Notice Accounts

SnowMan

moi said:

I've had the Vanquis & DF Capital 90 Day Notice accounts for a couple of months. The first time I've had any notice account. Talking about cancelling withdrawals made me question something. 
Sorry if this is a silly question, but if one requested a withdrawal for 90 days time, which happened, is it not possible to just put some of the money back in if desired? (e.g. depending on other rates in 90 days time)

I've got withdrawal notices in for my DF Capital 90 day (issue 1) account that takes the balance down to just over £1,000. (£1,000 appears to be the minimum balance although you might get away with going below that). The intention is to redeposit depending on what the interest is at the time of the withdrawal. In theory DF could try to stop further deposits into the account at some future point at a time that the interest rate still remained competitive but that doesn't seem likely and it's not a disaster if that happened. 

slinger2

SnowMan said:

moi said:

I've had the Vanquis & DF Capital 90 Day Notice accounts for a couple of months. The first time I've had any notice account. Talking about cancelling withdrawals made me question something. 
Sorry if this is a silly question, but if one requested a withdrawal for 90 days time, which happened, is it not possible to just put some of the money back in if desired? (e.g. depending on other rates in 90 days time)

I've got withdrawal notices in for my DF Capital 90 day (issue 1) account that takes the balance down to just over £1,000. (£1,000 appears to be the minimum balance although you might get away with going below that). The intention is to redeposit depending on what the interest is at the time of the withdrawal. In theory DF could try to stop further deposits into the account at some future point at a time that the interest rate still remained competitive but that doesn't seem likely and it's not a disaster if that happened. 

My strategy is similar. Give notice in 2 weeks to get down to £1k. Thinking that DF Capital are likely to still be competitive in early June. 

Zaul22

Does anyone have experience of how KR/CSB do rate reductions? Their terms say they only give 14 days notice on the 60 day account. Do they actually give the full notice or the 14+closure option?

ToastLady

Zaul22 said:

Does anyone have experience of how KR/CSB do rate reductions? Their terms say they only give 14 days notice on the 60 day account. Do they actually give the full notice or the 14+closure option?

If CSB is Charter, then they do give you 60 days +14 days notice. I had notification on 9th Jan for interest reduction from 24th March. No idea about KR.

Bobblehat

ToastLady said:

Zaul22 said:

Does anyone have experience of how KR/CSB do rate reductions? Their terms say they only give 14 days notice on the 60 day account. Do they actually give the full notice or the 14+closure option?

If CSB is Charter, then they do give you 60 days +14 days notice. I had notification on 9th Jan for interest reduction from 24th March. No idea about KR.

I may be getting confused with another bank, but I have a vague idea that Charter may have recently notified that there are changes to the T&C's of Notice accounts that gives them the option to offer less than 14 days notice + the notice period of a rate drop with the proviso that you can close the account within 30 days of the notification. Sorry about the vagueness, but it was from memory from a conversation with Mrs Bobblehat who has the 60Day account.

Looking at the T&C's of the current 60 Day offering has revealed this section in the General Savings Conditions. It certainly looks to me that they have made it possible to offer less than 14 days + the Notice period in exchange for unconditional closure. Am I barking up the wrong tree?

slinger2

Kent Reliance seem to either give you the notice period + 14 days OR only 14 days, in which case you have the option of closing your account without penalties.

slinger2

Email from RCI Bank notifying me of a rate reduction from 4.75% to 4.55% on my 95 day account from 7 Jun 2025.

1spiral

slinger2 said:

Email from RCI Bank notifying me of a rate reduction from 4.75% to 4.55% on my 95 day account from 7 Jun 2025.

And that change comes only a week or so after the reduction to 4.75 on 27/5.

ToastLady

Bobblehat said:

ToastLady said:

Zaul22 said:

Does anyone have experience of how KR/CSB do rate reductions? Their terms say they only give 14 days notice on the 60 day account. Do they actually give the full notice or the 14+closure option?

If CSB is Charter, then they do give you 60 days +14 days notice. I had notification on 9th Jan for interest reduction from 24th March. No idea about KR.

I may be getting confused with another bank, but I have a vague idea that Charter may have recently notified that there are changes to the T&C's of Notice accounts that gives them the option to offer less than 14 days notice + the notice period of a rate drop with the proviso that you can close the account within 30 days of the notification. Sorry about the vagueness, but it was from memory from a conversation with Mrs Bobblehat who has the 60Day account.

Looking at the T&C's of the current 60 Day offering has revealed this section in the General Savings Conditions. It certainly looks to me that they have made it possible to offer less than 14 days + the Notice period in exchange for unconditional closure. Am I barking up the wrong tree?

Thanks for that. I'll have to check my T's and C's but certainly haven't received any emails about any changes.

crumpet_man

Did anyone else get £100 compensation from First Save due to the IT issue with Barclays which occurred end of Jan?