You may notice the use of the term "funding window" in the product literature, and have some questions around what this means.
This article will help answer those questions.
What is the funding window for my account?
The funding window is the period of time during which you are able to make deposits to your account. You can make as many deposits as you would like during this period, as long as you don't exceed the maximum balance for your product.
How do I find out what my funding window is?
The funding window for your specific product will be mentioned in the Product Summary Box which you will be asked to review during the application process. Because the funding window is a fixed period (e.g. 14 days), it begins from the point at which your account is opened and runs for the indicated period of time.
To find out when your specific funding window runs out, please refer to the "Welcome" email you received when you opened your account.
Alternatively, you can log into your customer portal and you'll be able to see when your funding window closes - see the caption in red below.
Your funding window will end at close of business on the date shown.
What happens if I don't reach the minimum balance by the end of the funding window?
If your balance is still below the minimum balance for your product when the funding window closes, we will do the following:
- Pay the interest that you have earned to date into your account
- Close the account
- Return your funds, including interest, to your linked current account
- Send you a closing statement and a text message confirming this
What happens if I make a deposit which puts me over the maximum balance for my account?
If you make a deposit which takes you over your maximum balance during the funding window, we will do the following:
- Retain the portion of the deposit which took you up to the maximum balance amount
- Immediately return the excess amount, i.e. the amount that took you over the maximum allowed balance
- Send you a text to confirm the above
What happens if I attempt to deposit to my account after the funding window has closed?
If you attempt to make a deposit after your funding window has closed, we will do the following:
- Immediately return your funds to your current account
- Send you a text explaining that your funds have been returned because your funding window is closed
If you have further questions about your funding window, please don't hesitate to contact our customer service team, a guide for which is available here.