AoS = $150 opening account fee

01-21-2007, 05:22 PM

Hi,

Our friends who are our AoS are depositing the bond next week. However,
they have been told that they have to pay $150 fee for opening the
account. Is this normal? We don't mind, we will send them the money -
it's just not something I've read about with my research.

Thanks in advance,

xx

01-21-2007, 05:56 PM

> Hi,
>
> Our friends who are our AoS are depositing the bond next week.
> However, they have been told that they have to pay $150 fee for
> opening the account. Is this normal? We don't mind, we will send them
> the money - it's just not something I've read about with my research.
>
> Thanks in advance,
>
> xx

It seems to be the normal practice.
Our Assurers had to also spend $150 on setting the account up.
I wonder if this is returned with the $5.000 in 2 years?

01-21-2007, 06:00 PM

> It seems to be the normal practice.
> Our Assurers had to also spend $150 on setting the account up.
> I wonder if this is returned with the $5.000 in 2 years?

It is not returned.

01-21-2007, 06:15 PM

> It is not returned.

JAJ,

Wondering if you could possibly spread some light on something?

You seem to be so knowledgeable on most things so I hope you know abit
about this?

When is the bond used?

I mean is it only dipped into by the government if we cant;t afford a
place to live or cover our own medicals expenses?

How does it work?

Sorry for the silly question..... I am sure its a simple answer its just
a can't find any info on it?

01-21-2007, 06:18 PM

> JAJ,
>
> Wondering if you could possibly spread some light on something?
>
> You seem to be so knowledgeable on most things so I hope you know abit
> about this?

>
> When is the bond used?
>
> I mean is it only dipped into by the government if we cant;t afford a
> place to live or cover our own medicals expenses?
>
> How does it work?

>
> Sorry for the silly question..... I am sure its a simple answer its
> just a can't find any info on it?

Not sure on the full reasons, but think it's also if you start claiming
benefit etc etc during that 2 years.

I read elsewhere that this $150 dollars is charged for the opening of
the account, but after the 2 years of assurance, the bond money has made
give or take a few cents, $150 interest, so really you don't pay an
opening cost....