Icesave - Unable to top up fixed rate accounts

Swipe

I opened a 2 year fixed rate account with Icesave a couple of weeks ago with £2000 from my easy access Icesave account. I was hoping to add some money to the account but have just discovered that this is not possible. I wasn't aware of this. It looks like I'll have to open a 1 year fixed rate account once my funds have cleared into my easy access account.

So just a quick warning to anyone thinking of opening one. Make sure you open it with the maximum balance you intend to put in as once it is opened you can't add to it.

EDIT: It seems you can just create a new account instead

Primrose

I wasn't aware of this as some providers do allow you to top up funds in a Fixed Rate Bond as long as it hasn't been withdrawn so thanks for pointing it out. However, taking out an additional bond with them is no trouble. It's just the inconvenience of having them mature on different dates.

Lavendyr

It does state quite clearly on the information page:
All you need to know about the Icesave Fixed Rate Savings Account:

• High fixed interest rate - up to 6.76% AER*
• Save a lump sum for 6 months, 1, 2 or 3 years
• Interest rate fixed for the term of the account
• Choose when you receive your interest
• Save from just £1,000
• No withdrawals or additional deposits can be made during the term

(http://www.icesave.co.uk/fixed-rate-savings.html)

I think they make it clear enough personally, but these things can be missed.

Paul_Herring

What they don't make clear enough though Lavendyr is that you can just open another bond. I have one 6 month, and three 1 year bonds, all of which will mature on different dates.

They don't stop you opening new ones, just adding money to currently existing ones.