upperdeane
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Post by upperdeane on Apr 5, 2020 10:03:55 GMT
I may have missed an email, but I don't recall seeing one saying early access (for the 0.5 percent penalty interest fee) on the 60 day account had been suspended. I just tried and the option was greyed out as unavailable. The only option was to take the 60 day wait option.
Has there been any comms on this I have missed?
Cheers
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Post by gravitykillz on Apr 5, 2020 10:38:58 GMT
That has always been unavailable. Even prior to corona.
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Post by Ace on Apr 5, 2020 10:39:22 GMT
I may have missed an email, but I don't recall seeing one saying early access (for the 0.5 percent penalty interest fee) on the 60 day account had been suspended. I just tried and the option was greyed out as unavailable. The only option was to take the 60 day wait option. Has there been any comms on this I have missed? Cheers I don't think that option has ever been available. It's always been greyed out whenever I've looked. Presumably something they would think about if they ever had too much uninvested cash. On the bright side, access when the 60 day notice period finishes has always been within 24 hours for me. I've tested it several times, including during the last few weeks. EDIT: Crossed with Gravity.
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upperdeane
Member of DD Central
Posts: 493
Likes: 245
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Post by upperdeane on Apr 5, 2020 11:11:29 GMT
That has always been unavailable. Even prior to corona. Very strange as it's an advertised feature.
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upperdeane
Member of DD Central
Posts: 493
Likes: 245
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Post by upperdeane on Apr 5, 2020 11:12:31 GMT
I may have missed an email, but I don't recall seeing one saying early access (for the 0.5 percent penalty interest fee) on the 60 day account had been suspended. I just tried and the option was greyed out as unavailable. The only option was to take the 60 day wait option. Has there been any comms on this I have missed? Cheers I don't think that option has ever been available. It's always been greeted out whenever I've looked. Presumably something they would think about if they ever had too much uninvested cash. On the bright side, access when the 60 day notice period finishes has always been within 24 hours for me. I've tested it several times, including during the last few weeks. EDIT: Crossed with Gravity. Thanks for the info Ace
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Post by overthehill on May 23, 2022 10:44:16 GMT
Do withdrawals always take the full 60 days ? Anybody ?
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mogish
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Post by mogish on May 23, 2022 11:28:33 GMT
Do withdrawals always take the full 60 days ? Anybody ?
Why are you thinking of withdrawal? (Don't answer if it's for private reasons) Are you moving to fscs protection due to better rates?
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Post by Ace on May 23, 2022 11:30:29 GMT
Do withdrawals always take the full 60 days ? Anybody ?
Yes, transfers from the premium account take 60 days, apart from the exceptions noted below. Withdrawals from cash account to your external bank account usually happen the following day. I believe there was an exception during the end of ISA year boundary, when they allowed transfers from non-ISA to ISA without the 60 day notice. When available, there's an option to transfer from premium instantly for a 0.5% fee. Even when this feature is not available they might allow it if you contact them.
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Post by lotus_eater on May 23, 2022 11:54:04 GMT
Do withdrawals always take the full 60 days ? Anybody ?
Yes, transfers from the premium account take 60 days, apart from the exceptions noted below. Withdrawals from cash account to your external bank account usually happen the following day. I believe there was an exception during the end of ISA year boundary, when they allowed transfers from non-ISA to ISA without the 60 day notice. When available, there's an option to transfer from premium instantly for a 0.5% fee. Even when this feature is not available they might allow it if you contact them. As Ace said, if you send them an email and explain the situation they're pretty good. I just did this last week.
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a0010402
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Post by a0010402 on May 23, 2022 11:58:56 GMT
For next time you may want to look into implementing rolling withdrawals. It gives you all the benefits of the superior rate with added flexibility. They do take some time to set up, though. And btw, withdrawals from the cash account to your bank account are same day if you request them early enough in the morning of the day the funds have hit the cash account. Or at least that works for me. |
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Post by barnsleybiker on May 23, 2022 16:01:03 GMT
I had a situation in early May involving HMRC and a catastrophic mistake, not wanting to upset Her Majesty's tax inspectors I needed access to some of the money in my premium account PDQ. after making contact with the ever helpful folk at Loan pad the money was in my cash account and available to withdraw the next morning. 0.5% fee had been charged which I thought was fair.
I'm happy, her Majesty's tax inspectors never said thankyou!
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mogish
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Post by mogish on Jun 14, 2022 15:37:13 GMT
How do I give the 60 day notice?
I dont want regular monthly withdrawals just a one off.
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Post by Ace on Jun 14, 2022 15:57:56 GMT
How do I give the 60 day notice? I dont want regular monthly withdrawals just a one off. Go to the transfers page and select to move funds from premium to cash. There's a calendar to select the transfer date which defaults to 60 days time. You can select any date beyond that if you so desire. After the transfer happens (60 days+) go to the cashier page and withdraw the cash.
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mogish
Member of DD Central
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Post by mogish on Jun 16, 2022 15:20:44 GMT
Thanks Ace👍
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