abbey e saver

beattiesman

had a abbey esaver for a long time .intrest rate on it is now no good.want to transfer to a better rate at a different building society.when i try to transfer the money out the form asks for your other banks sort code & your account no.also asks for their reference number(your other bank) .anyone any idea what ref no they are on about.also how much a day can you get out of an atm with a abbey cash . card

withnell

Cash: you can take out 300 from ATM, or 500 over the counter if you push it across into current account. Give them notice and you can take out as much cash as you want over the counter.

Dependant on what product you are moving too, if they have one sortcode/ac no to make payments into the account for everyone, the reference is your account number. If you have your own dedicated sc/ac no combo then it's not required - I normally put my name in the box!

cottager

beattiesman wrote: »

when i try to transfer the money out the form asks for your other banks sort code & your account no.also asks for their reference number (your other bank). anyone any idea what ref no they are on about.

I've been moving most funds out of my eSaver too!

The reference number asked for is a payment reference, and whether you need one depends where you want to move the money to. If it's an account with its own sort code and account number (so the payment will go straight into it, like a traditional bank current account), then you don't really need a reference number at all, although I usually put something in there to remind me what it is (e.g. Abbey to NatWest). Or you could put your own name in there as a further reference for the receiving bank at the other end.

But some building society and other accounts can accept inward deposits too, but they (the accounts, I mean) don't always have their own sort code/account number. To send payments to one of these you would use the main sort code and account number for the bank/society concerned (which they will always give you if you can't find it), then quote your account number with them (as in your passbook, online banking or whatever) so it's credited correctly to your own account. In this case you need to be sure or check that the account you want to send your money to can accept an inward deposit in this way.

savetilibleed

Some building societies have a slightly different method. Whilst there will be a sort code for the building society, the account number will be the first 8 digits of your account number and the reference number is the full account number. As in the previous reply, you do need to make sure the institution you are paying to will accept payments like this. Some (many) only accept payment to and from your own chequing account by a direct debit that is set up when you apply for the savings account. In other words you have to send money to your chequing account first from the esaver, then once there, go to the online account of your new building society account and set up a one off payment by DD from your chequing account to your savings account.

Much quicker usually if you can do it in one step as you are trying to do of course.

benny123

i have'nt ben able to get through to helpline so wonder if someone could advice
i am trying to move some money from my bank into e-saver, pressed the button for 'moving money' but did'nt seem to work, presumably this is the way to do the transaction if have previously lnked the bank details to e-saver
thank you

savetilibleed

benny123 wrote: »

i have'nt ben able to get through to helpline so wonder if someone could advice
i am trying to move some money from my bank into e-saver, pressed the button for 'moving money' but did'nt seem to work, presumably this is the way to do the transaction if have previously lnked the bank details to e-saver
thank you

Is this the Abbey online banking site you are talking about or another bank's site? I have an esaver and a Flexible Saver both of which are viewable on their online banking site and I can move money between the two on using the Move Money link. If I want to move TO Abbey esaver from an external bank (mine is Lloyds) I have a transfer account set up with Abbey esaver account number and sort code.

Looking at the Abbey site it looks as though you have to set up a nominated account by phoning them (perhaps you previously did that). I don't have such a setup - if I want to pay in I either pay cash into my Flexible saver then transfer, or pay from my Lloyds account or any other account that allows stansfers this way. I haven't make payments in to Abbey since the Faster Payments scheme came in so don't know if it will still be slow (several days).