http://www.governormoney.com/faqs/

Governor

Simplify your savings

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FAQs about Governor

How can I open an account with Governor?

Unfortunately since 17th December 2012 we are no longer accepting new customer applications either online or over the phone.

Why have you stopped accepting new customer applications?

This decision has come about due to current changes sweeping through the savings market over the past few months. Unfortunately we have a scarcity of products to offer on the platform which, in the long term, goes against our original commitment to provide a range of products to choose from in order to get the best return for our customers.

We have not gone into administration. Rest assured existing customers will continue to receive the same level of service they have received up to now.

How does this affect existing customers?

The change to our service means existing customers are unable to place orders for new products or re-invest funds once their current savings mature as the last remaining available products will not be replaced.

We have sent a secure message to all of our existing customers providing more information about how this affects their account.

Is my money safe with Governor?

The money in your Governor account is always held with deposit takers who are members of the Financial Services Compensation Scheme (FSCS). To find out more about how the FSCS can help protect your savings, please go to www.governormoney.com/fscs-protection


Avoiding Fraud

Governor has taken numerous steps to ensure the safety and security of your money. We have processes in place to avoid fraud and use encryption to keep your data safe.


To prevent fraudulent withdrawals, you may only withdraw money from your Governor account to your nominated bank account, which must be in your name. The only exception to this is for cash ISA money, which may be transferred to another provider.

What happens to my money at maturity?

Once your existing product(s) mature your invested money will be transferred back into your standard savings, joint savings or cash ISA pot (depending on what product you originally chose). You will then be able to withdraw your money to your nominated back account or transfer out if you have a cash ISA. Be careful if you are withdrawing Cash ISA money from your account - unless you fill in an ISA transfer form you will lose the tax free status of the money.

Can I withdraw my un-invested money?

Un-invested money can be withdrawn to your nominated bank account at any time. If it is left un-invested you will receive 0.15% AER interest.

If the money is invested in a product, you should check the product details to see how quickly you'll be able to access your money. For Standard savings products, you won't be able to access your money before the term is up. For cash ISA products, early access is on closure only and subject to a breakage fee.

How do I transfer out?

If you wish to transfer to a new ISA Manager, you will need to contact you new ISA Manager to arrange this. Please note that transfers made up of current tax year subscriptions must be transferred in full. Transfer requests received from your new ISA Manager for funds held in a Product will not avoid the application of any Early Closure charge by the Deposit Taker or the Early Closure Administration Charge by us.

Will Governor offer advice about what to do with my money?

No. Governor does not offer advice on what to do with your savings, nor do we make any decisions about your money on your behalf. Governor's aim is to make it as easy as possible for you to manage your savings yourself. If you would like advice on what to do with your savings you should seek help from an independent financial advisor.

How do I contact you?

If you are an existing customer and have any further questions regarding your account that have not been answered here, you can send us a secure message by signing into your account or calling us on 0845 121 3315.

Phone lines open Mon - Fri 9am - 5pm. Call charges apply. These are dependent on your provider’s tariff and are likely to be more from mobile phones. For more information, please contact your provider.


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