Santander - can't pay interest gross

Be_Happy

Thanks. This is exactly what I was thinking of. I was puzzled as it never seems to be mentioned.

I'm reading through the links now.

vigman

mgdavid wrote: »

Please read the (short) thread, especially post #14.

Thanks for that. I have been so ill recently that nothing I read made sense even going through the postings several times!

Vigman

vigman

Easy to set up tax status on my wife's account. However when I went to 'pull money from an external account' to finance the 123 account it says that this is not available for this account?

I'm sure on my 123 account it was straightforward to set up a nominated external account online. This is what I used to finance the account and for the £500 in and out routine?

Vigman

Archi_Bald

vigman wrote: »

Easy to set up tax status on my wife's account. However when I went to 'pull money from an external account' to finance the 123 account it says that this is not available for this account?

I'm sure on my 123 account it was straightforward to set up a nominated external account online. This is what I used to finance the account and for the £500 in and out routine?

You seem to confuse current and savings accounts. You can't pull money into a 123 current account (or any other current account anywhere else), you never could - you need to send it in from another account. Either by SO or manually.

vigman

Archi_Bald wrote: »

You seem to confuse current and savings accounts. You can't pull money into a 123 current account (or any other current account anywhere else), you never could - you need to send it in from another account. Either by SO or manually.

I was just going to post a follow up saying how confused I am at the moment and realised what I needed to do......illness plus lots of things going wrong have made me even confuse my own name!!!!

Of course I must push the money from our Barclays account!

Apologies for time wasting in the forum!:D

Vigman

vigman

However.....I did a test transfer of £10 to Santander from Barclays and it went through in minutes.

I then tried £9900 knowing the £10k limit and was told to choose a sum less than £10k, so I tried £9900 (from well funded Barclays account) and got:

"Your payment has been delayed
because we need to perform some extra checks to protect your account from potentially fraudulent activity. As a result, your payment is scheduled for 22 December 2014. Your account balance will not be updated until this payment is made. To ensure your payment is made, you will need to have enough cleared funds in your account on the previous working day."

Makes me want to scream!!!!!!!!!!!!!!!! :mad:

Vigman

badger09

vigman wrote: »

However.....I did a test transfer of £10 to Santander from Barclays and it went through in minutes.

I then tried £9900 knowing the £10k limit and was told to choose a sum less than £10k, so I tried £9900 (from well funded Barclays account) and got:

"Your payment has been delayed
because we need to perform some extra checks to protect your account from potentially fraudulent activity. As a result, your payment is scheduled for 22 December 2014. Your account balance will not be updated until this payment is made. To ensure your payment is made, you will need to have enough cleared funds in your account on the previous working day."

Makes me want to scream!!!!!!!!!!!!!!!! :mad:

Vigman

It is quite common for banks to delay payment in these circumstances, as fraudsters apparently often try a small test payment followed by a much larger one - but then so do most sensible people :cool:

At least you know your bank is looking after your account and the loss of interest is around £2.44, so not really worth screaming about or upsetting yourself

vigman

I know. Seems OTT but it just comes on top of a week of the cambelt snapping after 35k and writing off my Scenic engine, a broken diverter valve on the hot water system, my quality CD player failing and finally yesterday the tragic deaths and injuries of some close friends......!

Vigman

badger09

vigman wrote: »

I know. Seems OTT but it just comes on top of a week of the cambelt snapping after 35k and writing off my Scenic engine, a broken diverter valve on the hot water system, my quality CD player failing and finally yesterday the tragic deaths and injuries of some close friends......!

Vigman

My condolences re your friends.

It always hits harder when this happens around the festive season.
I lost my lovely brother, suddenly, aged 61 on New Year's Eve 1996, so I never really feel like celebrating

The other things on your list are annoying, frustrating and probably costly. But, to be honest, as you say you've been ill, I think you need to be kind to yourself and 'stop sweating the small stuff'

murphydavid

Tuesday_Tenor wrote: »

ARM10

Having been a previous A&L customer and only just finding my way round the Santander online system, I discovered this yesterday:

There is an option online to register current accounts and e-savers for gross tax. (Bonds don't appear online).

Within the accounts, goto 'My Details and Settings' and then 'Change personal details'. One of the options there is 'Change tax status'.

I found that my current account was registered for gross, as expected, but my e-saver set up a month ago, and for which an R85 had been sent, was NOT! So have changed it. May mean I get taxed on interest for a few weeks. Teeny amount not worth claiming back, but grrrr .... when I filled in all the right forms!

In fact, I find this online ability to change status rather 'lax'. No mention of reasons for doing it, no declaration that income below threshold, no reminder to change if income goes above threshold .....

So, useful for me. but is it a loophole that anyone could so easily switch. Or doesn't it matter due to info passed from banks to HMRC?

If like me you look at the last comment in the thread for the answer I just promoted this to that position.
Thanks for this (I am unable to press the thanks button as its not there anymore) you are better than the Santander help page and saved me time.

Thanks again