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Fast transfer to A&L esaver2 is risky
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YorkshireBoy wrote: »I'm not clear what you've done?
Did you 'push' the first payment from the HSBC website by 'FASTER PAYMENT', or 'pull' it from the A&L website via direct debit?
And what about the second (successful?) transfer...how did you initiate that?
The first attempt was done via the HSBC internet banking website. Here I used the A&L sort code 72-58-10 and esaver account number as instructed by A&L in their correspondence when I first opened the account 3 days ago. HSBC website confirmed the transfer. I rang HSBC later to determine whether it was a fast transfer and had the money left my account, and HSBC replied in the affirmative. My HSBC bank summary indicated that the money had left my account as well. But it did not show up in my A&L esaver2 account summary the next day. Hence the subsequent thread in this forum.
Later today I had another look at my HSBC summary and was suprised to find a "reverse transaction" and the money had ben returned to my HSBC account. Made no sense.
I revisited A&L internet banking website. On the left side of the page, at the bottom there was a drop down box labelled "quick transfer". There was the option to transfer into esaver2 or out of esaver2 from my linked HSBC account. (This link had been established when I opened the esaver account 3 days ago online). I used the "transfer to esaver" option this time and the 10K went through immediately. A dated receipt was offered to be printed out as well.0 -
The first attempt was done via the HSBC internet banking website. Here I used the A&L sort code 72-58-10 and esaver account number as instructed by A&L...I revisited A&L internet banking website. On the left side of the page, at the bottom there was a drop down box labelled "quick transfer". There was the option to transfer into esaver2 or out of esaver2 from my linked HSBC account. (This link had been established when I opened the esaver account 3 days ago online). I used the "transfer to esaver" option this time and the 10K went through immediately. A dated receipt was offered to be printed out as well.0
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YorkshireBoy wrote: »Hang on a second!!! That procedure uses direct debit...are you saying that the transfer (which normally takes 3 days in my experience) took place immediately? If you are, I'm amazed!0
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I have an HSBC current account linked with A&L eSaver... gets there instantly (upto 2 hours on weekends)..... 'quick transfer' method uses direct debit, that take 3 days!0
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Could this be confirmation that the payment has been processed successfully, rather than received into the account?
Something that is puzzling me here is this statement...(This link had been established when I opened the esaver account 3 days ago online)0 -
Could this be confirmation that the payment has been processed successfully, rather than received into the account?
You maybe right. It still doesnt show in my esaver account.
I clicked on the information button next to the "quick transfer" sign and this info came up:
Information: Quick Transfer
Quick transfer provides an easy way to make a one-off payment/transfer to leave today to someone you have paid before or to another of your registered accounts.
I presume my esaver is a registered account?0 -
Quick transfer provides an easy way to make a one-off payment/transfer to leave today to someone you have paid before or to another of your registered accounts.
I presume my esaver is a registered account?0 -
YorkshireBoy wrote: »Plus, A&L used to say to allow 8 days for your first DD pull to be actioned/completed...which is why we always recommed pulling £1 first, and waiting, before pulling any high value sums in. Do they still?0
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I wouldn't worry too much about the loss of 3 days interest as, in the grand scheme of things, the esaver2 will only be paying about 4% at the end of the month and about 3% by the end of December0
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