Yorkshire Bs E-savings Acc ?

Can you make the inital payment into this account
direct from a branch based account, or must
it be in the form of a cheque sent to them ?

Thank you.
«1

Comments

  • I have this e-saving account myself, you post your cheque with your form and a few days later you will get your account details via the post. Once the account is opened you can then go to the branch and transfer money from your other accounts e.g. YBS Access saver.
  • metrobus
    metrobus Posts: 1,784
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    Thanks for the very clear and fast reply.

    You say once the inital deposit is made by
    cheque I can make transfers at the branch
    using other YBS accounts I hold.

    I thought all other transactions after the inital
    deposit had to be done online .
  • Well, I transferred my YBS 1 year bond to the e-saving account the other day. The transaction was done instantly in the branch.
  • Kilty_2
    Kilty_2 Posts: 5,818 Forumite
    Does it matter if the cheque is made out by someone else other than the person opening the account?

    I don't have a cheque book and can't get one :D
  • YorkshireBoy
    YorkshireBoy Posts: 31,541
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    Kilty wrote:
    Does it matter if the cheque is made out by someone else other than the person opening the account?

    I don't have a cheque book and can't get one :D
    You don't need to send a cheque to make the initial payment.

    The letter that accompanies the forms to sign states "If you want to make your initial deposit by cheque..."

    It's perfectly possible to open the account with a zero balance, although they "prefer (YBS word, not mine) a cheque so we have a signature on file"(!) When I pointed out that they would have a signature on my account opening papers, they couldn't muster up a reply/reason for the cheque signature! Anyway, I still sent a cheque for £1 to avoid any possible delay in getting the account operational.
  • anniecave
    anniecave Posts: 2,441
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    Save&Spend wrote:
    Well, I transferred my YBS 1 year bond to the e-saving account the other day. The transaction was done instantly in the branch.

    With that I think (tell me if you are wrong) you closed the 1 year bond (or it matured) and they transferred the balance into your e-savings account? That means that when they closed the account, they transferred the money in. So that's OK as per their conditions.

    What the conditions for the e-saver mean is that you can't pay cheques and cash into your e-saver after the account is opened, you can only transfer in electronically (from other accounts via bacs or transfers).

    Does that make sense?
    Indecision is the key to flexibility :)
  • Kilty wrote:
    Does it matter if the cheque is made out by someone else other than the person opening the account?

    I don't have a cheque book and can't get one :D
    That's fine. It's only Cash ISAs that require a cheque from your personal account.

    Although a cheque from your own account can often be useful for ID purposes.
  • anniecave wrote:
    With that I think (tell me if you are wrong) you closed the 1 year bond (or it matured) and they transferred the balance into your e-savings account? That means that when they closed the account, they transferred the money in. So that's OK as per their conditions.
    The 1 year bond matured, so I closed the bond and transferred all the money to the e-saving.
  • Bisoy
    Bisoy Posts: 873 Forumite
    I have just applied online today and was successful. I've have sent the signed application form with £1.00 cheque. I opted for a monthly interest paid as it keeps me very motivated seeing my savings grow.

    Cheers
  • Chadsman
    Chadsman Posts: 1,100
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    I regularly pay in cash into my cash transactor account and then immediately transfer (in branch) the lot to my e-saver. The girl behind the counter asked why I went through the rigmorale last time I did it so I had to explain it to her!
    Alternatively you can pay in a cheque and then return a few days later for the transfer or write to Head Office requesting a transfer. It does seem a bit daft you cant transfer into the esaver online.
    God save the King!
    I'll save Winston Churchill, Jane Austen, J. M. W. Turner and Alan Turing.
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