Yorkshire BS Ebond tranfer money in question

modern_man

I have just opened a YBS Ebond at 6.50% Fixed. I am wanting to transfer some money into this account by using my Debit Card as this seems to be a quick method to use. I am wanting to transfer £20,000+ into the account and my question is can I transfer all that amount in one transaction or is their a limit as to how much I can transfer at any one time?

isofa

You might have to contact your bank who supplies your debit card to allow such a large transaction to go through, normally there would be a block on a large transaction, just in case your card has been stolen or for fraud purposes.. Most have a card hotline.

I doubt very much there would be any restriction or accepting limit from YBS.

Obviously you could send a cheque Special Delivery, but you'll lose a few days interest.

modern_man

Thanks, I will contact my Bank to ask if their are any restrictions or if I can apply to make a one-off large payment and prevent a problem using my Debit card. The least amount of time this money will be sitting in my current account earning 0.1% the better.

YorkshireBoy

modern_man wrote: »

Thanks, I will contact my Bank to ask if their are any restrictions

In my experience they won't tell you!

They'll mumble something about the 'network' (switch/maestro or Visa) possibly having a restriction. They may even say that the recipient will have some limit. But they sure as heck won't say "certainly sir, you can move £20,000 in one go with your debit card".

noh

I opened an e-bond with YBS last weekend.
Deposited £1000 by debit card on opening last Sunday and when the account appeared online the next day a further £9000. I have since deposited more but have kept each deposit under £10k.
I have also moved some money to an egg 6.3% by debit card and it appears egg have a limit of £10k per transaction but just made multiple transactions to get round this.

Nigel

modern_man

Thanks Nigel, upto £10k chunks would be fine. How long did the transfers take to show up on the account?

evenasus

Just been to the YBS site and thinking of opening the E-Bond.

It states that there are no application papers to sign as it's all done online.
Does anyone know if they verify your identity online or if you have to mess about with sending ID documents?

noh

modern_man wrote: »

Thanks Nigel, upto £10k chunks would be fine. How long did the transfers take to show up on the account?

I think the deposit appeared immediately (if not it was the next day) on the YBS account statement.
The money was earmarked in my current account immediately (ie the available balance reduced by the amount of deposit).
One of the quickest and easiest accounts I have ever opened.

Nigel

evenasus

Also, I imagine they're as stable as any building society/bank can be at this time?

noh

evenasus wrote: »

Just been to the YBS site and thinking of opening the E-Bond.

It states that there are no application papers to sign as it's all done online.
Does anyone know if they verify your identity online or if you have to mess about with sending ID documents?

Its done on line. If they are unable to verify you electronically then you will need to send documents.

Nigel

noh

evenasus wrote: »

Also, I imagine they're as stable as any building society/bank can be at this time?

I hope so!