Best 90 Day Notice Accounts

Is a 90-day notice account right for you?

90-day notice savings accounts could be the ideal choice if you’re happy giving notice before making a withdrawal, but don’t want to commit to a fixed rate bond. They are variable rate accounts, which means further additions can be made whenever you need, so are great for those who want to get into the habit of saving regularly.

However, the restrictions on access mean they shouldn’t be used as an emergency fund, and bear in mind that for 90-day notice accounts, the best rates tend to be reserved for those with a larger opening deposit, so are most suitable for those who have a significant savings pot. Just be mindful of tax limits in this case, and if you think you might breach your personal savings allowance, consider the best notice ISAs instead.

Can I withdraw my money from a 90-day notice account?

Yes, provided you give sufficient notice to your savings provider. Withdrawal requests can often be made via your online banking portal, though you may be able to arrange it by phone, email or post, depending on your account management options. Once the 90-day notice period has come to an end, your money will be transferred.

Some accounts will allow partial withdrawals, while others only permit the full balance to be withdrawn, so make sure to check the terms and conditions. Check too the cancellation procedures, as some accounts will let you cancel your withdrawal if you change your mind.

It’s also worth considering if you want the option of accessing your money without giving notice. Some accounts will allow earlier access to your funds on payment of a penalty, which typically equates to the loss of 90 days’ interest.

How safe is a 90-day notice account?

Given that 90-day notice savings accounts are cash-based, your money is as safe as in any other kind of account. Money held is protected by the Financial Services Compensation Scheme (up to the value of £85,000 per person per banking licence), and because returns are based on interest rates rather than investment performance, you’re guaranteed to never end up with less than you put in.

The only thing that isn’t guaranteed is the interest rate. Given that notice accounts are variable, the rate offered – and therefore the returns you receive – can fluctuate, with the provider able to change it at any time. However, they’re required to give sufficient warning of any rate change, and because you’re not tied in for the long-term, this also gives you the chance to compare rates elsewhere. This ensures you’re always getting the very best 90-day notice savings accounts available.