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Derbyshire Building Society 3.06% AER easy access
Comments
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Has anyone had experience of transfering money out of these accounts? If I withdraw money today to an outside account, when will it reach its destination? Do I lose a day's interest?
I tried transfering money yesterday from my NetSaver 3 to my NetSaver 1. As of this morning, it is not showing as having happened.0 -
buffman, I had the same problem as you. I transferred money from my new NetSaver3 to my NetSaver1 and it didn't happen. I sent a secure message and the reply said try again as they didn't know of a fault their end. It worked the second time, which was on a Friday before the cut-off time of 11pm. The Saturday morning update showed the money out of one account and in the other both dated Friday, so no interest lost. I wonder whether the original transaction failed as my £1,000 cheque hadn't cleared properly, although their system said it had.
I have tested money out and that has worked. You do lose a days interest though. Put the request in by 11pm on Sun-Thurs and it leaves the account that day and is sent by FPS the next working day.
Note for maximum interest on money paid in that they work NatWest hours, so to get the credit showing on the day you deposit the money you have to pay in by 6.30pm Mon-Fri.0 -
It looks like you need to double check all your transactions with Derbyshire BS. They have now managed to duplicate a withdrawal on an account that only allows one withdrawal a day. I set up a withdrawal for £5k+ last Sunday and logged in to my nominated bank account early on Monday morning. I found the funds there as expected and moved the money on. On checking my bank account later in the week, I found that DBS had made a second FP deposit for an identical amount later in the day on Monday. They took the money for this unauthorised transaction from my NetSaver account on Wednesday, showing this as an "Adjustment".
They haven't bothered to notify me of their error, which could potentially have resulted in over £5k earning nothing in a current account for weeks instead of the 3.25% I thought it was earning with them. In several years of banking online with a number of different providers, I have never before had a transaction fail to be actioned or be duplicated and they have managed to do both within a month. In the case of the failed transaction they didn't even have an audit trail to show that their error had actually happened. I am not impressed. Caveat emptor.0 -
buffman, I had the same problem as you. I transferred money from my new NetSaver3 to my NetSaver1 and it didn't happen. I sent a secure message and the reply said try again as they didn't know of a fault their end. It worked the second time, which was on a Friday before the cut-off time of 11pm. The Saturday morning update showed the money out of one account and in the other both dated Friday, so no interest lost. I wonder whether the original transaction failed as my £1,000 cheque hadn't cleared properly, although their system said it had.
I just gave them a call to be told that the cheque didn't clear until Friday, and they have no record of a pending transaction. It doesn't exactly fill you with confidence!Stompa0 -
Secure message sent to Derbyshire BS today:
In case any of your senior managers are actually interested in how inadequate your online savings processes and systems are, you might want to direct them to my 2 posts (bob792 #23 #24) on the MoneySavingExpert.com forum: [link]
Wonder what response I'll get ?0 -
I've just had exactly the same problem. I deposited my £1000 cheque, waited until it was shown as having cleared (which was Thursday), then made a transfer from issue 3 to issue 1. That transfer is still not shown as having taken place.
I just gave them a call to be told that the cheque didn't clear until Friday, and they have no record of a pending transaction. It doesn't exactly fill you with confidence!
Similar problem here.
Transferred £999 from the issue 3 to the issue 1 (on 22nd or 23rd March) after the £1,000 cheque had shown as cleared into the issue 3. The initial cheque had taken about a week to clear (which is consistent with the 6 working days it says in the terms and conditions). The transfer was made almost immediately after the cheque had cleared, so don't know if that is what has caused the problem
All looked to have gone OK, but on logging in today the £999 is now back in the issue 3 with no sign of the transfer having taken place
I've just rung up their savings on-line help. Initially they said internal transfers weren't possible you can only transfer back from the issue 3 to the nominated account and then into the issue 1 :rotfl:
I assured them the option did exist to make an internal transfer and had just had a second attempt to internally move the money across that seemed to be pending. They checked and it is. But there is no trace of the initial internal transfer having been requested and having failed.
Looks like I am ringing back Monday to try and sort out what has gone wrong as only their finance department can look into this and they only work Monday to FridayI came, I saw, I melted0 -
Similar problem here.
Transferred £999 from the issue 3 to the issue 1 (on 22nd or 23rd March) after the £1,000 cheque had shown as cleared into the issue 3. The initial cheque had taken about a week to clear (which is consistent with the 6 working days it says in the terms and conditions). The transfer was made almost immediately after the cheque had cleared, so don't know if that is what has caused the problem
All looked to have gone OK, but on logging in today the £999 is now back in the issue 3 with no sign of the transfer having taken place
I've just rung up their savings on-line help. Initially they said internal transfers weren't possible you can only transfer back from the issue 3 to the nominated account and then into the issue 1 :rotfl:
I assured them the option did exist to make an internal transfer and had just had a second attempt to internally move the money across that seemed to be pending. They checked and it is. But there is no trace of the initial internal transfer having been requested and having failed.
Looks like I am ringing back Monday to try and sort out what has gone wrong as only their finance department can look into this and they only work Monday to Friday
Just spoken to Derbyshire on the phone and (via their finance department) they confirmed that I had actioned the transfer on the 22nd March. But they say the cheque hadn't cleared until 23rd, despite their on-line system showing the cheque had cleared on 22nd March when the internal transfer was actioned.
It appears to be an IT problem from their end, that their on-line system tells you the initial cheque has cleared at least one day before it actually has cleared in practice and so a swift internal transfer gets reversed. When this happens the customer gets no notification that has happened.
They didn't seem too concerned about it (which is a bit worrying) but eventually they have agreed to report the fault in their systems to their IT department.
Certainly my advice would be to keep a separate record of all transactions on Derbyshire on-line savings accounts as I don't think their on-line system can be trusted.
In particular don't trust the Derbyshire on-line item 'cleared balance' which erroneously is showing some uncleared balances as cleared.I came, I saw, I melted0 -
They didn't seem too concerned about it (which is a bit worrying) but eventually they have agreed to report the fault in their systems to their IT department.
Certainly my advice would be to keep a separate record of all transactions on Derbyshire on-line savings accounts as I don't think their on-line system can be trusted.
In particular don't trust the Derbyshire on-line item 'cleared balance' which erroneously is showing some uncleared balances as cleared.Stompa0 -
My application form has been sat on my desk for a week, and I've been constantly snoozing an Outlook reminder to post them a cheque. But it's hard to get motivated to do it when you're not sure you'll need the insurance policy when Issue 1 runs out, you'd have to earn no interest for over a week on £1k, and the Nottingham BS have got a 3.2% product out with excellent feedback so far...0
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