Notice Accounts

Bobblehat

Thumbs_Up said:

Re: OakNorth, I have found this account to be least user friendly compared to my other notice account Zopa.

Thanks for the so called loop syndrome mentioned above, I have now ask via email for the account to be closed.

I also have become a bit cheesed off with OakNorth .... not easy to phone them, and I'm not happy with the lack of a secure method of sending them instructions, just an email which inevitably must include enough detail about the account you want to manage! I've asked for my notice account to be closed too.

jimexbox

Bobblehat said:

Thumbs_Up said:

Re: OakNorth, I have found this account to be least user friendly compared to my other notice account Zopa.

Thanks for the so called loop syndrome mentioned above, I have now ask via email for the account to be closed.

I also have become a bit cheesed off with OakNorth .... not easy to phone them, and I'm not happy with the lack of a secure method of sending them instructions, just an email which inevitably must include enough detail about the account you want to manage! I've asked for my notice account to be closed too.

I'm still within my 14 day cooling off period. Since I've opened a sandander esaver, the 2.75% one. I think I'll close my oaknorth account and move everything over. 

Thumbs_Up

To be fair to OakNorth they have just responded to my email, so very quick.

But here is one point (of a few) When I opened the 90 days notice account I gave notice immediately. So I was expecting to get access to my cash middle of November. Now I have closed the account, my money will be payed to my nominated account in early January. Very confusing, Zopa do it better.

My advice to anyone who saves with OakNorth is to look again how and when you want access to your money.

I was happy with OakNorth to a point, so I’m not moaning about them.

So the money is due in January which will be ready for a fixed bond account which hopefully will be over 5% for a year – so good timing!  

isasmurf

Zopa isn't a notice account. Thumbs_Up said:

To be fair to OakNorth they have just responded to my email, so very quick.

But here is one point (of a few) When I opened the 90 days notice account I gave notice immediately. So I was expecting to get access to my cash middle of November. Now I have closed the account, my money will be payed to my nominated account in early January. Very confusing, Zopa do it better

Closure shouldn't change your original notice. Isn't it just any additional funds (presumably interest) that you've now given notice on that will be paid in January?

Other than not having an option not to pay interest away, I didn't find Oak North operated any differently from other Notice accounts. Zopa isn't a notice account. You can't give notice to withdraw. It's an easy access account where you're agreeing not to access the money for a period in exchange for a higher rate. 

SJMALBA

Thumbs_Up said:

To be fair to OakNorth they have just responded to my email, so very quick.

But here is one point (of a few) When I opened the 90 days notice account I gave notice immediately. So I was expecting to get access to my cash middle of November. Now I have closed the account, my money will be payed to my nominated account in early January. Very confusing, Zopa do it better.

My advice to anyone who saves with OakNorth is to look again how and when you want access to your money.

I was happy with OakNorth to a point, so I’m not moaning about them.

So the money is due in January which will be ready for a fixed bond account which hopefully will be over 5% for a year – so good timing!  

Did you not ask them to close the account on the same date as your withdrawal notice was due to take effect?

Thumbs_Up

SJMALBA said:

Thumbs_Up said:

To be fair to OakNorth they have just responded to my email, so very quick.

But here is one point (of a few) When I opened the 90 days notice account I gave notice immediately. So I was expecting to get access to my cash middle of November. Now I have closed the account, my money will be payed to my nominated account in early January. Very confusing, Zopa do it better.

My advice to anyone who saves with OakNorth is to look again how and when you want access to your money.

I was happy with OakNorth to a point, so I’m not moaning about them.

So the money is due in January which will be ready for a fixed bond account which hopefully will be over 5% for a year – so good timing!  

Did you not ask them to close the account on the same date as your withdrawal notice was due to take effect?

No I did not..

Withdrawal notice was middle November. Now closure ask for, cash will be ready by early January.  

SJMALBA

Thumbs_Up said:

SJMALBA said:

Thumbs_Up said:

To be fair to OakNorth they have just responded to my email, so very quick.

But here is one point (of a few) When I opened the 90 days notice account I gave notice immediately. So I was expecting to get access to my cash middle of November. Now I have closed the account, my money will be payed to my nominated account in early January. Very confusing, Zopa do it better.

My advice to anyone who saves with OakNorth is to look again how and when you want access to your money.

I was happy with OakNorth to a point, so I’m not moaning about them.

So the money is due in January which will be ready for a fixed bond account which hopefully will be over 5% for a year – so good timing!  

Did you not ask them to close the account on the same date as your withdrawal notice was due to take effect?

No I did not..

Withdrawal notice was middle November. Now closure ask for, cash will be ready by early January.  

I gave notice in August, so withdrawal also due in November; last week, I emailed them to ask for the account to also be closed on the same date, and they emailed me back to confirm that it would, with all funds, inc. accrued interest, sent to my nominated account - no need for any new notice.

Thumbs_Up

SJMALBA said:

Thumbs_Up said:

SJMALBA said:

Thumbs_Up said:

To be fair to OakNorth they have just responded to my email, so very quick.

But here is one point (of a few) When I opened the 90 days notice account I gave notice immediately. So I was expecting to get access to my cash middle of November. Now I have closed the account, my money will be payed to my nominated account in early January. Very confusing, Zopa do it better.

My advice to anyone who saves with OakNorth is to look again how and when you want access to your money.

I was happy with OakNorth to a point, so I’m not moaning about them.

So the money is due in January which will be ready for a fixed bond account which hopefully will be over 5% for a year – so good timing!  

Did you not ask them to close the account on the same date as your withdrawal notice was due to take effect?

No I did not..

Withdrawal notice was middle November. Now closure ask for, cash will be ready by early January.  

I gave notice in August, so withdrawal also due in November; last week, I emailed them to ask for the account to also be closed on the same date, and they emailed me back to confirm that it would, with all funds, inc. accrued interest, sent to my nominated account - no need for any new notice.

I have just emailed them to query the dates.

Thumbs_Up

SJMALBA said:

Thumbs_Up said:

To be fair to OakNorth they have just responded to my email, so very quick.

But here is one point (of a few) When I opened the 90 days notice account I gave notice immediately. So I was expecting to get access to my cash middle of November. Now I have closed the account, my money will be payed to my nominated account in early January. Very confusing, Zopa do it better.

My advice to anyone who saves with OakNorth is to look again how and when you want access to your money.

I was happy with OakNorth to a point, so I’m not moaning about them.

So the money is due in January which will be ready for a fixed bond account which hopefully will be over 5% for a year – so good timing!  

Did you not ask them to close the account on the same date as your withdrawal notice was due to take effect?

Thank you for the nudge. I can have access to my money on my withdrawal date now confirmed. Like a sop, I was going to wait until January. So thanks to you and the forum that allows me to ask such questions.

wiseonesomeofthetime

Thanks for the information. 

Emailed Oaknorth, like suggested here, and my account will now be closed at the same time as my funds withdrawn, just after Christmas 👍