Maturity Options

Digital_Payback

I have a couple of Reg. Savers maturing in Sept. and Oct. with Beehive Money and Tipton. 

I’d like to keep some access to both societies, leaving a few £s in place, without tying down my money with them in a bond or ISA. 
Can anyone enlighten me as to what kind of options are usually offered on maturity?
Thanks.  

Catplan

Recent Beehive RS matured to Easy access 4 account, you need to leave £10 in here, can move to other beehive account or nominated account. My matured funds went into the 5.2 limited issue account for now. You can keep £10 in the Easy access 4 account to maintain relationship. 

Digital_Payback

Catplan said:

Recent Beehive RS matured to Easy access 4 account, you need to leave £10 in here, can move to other beehive account or nominated account. My matured funds went into the 5.2 limited issue account for now. You can keep £10 in the Easy access 4 account to maintain relationship. 

Thank you, Catplan. Just what I wanted to know. Beehive is the first to mature, so I will leave £10 in the easy access. I’m sure the interest rate will be miserable though!!

That limited issue acc. that you funded, is it a special acc. at a good interest rate for maturing accounts or is it available generally?
Thanks again for the info. 

Catplan

Digital_Payback said:

Catplan said:

Recent Beehive RS matured to Easy access 4 account, you need to leave £10 in here, can move to other beehive account or nominated account. My matured funds went into the 5.2 limited issue account for now. You can keep £10 in the Easy access 4 account to maintain relationship. 

Thank you, Catplan. Just what I wanted to know. Beehive is the first to mature, so I will leave £10 in the easy access. I’m sure the interest rate will be miserable though!!

That limited issue acc. that you funded, is it a special acc. at a good interest rate for maturing accounts or is it available generally?
Thanks again for the info. 

Yeah the 5.2 one is no longer available the easy access it matures is 2.65%, I think the best I could find with them currentlyy available is fixed term 1 year bond at 4.9.

I’m hoping they do a decent regular saver for UK savings week again.

Digital_Payback

Catplan said:

Digital_Payback said:

Catplan said:

Recent Beehive RS matured to Easy access 4 account, you need to leave £10 in here, can move to other beehive account or nominated account. My matured funds went into the 5.2 limited issue account for now. You can keep £10 in the Easy access 4 account to maintain relationship. 

Yeah the 5.2 one is no longer available the easy access it matures is 2.65%, I think the best I could find with them currentlyy available is fixed term 1 year bond at 4.9.

I’m hoping they do a decent regular saver for UK savings week again.

Tipton’s available accounts seem poor enough. 

Agree with you. Like you, I hope there’s a ‘special’ RS for UK Savings Week. Hope they are reading this!

We can live in hope! 😀😀
Thanks again. 

Gers

My Monmouthshire BS RS accounts mature soon. Got a letter about the (not good) options. To close and receive the funds they will sent a cheque or need in the passbook and copy of bank statement plus a form to be completed. I don't understand why the funds can't be sent over to my nominated bank account they have on their system and from which all the monies have come from.

I will phone them later.

PloughmansLunch

Gers said:

My Monmouthshire BS RS accounts mature soon. Got a letter about the (not good) options. To close and receive the funds they will sent a cheque or need in the passbook and copy of bank statement plus a form to be completed. I don't understand why the funds can't be sent over to my nominated bank account they have on their system and from which all the monies have come from.

I will phone them later.

I haven't had any letters yet, but I thought the T&Cs said the RSes convert into Easy Access accounts on maturity? Cheque/passbook shenanigans will be a complete pain as I'm away for a couple of weeks at maturity point.

Gers

PloughmansLunch said:

Gers said:

My Monmouthshire BS RS accounts mature soon. Got a letter about the (not good) options. To close and receive the funds they will sent a cheque or need in the passbook and copy of bank statement plus a form to be completed. I don't understand why the funds can't be sent over to my nominated bank account they have on their system and from which all the monies have come from.

I will phone them later.

I haven't had any letters yet, but I thought the T&Cs said the RSes convert into Easy Access accounts on maturity? Cheque/passbook shenanigans will be a complete pain as I'm away for a couple of weeks at maturity point.

You're correct! Shame on me for not reading the letter properly. I've phoned, got a very friendly and helpful agent who has arranged to cancel my previous instructions.  Thanks for the prompt.

gt94sss2

Gers said:

My Monmouthshire BS RS accounts mature soon. Got a letter about the (not good) options. To close and receive the funds they will sent a cheque or need in the passbook and copy of bank statement plus a form to be completed. I don't understand why the funds can't be sent over to my nominated bank account they have on their system and from which all the monies have come from.

I will phone them later.

You can do it online using the website address/security details and/or QR code included in the maturity letter. 

No need to send the passbook back