FP in and out for a savings account

Innys

Does anyone know if such a thing exists?

The answer used to be "Yes - Tesco" but that's, sadly, a thing of the past now.

atypical

NatWest, but they only offer 1% at the moment. Every now and then they offer a bonus which actually makes the account competitive.

Halifax is good in that if you have their £5 a month account you can transfer internally from their (normally competitive) savings accounts into it. From there you can make a faster payment out, obviously vice versa for paying in.

atush

I heard M and S do it, but don't knwo for sure.

noh

Innys wrote: »

Does anyone know if such a thing exists?

The answer used to be "Yes - Tesco" but that's, sadly, a thing of the past now.

What's wrong with Tesco?
Just tried a FP in and out. Still works for me.

psychic_teabag

atypical wrote: »

Halifax is good in that if you have their £5 a month account you can transfer internally from their (normally competitive) savings accounts into it. From there you can make a faster payment out, obviously vice versa for paying in.

I find Halifax FP rather unreliable - more often than not it declines to send a payment as faster, and does it as a slow BACS transfer. It seems to be less reliable the higher the amount - for bill payments and small transfers it might be okay.

Even though Lloyds vantage current account no longer has its advantage over savings accounts, for balances of 3k-5k you still get a competitive 3% with full current-account facilities, inc. faster payments (albeit with the hassle of circulating the £1k once a month). Plus you get access to their "secret" incentive saver account which is also paying 3% (assuming it's still available)- need to phone them to ask for it, since they don't seem to advertise it or even list it on their web site.

Innys

noh wrote: »

What's wrong with Tesco?
Just tried a FP in and out. Still works for me.

Doesn't for me. I sent £5k on Thursday to my Tesco account and Barclays, the sending bank, says Tesco did not process it through the FP system. Given the recent trouble with Tesco, I'm more included to believe Barclays than Tesco.

Even a "test" £1 transfer out of my Tesco account back to Barclays a week back took more than a day to arrive.

I think the days of Tesco FP are over and, therefore, their savings accounts are no more attractive to me than anyone elses.

hugheskevi

I sent money to Tesco on 30th June and 1st July and both were FP.

I've withdrawn Thursday, Friday and today from Tesco to external accounts, and all have been sent FP, with one of those withdrawals just under the £10K limit - all no problem.

Gaffy

Tesco FP works for me as well, although it's not instant like the good old days, it's more like an hour.

atypical

psychic_teabag wrote: »

I find Halifax FP rather unreliable - more often than not it declines to send a payment as faster, and does it as a slow BACS transfer. It seems to be less reliable the higher the amount - for bill payments and small transfers it might be okay.

I've not had any problems but the maximum I tend to send is £1,000 for the £5/month.

Innys wrote: »

I think the days of Tesco FP are over and, therefore, their savings accounts are no more attractive to me than anyone elses.

Their site still says "Faster Payments are fully supported by Tesco Savings".

It's quite a big thing to have got rid of without informing anyone. But then they've managed to be quite incompetent over the last few weeks I've heard...