Aldermore Bank is shutting down its postal service on its easy-access accounts, fixed-rate bonds and cash Isas
Aldermore Bank is shutting down its postal service on its easy-access accounts, fixed-rate bonds and cash Isas — and making customers use the internet.
The move will happen on October 1 and savers are receiving letters informing them of the plan.
A spokesman says: ‘We have taken the decision to move the management of accounts to online only. We will continue to offer a telephone service line for savers with concerns about their accounts.’
If you opened a fixed-rate deal, you will receive a letter at maturity. If you don’t want to reinvest your money online, the telephone service will help you close your account.
If you are in Aldermore’s Easy Access saver at 1 per cent and don’t want to go online, switch to Coventry BS (1 per cent), Virgin Money (1.01 per cent) or Kent Reliance (1.3 per cent), which let you run your account by post.
With cash Isas, head for Coventry BS (1.25 per cent) or Virgin (1.01 per cent).
On fixed-rate bonds, Kent Reliance pays 1.85 per cent for one year and PCF Bank 1.9 per cent for 18 months.
Contact PCF Bank on 020 7227 7577, Kent Reliance on 0345 122 0022, Coventry BS on 0800 121 8899 and Virgin Money on 0345 606 7685.
Your money is covered up to £85,000 under the Financial Services Compensation Scheme in the same way as with Aldermore.