Notice accounts require you to give advance notice to your savings provider before you withdraw funds. The amount of notice that needs to be given depends on the account you choose and can mean you avoid incurring penalties, such as loss of interest.
These accounts can typically be operated via branch, telephone, post or online, although some specify that certain methods have to be used (e.g. branch-based or internet-operated accounts).
It's important to remember that if you choose an account which is operated by post, telephone or the internet, there may be a delay in receiving funds due to how these accounts are accessed. Some accounts may offer facilities such as a cash card or passbook.
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Disclaimer: This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.
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