Hi all,

I need some help and advice (legal if possible) regardng early closure of my Savings Bond.

Background: Last December I opened up a Savings Bond for 4 years with a reputable online Company. It was for £5000. I read and understood the conditions that I would not be able to deposit further funds or make any withdrawals, which was fine at the time.

However, a year one, my wife’s finances have spiralled out of control and currently my only option is to close my savings bond early and help my wife out, which this amount would enable me to do.

I would rather do this and give both my wife and I piece of mind, especially with Christmas around the corner.

I also need to add that my wife and I have separate bank accounts and she pays the rent, council tax etc and I have my own committments and already give her extra money to help her out. She already has a bank loan and would not be able to secure a further one.

I have written a letter to the bank and they have further requested that I send them proof and an explanation why I require to cancel this account. I have done this and I have even included a letter from my wife to back up my request to show that I have considered this seriously.

Even though I desperately require this money, which they agree is mine and further acknowledge that under special circumstances they can close the account, they still may refuse.

I am still waiting to hear from them.

Can they refuse and if they do, is there any legal options open to me?

Look forward to any advice.