Transfering money to Kaupthing

ericpode

I've opened a Kaupthing account with £1 from my linked account.

I'd now like to transfer a large sum from my Sainsbury's savings account to the Kaupthing account. It seems Sainsburys allow direct transfer to any account which would help in doing the transfer to Kaupthing in a single step (and thereby losing interest on only 1 transfer, compared with transferring to my linked account then transferring again to Kaupthing).

The only thing is I'm a bit wary of transferring a large sum from an account which is NOT my linked account.

Can anyone confirm if Kaupthing accept payments-in from non-linked accounts? Has anyone sucessfully transferred large sums from a non-linked account?

a&akay

Yes on several occasions £10k+. I always send £1 first just in case of any typos and then when it's in transfer the remainder.

FiscalFanny

I have just opened a KE account and as I understand only payments can be received from the linked account.

I had a query with KE about something else and sent them an email to which I got a response and clarification within 24 hours, so check with them before you do anything!

Fanny x

nzseries1

I also got told that payments must be from the nominated (linked) account only. And to change the nominated account was very very difficult.

10_66

Kaupthing will tell you that you can only transfer money in from the linked account, but you can definitely transfer money from non-linked accounts. It doesn't take any longer for money to be received into the account from non-linked account that if the transfer was from a linked account.

dudenstumpy

10-66 is correct. 3 days ago, I successfully sent a test amount of £1 from my HBoS current account to my son's Kaupthing.

yedi20

Yes - it is just like any other bank account. You use the sort code and account number. To check that I had got everything right I transferred a small amount first and then once that arrived safely transferred a large amount.

nzseries1

Interesting, thanks for the info! I shall do as people have suggested and try £1 first.

gomann

10_66 wrote: »

Kaupthing will tell you that you can only transfer money in from the linked account, but you can definitely transfer money from non-linked accounts. It doesn't take any longer for money to be received into the account from non-linked account that if the transfer was from a linked account.

Interesting ... I've recently opened a KE a/c, and the first transfer was from a non-linked [my wife's]. I received a 'naughty boy" email saying they would accept on this occasion, but other transfers from non-linked accounts would be returned.

Perhaps it's because I'm offshore transferring to offshore via my London bank?

However, I have subsequently found their Customer Relationship people extremely helpful ... and flexible!

Jonbvn

gomann wrote: »

Interesting ... I've recently opened a KE a/c, and the first transfer was from a non-linked [my wife's]. I received a 'naughty boy" email saying they would accept on this occasion, but other transfers from non-linked accounts would be returned.

Perhaps it's because I'm offshore transferring to offshore via my London bank?

However, I have subsequently found their Customer Relationship people extremely helpful ... and flexible!

I think the first transfer is used as a means of verifying your bank a/c details.

gzed

I've just opened mine tonight. I'm now waiting all of the details so that I can transfer some money in and in 2 weeks I will transfer the whole of my LlloydsTSB monthly saver.

Thanks MSE for the article on best savings account.