What happens at the end of my fixed account?

Frequently asked questions

What happens at the end of the term of my fixed deposit bond?

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We will contact you around two weeks before your bond matures to ask what you would like us to do with the funds. You must provide us with confirmation if you wish your fixed term to be renewed.

If we don’t hear from you, we will automatically reinvest your deposit into a seven day instant access account. Following a maximum of four, seven day renewals (i.e. 28 days following the original maturity date), we will make a full repayment electronically to your nominated bank account.

For maturing ISA accounts, if we don’t hear from you, we will automatically reinvest your ISA deposit in an ISA Call Account.

As you may expect, the interest payable on these instant access accounts is quite low, currently just 0.10% Gross/AER. Clearly there are options available paying a higher rate of interest so please don’t delay in telling us what you would like to do when your deposit matures.

How do I give you my maturity instructions?

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If you have online banking, we will send an SMS notification to your registered mobile phone to advise that you will be able to provide maturity instructions online.

Alternatively, you can email us at [email protected] with the account name, account number, your postcode and the details of what you would like to do next.

My account is maturing. Why have I not heard from you?

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We will contact you around two weeks before your bond matures to ask what you would like us to do with the funds. If you haven’t heard from us by then, please contact us.

Can I top-up my investment?

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Fixed term accounts can be topped up at maturity only. We need to receive the top-up deposit from your nominated bank account at least one day before maturity.

If you have opened an account that allows additional deposits, such as a notice account, you can make transfers as you please from your nominated bank account up to the maximum balance allowed.

I have missed my maturity. What happens now?

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If we don’t hear from you, we will automatically reinvest your deposit into a seven day instant access account. Following a maximum of four, seven day renewals (i.e. 28 days following the original maturity date), we will make a full repayment electronically to your nominated bank account.

For maturing ISA accounts, if we don’t hear from you, we will automatically reinvest your ISA deposit in an ISA Call Account.

As you may expect, the interest payable on these instant access accounts is quite low, currently just 0.10% Gross/AER. Clearly there are options available paying a higher rate of interest so please don’t delay in telling us what you would like to do when your deposit matures.

Why have you have returned my investment?

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Most likely because you did not let us know what you wanted us to do with the funds within 28 days of the original maturity date.

If you would like to invest the funds now, please contact us.