Birm Midshires/Saga fixed-rate cheque clearance times

cos69

maggiej wrote: »

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.

Friday to Wednesday, I think thats 4 working days although I suspect they may be working over the weekend to handle the backlog.

Posted my application on Sunday, so they should receive Tuesday and cheque maybe cleared this Friday. So on your experience, I will make sure the funds are there for Friday; thanks

meunier

I called SAGA today -- all these calls are an expensive matter -- the operator told me they were working on post from 17th November today. I sent a cheque for £7,000 on the 17th overnight/recorded so I trust they should be handing this in the next couple of days. The chaps payment I made into this account of £36,000 has already been posted.

savetilibleed

Veryunique wrote: »

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.

Clearly says on the letter I received yesterday with the form (which was returned with cheque same day) "Remember, to guarantee you receive this rate, please return your application by 30 November 2008."
This rate being 6.64% gross/5.31% net for Monthly interest.

Where did you get the date of 28th from? Mind you that must be the last working day of the week, Friday.

I returned my stuff by Special Delivery and today I checked Track & Trace and they (Royal Mail) confirmed delivery today before the guaranteed time, from their Wolverhampton office.

So. Can do not more than wait for our money not to make interest yet. I only stuck with it because it was a good rate. We were happy with Saga for their insurance services.

Veryunique_2

savetilibleed wrote: »

Clearly says on the letter I received yesterday with the form (which was returned with cheque same day) "Remember, to guarantee you receive this rate, please return your application by 30 November 2008."
This rate being 6.64% gross/5.31% net for Monthly interest. Where did you get the date of 28th from? Mind you that must be the last working day of the week, Friday.

I returned mine by Special Delivery and today I checked Track & Trace and they confirmed delivery today before the guaranteed time, from their Wolverhampton office.

So. Can do not more than wait for our money not to make interest yet. I only stuck with it because it was a good rate. We were happy with Saga for their insurance services.

Yes we are talking about the same rate. Because 30th November falls on Sunday they really mean 28th their last working day. I only found this out by chance during one of my umpteen phone calls.

Grumpy_Old_Duffer

Damn you all Was ready to sign-up for the Saga Online Top 5 Tracker Account until I read all your problems on here.

My wife tried to get a TESCO account up and running but what a waste of time that is, having to keep returning forms by post at each stage of the process .... just gave up in the end after about 3 weeks of trying!!! Final letter to TESCO was to demand the account was closed and the cheque deposit was returned .... but told that would take upto 10 days!!!
This SAGA account sounds all to familiar to the TESCO fiasco!!!

Makes you wonder whether the Banks want our money or not

savetilibleed

Grumpy_Old_Duffer wrote: »

Damn you all Was ready to sign-up for the Saga Online Top 5 Tracker Account until I read all your problems on here.

I've got one of these accounts. Got almost nothing in it as I was getting better from others at the time. I opened it during Oct 08. Took a while!!

Upside - there was no need to send ID.

Can't remember exactly when I went online to open it, but I have a letter dated 10 Oct with an account number. In the post the same day that arrived I also had three identical letters, obviously in separate envelopes, each with a copy of the Direct Debit Guarantee contaning my linked account details! The 10 Oct letter required that I send a cheque from the linked account for validation. That was deposited in the account 20 Oct. On 21 Oct I got sent an "access token" by email, needed to activate the account. Then I had a letter dated 21 Oct (guess that must have arrived 22 Oct) with the username. Then I finally activated the account!

Having the Online Tracker did simpify the FR Bond in that I didn't need to provide ID. Didn't speed it though-yet! :rolleyes:

Many of these account take a long time to open. When I opened my YBS Internet Saver I had to send ID so took a long time. The Bradford & Bingley Internet Saver 3 was quickest from memory.

Veryunique_2

I sent an additional cheque to BM yesterday for delivery before 1pm today. When I first checked the Trace online it did confirm delivery by Wolverhampton
post office in time but when I checked by phone the automated answer was item delivered at 7.55am . I hope the BM post room was manned then . According to the PO Advisor if there is noone at home they put a red Sorry you were out card in the letterbox. That does not seem a great service for £4.60p.

I suppose I will have a repeat tomorrow for Kent Reliance.

earlgrey_3

meunier wrote: »

I called SAGA today -- all these calls are an expensive matter -- the operator told me they were working on post from 17th November today. (26/11)

Seems all over the place.

Phoned today and was told by very helpful lady that they were working on apps received 24/11, i.e. the day mine was delivered. (Hurray!) But my account hadn't been created and she didn't expect that to happen till next week. (Boo!) She also added that it would be six days after the account was opened before the cheque was presented and agreed it would be a good idea to move the cash from current to deposit till then and to phone next week. (Confused.)

cos69

Grumpy_Old_Duffer wrote: »

Damn you all Was ready to sign-up for the Saga Online Top 5 Tracker Account until I read all your problems on here.

I opened one of those online; went smoothly got logon and account info in the post a few days later and returned with a small payment to open the account.

Not used it, but hassle free process to open

Old_Slaphead

Veryunique wrote: »

I sent an additional cheque to BM yesterday for delivery before 1pm today. When I first checked the Trace online it did confirm delivery by Wolverhampton
post office in time but when I checked by phone the automated answer was item delivered at 7.55am . I hope the BM post room was manned then . According to the PO Advisor if there is noone at home they put a red Sorry you were out card in the letterbox. That does not seem a great service for £4.60p.

Bloomin' marvellous innit?

My mail usually doesn't usually arrive until after 4:00pm which often means unother day's loss of interest on cheques.

As regards BMids postroom - I feel sure that it would open well before 8 - can't see postie arriving everyday and having to shove all their mail through letterbox !!