Bank of Scotland Instant Access Savings Account Reward - Further Query 20th Nov.

earlgrey_3

CHAPS normally costs £20-£30 so needs to be a sizeable transfer to make it worthwhile. I've used CHAPS with Natwest several times and it takes just five minutes to fill in the form. On the other hand, with Abbey had to go into a branch, took them over an hour to fill in the forms and required all sorts of ID, and then they failed to do the transfer on the required day. So the bank in question might influence your choice. Under 100k I'd use BACS.

evenasus

I consider it would be worth the CHAPS fee (Nationwide charge £20) to secure a home for my February maturing bond at the 5.8% fixed rate.

Just been looking at the Nationwide site and it talks about filling in a form and taking it to a branch or posting it to the main office.

Does this mean, I can't send it electronically from my flex account?
I've never done a CHAPS transfer before.

earlgrey_3

Ah, I opened a BOS account for a similar reason, gives me an option for several fixed rate accounts ending March and April.

I've always found I needed to go into a branch so assume Nationwide is the same. CHAPS is high risk if it goes wrong so they want your siggy. Abbey also wanted every bit of ID under the sun and hadn't a clue how to do it.

Baldur

evenasus wrote: »

Does this mean, I can't send it electronically from my flex account?

Looks like it, if you follow the instructions that you've already discovered to access the CHAPS form, you will be presented with the following when you click on the link for the form:

Please note: this form MUST be printed out and returned to Nationwide.

Nationwide may need to contact you when processing this form.

oshoshitzu

evenasus wrote: »

I'm afraid Nationwide don't do faster payments yet.
I do have a Halifax current account but it's only been used to transfer money to Halifax bonds and so £10 only kept in it.

Nationwide do faster payments on certain new & recently opened accounts.

Vectra

I just got email confirming my application BOS 5.8%

This is the worst application I have ever had to deal with its a work of art to finally get your form accepted anyone else had difficulty?
Sending cheque seems best way YBS pay interest from day they receive it.Put your own name and acct no if known on it.

evenasus

Originally Posted by evenasus
Does this mean, I can't send it electronically from my flex account?

Baldur wrote: »

Looks like it, if you follow the instructions that you've already discovered to access the CHAPS form, you will be presented with the following when you click on the link for the form:

Please note: this form MUST be printed out and returned to Nationwide.

Nationwide may need to contact you when processing this form.

OH RATS!!!

Cheque it is then, darn it.

Thanks Baldur

evenasus

Vectra wrote: »

I just got email confirming my application BOS 5.8%

This is the worst application I have ever had to deal with its a work of art to finally get your form accepted anyone else had difficulty?
Sending cheque seems best way YBS pay interest from day they receive it.Put your own name and acct no if known on it.

Do you mean you have received your email just now - as in today?

If so, then I'd do what I did after filling in the form...ring them and they will open it online for you straight away.

evenasus

evenasus wrote: »

I went through the process of filling in the online application. But after reading some posts re delays involved, I decided to ring them.
A very nice man told me to ignore my online application and he would open an account there and then.
I now have the account details, sort code, account number, roll number etc.:D

evenasus wrote: »

I went through the online process for this account last night.
Then having read other posts, I rang them and a nice man opened the account straight away.
So armed with a sort code and my account number, I went into my Halifax branch this morning and asked if I could bank a cheque to this Bank of Scotland account.
They took me into a room (didn't have to wait in a queue;) ) and did the necessary.
I do have accounts with Halifax already, so don't know if this helped the process.

Am I allowed another query?

I received a welcome letter this morning from BOS together with a form requiring my signature.
At the top of the form it reads...

I/We wish to save £________ in a Bank of Scotland Instant Access Savings Acccount Reward.

I/We wish to have interest paid....etc etc.

My query is, do I just put down the £5,000.00 that I deposited on Monday?
Is this just to confirm my deposit?

I did think at first that this form may have been raised due to my online application, which I was told to ignore.
Then I noticed that the roll number is the same, so can't be a different account.

I opened this account mainly as a nest, ready to accept my maturing Halifax fixed rate bond which matures in February. (rates probably pathetic by then)

Anyone else opened the account online and then received this form?

I thought I'd signed all I needed to on Monday.

Helvetica

I applied online on the 12th and received this letter today, which I've signed and sent back.

I notice that when I view this new account on the online BOS service (I already have an old Halifax web saver account) it is marked as "awaiting details". Presumably their waiting to get the signed letter back before activating it.

I'm going to phone BOS first thing tomorrow to see if I can do a fast transfer into the account even though it has an "awaiting details" status.

Sorely tempted to try doing so this evening ...