Masthaven question.

whattochoose

I have a Masthaven fixed term savings account which is due to mature in July 2023.
However, I had previously been notified of their intention to with draw from the UK banking market.
They now tell me...
For Fixed Term Deposits with a maturity date later than 28th February 2023, we will close these accounts earlier than the agreed date, but the good news is that we will be paying you the full interest amount up to your original maturity date. Your fixed term account will be closed in January / February 2023 and your funds will be returned to your nominated bank account.
However, they then go on to say....
If for any reason, we are unable to return your funds to the nominated bank account, your money will be held in another account until it can be paid to you. We will give you more details about this account when we notify you that your account is closing.
I can't think of any reason why they can't pay my funds to the account I have nominated to receive monthly interest payments.
Can you?
Thank you.

ZeroSum

I think it's more that if someone hasn't got their interest paid extremely, & their nominated account has since been closed, the person might be unaware that their old account was the nominated account