Barclays Monthly Saver

johnmoney05

Biggles wrote: »

Edit: I've just noticed that you were referring to an 'authentication card'. I haven't got one of those, or seen a suggestion that I need one.

If you need to make a payment to other account, you will need an "authentication card".

Biggles

johnmoney05 wrote: »

If you need to make a payment to other account, you will need an "authentication card".

Is that when you use something called PINsentry?

There's no mention of that in my letter, indeed it tells me that with the membership number and passcode I can now 'enjoy an easy way to bank, check recent transactions, transfer money between accounts and much more'.

If I click on 'Transfer money' within online banking there's no mention of any steps involving authentication.

However, I do notice there's another link on the left-hand side, 'Upgrade to PINsentry'. Have you got that? I assume that's optional, in which case I shall certainly not opt for it!

Baldur

Biggles wrote: »

Is that when you use something called PINsentry?

There's no mention of that in my letter, indeed it tells me that with the membership number and passcode I can now 'enjoy an easy way to bank, check recent transactions, transfer money between accounts and much more'.

If I click on 'Transfer money' within online banking there's no mention of any steps involving authentication.

However, I do notice there's another link on the left-hand side, 'Upgrade to PINsentry'. Have you got that? I assume that's optional, in which case I shall certainly not opt for it!

This post may clarify - http://forums.moneysavingexpert.com/showthread.html?p=22189669&highlight=#post22189669

Biggles

Baldur wrote: »

This post may clarify - http://forums.moneysavingexpert.com/showthread.html?p=22189669&highlight=#post22189669

That just seems to show how it works when you have PINsentry.

I'm not sure why some accounts are set up without it and some with.

johnmoney05

Biggles wrote: »

That just seems to show how it works when you have PINsentry.

I'm not sure why some accounts are set up without it and some with.

If you want to transfer out money from your account (the payee is not already in your list), you need to upgrade to Pinsentry to set up new payee entry. At the moment you might not need it, but when the account is matured. And if you want to transfer out your savings. You need the Pinsentry. Or you can go to branch to withdraw your savings.

Calchas

I've had a quick read through the thread and couldn't find what I was looking for. Apologies if I missed it!

My question is as follows:

Does this account operate similar to the Halifax Regular Saver, in as much as the end of one term and the beginning of another is seamless?

I notice I still have my standing order set up for an August payment to the Barclays Monthly Saver, which will, in theory, be the start of another account.

Am I better to cancel the standing order and simply apply for another savings account when this one expires?

RayWolfe

No, it does not continue like the Halifax.

StH

12. During the 12 month term and subject to making no withdrawals the account must be open on the first day of the month in order to earn the higher rate of interest for the previous calendar month.

Don't understand this from the T&Cs ... is there an optimum time of the month to open this account?