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  • FIRST POST
    • vernall
    • By vernall 9th Oct 16, 8:22 AM
    • 438Posts
    • 90Thanks
    vernall
    Opening BOS accounts
    • #1
    • 9th Oct 16, 8:22 AM
    Opening BOS accounts 9th Oct 16 at 8:22 AM
    Hi guys

    Im looking for a new home for some of my Santander cash.

    Interested in opening 3 BOS accounts,my question is do I have to open an initial one online then at a later time it will give me the option via online banking or something to open the further 2 or can I open the 3 straight away with my first application online?

    started the application process and thought it may tell me,got to the credit check section and it hadn't told me so i stopped

    cheers
Page 1
    • ASavvyBuyer
    • By ASavvyBuyer 9th Oct 16, 8:32 AM
    • 183 Posts
    • 239 Thanks
    ASavvyBuyer
    • #2
    • 9th Oct 16, 8:32 AM
    • #2
    • 9th Oct 16, 8:32 AM
    When we opened them, we did one at a time just after we received the confirmation email that the previous one was open. Managed all 6 that way, but they may have changed it now.
    • bigadaj
    • By bigadaj 9th Oct 16, 9:27 AM
    • 7,799 Posts
    • 4,752 Thanks
    bigadaj
    • #3
    • 9th Oct 16, 9:27 AM
    • #3
    • 9th Oct 16, 9:27 AM
    It's likely that you open one online and will then be rejected for accounts two and three, this certainly happened to me.

    You then have to ring them up and go through the application process on the phone for the two additional accounts, it's a bit long winded and takes about 10-15 minutes but you'll get there in the end.

    Some people seem to have done everything online but many haven't, once set up it is easily managed online, I've never logged into bos as it all shows on my Halifax online portal.
    • vernall
    • By vernall 9th Oct 16, 12:26 PM
    • 438 Posts
    • 90 Thanks
    vernall
    • #4
    • 9th Oct 16, 12:26 PM
    • #4
    • 9th Oct 16, 12:26 PM
    All 3 opened fine online and all showing up instantly on my Halifax online banking.

    Now for the £1000 funding of each.......will BOS be satisfied with the same £1000 cycled from one to the other to the other?

    i.e. the same £1000 paid into BOS 1 then straight into BOS 2 then straight into BOS 3 then straight out again?
    • john1002
    • By john1002 9th Oct 16, 12:35 PM
    • 766 Posts
    • 306 Thanks
    john1002
    • #5
    • 9th Oct 16, 12:35 PM
    • #5
    • 9th Oct 16, 12:35 PM
    vernall no they need to be funded from external accounts so you would need to send the 1000 back to another account and then from there to BOS 2 and then back and then to BOS 3 unless you have the funds or accounts to use a separate external account for 2.

    I just opened a second account and luckiy was able to do this online from within internet banking, although the second account is just like applying for a new account.

    Do like though how you get your details straight away and can see the account in your online/mobile banking.

    2nd one though didn't let me have an overdraft wasn't even an option, also don't forget you need to fund all 2/3 new accounts with separate paying out DD to get interest as well as funds transfer.

    John
    • badger09
    • By badger09 9th Oct 16, 12:48 PM
    • 4,266 Posts
    • 3,480 Thanks
    badger09
    • #6
    • 9th Oct 16, 12:48 PM
    • #6
    • 9th Oct 16, 12:48 PM
    vernall no they need to be funded from external accounts so you would need to send the 1000 back to another account and then from there to BOS 2 and then back and then to BOS 3 unless you have the funds or accounts to use a separate external account for 2.

    I just opened a second account and luckiy was able to do this online from within internet banking, although the second account is just like applying for a new account.

    Do like though how you get your details straight away and can see the account in your online/mobile banking.

    2nd one though didn't let me have an overdraft wasn't even an option, also don't forget you need to fund all 2/3 new accounts with separate paying out DD to get interest as well as funds transfer.

    John
    Originally posted by john1002
    That is not true

    All 3 opened fine online and all showing up instantly on my Halifax online banking.

    Now for the £1000 funding of each.......will BOS be satisfied with the same £1000 cycled from one to the other to the other?

    i.e. the same £1000 paid into BOS 1 then straight into BOS 2 then straight into BOS 3 then straight out again?
    Originally posted by vernall
    Yes, internal cross funding is fine.

    Hint: unless the T&Cs specify external funding, then it isn't necessary.
    • john1002
    • By john1002 9th Oct 16, 3:19 PM
    • 766 Posts
    • 306 Thanks
    john1002
    • #7
    • 9th Oct 16, 3:19 PM
    • #7
    • 9th Oct 16, 3:19 PM
    My mistake I was sure it needed to be external accounts but yes you are correct having read the terms:

    Your Added Value Account with Vantage
    If you have Vantage added to your Added Value Account it gives you the benefit of credit interest on your current account if you comply with the Vantage conditions.
    You can have a maximum of three accounts with Vantage.
    The Vantage conditions are that each month you must:
    ▶ pay into your account at least £1,000 during the calendar month; and
    ▶ keep your account in credit (that is above £0) during the monthly billing period; and
    ▶ pay at least two different Direct Debits from your account each calendar month.

