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I have some further information regarding this account, after speaking with a member of staff from Leeds Building Society this evening.
The lady I spoke to told me that the account closes on 31 Jan 2019, and that the maximum balance can be £7250, plus any accrued interest.
Interestingly, she said that whatever the balance is now, that it is possible to add to it to bring the total balance up to £7250 plus accrued interest, so no need to drip feed this one any longer.
That's an interesting interpretation of the letter I received dated 24/7/18.
Especially the extract starting 'You can therefore'.0 -
veryintrigued wrote: »That's an interesting interpretation of the letter I received dated 24/7/18.
Especially the extract starting 'You can therefore'.
No. It is not an interpretation of the letter dated 24 July 2018. It is an interpretation of the discussion I had this evening, when the lady clearly said that I was free to immediately top-up the balance to £7250!
You may wish to speak to them yourself? If you do, it would be interesting to note whether you are offered like information.0 -
No. It is not an interpretation of the letter dated 24 July 2018. It is an interpretation of the discussion I had this evening, when the lady clearly said that I was free to immediately top-up the balance to £7250!
Yep - I got that from your post which I appreciate.
You may wish to speak to them yourself? If you do, it would be interesting to note whether you are offered like information.
Yep that's the plan later today.
If it is possible it'll be good but also disappointing it's not been officially communicated to us before now.0 -
More or less right. I spoke to somebody at Leeds BS on 30 October about this account. Yes it pays 2.55%, but the guy told me that the maximum account balance allowed for paying interest had been pushed to £7500.
He also informed me that this account would be closing in January 2019.
In light of this information I amended my Standing Order to continue paying into it until January next.
So you can make a deposit in February 2019 as well now? There hasn't been any written confirmation increasing it from 7250 to 7500? It can't be closing for deposits in Jan 19 with a max. balance of 7500. It's impossible. Unless they are allowing a £500 deposit for January, or one extra deposit of £250 in February. I opened mine in September 2016, the month it launched, and my balance will be £7250, plus two previous interest payments with the final February 1st interest payment.
I don't think the bank clerk had his facts right when he or she said this to you.0 -
So you can make a deposit in February 2019 as well now? There hasn't been any written confirmation increasing it from 7250 to 7500? It can't be closing for deposits in Jan 19 with a max. balance of 7500. It's impossible. Unless they are allowing a £500 deposit for January, or one extra deposit of £250 in February. I opened mine in September 2016, the month it launched, and my balance will be £7250, plus two previous interest payments with the final February 1st interest payment.
I don't think the bank clerk had his facts right when he or she said this to you.
Yesterday the lady told me that it closed on 31 Jan 2019, so I guess no deposit could be made in February.
You're right there has been no written confirmation that the balance has increased from £7250 to £7500. It hasn't according to the lady. It is £7250.
According to the conversation of yesterday it is possible to add funds now to top it upto £7250 - without drip feeding between now and January 31st.
You may well be right in your assertion about the bank clerk being incorrect. However, it was definitely a lady!
I suggest that you may wish call them if you wish to reiterate.0 -
Leeds BS - Regular Saver Issue 4
I've just this minute had another telecon with a lady from Leeds BS.
Not quite the same as I was told yesterday. So here goes for todays version:
1. The maximum balance on the account is £7250 excluding interest.
2. The maximum balance on the account is £7500 including interest.
3. The end date for the account is 31 Jan 2019 and you can make deposits until then.
4. You can make a single deposit now to bring your account balance upto (1) above, ensuring that you do npt breach (2) above!
5. She confirmed that whilst the July letter did make mention of the £7250 balance, that it did not make mention of the ability to make a one deposit to top the account upto that amount.0 -
The same lady? Or a different one?
0 -
Leeds BS - Regular Saver Issue 4
I've just this minute had another telecon with a lady from Leeds BS.
Not quite the same as I was told yesterday. So here goes for todays version:
1. The maximum balance on the account is £7250 excluding interest.
2. The maximum balance on the account is £7500 including interest.
3. The end date for the account is 31 Jan 2019 and you can make deposits until then.
4. You can make a single deposit now to bring your account balance upto (1) above, ensuring that you do npt breach (2) above!
5. She confirmed that whilst the July letter did make mention of the £7250 balance, that it did not make mention of the ability to make a one deposit to top the account upto that amount.
Thank you
I've sent a secure message to clarify and to call back on just in case it goes awry.
Will post in here the response0 -
Leeds BS - Regular Saver Issue 4
I've just this minute had another telecon with a lady from Leeds BS.
Not quite the same as I was told yesterday. So here goes for todays version:
1. The maximum balance on the account is £7250 excluding interest.
2. The maximum balance on the account is £7500 including interest.
3. The end date for the account is 31 Jan 2019 and you can make deposits until then.
4. You can make a single deposit now to bring your account balance upto (1) above, ensuring that you do npt breach (2) above!
5. She confirmed that whilst the July letter did make mention of the £7250 balance, that it did not make mention of the ability to make a one deposit to top the account upto that amount.
I have a feeling that the final interest payment would take my total balance of deposits and interest over £7500? I've already had about £150 from this August and last August. That means on 31 January my balance will be about £7400, without the final interest payment which will be more than £100 (I got £110 in August on £6000).
Unless they will imprest the balance automatically to £7500 and not pay out the bit above that would have been applied had there not been a cap imposed?
***Ignore this post. Will post another***0 -
Leeds BS - Regular Saver Issue 4
I've just this minute had another telecon with a lady from Leeds BS.
Not quite the same as I was told yesterday. So here goes for todays version:
1. The maximum balance on the account is £7250 excluding interest.
2. The maximum balance on the account is £7500 including interest.
3. The end date for the account is 31 Jan 2019 and you can make deposits until then.
4. You can make a single deposit now to bring your account balance upto (1) above, ensuring that you do npt breach (2) above!
5. She confirmed that whilst the July letter did make mention of the £7250 balance, that it did not make mention of the ability to make a one deposit to top the account upto that amount.
So are you saying that I can make up my balance to make in £7250 in December instead of £250 in December and another £250 in January?0
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