Notice Accounts

janusdesign

PhilFox1985 said:

How are Oxbury at passing on rate improvements to earlier issues?

They are currently market leading.

generally speaking, they don't - I think it happened once months ago, but usually when they release a new issue and you already have a previous issue, you will need to...

1. open the new issue yourself.
2. email them (phone or chat may be options here, but I generally email) and ask them to transfer the balance (+ interest) from Issue X to Issue Y.
3. the last time I did (2), Oxbury took 5 minutes from me sending the email to them completing the task and informing me - it's never been longer than an hour I think.

as an example, on 15th June (last Thursday), I opened the new 90-Day (Issue 7) @ 4.40% and emailed them to transfer the balance from (Issue 6) 4.20% and as I say, that took 5 minutes.

last night on Moneyfacts, I noticed they had released an (Issue 8) 4.63% - so today, i've just completed the above process again (for the second time in 3 days) - though as they only work during the week, the transfer won't be actioned until Monday.

worth noting Investec don't have separate Issues, so their existing notice accounts tend to get updated rates automatically.

while i'm here, I might as well list their three new issues for others interested...

• 180-Day Notice (Issue 14) - 4.70%
• 120-Day Notice (Issue 22) - 4.67%
• 90-Day Notice (Issue 8) - 4.63%
  

jimexbox

PhilFox1985 said:

How are Oxbury at passing on rate improvements to earlier issues?

They are currently market leading.

They increased issue 6 to 4.2, so not the full increase. Took me a couple of minutes to open a new issue and send them a message to transfer my funds. 

PhilFox1985

Thanks both, sounds like no big barriers.

janusdesign

I don't think this has been mentioned previously, but RCI have a 95-day notice account paying 4.85% (£1k+)

SuzzleBumpkin

janusdesign said:

I don't think this has been mentioned previously, but RCI have a 95-day notice account paying 4.85% (£1k+)

Thanks for the info. I’ve just opened an account. Very easy. No problems. It coincided with my notice being up with DF Capital which is really good timing. So that money is going from 3.9 to 4.85 AND it pays interest monthly direct into my linked account which is always the ideal for me. Yay !! 😁

Zaul22

RCI looks very good but I couldn't find their rate history to see how good they are at increasing rates in good time for that account. (I know they are decent but not great for easy access). 

isasmurf

Zaul22 said:

RCI looks very good but I couldn't find their rate history to see how good they are at increasing rates in good time for that account. (I know they are decent but not great for easy access). 

Not the most obvious place to look
https://www.rcibank.co.uk/support-centre/legal-centre/your-agreement

They seem to apply the same rate to new and existing accounts. 

SuzzleBumpkin

isasmurf said:

Zaul22 said:

RCI looks very good but I couldn't find their rate history to see how good they are at increasing rates in good time for that account. (I know they are decent but not great for easy access). 

Not the most obvious place to look
https://www.rcibank.co.uk/support-centre/legal-centre/your-agreement

They seem to apply the same rate to new and existing accounts. 

Wonderful. Thanks for finding that. I started loading up my RCI account today and that makes me feel really happy with them. 

Much better than DF Capital where my money was at 3.9. And RCI do monthly interest paid away from the account which is SO great for people like me who are using notice accounts to fund an income. I’ve no idea why so many notice accounts and fixed bonds insist on only annual returns or interest which MUST be compounded. It’s annoying to the customer (me) and makes very little difference to them. Why not offer that extra bit of flexibility? Take note banks!!!

Patr100

Zopa:

We're getting in touch to let you know that rates for our Smart Saver are changing. Here's what that means for you:

The new rate for your Access pots will be: 3.92% AER* variable (3.85% gross**). This was applied to your account on 23/06/23. The old rate was: 3.52% AER* variable (3.46% gross**).

The new rate for your 7 Day Boosted pots will be: 3.96% AER* variable (3.89% gross**). This was applied to your account on 23/06/23. The old rate was: 3.56% AER* variable (3.50% gross**).

The new rate for your 31 Day Boosted pots will be: 4.06% AER* variable (3.98% gross**). This was applied to your account on 23/06/23. The old rate was: 3.66% AER* variable (3.60% gross**).

The new rate for your 95 Day Boosted pots will be: 4.16% AER* variable (4.08% gross**). This was applied to your account on 23/06/23. The old rate was: 3.76% AER* variable (3.69% gross**).

You don't need to do anything. We'll automatically adjust the interest rates for your Smart Saver.

jaypers

Poor rates there from Zopa. Pass.