Birm Midshires/Saga fixed-rate cheque clearance times

RayWolfe

Cheque sent (for account opening) on 8th; cleared 17th.

atypical

For Birmingham Midshires:

Cheque sent 16th, cleared 24th (6 working days).

earlgrey_3

RayWolfe wrote: »

Cheque sent (for account opening) on 8th; cleared 17th.

So that's 6 banking days too Ray? Thanks guys. Just checked recorded delivery tracking and they received my app on Monday. Will arrange for loot to be in current account by Friday just in case they have a sudden burst of efficiency. :rolleyes:

Veryunique_2

earlgrey wrote: »

So that's 6 banking days too Ray? Thanks guys. Just checked recorded delivery tracking and they received my app on Monday. Will arrange for loot to be in current account by Friday just in case they have a sudden burst of efficiency. :rolleyes:

My experience is very different. I sent Saga forms+cheque on 6th. Yesterday they said they were processing applications from 6th,7th and 10th. Different from what they said last week. Whatever is happening my money has been sitting around for nearly 3 weeks and the cheque has not cleared.

I don't know whether they will honour the old rate or not.

I am totally fed up with all this as I am spending hours each day phoning around various building societies chasing up applications, trying to second guess when they will need the money, chasing up other building societies to break bonds and release cash ( I haven't got 2nd email yet)

earlgrey_3

Veryunique wrote: »

My experience is very different. I sent Saga forms+cheque on 6th. Yesterday they said they were processing applications from 6th,7th and 10th. Different from what they said last week. Whatever is happening my money has been sitting around for nearly 3 weeks and the cheque has not cleared.

I don't know whether they will honour the old rate or not.

I am totally fed up with all this as I am spending hours each day phoning around various building societies chasing up applications, trying to second guess when they will need the money, chasing up other building societies to break bonds and release cash ( I haven't got 2nd email yet)

That's bad. I've had very confused/inconsistent answers too when I've phoned. I'll buzz them again when my transfer is in and consider moving to deposit account within bank for a few days.

One answer that has been consistent is that they will honour the rate for received applications. (Should ***** well hope so too.) Good luck.

savetilibleed

Old_Slaphead wrote: »

Anyone any current (ie last week or so) experience of how long Saga are actually taking to present cheques?

My wife received and posted her application last week (18 Nov). She just checked her HSBC account and money still there.

As for me, I applied online a matter of a few hours later. I had to chase Saga several times. First we were told, for both, the forms would be posted 14th. Hers was dated 17th. When I phoned about mine, I was told 17th. It hadn't arrived on Sat 22nd so I phoned again and they arranged to have it sent by Special Delivery on Mon 24th and today I got it. I returned it with the cheque also by Special Delivery today. I felt I needed to pay £4.60 to guarantee it got there. I know there was time but, well, my money and especially my wife's has been hanging on a hook in current accounts waiting.

We'll see how long it takes now! :rolleyes:

Old_Slaphead

Thanks for comments.

My app says they will process cheque within 5 days of receipt. I'll photocopy that & send app 'next day delivery' post. If money isn't taken from my account within 8 banking days then I'll be asking them why not.

elektra

Old_Slaphead wrote: »

Thanks for comments.

My app says they will process cheque within 5 days of receipt. I'll photocopy that & send app 'next day delivery' post. If money isn't taken from my account within 8 banking days then I'll be asking them why not.

It was taken from mine on 8th banking day so as time goes on they should be getting quicker ( i.e clearing backlog).

maggiej_2

Old_Slaphead wrote: »

Anyone any current (ie last week or so) experience of how long Saga are actually taking to present cheques?

A word of warning!!! - I posted off my application form and chq by Recorded Delivery on Thrs 20.11. They (Saga) should have received this on Fri 21.11.
Apparently they did and the chq has just gone thru my bank account today Weds 26.11 so it has only taken max 3 banking days!! Unfortunately I was not expecting this to be so quick and expect to incur a fee for insufficient funds!! :mad: :mad: Was going to transfer money across tonight from savings account with A&L.

So be careful they have obviously got on top of things.

Veryunique_2

Just to update people on SAGA timescales.

After phoning yet again, it seems that my account is confirmed open today and the cheque "cleared" yesterday although the money still in bank this morning. This was application made on 6th November. I had to give ID but got that back yesterday.

Re application pack they claim to have sent on 13th, that is clearly lost. Replacement arrived this morning with stamped all over front that due high demand 10 banking days needed to process and if you contact them by phone "we will be unable to confirm receipt of your application".

Some Service . This rate is only being honoured until Friday 28th.