Notice Accounts

ZapataCapital

refluxer said:

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.

Minimum £5k. Very much got the South Park "aaaaaaand it's gone" bit in my mind.

  

refluxer

ZapataCapital said:

Minimum £5k. Very much got the South Park "aaaaaaand it's gone" bit in my mind.

An unfamiliar bank that isn't part of the CoP scheme who don't allow small test deposits ? It's a no from me !

Bigwheels1111

Not allowing £1 test payment is strange.
Al Rayan 5K minimum to open said £1 test was fine.
Shawbrook 1k minimum said £1 was fine.
So sent £1 to both.

DaveyCee

Could someone just confirm for me please......

I have an OakNorth 90 day Notice Account at 2.02%.

If I open the newest 90 day account at 2.21% and transfer my money into that from the old one will I still keep my original notice withdrawal date or do you have to begin another 90 days notice?

Also, is there a way of withdrawing the interest other than 90 days after it's been paid monthly? In my ignorance I stupidly thought the interest and savings would all be paid out together after 90 days notice. 

Warm regards
D

DaveyCee

NameWithheld said:

Bobblehat said:

Oaknorth website showing .....

2.12% AER 90 Days
2.15% AER 120 Days

Thanks. Just opened a new 90 day issue 19 account at 2.12% and moved everything over from my issue 18 account at 2.02%

Did you still keep the original notice withdrawal date or you have to begin the 90 days again?

Expotter

When you transfer into a new issue, the original notice for withdrawal is cancelled and you have to give notice again, restarting the 90 days.
If you read through the first few pages on this thread, it's been discussed more than once.

Thumbs_Up

DaveyCee said:

 
If I open the newest 90 day account at 2.21% and transfer my money into that from the old one will I still keep my original notice withdrawal date or do you have to begin another 90 days notice?

Also, is there a way of withdrawing the interest other than 90 days after it's been paid monthly? In my ignorance I stupidly thought the interest and savings would all be paid out together after 90 days notice. 

No, you won't keep your orginal notice, you just give new notice. No, you can't withdraw interest, just wait until notice is up.

pearl123

I''m new to Oaknorth. If I want to give  notice on my 90 account.  Can it be done online with OakNorth?

Thumbs_Up

pearl123 said:

I''m new to Oaknorth. Giving notice of withdrawl from a  notice account.  Can it be done online with OakNorth?

On the app you can. So no telephone calls, or secure messages, or emails needed.

refluxer

DaveyCee said:

Also, is there a way of withdrawing the interest other than 90 days after it's been paid monthly? In my ignorance I stupidly thought the interest and savings would all be paid out together after 90 days notice. 

If you want to withdraw all of your money plus interest, the best option to to notify them (by email) that you want to close your account. I did this recently and received a confirmation email the following day which specified the date the funds will be paid.

Otherwise, if you only apply to withdraw your balance, wait until the interest is credited and then give notice on that separately, that interest in turn will earn further interest and so on and so on !