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The Top Regular Savers Discussion Thread
Comments
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I have it in writing (or rather in their welcome message on my account) that you can make a withdrawal in January and not lose the bonus.
"In January you will be able to make a withdrawal and still be eligible for the bonus at the end of the following year." (December 2027)
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Very unclear. Italics are mine
"In January (2027) you will be able to make a withdrawal and still be eligible for the bonus at the end of the following year." (ie 2028)
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Timeline:
31 Dec 2026 5.5% interest on max £3000
Jan 2007 Can withdraw
31 Dec 2027 5.5% interest on 2026 deposit + max £6000 if no withdrawals made after Jan 2027
Jan 2028 Can withdraw
And so on
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If you're talking about Beverley, you need to fund it within 7 days of opening
I consider myself to be a male feminist. Is that allowed?0 -
That's not supported by the response you've received. The response says nothing about being eligible for the bonus in the same year as you make the January withdrawal. I would be asking that specific question if I wanted clarity. The fact they mention the following year but not the year of the withdrawal sort of implies the withdrawal has the same consequences as if it were made any other time during that year.
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It should be fine. I can't imagine a 'fraud team' blocking the money coming in. The phone calls faff people are experiencing is about making payments from their current accounts.
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I think 'following' here is being used to mean 'next', as in December 2027, not 2028. Otherwise they'd be sitting on your money and interest for 2 years, like a sort of bond. Which doesn't fit with releasing it after the first 6 months at the beginning.
I'm ringing them tomorrow, as not receiving their codes on my phone, so I'll ask them what 'following' means.
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Following does mean next, but they didn't pair it with "December", they paired it with "year". Next year comes after next December; and the end of next year pushes it out to almost 2 years from the relevant January.
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Yeah, Joseph1215's reading was my initial reading, then the alternative. January is just an illustration I suspect, and would lead to the fewest complaints from disgruntled customers in that if a large chunk had been taken out in January, there would be less money to lose the bonus on. Making a large withdrawal in December and getting 1% on money that had been in from January until December would be worse.
Of course it would help if they updated their T and C and/or welcome letter with a worked example, e.g. if you withdraw in January 2027 you will be eligible for the bonus in December 2028 (or 2027, whichever applies.) Then there would be no ambiguity, which as it stands might just be storing up complaints for later.
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Email them, or secure message. That way you've got it in writing. I wouldn't rely on verbal communication, as that then relies on 'he said, she said' and people's memories.
I consider myself to be a male feminist. Is that allowed?1
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