# An Post Savings Certificate maturing soon



## VanZan (22 May 2015)

My Dad took out a five and a half year An Post certificate back in January of 2010. So by our reckoning it should be available in July? If so then can anyone tell us what exactly happens? Is it paid into my Dad's bank account or do we get a cheque or what?

If find it sort of worrying we have heard nothing from them. I remember back in 2010 my Dad was getting statements a couple of times a year. Of course now when things are getting interesting we haven't heard a squeak!

Thanks for any help...


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## Eithneangela (22 May 2015)

VanZan said:


> My Dad took out a five and a half year An Post certificate back in January of 2010. So by our reckoning it should be available in July? If so then can anyone tell us what exactly happens? Is it paid into my Dad's bank account or do we get a cheque or what?
> 
> If find it sort of worrying we have heard nothing from them. I remember back in 2010 my Dad was getting statements a couple of times a year. Of course now when things are getting interesting we haven't heard a squeak!
> 
> Thanks for any help...


In my experience your Dad will either have his bank account increased by the appropriate amount or will automatically get a cheque depending on which option he chose when initially setting up the certificate.


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## Sue Ellen (23 May 2015)

In my experience with these certificates the NTMA will write to your Dad about a month in advance of the certificate maturing.  The options are a full reinvestment, partial reinvestment or encashment.  They will request return of the certificate and completion of the paperwork to authorise them to proceed with any of the above options. 

For quite a number of years now they issue one yearly statement and I don't ever recall receiving statements a couple of times a year and I have been dealing with them for many years.  I have also found them to be quite efficient.

http://www.statesavings.ie/products/Pages/SavingsCertificates.aspx


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## VanZan (26 May 2015)

You're right about the statements...for the first two years he received one statement annually detailing the state of the investment. However since 2012 he has not heard a thing. I rang up once and asked them about this and bizarrely was told that they never send out annual statements when I had two of them in my hands while I was talking to the lady. I just got tired and gave up to be honest!


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## horse7 (6 Jun 2015)

My one matures,and there is no mention or option for reinvestment in the letter and forms sent out. In the past years reinvestment was always possible.


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## DrMoriarty (6 Jun 2015)

The rules for each issue are given here (p.14 for your Dad's one, OP). They say they'll write "at least" 10 days before maturity, so if that time comes and there's still no word then just give them another ring. I just sent them a completed repayment form; cheque came through within days.

No mention of any 'rollover' reinvestment option, but there's nothing to stop you taking out another one on the same terms: see here.

_3.  Notification  of  Maturity  Date  _
_3.1    At  least  10  Business  Days  in  advance  of  the  Maturity  Date  we  will  contact  you  in  writing: (a)  to  notify  you of  the  Maturity  Date  and  the total  amount payable  to  you;  and   (b)  to  request  your  instructions  on  the  payment  of  such  amount.    _
_3.2    We  will  continue  to  hold  the  total  amount  payable  to  you  until  such  instructions  are  received.    You  should  note  that  no  Interest   or  other  amount  shall  accrue  in  respect  of  Savings  Certificates  in  Issue  21 on  or  after  the  Maturity  Date._


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## Grizzly (7 Jun 2015)

The problem with the certs is that you effectively cash them in and if you want to "rollover" the sum you are allocated a new account. It is such a pity that you cannot keep the original account number. My father had a number of these over the years and he had account numbers all over the place, on bits of paper etc
I have a number of these and it is a pain having to encash them and then to re-open the account with the same balance but with a new number.


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## dub_nerd (12 Apr 2018)

I had a 5.5 year Saving Cert opened in October 23rd, 2012. By my reckoning it should mature April 23rd, 2018. But as of the start of this week I'd had no letter. Anyone know if this is unusual?


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## David1234 (12 Apr 2018)

I would just give them a call if nothing heard by Monday. Seems like a very short lead time to send out paperwork and get instructions back. Is it possible that you requested that the funds be paid into account X on maturity?


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## dub_nerd (12 Apr 2018)

No, there isn't any facility to specify a repayment method on the application form. I'm pretty sure they say they'll write within ten business days of maturity which was last Monday.


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