Martin Lewis: Urgent warning for savers as base rate held at 5.25%

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Comments

  • I suspect there are going to be quite a few savers who, having tied up their money for 12 months with no access, will be posting online after Xmas asking how they can get their money back. Let's hope I'm completely wrong !
  • ua8
    ua8 Posts: 29 Forumite
    First Post
    Hi, I've just opened Ahli United Bank (UK) 6.1% 1 year fixed says needs to be fully funded by 11.59pm on 31/10/23 so that gives me some time if anything better arrives and also lets me carry on bit longer with current easy access 

    my question is can I send any amount of 
    deposits from now till 31/10/23 or would it need to be full in one deposit ?

    Thank you 
  • ua8 said:
    Hi, I've just opened Ahli United Bank (UK) 6.1% 1 year fixed says needs to be fully funded by 11.59pm on 31/10/23 so that gives me some time if anything better arrives and also lets me carry on bit longer with current easy access 

    my question is can I send any amount of deposits from now till 31/10/23 or would it need to be full in one deposit ?

    Thank you 
    Is this via Raisin? If so, you can send money to your Raisin holding account in several transactions. Once the holding account balance reaches what you told Raisin you were going to deposit with Ahli United Bank then the money will transfer automatically to Ahli United Bank.
    'Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it' - Albert Einstein.
  • I don't know whether there are any fees to pay if you commit to save £xxx and then fail to transfer the money. Check the T& Cs.
  • ua8
    ua8 Posts: 29 Forumite
    First Post
    ua8 said:
    Hi, I've just opened Ahli United Bank (UK) 6.1% 1 year fixed says needs to be fully funded by 11.59pm on 31/10/23 so that gives me some time if anything better arrives and also lets me carry on bit longer with current easy access 

    my question is can I send any amount of deposits from now till 31/10/23 or would it need to be full in one deposit ?

    Thank you 
    Is this via Raisin? If so, you can send money to your Raisin holding account in several transactions. Once the holding account balance reaches what you told Raisin you were going to deposit with Ahli United Bank then the money will transfer automatically to Ahli United Bank.

    yes via Raisin, logged in and I see Raisin account: GBP 0.00 Im guessing if I deposit less what I told and it let it reach 31/10/23 I will just have option to widthdrew back and account get closed ? 
    Thank You
  • ua8 said:
    ua8 said:
    Hi, I've just opened Ahli United Bank (UK) 6.1% 1 year fixed says needs to be fully funded by 11.59pm on 31/10/23 so that gives me some time if anything better arrives and also lets me carry on bit longer with current easy access 

    my question is can I send any amount of deposits from now till 31/10/23 or would it need to be full in one deposit ?

    Thank you 
    Is this via Raisin? If so, you can send money to your Raisin holding account in several transactions. Once the holding account balance reaches what you told Raisin you were going to deposit with Ahli United Bank then the money will transfer automatically to Ahli United Bank.

    yes via Raisin, logged in and I see Raisin account: GBP 0.00 Im guessing if I deposit less what I told and it let it reach 31/10/23 I will just have option to widthdrew back and account get closed ? 
    Thank You
    I've never done this (I have withdrawn matured fixed rate funds from my holding account, but not partial deposits). If you've added some funds to the holding account and then change your mind it would probably be best to message Raisin to cancel the Ahli United Bank account and then withdraw the funds (may or may not be necessary to contact them).
    'Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it' - Albert Einstein.
  • ua8
    ua8 Posts: 29 Forumite
    First Post
    ua8 said:
    ua8 said:
    Hi, I've just opened Ahli United Bank (UK) 6.1% 1 year fixed says needs to be fully funded by 11.59pm on 31/10/23 so that gives me some time if anything better arrives and also lets me carry on bit longer with current easy access 

    my question is can I send any amount of deposits from now till 31/10/23 or would it need to be full in one deposit ?

    Thank you 
    Is this via Raisin? If so, you can send money to your Raisin holding account in several transactions. Once the holding account balance reaches what you told Raisin you were going to deposit with Ahli United Bank then the money will transfer automatically to Ahli United Bank.

    yes via Raisin, logged in and I see Raisin account: GBP 0.00 Im guessing if I deposit less what I told and it let it reach 31/10/23 I will just have option to widthdrew back and account get closed ? 
    Thank You

    guess its not locked in till you fully deposit 

    If at any time there is a reduction in the interest or expected profit rate on the fixed term savings account you have ordered within the Funding Window, we will inform you of this.
  • ua8
    ua8 Posts: 29 Forumite
    First Post
    ua8 said:
    ua8 said:
    Hi, I've just opened Ahli United Bank (UK) 6.1% 1 year fixed says needs to be fully funded by 11.59pm on 31/10/23 so that gives me some time if anything better arrives and also lets me carry on bit longer with current easy access 

    my question is can I send any amount of deposits from now till 31/10/23 or would it need to be full in one deposit ?

    Thank you 
    Is this via Raisin? If so, you can send money to your Raisin holding account in several transactions. Once the holding account balance reaches what you told Raisin you were going to deposit with Ahli United Bank then the money will transfer automatically to Ahli United Bank.

    yes via Raisin, logged in and I see Raisin account: GBP 0.00 Im guessing if I deposit less what I told and it let it reach 31/10/23 I will just have option to widthdrew back and account get closed ? 
    Thank You
    I've never done this (I have withdrawn matured fixed rate funds from my holding account, but not partial deposits). If you've added some funds to the holding account and then change your mind it would probably be best to message Raisin to cancel the Ahli United Bank account and then withdraw the funds (may or may not be necessary to contact them).
    not really big deal I was hoping to wait close to 31/10/23 and just fully depsosit but reading the rate isnt locked down till you fully deposit 

    decisions decisions 
  • ua8 said:
    ua8 said:
    ua8 said:
    Hi, I've just opened Ahli United Bank (UK) 6.1% 1 year fixed says needs to be fully funded by 11.59pm on 31/10/23 so that gives me some time if anything better arrives and also lets me carry on bit longer with current easy access 

    my question is can I send any amount of deposits from now till 31/10/23 or would it need to be full in one deposit ?

    Thank you 
    Is this via Raisin? If so, you can send money to your Raisin holding account in several transactions. Once the holding account balance reaches what you told Raisin you were going to deposit with Ahli United Bank then the money will transfer automatically to Ahli United Bank.

    yes via Raisin, logged in and I see Raisin account: GBP 0.00 Im guessing if I deposit less what I told and it let it reach 31/10/23 I will just have option to widthdrew back and account get closed ? 
    Thank You

    guess its not locked in till you fully deposit 

    If at any time there is a reduction in the interest or expected profit rate on the fixed term savings account you have ordered within the Funding Window, we will inform you of this.
    I opened an account via Raisin a few months ago and before I had transferred the funds they sent an email saying the rate I had signed up to had changed. They gave me the option to continue and fully fund the account within 5 business days (and receive the original rate) or for the account to be cancelled.
    'Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it' - Albert Einstein.
  • I guess what many of us want to know - and cannot know- is how much longer the NS&I deal will still be available. 

    Does anyone know/recall whether NS&I give any prior warning that a popular offer will be closing?

    I do already have a couple of such bonds, but I have 25k maturing with Charter Savings on 11th October, and the NSI bond is a natural place for that cash too. I think it's going to be a tight call if I just sit and wait; I might though be able to cobble together close to 25k for at least the three weeks or so before the Charter money comes through.

    Any views? (I'm sure there are!)
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