Please select your user type after reading and agreeing to the following terms:

Our investment products can provide both individual and institutional investors with flexible investment vehicles, which can accommodate varying appetites for risk, asset exposure and capital protection.

It is important that you understand the risks attached to each of the investments. The key risk areas are summarised below, but please remember that these are general risks and those relevant to a particular product are set out in the product literature.

Meteor does not provide financial advice or guidance on tax issues and we recommend that you talk to a financial adviser if you are considering investing. Some products require you to seek professional financial advice. Such products will be highlighted on the website and in the brochure.

Any investment should only form part of your total investment portfolio. You should also maintain savings you can access immediately and without penalty to meet any emergency cash needs that may arise during the investment term.

Availability and Residence – due to local regulatory and legal requirements, not all products described on this website are available in all jurisdictions and some may be available on a limited basis only.

The securities mentioned on this website are not being offered, and will not be sold, within the United States or to, or for the account or benefit of, any U.S. person. The term U.S. person shall have the meaning as defined in Regulation S under the United States Securities Act of 1933 and includes, among other things, U.S. residents and U.S. corporations and partnerships.

Cancellation Risk – the risk that if you decide to cancel the investment after assets have been purchased you could lose some of your money if the market(s) or asset(s) to which your contract is linked have fallen since the purchase date.

Counterparty Risk   – the risk that a financial institution with whom we arrange the assets to provide investment returns does not, or cannot, pay the amounts due, which could cause you to lose some or all of your money and any investment returns that would have otherwise been payable.

Early Encashment Risk – the risk that if you decide to encash the investment before maturity you could get less back than you invested. Administration charges for early encashment will increase any losses.

Inflation Risk – the risk that inflation will reduce the real value of your investment over time.

Investment Risk – The risk that the market(s) or asset(s) to which your investment is linked fall in value, which could cause you to lose money.

ISA Transfer Risk – if you wish to transfer an existing ISA this must be done in cash, which means your existing ISA manager will sell your investments and you may be charged an exit or transfer fee. There is the potential for loss of income or growth if markets should rise while your transfer remains pending.

Liquidity Risk – the risk that you may not be able to immediately access the value of your investment.

Pricing Risk – the risk that a financial institution with whom underlying investments have been arranged may not be able to quote regular prices making it difficult to value your investment and delaying any early encashment request you may make.

Product Risk – the risk that the product design could produce a return that is lower than a direct investment in the market(s) or asset(s) to which the product is linked.

Tax Risk – The values of any tax reliefs will depend on your individual circumstances. You should note that the levels and bases of taxation could change in the future and these changes may be applied retrospectively.

It is important that you read any product literature carefully and in full so that you understand how the product works and can decide whether or not you are prepared to accept the risks and the possible consequences of investing in a particular contract, before proceeding with an investment.

Use of cookies

We use tools such as cookies which are small strings of text that a website can send to your browser. A cookie cannot retrieve any other data from your hard drive, pass on computer viruses, or capture your email address. Meteor may use cookies only to store information for the purpose of identifying whether the user is registered on the Site and to shortcut access to the Site. We may also place cookies and similar files on your hard drive for purposes such as security, to facilitate site navigation, to personalise your experience on our site and to help us understand which parts of our websites are the most popular, where our visitors are going, and how much time they spend there. These cookies do not identify you by name as an individual or by account number.

The cookies that we use have a set expiration date of 90 days. This means that every 90 days, users will be required to read and agree to these terms before using the site. Reminders of Risk warnings and information relating to our Privacy Notice and Use of Cookies also run on a 90-day cycle.

To enable or disable cookies, follow the instructions provided by your browser (usually located within the “Help”, “Tools” or “Edit” facility). Alternatively, an external resource is available at providing specific information about cookies and how to manage them to suit your preferences. However, please be aware that disabling cookies may mean that some of our online services will not work, including administration login queries.

By selecting an option below, you agree to the use of cookies.

Plan Updates

Meet the “Recallable” Plans

Recallable plans give the issuing bank the option to end a plan early.


  • Recallable plans give the issuing bank the option to end a plan early.
  • Customers are compensated with attractive potential returns for having to bear this uncertainty and the reinvestment risks.
  • Issuers can offer this because the option to refinance at their discretion gives valuable flexibility.
  • Call protection prevents the issuer from terminating plans before a certain period of time has elapsed and then only at certain dates thereafter, providing customers with less uncertainty about the possible duration of the plan.


Why consider recallable plans?

The potential returns

Recallable plans generally offer higher returns compared to their non-recallable counterparts. This is because customers are compensated for the additional risk they take on. For income-seeking customers, for example, enhanced rates of income are possible. However, in a recallable plan, they may have less certainty on how long that income will last compared to a non-recallable equivalent.

Early maturity potential

Early maturity gives customers their money back before the term of the plan is up. At this point they can reconsider their options. Customers can capitalise on changing market conditions, take profits, and then reallocate funds based on evolving investment objectives and risk tolerance. The other side of that is, customers may not be able to reinvest at the same or better rates of return when a plan matures.

Pre-defined conditions

In addition to a range of issuers with different levels of credit risk, customers can select from varying terms and conditions to suit their portfolio and views. Whilst conditionality increases potential rates of return, it also adds uncertainty where, say, regular fixed term bonds would not.


How do they work?

Recallable plans allow issuing banks to reserve the right to terminate a plan at certain junctures. For capital-protected plans, should the issuer choose to end a plan early, customers will receive their initial capital back and in many cases, a payment of income or growth.

Should a plan run to its full maturity and not be recalled by the issuer, the product will provide a return of capital and in many cases, a payment of income or growth, depending on the specification of the plan.

Recallable plans sometimes have a provision known as “call protection” which is designed to protect customers from an early recall of products for a certain period. Effectively, call protection specifies a minimum amount of time to pass before the option to recall becomes available to an issuer, giving customers time to enjoy the benefits of the plan initially. For instance, a 5 year plan may have 2 year call protection, ensuring that customers receive the benefits for at least 2 years.

Over the course of a product’s life, there will be pre-determined dates at which issuing banks can exercise their option to terminate a product. These dates are typically set at annual intervals, but this can vary across different products.


What might cause a product to be recalled?

At any given opportunity to recall a plan, the issuing bank will have complete discretion over whether to end the plan or to let it continue. This means that the payment of and continuation of any investment returns to customers is dependent on the issuer’s perception of their current and future benefits. The decision will consider prevailing economic conditions. For instance, market volatility, credit risk, and interest rates.

All these factors play into an evaluation of how efficiently they can use the invested money. When a customer invests, they are essentially loaning the funds to the bank and in return, they are contracted to receive some agreed benefit until the option arises for the issuer to switch out of the contract. This effectively gives the issuer the flexibility to refinance at better interest rates if available, much like how a homeowner might refinance their mortgage if market conditions present better opportunities to do so.


How can I find out more?

If that sounds interesting, visit our Current Products page to see what we have available today. Alternatively, speak to our sales team at

With interest rates making a return to form, finding value in risky investments is key. Recallable products could be worth considering if customers are comfortable with being rewarded for giving the power to an issuer to terminate a product at their discretion.



This information is for financial advisers only and should not be presented to, or relied upon by, private investors. Information contained in this document does not constitute tax, legal or investment advice. Products are subject to counterparty risk.


Posted: 21 August 2023
← Back Print Page

Similar Articles