    So your assumption vernall is correct you can just transfer as suggested in your post.

    john
    • Ashen
    • By Ashen 9th Oct 16, 5:03 PM
    • 290 Posts
    • 168 Thanks
    Ashen
    • #8
    • 9th Oct 16, 5:03 PM
    • #8
    • 9th Oct 16, 5:03 PM
    On the subject of the BoS application, I'm always never sure whether I should have included the leading 0 in my phone numbers when I applied, given it indicated +44 before it - it accepted either, and not sure if whichever I did was correct.
    • vernall
    • By vernall 9th Oct 16, 6:42 PM
    • 438 Posts
    • 90 Thanks
    vernall
    • #9
    • 9th Oct 16, 6:42 PM
    • #9
    • 9th Oct 16, 6:42 PM
    Does anyone have any experience of using just 1 Tesco internet saver account to service these 3 accounts 6 direct debits?

    I think I read somewhere that if you make out the direct debit for Mr J Smith and John Smith(thats not my name btw lol) it will count as 2 different direct debits.....is this true?
    • Vortigern
    • By Vortigern 9th Oct 16, 7:00 PM
    • 2,041 Posts
    • 1,286 Thanks
    Vortigern
    The suggestion I've seen on these boards is that each DD should have a different reference. I haven't tried that technique, but others report that it works.
    • YorkshireBoy
    • By YorkshireBoy 9th Oct 16, 7:19 PM
    • 28,280 Posts
    • 16,107 Thanks
    YorkshireBoy
    Does anyone have any experience of using just 1 Tesco internet saver account to service these 3 accounts 6 direct debits?

    I think I read somewhere that if you make out the direct debit for Mr J Smith and John Smith(thats not my name btw lol) it will count as 2 different direct debits.....is this true?
    Originally posted by vernall
    With up to £37 at stake, why would you risk it?
    • vernall
    • By vernall 10th Oct 16, 2:47 PM
    • 438 Posts
    • 90 Thanks
    vernall
    i was just thinking of trying to have 1 less account open,that means if I now open a tesco instant access savings account to deal with the other direct debit out of each of the 3 BOS ones that will be 15 I have open......thats despite my normal everyday bank account lol
    • YorkshireBoy
    • By YorkshireBoy 10th Oct 16, 2:51 PM
    • 28,280 Posts
    • 16,107 Thanks
    YorkshireBoy
    i was just thinking of trying to have 1 less account open,that means if I now open a tesco instant access savings account to deal with the other direct debit out of each of the 3 BOS ones that will be 15 I have open......thats despite my normal everyday bank account lol
    Originally posted by vernall
    If you're concerned about 15, you'd be struggling with the 76 I'm managing!
    • vernall
    • By vernall 10th Oct 16, 2:53 PM
    • 438 Posts
    • 90 Thanks
    vernall
    that makes me feel better then in comparison lol
    • TheShape
    • By TheShape 10th Oct 16, 2:58 PM
    • 425 Posts
    • 210 Thanks
    TheShape
    If you're concerned about 15, you'd be struggling with the 76 I'm managing!
    Originally posted by YorkshireBoy
    Is there a list of these 76 accounts? I'd like to see it.

    My girlfriend thinks I'm insane having 8 current accounts. Do need to open some BOS too.
    • vernall
    • By vernall 10th Oct 16, 3:03 PM
    • 438 Posts
    • 90 Thanks
    vernall
    are you only allowed one tesco internet saver?i thought so but on the application it says we may limit the number you can have?
    • TheShape
    • By TheShape 10th Oct 16, 4:12 PM
    • 425 Posts
    • 210 Thanks
    TheShape
    are you only allowed one tesco internet saver?i thought so but on the application it says we may limit the number you can have?
    Originally posted by vernall
    Tesco have two savings accounts, one called Internet Saver and the other, Instant Saver. As far as I remember, you can only have one of each.
    • badger09
    • By badger09 10th Oct 16, 4:58 PM
    • 4,266 Posts
    • 3,480 Thanks
    badger09
    If you're concerned about 15, you'd be struggling with the 76 I'm managing!
    Originally posted by YorkshireBoy
    Can't find a home for all those YBs YB?
    • youngretired
    • By youngretired 10th Oct 16, 5:27 PM
    • 67 Posts
    • 31 Thanks
    youngretired
    The Tesco Internet Saver doesn't stipulate that you are only allowed 1 (unlike the Post Office Online Saver), just that you may be limited. I have 3 Internet Savers which I've opened over 2 years and draw funds into all 3 by a number of DDR's.
    • YorkshireBoy
    • By YorkshireBoy 10th Oct 16, 6:18 PM
    • 28,280 Posts
    • 16,107 Thanks
    YorkshireBoy
    Can't find a home for all those YBs YB?
    Originally posted by badger09
    I did say "managing", because they're not all mine. But all the YB's have gone, yes.
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