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Help to Save account closed - Made extra payment
UKSBD
Posts: 842 Forumite
I've just received notification that my Help to Save account closed today.
Logged in and saw last Faster Payment deposit was 5/1/23, BACS closure payment of £2,400 on 6/2/23 and closing balance of £0.00
I assume the £2,400 +bonus will be paid in to my bank account in next few days.
Problem is, I hadn't cancelled my standing order and 1 more payment of £50 went out today. (I have now cancelled it)
Anyone know if this £50 will be automatically returned, or if not, how I get it back now my account is closed?
Logged in and saw last Faster Payment deposit was 5/1/23, BACS closure payment of £2,400 on 6/2/23 and closing balance of £0.00
I assume the £2,400 +bonus will be paid in to my bank account in next few days.
Problem is, I hadn't cancelled my standing order and 1 more payment of £50 went out today. (I have now cancelled it)
Anyone know if this £50 will be automatically returned, or if not, how I get it back now my account is closed?
0
Comments
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Help to save ISA will automatically close. 4 years after of opening it. All funds should be returned to your designated account.
With your DD it should be returned to your account, not sure of the time frame. If your ISA and account are with the same bank then it shouldn’t take long.
Hope that helps.Proud to have dealt with our debtsStarting debt 2005 £65.7K.
Current debt ZERO.DEBT FREE0 -
Went on the fact that the Op suggested the account was closed without her requesting it. So assumed it was an the Help to save ISA. However the four year time frame appears to be on both.calcotti said:
Help to Save is not, as far as I know, an ISA.peteuk said:Help to save ISA …
OP = how long had you had the help to save account? Do you know why it closed. Bonuses are made at the two and four year point.
Proud to have dealt with our debtsStarting debt 2005 £65.7K.
Current debt ZERO.DEBT FREE0 -
Hi OP,
I had a help to save account which matured and closed after 4 years. I too had made an extra payment and it was bounced back to my bank and it was not taken again.2 -
Thanks,WabbitWabbit said:Hi OP,
I had a help to save account which matured and closed after 4 years. I too had made an extra payment and it was bounced back to my bank and it was not taken again.
I actually phoned them up this afternoon as in my admin panel it said I should have received my 2nd £600 bonus on Feb 1st and I hadn't.
They confirmed it should be with me soon and that I would also have my extra £50 returned too.0 -
Logged in to my bank this morning to find £3,000
No sign of the extra £50 yet but daresay it will arrive back eventually0
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