Oxbury Notice Accounts

housebuyer143

Questions.

1. Do Oxbury increase the rates while your money is in the 90 day account or do I to apply for a new issue?
2. Can I issue notice right away and then cancel if I decide I dont want to take it out?

janusd

housebuyer143 said:

Questions.

1. Do Oxbury increase the rates while your money is in the 90 day account or do I to apply for a new issue?

they can do (they did with Issue 8), but more usually they will release new issues.

the routine if that happens is to open the new issue yourself (assuming it's at a higher rate!) and then email / chat with them requesting the balance be transferred from the old issue to the new issue - if you tried to transfer between issues yourself, you would need to give 90 days notice, but they can do it immediately for you... in the past, i've had that upgrade take less than 20 mins between sending email and having the balance transferred and old issue closed... for Issue 9 (that they announced late on a Friday night I think), it took 2 days... worth noting that opening a new issue would require you to create a new payee at your nominated account if you wish to deposit again as the account number will change with each new issue.

housebuyer143 said:

2. Can I issue notice right away and then cancel if I decide I dont want to take it out?

yes - just chat with them (Mon-Fri 9-5) or send them an email... I did that when the rate was 4.63%, but cancelled when they later raised the rate... couple of mins on the chat confirming my security details and they were happy to cancel.

NameWithheld

Yesterday they increased the rates on all old 120 day issues to match the current issue, but they didn't do this for the old 90 day issues