When does my fixed term savings account mature and which account will you deposit the funds into?
About two weeks before your fixed term is due to end, we'll send you a pack with information about what happens next, to help you decide whether you want to reinvest into another Fixed Term Savings Account or opt-out.
At the end of the term, we'll automatically reinvest your money and any remaining interest into a new Fixed Term Savings Account unless you tell us you want to opt-out. Your pack will include the instructions on how to do this.
If you decide to let your Fixed Term Savings Account automatically reinvest, here's what will happen next:
- The day after your existing term ends you can add or withdraw funds up until the 'Last day to make payments or withdrawals' (found on your new information sheet) before your new term start date.
- Your money will be reinvested into a new term and your account details will stay the same.
- We’ll continue to pay your interest monthly into the account you previously chose.
- Once your new term has started, we'll send you a Certificate of Deposit confirming the new account details, to your secure mailbox in your Mobile App or Digital Banking, or by post.
If you don't want to reinvest, it's easy to opt-out:
- Complete the ‘Opt-Out’ form within your pack and send it back to us at least 5 days before the end date of your Fixed Term Savings Account.
- You can also let us know you want to opt out of reinvesting at any point in the six months before your account matures by visiting us in branch or calling 03457 24 24 24. Or if you are calling from abroad +44 (0) 3457 24 24 24, we also have our Relay number 18001 03457 24 24 24.
- Once you have opted out, we'll convert your Fixed Term Savings Account on the day after it matures into a Primary Savings Account, we’ll pay any outstanding interest either into your new Primary Savings Account or the account you previously nominated to receive interest.
