Northern Rock,new account.

Beate

I just phoned them and they said that if you have a bond already you should be able to still deposit for a few more days. He advised me to phone again on Monday morning at 9am so if you can deposit today, then by all means, do it quickly!!!

molly_mandy_2

Why is everybody getting so panicky?

A few weeks ago the N. Rock threads were "Quick! Quick! Get your money OUT of Northern Rock".

This week it's been "Quick! Quick! get your money IN Northern Rock".

Stop panicking ! There will be other bonds / savings accounts.

Beate

I am going bonkers here. Just spoke to my NR branch and they said the funds must be CLEARED by close of business Monday, i.e. neither cheque nor BACS would work, you would have to ask your bank to do a telegraphic transfer which could cost up to £35, depending on your bank. That would wipe quite a bit off the interest payments! Darn, what do I do... Does anyone else have different info?

mary

I've just rung Head Office again, same info given as before, do it today, they will see that it was opened with £1, with a view to more going in. Leave today, arrive Tuesday. Have taken the name of the lady I spoke to, plus date and time, and she is in Newcastle, so I have a comeback if it goes pearshaped.

Steve_xx

molly_mandy wrote: »

Why is everybody getting so panicky?

A few weeks ago the N. Rock threads were "Quick! Quick! Get your money OUT of Northern Rock".

This week it's been "Quick! Quick! get your money IN Northern Rock".

Stop panicking ! There will be other bonds / savings accounts.

Yes, but the problem is that the interest rates on newer accounts are falling due to the likelihood of UK base rates being cut.

The real problem is the amount of time it takes to move monies from bank to bank. Hopefully, this issue is soon to be addressed so that cash moves can be completed online in a matter of hours rather than the several days it currently takes.

knights

My bond has been opened, initial cheque sent 24th Jan, cleared from bank account 29th Jan, no acc Number yet, they say it has been posted to me but as yet not received therefore cannot transfer money.

regards

merlinthehappypig

Beate wrote: »

I am going bonkers here. Just spoke to my NR branch and they said the funds must be CLEARED by close of business Monday, i.e. neither cheque nor BACS would work, you would have to ask your bank to do a telegraphic transfer which could cost up to £35, depending on your bank. That would wipe quite a bit off the interest payments! Darn, what do I do... Does anyone else have different info?

Depends on how much you are transferring.

Sainsburys charged £18 for the CHAPS transfer which is instant, so no loss of interest. A BACS transfer from Sainsburys today wouldn't be in the account until Wednesday so that's 5 days interest gone.

By my calculations anything over £21900 going from Sainsburys going to the new account covers the CHAPS fee. That doesn't include the 5 days extra interest at 6.9% either.

It's all relative.;)

merlinthehappypig

knights wrote: »

My bond has been opened, initial cheque sent 24th Jan, cleared from bank account 29th Jan, no acc Number yet, they say it has been posted to me but as yet not received therefore cannot transfer money.

regards

Ring them up.

I haven't had my paperwork either, but rang them and they gave me the account reference over the phone.

They don't normally do this, but as the account is closing they made an exception.

mary

knights wrote: »

My bond has been opened, initial cheque sent 24th Jan, cleared from bank account 29th Jan, no acc Number yet, they say it has been posted to me but as yet not received therefore cannot transfer money.

regards

Why don't you try asking them on the phone for the account no.? Nothing to lose at this point.

BenL

Someone metioned earlier on the thread that this was listed as Issue 1.

We may get another issue within the next few weeks, although it maybe a little lower on the interest rate.

If my paperwork is back tonight I may add to my deposit via BACS.

Whats the worst that can happen, it gets rejected back to my current account.

Hopefully it will sneak through automated methods with no-one noticing.