Northern Rock,new account.

tabbycat2k

Whilst there is a lot of talk about unlimited government backed protection, the terms and conditions talk about 100% up to £35,000. Is there any written information anywhere about protection to an unlimited amount for new investors?

Steve_xx

tabbycat2k wrote: »

Whilst there is a lot of talk about unlimited government backed protection, the terms and conditions talk about 100% up to £35,000. Is there any written information anywhere about protection to an unlimited amount for new investors?

The UK government is guaranteeing 100% of all deposits, new and old, in Northern Rock accounts for the duration of the current uncertainty in the financial markets. The UK government has, as yet, set no date for this guarantee to end.

Wolf_Man

They just sent my cheque back!!! They said that my address appears to be a business premises.

This has never happened to me before.

I called up to complain and to explain that whilst I do run a small business from my home, I also live there!

The customer services chap checked with the department that sent my cheque back and said that it was now ok and if I sent a letter explaining this with my cheque they would back date the bond to my original sending date.

I will let you know if they do this......

Beate

sho_me_da_money wrote: »

So how much can you add to the account?

Does this account allow me to add an unlimited amount of fund up until Jan 2009 or is it limited to a certain date?

Thanks

The maximum amount is £2million, and you can add until the bond is officially withdrawn. Savings Dave, great minds think alike! The money in my A&L Direct Saver is also earmarked for withdrawal on 1 Feb, but I am going to transfer it by internet banking, as I got all my account details when I opened the bond in branch.

Savings_Dave

Beate wrote: »

Savings Dave, great minds think alike! The money in my A&L Direct Saver is also earmarked for withdrawal on 1 Feb, but I am going to transfer it by internet banking, as I got all my account details when I opened the bond in branch.

Indeed they do Beate!...although my nearest NR branch is 20+ miles away so postal only for me.

Anyway I have just under £3,700 for the NR Bond (nice timing for my 2009/2010 ISA as well) and the other £5,000 for an NS&I Index Linked Certificate. What with possible IR drops I dare not leave that money in my DS any longer...:rolleyes:

gelato_cat

Hi all

I'm very interested in this! I will probably apply, but before I do, can anyone tell me whom the cheque should be made payable to please? Just trying to work out if and where I'll need to shift my money to, to get it to a place where I can then move it to NR.

Suze

RayWolfe

Northern Rock A/C "your name".

Joy_Dean

Thank you again.

I posted my application and cheque on Monday, and received the certificate today.

Beate

Suzey wrote: »

Hi all

I'm very interested in this! I will probably apply, but before I do, can anyone tell me whom the cheque should be made payable to please? Just trying to work out if and where I'll need to shift my money to, to get it to a place where I can then move it to NR.

Suze

All relevant information is here:
http://www.northernrock.co.uk/savings/fixed-rate-access-bonds/how-it-works/

Your opening deposit can be by:

• cash (branch only*)
• cheque (In the interest of security, please make your cheque payable to ‘Northern Rock, for the account of [insert Account Holder(s) name(s)]’ and crossed ‘A/c Payee Only’)
• transfer from an existing Northern Rock Account (withdrawal restrictions relating to your existing Account will apply to this opening transfer or any additional transfer).

frivolous_fay

Opened my account in branch today.

While I was there, a member of staff told a customer that she thought the account would remain available until the BoE announce the interest rates.

May be nonsense, may be not.