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A Notice Account is a type of savings account which allows you to make a one-off deposit and earn a variable rate of interest or profit. When you want to withdraw your money, you give a set period of ‘notice’. Once the notice period has elapsed, the money transfers back into your Hub Account and is available for you to withdraw or to deposit into another product.
Notice accounts are great for those who want a degree of flexibility in terms of when they can access their savings and who are comfortable knowing that they can access their money after giving a set period of notice. They typically pay higher rates of interest/profit than easy access accounts so can offer a balance of competitive interest rates along with the ability to access your money, after a waiting period, if you need it.
You can find details of all of the Notice Accounts offered by our partner banks in our marketplace. There you’ll find information about the rates on offer as well as the applicable notice periods so that you can choose the product that’s right for you. Notice periods vary by products and are typically 45, 60 or 90 days.
You can only withdraw money from your Notice Account by entering your notice period and closing your Notice Account. You can ask to close your notice account at any time (and thereby start your notice period) from within the active accounts section in the Smart Savings area. After your notice period elapses, your original deposit, plus any interest or profit earned, will transfer to your Smart Savings Account.
It can take up to four business days, after the end of the notice period, for the money to transfer back into your Smart Savings Account, after which the proceeds will be available for you to withdraw or to deposit into other products available within our marketplace.