Notice Accounts

fabsaver

aaj123 said:

janusdesign said:

for reference, Dudley BS issued new notice accounts yesterday (min £1k).

• 120-Day @ 5.45%
• 90-Day @ 5.35%
• 60-Day @ 4.90%
• 30-Day @ 4.50%
  

much like FirstSave, should you need to you can withdraw immediately by paying a 30/60/90/120 interest penalty.

interestingly, reading the t&c yesterday, upon an interest rate reduction, it implies that you can close the account immediately without penalty or charges.

(ii) in relation to a reduction of Interest we will provide you with at least 14 days’ prior notice by a letter, email, other personal notice or, if you have registered for our Online Service, we may provide notice by secure message.
If you are unhappy with a reduction to the Interest rate, you may at any time up to 30 days from the date of the notice close your Account without charge. If you do not do so within this period you will be deemed to have accepted the change.

i'm reading the "date of the notice" to be the notice given by Dudley BS of the interest rate reduction, rather than the notice period of the account itself. I sent them a secure message yesterday about this, and will update the thread with their reply.

from past experience with Dudley BS, they should accept a £1 test deposit.

10_66 said:
Dudley Building Society.  Can anyone confirm whether Dudley BS generally pass on interest rate increases on their notice accounts, please?

sorry, I can't help with that as i've never had a notice account with them before - but unlike some of their previous notice accounts, there is no "Issue" in the product title, so hopefully rate increases will be passed on.

Can't seem to open an account with Dudley. Keep getting this when I hit submit on my application for the 120D notice.:

Sorry, but something went wrong

If you have any questions about your account, please send us a secure message, read our FAQs or call us on 01384 231414 (please ensure you quote your application number). Our phone lines are open Monday to Friday, 9am-5pm and Saturday 9am-12pm.

I'm having the same issue. Tried twice with same result.

10_66

fabsaver said:

aaj123 said:

Can't seem to open an account with Dudley. Keep getting this when I hit submit on my application for the 120D notice.:

Sorry, but something went wrong

If you have any questions about your account, please send us a secure message, read our FAQs or call us on 01384 231414 (please ensure you quote your application number). Our phone lines are open Monday to Friday, 9am-5pm and Saturday 9am-12pm.

I'm having the same issue. Tried twice with same result.

Same here.  I can't even get through to their online number, just constantly ringing out.

janusdesign

10_66 said:

fabsaver said:

aaj123 said:

Can't seem to open an account with Dudley. Keep getting this when I hit submit on my application for the 120D notice.:

Sorry, but something went wrong

If you have any questions about your account, please send us a secure message, read our FAQs or call us on 01384 231414 (please ensure you quote your application number). Our phone lines are open Monday to Friday, 9am-5pm and Saturday 9am-12pm.

I'm having the same issue. Tried twice with same result.

Same here.  I can't even get through to their online number, just constantly ringing out.

there is a message on the site when I try to login...

Please note that customers are currently experiencing issues when logging in to our Online Service and applying for an online savings account. We are looking into this issue, and apologise for any inconvenience caused.

so they are aware of the application issue.

aaj123

Dudley notice account online application is now working properly. 

janusdesign

Dudley BS update - I can now login, so hopefully your applications will start to work now.

with regards to what I said previously about immediate closure of the account should the interest rate drop, this has now been confirmed to me by Dudley BS as being correct.

I can also confirm with regards to the condition 9.10 that once we have confirmed the rate would be reduced, from that day you have 30 days to close the account with immediate effect- in those 30 days you will not be required to give notice.

also, I was wrong about the £1 test deposit for this account...

You are able to send a £1 payment, we can confirm this has been received, however it will be returned as it is under the minimum operating balance.

if the min balance for any other Dudley BS account was £1, then such a test deposit would be fine (have done it in the past with the 4.75% 1-year fix last year).

aaj123

janusdesign said:

Dudley BS update - I can now login, so hopefully your applications will start to work now.

with regards to what I said previously about immediate closure of the account should the interest rate drop, this has now been confirmed to me by Dudley BS as being correct.

I can also confirm with regards to the condition 9.10 that once we have confirmed the rate would be reduced, from that day you have 30 days to close the account with immediate effect- in those 30 days you will not be required to give notice.

also, I was wrong about the £1 test deposit for this account...

You are able to send a £1 payment, we can confirm this has been received, however it will be returned as it is under the minimum operating balance.

if the min balance for any other Dudley BS account was £1, then such a test deposit would be fine (have done it in the past with the 4.75% 1-year fix last year).

The ability to close account immediately without notice on a rate drop is great but to be fair, the real issue with accounts is about not raising rates when the base rate has moved up rather than about an absolute decrease. 

gwapenut

The Dudley seem to have lots and lots of old accounts. This suggests to me that the interest rate on this account will soon languish.

janusdesign

aaj123 said:

janusdesign said:

Dudley BS update - I can now login, so hopefully your applications will start to work now.

with regards to what I said previously about immediate closure of the account should the interest rate drop, this has now been confirmed to me by Dudley BS as being correct.

I can also confirm with regards to the condition 9.10 that once we have confirmed the rate would be reduced, from that day you have 30 days to close the account with immediate effect- in those 30 days you will not be required to give notice.

also, I was wrong about the £1 test deposit for this account...

You are able to send a £1 payment, we can confirm this has been received, however it will be returned as it is under the minimum operating balance.

if the min balance for any other Dudley BS account was £1, then such a test deposit would be fine (have done it in the past with the 4.75% 1-year fix last year).

The ability to close account immediately without notice on a rate drop is great but to be fair, the real issue with accounts is about not raising rates when the base rate has moved up rather than about an absolute decrease. 

yeah I see your point (looking at my Oxbury notice still paying 4.63% ), but my thinking with regards to immediate closure is not really about today, it's about next year if/when rates starts dropping.

I only have trivial balances in my notice accounts currently, so the rate is not overly important - I do have a tracker notice a/c, so I at least know if/when there is a rate rise on Thursday, it will go up automatically (though it wouldn't beat Dudley unless it's a 0.5% rise).

SirHugo

Have opened the Dudley Notice account. Already put some funds in. Was really peeved that I missed out on the Vanquis account the other day.
Luckily my notice for some of my Investec 90 Day funds is up in a couple of days, will move that straight over.

Burcot

Been a bit quiet!  Anyway, Tandem have just released 5% easy access account.  Any one had dealings with Tandem? It is open banking. 

Have just opened Tandem acc.  Cant see yet how to receive the full 5%.  Supposed to click a button on one of the app pages.  Could not see - have emailed them . 

Edit: 5% sorted. Was my mistake.