HSBC and First Direct Regular Savers - Closing statements and annual interest statements?

boco803

Just wondered - as per title really.

Does anyone else have issues with receiving closing statements from HSBC / FD once their regular saver matures?

I think FD sometimes send hard copy statements via post but I don't recall a HSBC account statement which has recently matured?

From memory, I don't ever recall electronic statements being available - unless I'm missing a setting or something?

Do I need to set statement preferences every time I open a new RS account?

And do you receive annual interest statements?

Thanks in advance for sharing your experiences.

Bigwheels1111

I think I get a hard copy from FD.
Not to bothered as I keep exact records of every interest payment I receive form 40 plus accounts.
Ready for self assessment every April.
Which is lucky as Principality do not send them.

oddcueball52

FD user here, I receive the paper statement via post after the maturity of regular saver showing the 12 monthly deposits and interests gained. 

You can get on the web chat and request copies of statement or interest certificate sent to you via post.

masonic

There isn't really any need to get a separate annual interest statement as both accounts make a single payment of interest at maturity, so that would be the figure to use. I always get a hard copy statement from FD when the account is closed. I think I did from HSBC too when the account was attractive enough for me to hold it.

GalacticaActual

I’ve had four regular savers with HSBC over the years and received a statement after six months for each. However, I have never received a closing statement upon maturity. Perhaps it’s because I opted for electronic communication and statements rather than postal ones. The regular savers disappear from the app and online banking a day or two before maturity.


From the maturity letters:

Two days before it matures, you won't be able to see your Regular Saver via Online Banking. This

is so no more transactions can be made until after the account matures.

boco803

Thanks for the replies everyone.

Might have to keep an eye out for my recently matured HSBC RS.  Think FD is fine, but strange they don't just send an electronic copy to your inbox.  Might have to check my settings.

Not overly bothered, but a certificate of interest will be nice to have.  If I ever have to prove it to HMRC, I'll just show the maturing figure less the max. 12 monthly payments respectively for FD / HSBC.

Another institution who could improve is Nationwide - they seem to only hold 13 months max with no ability to download transactions to CSV going back 5 - 6 years? 

gt94sss2

Both HSBC and First Direct send paper statements (unless you opt for paperless) including at maturity.

They also send certificates of interest on request.