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What happens at maturity of my Fixed Rate Account?

POSTED: 31st October 2017
IN: Personal Savings FAQs
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We'll write to you a minimum of 21 calendar days before your account matures to explain your options and also send a further reminder by email 14 days before the maturity date. You can give us your maturity instructions in internet banking until two days before the maturity date. You can also give us your instructions by returning the maturity instructions form through the post.

If we don't hear from you by the maturity date, we'll move your money into another Fixed Rate Account of the same or closest similar term. You have 14 days from the maturity date in which you can change your mind.

If you ask for the maturity proceeds to be returned to your nominated account, these will be sent by Faster Payments on the maturity date (providing we receive your instructions online or in writing prior to the maturity date). In the event that the day of maturity is a non-business day, the funds will be sent on the next business day. You will receive interest until the day before the funds are returned. For example, if the day of maturity is a Saturday, you will receive interest until Sunday and funds will be returned on Monday (providing this isn’t a Bank Holiday).

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