Can one hold more than 1 Icesave Fixed account?

nilrem_2

Can one hold more than 1 Icesave Fixed account? Most institutions won't allow extra investments in to an existing Fixed rate but they will allow you to have more than one Fixed rate bond with them, I already hold a joint fixed rate with Icesave, does anyone know if they allow more than one?

I can't find any info on their site about this.

noh

Yes they do allow more than one. I currently have three.

Nigel

nilrem_2

noh wrote: »

Yes they do allow more than one. I currently have three.

Nigel

Thanks for that.

sloughflint

Am I correct in thinking that there is no facility at all to withdraw in an emergency unlike other establishments where you can but with a penalty?

Greycrow

sloughflint wrote: »

Am I correct in thinking that there is no facility at all to withdraw in an emergency unlike other establishments where you can but with a penalty?

Don't appear to be. This quote looks pretty inflexible. So only suitable if you're sure you won't need access to your funds during the fixed term.

"Once you have made your lump sum deposit no further deposits or withdrawals can be made during the fixed term."

However multiple accounts are allowed, as I've got three.

Paul_Herring

I've opened 2 yesterday, one 6 month and one 12 month. I intend to open more over the coming months when I get paid.

Am I correct in thinking that there is no facility at all to withdraw in an emergency unlike other establishments where you can but with a penalty?

I'm sure I saw something in the T&C's which allowed you to withdraw early (with penalty,) but there's no 'automated' way of doing it from the website.

noh

The T+Cs http://www.icesave.co.uk/media/terms_and_conditions.pdf say no early closure or withdrawal is permitted paragraph 5h and 6c.

Nigel

sloughflint

Thank you,Paul. After posting, I did see in the T&C that withdrawals aren't allowed. No good for me. I need that safety of knowing that funds can be accessed.
Halifax may be a reasonable alternative if I can get them to quickly rectify their address records to enable an online application.