Notice Accounts

isasmurf

janusdesign said:

Expotter said:

Oak North Bank has increased its 90 day notice account to 2.21%

do you happen to know if OakNorth automatically increase the rate on existing issues ?

I opened Issue 19 10 days ago that is paying 2.12%, but the existing rate so far hasn't changed to 2.21%... i've emailed them to check and if they don't automatically apply new rates to existing notice accounts, i've given them notice to cancel as i'm still in the cooling off period.

With Oak North you can transfer to a new issue notice account of the same or longer notice period without needing to serve notice. 

JGB1955

janusdesign said:

Expotter said:

Oak North Bank has increased its 90 day notice account to 2.21%

do you happen to know if OakNorth automatically increase the rate on existing issues ?

I opened Issue 19 10 days ago that is paying 2.12%, but the existing rate so far hasn't changed to 2.21%... i've emailed them to check and if they don't automatically apply new rates to existing notice accounts, i've given them notice to cancel as i'm still in the cooling off period.

I had to physically move my money from the v.18 (2.02% ) to v.19 (2.12%) account.  Having already given notice on the v.18 account, I added £1 to it, then moved it once the £1 had been added.  It was still within the 14 (?) day funding window.  I'm reluctant to do it again for just an extra £20 p.a.. or £1.67 p.m..  Just waiting for something above 3% in November!

redpete

Expotter said:

Oak North Bank has increased its 90 day notice account to 2.21%

I wonder how many people have opened 3 issues of their notice account in 3 weeks - and how long before OakNorth just decide to increase rates without needing to open new issues?

JGB1955

redpete said:

Expotter said:

Oak North Bank has increased its 90 day notice account to 2.21%

I wonder how many people have opened 3 issues of their notice account in 3 weeks - and how long before OakNorth just decide to increase rates without needing to open new issues?

That would certainly make my life easier!

CooperSF

I recently opened the 90 day notice saver with OakNorth (2.12%).

Is it possible to just open the new 2.21% 90-day notice saver and transfer the funds over?

JGB1955

CooperSF said:

I recently opened the 90 day notice saver with OakNorth (2.12%).

Is it possible to just open the new 2.21% 90-day notice saver and transfer the funds over?

I did it, although I had already given notice on the whole of the previous account.  Why not open a new one and see?  It may not  matter if you don't fund it within their 'window'... it will just wither on the vine!

redpete

CooperSF said:

I recently opened the 90 day notice saver with OakNorth (2.12%).

Is it possible to just open the new 2.21% 90-day notice saver and transfer the funds over?

Yes, but it makes it faster if you open it with a pledge to fund it to £1, then transfer in £1 from your linked bank account, then it is available to use.  Then you can transfer the balance of any other previous issue accounts into the new one - existing withdrawal requests will get cancelled, so you can leave in enough to cover these requests and transfer the rest.

Notepad_Phil

I'm thinking of opening a joint OakNorth notice account and would like to use our Santander joint account as the nominated bank to pay into and out of it, but am unsure as to how to fill in the OakNorth application form where it asks for the Nominated Bank Account Holder Name(s).

There's only one field provided, so do I just put a comma between our names or is there some other format that we should use?

I've looked through the site for help and I guess we could just use my sole bank account if nobody knows, but I would like to have this set up so Mrs Notepad can send money to a nominated account that she has access to if I'm not around (for whatever reason).

Edit - in case anyone comes across this and needs to know, I succesfully opened a joint acount by simply putting a comma between our names.

ZapataCapital

Desk said:

I'm really kicking myself for not grabbing that 3.2 per cent one year fix at Union Bank of India.

I sincerely hope that doesn't represent the high watermark for one year fixes. Although the base rate is expected to rise further, it's really difficult to know when to lock in.

Desk

On the Bank of India funds, why is it that my UK bank is saying that the account I'm paying into can't be checked? Obviously when you're putting a fair few quid in something any little red flags like that concern you, no matter how many times you check it's a legit site/fund.

Anyone know why that is?

refluxer

ZapataCapital said:

On the Bank of India funds, why is it that my UK bank is saying that the account I'm paying into can't be checked? Obviously when you're putting a fair few quid in something any little red flags like that concern you, no matter how many times you check it's a legit site/fund.

Anyone know why that is?

It's because they are not part of the Confirmation of Payee scheme. Just make sure you get the account details correct and make a small (£1) test payment initially, if possible.