Switching From Issue 3 Bradford&Bingley

Veryunique_2

I have two questions about switching from B&B's issue 3 to the newer issue 7:

- I see that it is now
possible to apply for issue 7 after you have logged on. Do you still follow the tip I read on here ages ago about ignoring the request for linked account details ?

- My current issue 3 had interest paid annually in July as I had little money there but I want to change this to monthly as I am going to be depositing a largish sum for about 6 months. Is it possible to switch to issue 7 and change the frequency of interest payments at the same time without having to start from scratch ?

Many thanks for responses

evenasus

You don't log in.
Just go through the motions of applying for the issue 7. But read this thread first as it has the details about leaving the linked account blank.

http://forums.moneysavingexpert.com/showthread.html?t=1353699&highlight=bradford+bingley+issue+6

Veryunique_2

Well I have made the application following your advice about the blank nominated account. I was somewhat thrown at the end when asked for my bank account details for the monthly interest . I thought putting them in at that stage might invalidate the whole thing so I opted for monthly interest to be added to the account. That is probably more sensible in any case as I will be taking money out on quite a regular basis for several months.

I have received confirmation email. I assume that this is standard stuff because I obviously don't need the welcome pack or web ID to log in. I just have to wait 24hrs to see whether it has worked OK.

evenasus

Veryunique wrote: »

I have received confirmation email. I assume that this is standard stuff because I obviously don't need the welcome pack or web ID to log in. I just have to wait 24hrs to see whether it has worked OK.

Yes, that's right. You should be able to see your account when you login in the morning. Then just transfer your whole balance of issue 3 to your new issue 7.
I would take a screen print of your issue 3 statement though before you make the transfer. Always wise.

Veryunique_2

The transfer has been rejected !
The reason is stated as uncleared transactions outstanding so account cannot be closed.
I knew there was some reason why I hardly used that issue 3. I cannot get my head around the time lags between requesting money be moved from my bank and it being processed (4 days in this case) and then money that has been processed (today) not being available until however many days later. Is it another 3 days before the funds are cleared and I can try again ?

evenasus

As Stavros said in another thread re Bradford & Bingley E Savings issue 7.

Stavros wrote: »

In total agreement, its scandalous that funds are removed from bank A today, arrive electronically at the B & B the same day, yet it takes 6 days to be accessed.

Having to transfer money from our joint current account to my linked flex account and then tell B & B to pull the funds into my E Saver... That's six days of lost interest.
Hence, I only fund the E Saver when I don't know what else to do with savings money.