Skipton Member BonusSaver 1A bonus ending

where_are_we

My Skipton Member Bonus Saver 1A interest rate has a bonus of 1.7% added which ends after 12 months.

This will mean a reduction from 5% to 3.3% on 13/1/25. My annual interest will be added on 11/1/25

Maximum balance is £3000 which means once the interest is added I will exceed this maximum balance.

Obviously 3.3% is poor and I will not be taking them up on continuing to save into this account.

I have decided the best option is to close the account and withdraw £3000 plus interest.

I have other Skipton accounts so do not need to keep this one going to remain a member.

xylophone

I shall close the Bonus Saver when the bonus rate  ends next week but will keep ISA.

SeriousHoax

My member bonus Saver issue 1 £3000 5% ends on 11/01/2025 

[Deleted User]

I will look on the Skipton site/app and see what the options are, there is an EA tracker I have, its not the very best but it should do. I've got quite a few limited access accounts which added together means I should be ok to withdraw whatever funds I require at least once a month.

intalex

An email I received from Skipton says the rate on my bonus saver 1A drops from midnight on 13th January, so presumably that means I can transfer out (to my base rate tracker) some time on Monday 13th?

mebu60

intalex said:

An email I received from Skipton says the rate on my bonus saver 1A drops from midnight on 13th January, so presumably that means I can transfer out (to my base rate tracker) some time on Monday 13th?

That's what I plan to do too, i.e. transfer out on Monday 13th. But elsewhere. My Skipton BRT is just a feeder to Member Regular Saver Issue 3 currently. 

intalex

Had my anniversary interest credited this morning (with yesterday's date) with the rate still showing as 5.00%, tried to close and transfer (internally to my Skipton BRT) right away but alerted me it would be completed tomorrow (working day) with an extra day's interest at the same 5.00% added in.

SeriousHoax

I transferred my Bonus Saver 1A to my Skipton Base Rate Tracker.

poolboy

Thanks for heads up mine matures today, shame it can't be rolled over into another competitive skipton product but they know what they are doing.