Notice Accounts

slinger2

The 3 accounts that I can see (35, 60, 90 days) are all "trackers". If the BOE base rate changes this will be reflected in the interest rate within 14 days. If they change the "margin" (the difference between the BOE base rate and the interest rate) they will give you a longer period of notice (eg 104 days for the 90 day account).

Personally I find these "tracker" accounts less tempting than the other notice accounts I have, especially in an environment where rates are more likely to go down than up. It's a bit of a punt really. If you expect the base rate to stay where it is for a few months they could be good options. If you expect a drop, they look less tempting.

Born2Save_3

crumpet_man said:

My interest payment was not delayed, this is why I was surprised at the compensation.  I received both January and February interest payments from Firstsave 90 to nominated account as usual.

Until the email from Firstsave I wasn't even aware that they used Barclays.

Thank you crumpet_man;  I received compensation from FirstSave, thanks to you highlighting here.

Born2Save_3

Vida 95 Day Notice Account

Reducing the current rate of 4.85%A to 4.65%A on 9th April 2025

I recently opened two accounts with Vida, one being the 95 Day Notice. The whole process was straight-forward and without problems.

slinger2

Born2Save_3 said:

Vida 95 Day Notice Account

Reducing the current rate of 4.85%A to 4.65%A on 9th April 2025

I recently opened two accounts with Vida, one being the 95 Day Notice. The whole process was straight-forward and without problems.

Vida are one of those providers that only guarantee to give 14 days notice of a rate reduction on their notice accounts. Hence the 9 April date. I think you'll have the option to close the account, penalty free.

ToastLady

slinger2 said:

Born2Save_3 said:

Vida 95 Day Notice Account

Reducing the current rate of 4.85%A to 4.65%A on 9th April 2025

I recently opened two accounts with Vida, one being the 95 Day Notice. The whole process was straight-forward and without problems.

Vida are one of those providers that only guarantee to give 14 days notice of a rate reduction on their notice accounts. Hence the 9 April date. I think you'll have the option to close the account, penalty free.

Yes you do have the option to close the account, although it's not clear how on the website. You have to withdraw full amount, and then a pop up appears asking if you want to close. I did this as soon as I received email as have better paying accounts.

Aidanmc

slinger2 said:

Made a withdrawal request from my Vanquis 90-day account to take the balance down to £1k. The money should pop into my bank account in early June when the rate drops to 4.65%AER. I'll get 5.00%AER until then. What I'll do with it I've no idea (might even end up cancelling the withdrawal). Haven't heard from DF Capital recently so that's an option if I want it to stay in a notice account - rate on my 90-day with them will be 4.90%AER in early June (unless I've missed an email somewhere).

When making a withdrawal request, if i enter full balance (or even a little less)it results in account closure.

If i proceed can this also be cancelled before notice period is up?

What is the min balance to keep account open?

Can the withdrawal instruction be viewed/cancelled online?

Thanks

SnowMan

Email just received to say DF Capital 90 day (issue 1) notice account reducing on 7th July to 4.65% AER from 4.9% AER.

(The already notified earlier decrease from 5.11% AER to 4.90% AER occurs on 22 April 2025)

slinger2

SnowMan said:

Email just received to say DF Capital 90 day (issue 1) notice account reducing on 7th July to 4.65% AER from 4.9% AER.

(The already notified earlier decrease from 5.11% AER to 4.90% AER occurs on 22 April 2025)

Same here. No surprise there. Exactly matches the 4.65% for my Vanquis account from 4 June.

I've got a few k coming out of the Vanquis account on 2 June, so I can move that to DF and get a bit more interest for a month.

As ever with these notice accounts you've got to be ready to change plans as the rates change.

Born2Save_3

Aidanmc said:

slinger2 said:

Made a withdrawal request from my Vanquis 90-day account to take the balance down to £1k. The money should pop into my bank account in early June when the rate drops to 4.65%AER. I'll get 5.00%AER until then. What I'll do with it I've no idea (might even end up cancelling the withdrawal). Haven't heard from DF Capital recently so that's an option if I want it to stay in a notice account - rate on my 90-day with them will be 4.90%AER in early June (unless I've missed an email somewhere).

When making a withdrawal request, if i enter full balance (or even a little less)it results in account closure.

If i proceed can this also be cancelled before notice period is up?

What is the min balance to keep account open?

Can the withdrawal instruction be viewed/cancelled online?

Thanks

In my experience of notice accounts, most organisations will let you cancel or change a withdrawal request, even if it is also a closure.  You may need to call to do this as the web interface may limit what you can do.  Best to call the organisation and check first for what you specifically want to do or even do a few test withdrawal requests in advance or when you really need it.

Recently with DFCapital, I was able to put back dates, by just a week or so, and reduce the amount I wanted to withdraw.  Also over the phone I could create a withdrawal request on a date I wanted rather than having to do it exactly 90 days in advance through the web interface.

With Vanquis and DFCapital the minimum balance is £1000.  I think that with Vanquis their system is stricter and is based on what your current balance is rather than what it may be in say 3 months, with accumulated interest.  DFCapital are a bit more flexible and will allow you to have withdrawal requests for a greater value than you have currently in your account.  In one case I was 'Overdrawn' as they call it by £30K+.  They notified me but didn't cancel or change the withdrawal requests I had.  I remedied this by a phone call about a month later.

Withdrawal requests can usually be viewed online and may give you the option to cancel.  With some you may need to send a message to cancel or change. This may take a day or two, so, if urgent, best to call.

Hope this helps.

Born2Save_3

DFCapital 120 Day Notice Issue 1

Just wanted to check if there has been any announcements for the DFCapital 120 Day Notice Issue 1 ?  Currently it is 5%A.  The last email notification I received was on 31/1/25 stating a drop to 5%A on 14/2/25.

DFCapital did/may still do offer later issues of the 90 Day and 120 Day notice accounts, that had lower rates at the time then the issue 1.  I called DFCapital about how rates change on various issues and was told that the older issues tend to have reductions at a later date. But I do wonder, if the rates on some of the later issues may actually hold longer then the earlier issues.