Switching to Barclays, but what happens to my Fixed Bond?

AyJaydee

Finally, Barclays Bank offer a switching bonus, which I want to take advantage of.
However, with the bank that I am currently with, TSB, I have a 1-Year Fixed Bond which does not mature until Sept 2024. It earns me 5.7% interest, which is better than Barclays 5.35%.

I have looked through TSB's terms regarding the Bond, I needed to have their current account (Spend and Save) to get the Bond, but nothing is said about maintaining it?

So my question is, can I switch current accounts from TSB to Barclays, but leave the Fixed Bond with TSB?  Or would TSB insist on my closing the Fixed Bond account?  (Naturally, I don't want to ask them)

Thank you

retiredbanker1

I would say yes you can - the CASS does not switch any savings accounts (other than Cash ISA).

The problem you may have on maturity is how to withdraw the funds from the Bond?
If you have no other TSB account where will they put the money?

Might be an idea to open a simple fee free current account with TSB once your transfer has gone through.