I'd only read your NLA message about 6.45, that's why I asked about which issue went NLA. Later posts explained why there may have been a gap in applications. So, all turned out OK!

I have a 2YR Fix maturing on Monday so hopefully, I can fund the 90 Day then and get at least 90 + 14 days at 5.1%.