Extended FSCS Guarantee -account rationalisation

D1zzy

Mikeyorks wrote: »

The Halifax BACS limit is £15k .... but you can do multiples. But then you wouldn't be saving with Halifax?

Oh yes I do ..........................3 x £1 in reward accounts

Rollinghome

D1zzy wrote: »

mmmmm..... Cheques, forgot about them - can't remember when I last wrote one.

....when is it that they finally disappear?

To be phased out by October 2018 "but only if adequate alternatives are developed" whatever that might mean. What will the alternative be for a piece of paper that can be posted in an envelope and taken into a bank or put in a bottle for the milkman I wonder?

I thought cheque guarantee cards were to be phased out much sooner but I had a new £250 guarantee card from NW last month valid to April 2014.

D1zzy

Rollinghome wrote: »

I thought cheque guarantee cards were to be phased out much sooner but I had a new £250 guarantee card from NW last month valid to April 2014.

From nationwide today with new debit card - guarantee scheme ends 30th June 2011

Rollinghome

D1zzy wrote: »

From nationwide today with new debit card - guarantee scheme ends 30th June 2011

Good old Nationwide. So in the forefront for phasing out guarantee cards, right up there in banning counter withdrawals under £100 - pity they couldn't have shown the same eagerness for introducing FP. Limit still only £1000.

PS. Says all banks including NW/RBS will end use of guarantee card by June 2011, so perhaps NW had printed my card and didn't want to waste it. Odd that it runs to April 2014 and not 4 full years. http://www.ukpayments.org.uk/media_centre/press_releases/-/page/719/

Loughton_Monkey

Stompa wrote: »

Update: Or perhaps I've misunderstood, maybe you meant initiating multiple £10k BACS payments on the same day.....?

That's indeed what I meant.

Mikeyorks

D1zzy wrote: »

Oh yes I do ..........................3 x £1 in reward accounts

CHAPS is a bit excessive there - I would tend to use FP if you want to move that out. Even Halifax should manage that !

D1zzy

Mikeyorks wrote: »

CHAPS is a bit excessive there - I would tend to use FP if you want to move that out. Even Halifax should manage that !

Don't bank on it - OH infomed me this morning that moving MIL's money (I don't get involved with that!!), even small amounts from her Websaver Extra to her current account takes 48hrs...... Its an account with POE maybe that makes a difference.

Mikeyorks

The WebSaver should be instant .... so the POE may be a reason. But I've got a Guaranteed Saver ..... and that, bemusingly, takes 48hrs. Can't find anything in the T&Cs .... so it's about to be shot. It's only there, from recently, for an instant back up to Reward accounts I run virtually dry (but they are our normal current accounts so fairly active). So it will be back to whole reliance on Vantage ..... for the smallish liquid cash I keep outside of funds.

But the reaon for the 'exclamation' was that I rarely use FP in excess of £1k out of Halifax ... and have never had problems. Until a month ago when I tried to move £1.2k to a plumber .. and it wouldn't go. Eventually did it as £1k and £0.2k via FP on consec transactions within minutes of each other. Put it down as a Halifax blip until I came to pay him a £1.7k balance last week ... and had a repeat performance. Again circumvented by £1k + £0.7k within seconds of each other. And I thought they were getting a grip?

Fat chance of them getting you your 100k limit any time soon!

nzseries1

D1zzy wrote: »

Oh yes I do ..........................3 x £1 in reward accounts

You only need £0.01 in each... so you're missing out on the interest on £2.97! How have you possibly coped?