Kaupthing Edge/ ING

LesU

nig0609 wrote: »

After accepting the 6 month offer this evening, part of the confirmation message was "Why not transfer more funds into your new ING Direct Savings Account to take full advantage of the new rate? All you need to do is select where you want to move funds from and transfer them to your new ING Direct Savings Account."

Under move money there was no option to add funds expect using the sortcode and account number from an external source i.e. from Lloyds TSB internet banking etc, or cheque - but who uses those anymore :rotfl:

What's the problem with using BACS/CHAPS/Faster Payments from your bank or a cheque to transfer funds in?
I see my linked account information has been moved over to the new account to allow transfers of money out. So I can move money in or out as I need to.

LesU

noh wrote: »

I guess we have to set up the linked bank account again?
This will set up a DD.

My linked account is still showing as Nationwide.
From the ING T+Cs

"You must give us a Direct Debit instruction for each linked account you hold with us. You must not
cancel the Direct Debit instruction while you have the relevant linked account. Your Direct Debit
instruction will end if you do not use the Direct Debit facility for 13 months. You will then need to
set up a new Direct Debit instruction. Apart from your first deposit, you cannot normally ask us to
transfer funds between your savings account and a linked account unless we have a valid Direct
Debit instruction for that linked account."

I see what you mean from the T&C's. I've just set up an instruction to transfer £10 out of my account to my linked account. There is no direct debit set up. I'll see what happens.
There was no instruction from ING to tell you to set up a new DD, it only said to cancel any existing regular payment instructions. I never had a DD set up for K-E.

LesU

OK. The update on my moving money out of my new account. The transfer from my new ING account to my linked Cahoot account went perfectly. I haven't got a DD set up in my Cahoot account. I just issued an instruction to transfer and it happened as requested.