1st Direct regular saver maturity

NotRichAtAll

Hi everyone, hope your all well.
I have a question re 1st direct regular saver, mine has matured the last few days and i have my interest.
I have one first account which funded the save and i have the save account, my problem is noo matter how hard i look i cannot find an option to move the cash out of the save account nor can i find an option to close the save account, this is all in their ios app.
what do i need to do to get my cash out, am i missing something

thanks

Nasqueron

I leave my FD money in the savings account (monthly payment of 2% interest is a decent enough holding place, obviously better options) - click on the + button bottom right in Android -> Move Money -> Existing UK payees and my accounts, select account and then chose the amount

I normally move £300 a month from the saver into the current account to feed the saver which pulls by standing order

NotRichAtAll

Nasqueron said:

I leave my FD money in the savings account (monthly payment of 2% interest is a decent enough holding place, obviously better options) - click on the + button bottom right in Android -> Move Money -> Existing UK payees and my accounts, select account and then chose the amount

I normally move £300 a month from the saver into the current account to feed the saver which pulls by standing order

Thanks, thats where my problem starts i can find no option to move the money from the save to any current account including the account that fed it

prettyandfluffy

If it's only just matured, it takes a few days (WHY??!) before you can access the funds.  Note that that means working days, too.  Log in on a daily basis and you should find that the options to transfer in the usual way become visible, if not then give them a call.

NotRichAtAll

Yup i just discovered that, everything says its no longer regular and is a new account. Just me been impatient.
thanks for the replies

boingy

My recent one got "stuck" for over a week. The interest appeared and the interest rate changed to 2% but the account stayed named as a regular saver so I could not transfer the money or open a new regular saver. In the end I got on the chat and the chap instantly transferred the money into my current account and told me he had "restarted" the maturity process but could not explain why it had stalled. A couple of days later the account was a normal savings account with nothing in it and I was able to open a new regular saver. I can't help but think they could streamline that whole process though. It's also a bit weird that the normal saver account retains the sort code and account number of the regular saver because they have just changed its name/type. 

subjecttocontract

Held up for a week means the most you're gonna loose is around £3.50 in interest (2% ilo 7%).

boingy

subjecttocontract said:

Held up for a week means the most you're gonna loose is around £3.50 in interest (2% ilo 7%).

It's not even that because I can't put the whole lot into a 7% account. 5.22% is the best EA I currently have.

It just seems an odd way of doing things when most folks probably want to do the 7% regular saver for another 12 months, because it's still available They should consider giving us an option to transfer the money out on the anniversary and to start another 12 month savings period in the same account. Instead they wait a week or so, convert the account into a standard savings account then make you open a whole new account with a different account number. It's extra admin for the same result and now I have an empty normal savings account sitting around. I could close it but they'll give me another one in 12 months. It's not ruining my life, it just seems very inefficient.

EarthBoy

boingy said:

It just seems an odd way of doing things when most folks probably want to do the 7% regular saver for another 12 months, because it's still available They should consider giving us an option to transfer the money out on the anniversary and to start another 12 month savings period in the same account. Instead they wait a week or so, convert the account into a standard savings account then make you open a whole new account with a different account number. It's extra admin for the same result and now I have an empty normal savings account sitting around. I could close it but they'll give me another one in 12 months. It's not ruining my life, it just seems very inefficient.

From previous reports on this forum, the maturity process is quicker if you already have an ordinary FD saving account.  If you do, FD will transfer the balance to that savings account and close the Regular Saver, instead of converting the Regular Saver to a new savings account.  This only takes a couple of days, instead of a week.  So, don't close the normal savings account; leave it open and FD will transfer the matured Regular Saver funds into it next year.

Bigwheels1111

Very simple thing to do, ring and complain.
I did when the held 3 very large sums from Friday until Monday, 

I told them on Friday I wanted to speak to Fraud team, they said nothing was being held by fraud team.
On Monday while on the phone to FD, a text came in, we have been trying to contact you the fraud team.
A blatant lie.
Any way, I got £130 interest they owed me for 5 days at 5%, and £50 good will gesture.

FD bonus savings account is 4%.

CuriousGirl

NotRichAtAll said:

Hi everyone, hope your all well.
I have a question re 1st direct regular saver, mine has matured the last few days and i have my interest.
I have one first account which funded the save and i have the save account, my problem is noo matter how hard i look i cannot find an option to move the cash out of the save account nor can i find an option to close the save account, this is all in their ios app.
what do i need to do to get my cash out, am i missing something

thanks

You cannot do it yourself. Contact them via online chat and they will do it for you in a sec.