Sainsburys 6% Internet Saver

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  • Two9A
    Two9A Posts: 274 Forumite
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    I opened one of these accounts last week, and received the letters yesterday. Activated the service and put in some cash; luckily, I have another HBOS account from which I can transfer, so the payment was immediate.

    We'll see how it goes, but it seems to be pretty painless thus far.
    Debts (26.3% remaining) - CC/BARC: [strike]2058[/strike] 100.00 @0%; CC/MBNA: [strike]1877.75[/strike] 0.00; Loan/SLC: [strike]10000[/strike] 7901.84 @1.5%; Loan/Per: [strike]1500[/strike] 0.00; Loan/HX: [strike]15000[/strike] 0.00
    Mortgages (94.7% remaining) -     NW: [strike]92516.94[/strike] 87565.40 @3.19%; HBOS: [strike]65599.57[/strike] 59106.45 @4%, [strike]69251.57[/strike] 68589.97 @3.49%
    Total amount of fail: Dangerous (223263.66)
  • Thomas_Crown
    Thomas_Crown Posts: 887 Forumite
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    johnmoney05 wrote: »
    By the way, Thomas, are you in Manhattan? hmmm....thanks for your advice!


    I like to ''borrow'' the odd masterpiece from the local art gallery every now & then.;)
  • Thomas_Crown
    Thomas_Crown Posts: 887 Forumite
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    I've just received an email from those nice helpful peeps at Sainsbury's Bank regarding my new Internet Saver Account. Apparently if you are an existing customer of the bank you will not be sent a 'Welcome Pack'.

    All I get by post is a book of paying in slips (which I have already received) & the account becomes operational when the online restriction if lifted.:)
  • sav4it
    sav4it Posts: 199 Forumite
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    Well this is too weird for words. As posted above, finally got letter to sign yesterday so they can't have received it back yet. Just logged in and I can use the account fully. What's that all about then?
  • Sapphire
    Sapphire Posts: 4,269 Forumite
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    sav4it wrote: »
    Well this is too weird for words. As posted above, finally got letter to sign yesterday so they can't have received it back yet. Just logged in and I can use the account fully. What's that all about then?

    Not too sure - I haven't had any letter to sign and am fully activated (after a lengthy wait and complaints!). ;)
  • jem16
    jem16 Posts: 19,398 Forumite
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    derrick wrote: »
    Re the highlighted part of the quote, what happens if you do the transfer on a Friday? does it have to wait until Monday,i.e. "working days".

    It will still go through overnight.

    Transfer on Friday - it will be in your account Saturday.
  • derrick
    derrick Posts: 7,424 Forumite
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    jem16 wrote: »
    It will still go through overnight.

    Transfer on Friday - it will be in your account Saturday.

    Yes it does happen like that, I did a couple of test transfers last weekend, if you transfer on a Friday,(or any day for that matter), it appears on your account the day after, but is dated the day of action, however re your post #71 "I set up the transfer as "Transfer to another account with us". It then allows you to choose accounts beginning with sort codes, 11, 60 or 12

    I tried one to and from HALIFAX I.F. (HBOS??) and it took 4 "working" days each way despite the fact the sort code begin 11.
    Don`t steal - the Government doesn`t like the competition


  • sav4it
    sav4it Posts: 199 Forumite
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    Just to confirm, movements between HBOS and Sainsburys is instant although it won't show on the respective statements until the next day.
    Don't quite know what happened in post above. I've tested twice now.
  • jem16
    jem16 Posts: 19,398 Forumite
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    sav4it wrote: »
    Just to confirm, movements between HBOS and Sainsburys is instant although it won't show on the respective statements until the next day.

    Mine shows instantly as long as I log out of Sainsburys and then back in again.
  • Oldhand_2
    Oldhand_2 Posts: 32 Forumite
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    To be honest I am just fed up with this account. I recommended it to my wife (instead of the BMS online account) and she applied online on 25th June. She had an immediate welcoming letter so sent off a substantial cheque whilst waiting verification. The cheque did not appear on the account details for over a week, so as she had some concern whether it had arrived she phoned to be told that as it was a large amount it would take some time to clear(!). Eventually it did appear online, but the account was still waiting verification. On the 20th July, nearly four weeks after opening the account, she had a letter (dated the 4th July) saying that id verification was fine, just sign and return the letter, which she did on 21st July. Her account still shows waiting verification. I just hope that interest is being earned, five weeks after applying to open the account.

    I suppose we shall have to phone the help line again.

    I sometimes wonder whether chasing the extra fraction of a percent interest rate is worth all this worry.

    Rgds.

    PS We sent a cheque as Barclays wanted £20 to do a BACS transfer. Now that is robbery.
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