How does my 35 or 90 day notice account work?
08 October 2014
We currently offer two types of notice account depending on how quickly you need to access your funds, 35 days or 90 days.
The notice account is designed to give you a good return with access should you need it.
The way it works is very simple; your notice account accrues interest on a daily basis and it has no maturity date or term. The interest rate is variable, which means it is subject to change without notice. You can add additional funds to a notice account at any time.
If you need to withdraw funds or close the account, you just need to give us 35 or 90 days notice by giving us a call and then we will make those funds available in 35 or 90 days time. We’ll confirm the date that your funds are available on the phone.
If you decide that you don’t require the funds anymore, then you don’t need to provide us with any instructions, just let the notice period lapse.
If you do need access to the funds then you will need to provide us with a written instruction of where to pay the funds away to or you can complete one of our withdrawal forms, print it and send it to our address and when we receive it we’ll diarise this for the end of the notice period.
Once the payment is made we will send you, by post, a transaction advice for confirmation.
If you can’t wait 35 or 90 days, you can access the funds immediately, subject to a loss of either 35 or 90 days interest, depending on which type you have.
Notice of withdrawal cannot run concurrently.
For further details of our rates, please click here.