On or around 14 days before the maturity date of your account we’ll contact you to advise you of your options.
If you’re happy to continue to reinvest your savings into another Fixed Term Savings Account or Fixed Rate Bond, we’ll automatically do this for you.
You’ll then receive your Certificate of Deposit confirming the details of your new account within 14 days of reinvestment.
If you change your mind, you can still close your account 30 days after your savings have been reinvested. After this date we’ll require 35 days’ written notice and an Early Closure Charge may apply.
If you decide that you don’t want to reinvest, it’s simple to opt-out. Simply complete and return the Opt Out form in your maturity pack. You can also advise us six months before your account matures by visiting us in branch or calling 0800 051 4187 (Minicom0800 404 6160).
Once you are opted out, if you have a Fixed Term Savings Account, we’ll then convert your account into an Instant Saver Account on the day after maturity and pay any outstanding interest into the account you chose previously.
If you have a Fixed Rate Bond, your savings will be paid into your nominated account the day after maturity.