FD switch question

TruthorConsequences

Hi there,

I am in the middle of the switching process for FD (new account opened, old account closed, £1000 transferred in and waiting for bonus). 

I can’t seem to find anything in the t’s & c’s about whether the £1000 needs to stay in the account for any specific period of time. I’m sure I’m being overly cautious but didn’t want to withdraw any funds taking me below £1000 until I’ve been paid the bonus. Can I, if I wanted to, effectively withdraw the lot now without it affecting me getting the bonus?

Thanks for any advice on this 

grizzlegrizzle

You can withdraw the £1000. I believe FD (like many of these bank offers) only require you to pay the money in but there is no requirement to leave it there. 

[Deleted User]

If you have the cash to spare, the £1000 isn't a bad idea to pay into their 12 month linked regular saver for the 3.5% interest, it's what I did with a few hundred quid more, paying off £150 a month into it, will close and take the interest out and switch the account next year 

TruthorConsequences

Thank you both, that’s really good to know and interesting about the 3.5% saver, I’ll give that sone further thought 

[Deleted User]

I think I did £150 bonus + £1000 paid in + £650 transfer to do £150 a month and it runs until April next year so it's better than nothing and was a good % rate particularly at the time 

Poormum

Sorry to hijack this threat but is there a way to open the 3.5% saver through the app? I can’t find a way to do it? 

ircE

Poormum said:

Sorry to hijack this threat but is there a way to open the 3.5% saver through the app? I can’t find a way to do it? 

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