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Online third party payments
JohnAnt
Posts: 35 Forumite
For me an important feature of an online savings bank is that it enables third party payments - so that I can make a monthly rental or other fixed payment from the interest, without having to lose three days interest or pay a CHAPS fee to shift the money into my current account and make the payment from there. I also want the freedom to make direct payments into the account from third parties, e.g. house sale proceeds, without wasting time and interest.
Most online savings banks will only allow payments to and from the 'home' i.e. current account. So far the only banks I've found that will allow such 3rd party transfers in and out of the savings account are Northern Rock and Egg.
Does anyone know of any others?
Most online savings banks will only allow payments to and from the 'home' i.e. current account. So far the only banks I've found that will allow such 3rd party transfers in and out of the savings account are Northern Rock and Egg.
Does anyone know of any others?
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Comments
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Abbey esaver and Halifax web saver.0
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It's easy to pay a 3rd party from Nationwide Flex (current) account.
You can have an E-Saver account and transfer to the flex account on the day you want to pay someone. This way you don't loose any interest. Also, Nationwide will allow more that one 10K transfer per day to a 3rd party.
I have before, transfered 40k in one day. Each 10K straight after the previous.0 -
Many thanks for the replies - I'll explore those options.
Northern Rock isn't that attractive a rate now, and Egg (which is) is frankly a pain to deal with, demanding ID documents even for known customers already operating with passwords on their website, each time when opening a second or third account - utter nonsense, and simply endangering customers' own security by forcing them to deliver their sensitive financial information to the tender mercies of the Royal Mail.0
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