BoS monthly saver, when can I open another account?

ToastLady

allegro120 said:

ToastLady said:

My Halifax RS matured on 15th March. The RS changed to an Instant Saver, because I had closed the one which Halifax opened when I opened the account. I had thought to continue it, but instead have put full amount into Oxbury 120 day notice account at 5.53% for now. 

I kept my Halifax RS and will keep depositing on the 1st of every month.  The reason for it is that it is 5.5% fixed and I doubt that we will see the rates rising within next 12 months, rather opposite. I'm also feeding Oxbury, both 90 and 120, from my scheduled withdrawals from 95d RCI and 90d Mansfield tracker.  I tend to have different pots and strategies for different types of accounts.  Oxbury 90d and 120d are great at this time, but the rates are variable, I schedule weekly withdrawals for notice accounts and cancel them until they turn uncompetitive. 

Yes I see what you are saying and realise that the RS is fixed. I may well open another one, just haven't decided as yet.
The notice to be given for the Oxbury account if they change the interest rate is quite long. I received an email I think yesterday from them, saying that their terms had been updated, so for mine 2 months + 120 days notice of rate change which is not too shabby.

Copied from their new terms:-

If you have a Notice Account with a notice period

of more than 2 months, the notice we will give you

will be 2 months plus the length of your notice

period. This is to make sure you have time to close

your account if you're not happy with the change.

allegro120

ToastLady said:

allegro120 said:

ToastLady said:

My Halifax RS matured on 15th March. The RS changed to an Instant Saver, because I had closed the one which Halifax opened when I opened the account. I had thought to continue it, but instead have put full amount into Oxbury 120 day notice account at 5.53% for now. 

I kept my Halifax RS and will keep depositing on the 1st of every month.  The reason for it is that it is 5.5% fixed and I doubt that we will see the rates rising within next 12 months, rather opposite. I'm also feeding Oxbury, both 90 and 120, from my scheduled withdrawals from 95d RCI and 90d Mansfield tracker.  I tend to have different pots and strategies for different types of accounts.  Oxbury 90d and 120d are great at this time, but the rates are variable, I schedule weekly withdrawals for notice accounts and cancel them until they turn uncompetitive. 

Yes I see what you are saying and realise that the RS is fixed. I may well open another one, just haven't decided as yet.
The notice to be given for the Oxbury account if they change the interest rate is quite long. I received an email I think yesterday from them, saying that their terms had been updated, so for mine 2 months + 120 days notice of rate change which is not too shabby.

Copied from their new terms:-

If you have a Notice Account with a notice period

of more than 2 months, the notice we will give you

will be 2 months plus the length of your notice

period. This is to make sure you have time to close

your account if you're not happy with the change.

I didn't receive this e-mail, but it is good to know that they've extended from 14 days to two months + notice period.  I'm new to Oxbury, started 4 months ago with 6.01% 1 year fixed. Like it so far - deposits arrive immediately, the app is good and notice accounts are currently at the top of the table, get text and email notifications confirming all transactions.    

friolento

jameseonline said:

You going to have to wait until the current one finishes, then should be fine to open a new one the day after, if not get in contact with them.
 

You can force-finish the current one by renewing iir it into an easy access saver. Might involve logging out and logging in to see the results but works evert time 

soulsaver

allegro120 said:

ToastLady said:

allegro120 said:

ToastLady said:

My Halifax RS matured on 15th March. The RS changed to an Instant Saver, because I had closed the one which Halifax opened when I opened the account. I had thought to continue it, but instead have put full amount into Oxbury 120 day notice account at 5.53% for now. 

I kept my Halifax RS and will keep depositing on the 1st of every month.  The reason for it is that it is 5.5% fixed and I doubt that we will see the rates rising within next 12 months, rather opposite. I'm also feeding Oxbury, both 90 and 120, from my scheduled withdrawals from 95d RCI and 90d Mansfield tracker.  I tend to have different pots and strategies for different types of accounts.  Oxbury 90d and 120d are great at this time, but the rates are variable, I schedule weekly withdrawals for notice accounts and cancel them until they turn uncompetitive. 

Yes I see what you are saying and realise that the RS is fixed. I may well open another one, just haven't decided as yet.
The notice to be given for the Oxbury account if they change the interest rate is quite long. I received an email I think yesterday from them, saying that their terms had been updated, so for mine 2 months + 120 days notice of rate change which is not too shabby.

Copied from their new terms:-

If you have a Notice Account with a notice period

of more than 2 months, the notice we will give you

will be 2 months plus the length of your notice

period. This is to make sure you have time to close

your account if you're not happy with the change.

I didn't receive this e-mail, but it is good to know that they've extended from 14 days to two months + notice period.  I'm new to Oxbury, started 4 months ago with 6.01% 1 year fixed. Like it so far - deposits arrive immediately, the app is good and notice accounts are currently at the top of the table, get text and email notifications confirming all transactions.    

It wasn't in an email per se for me, it was a change of terms email. If you then read the changed terms, it was there, or at least that was how I found it. But Not sure it refers to interest rate reductions, though..

If applying the current terms still state: 
Oxbury can make changes to your interest rate, any such changes will be communicated to you providing at least 14 calendar days’ notice in addition to any notice period for a reduction in rate, increases in rates are usually applied with immediate effect.