Regularly Beat the Best Savings Account Rates Discussion Area

Aerodiver

ukdutypaid wrote: »

Building society accounts, must have a Sort Code and an Account number, ignore the Roll/Ref bit...



Got to be Sainbury's IMHO....
Payments from ICICI and from ICESAVE are to one linked account only (contradict me if I'm wrong on the Icesave one).
So that's 3/4 day BACS from ICICI to your linked account.... and then 3/4 BACS from there (unless you're linked account is Llloyds/HSBC and your reg saver is with them also)

Doing it from Sainsbury's is 3/4 BACS to the destination account, so it halves the transfer time.... No you can't schedule payments though, so no SO's.
The flexibility to make payments from the Sain's account to multiple destinatations, more than compensates for the 0.05% AER lower rate of interest, to ICICI.....

Sorry ukduty, but you're wrong on both counts. You definitely cannot ignore the Roll/Ref: number for building society accounts! Else, your hard earned disappears into an anonymous collection account! Really stupid. You *must* use sort code, a/c number AND Roll/Ref for Abbey / YBS etc. Icesave can be linked to a number of accounts, but they seem to have problems with building societies, at least in my case.

Does anyone know for sure, and actually use the savings accounts to feed regular savers? Can you set up regular payments from savings a/c, like Icesave.

Woodyrocks

On the transaction page on Icesave you are able to set up a regular payment by clicking how often you want the payment to go on for. The choices are once, weekly, monthly or yearly.

You can also set up payments to building societies as well as banks.

Aerodiver

Woodyrocks wrote: »

On the transaction page on Icesave you are able to set up a regular payment by clicking how often you want the payment to go on for. The choices are once, weekly, monthly or yearly.

You can also set up payments to building societies as well as banks.

Nice one woody! Icesave bounced my original request to add Yorkshire BS for BACS saying account name didn't match (but it did). Might give them a call.

Anyone else confirm IceSave are OK for building societies?

Aerodiver

Aerodiver wrote: »

Nice one woody! Icesave bounced my original request to add Yorkshire BS for BACS saying account name didn't match (but it did). Might give them a call.

Anyone else confirm IceSave are OK for building societies?

Not good news :mad:

Called IceSave last night, talked through why they hadn't actioned my previous request to set up a BACS transfer to YBS. Eventually they conceeded they were unable to deal with building society accounts as their systems will only accept a name in the reference field.

e.g. sort code: 01-02-03 a/c num: 0123456 ref: Aero Diver a/c name: A Diver.

when it should be: s/c 01-02-03, a/c: 0123456 ref: 76543210ADIV a/c name: A Diver

Referred this to a senior adviser with same result, they're saying they can't do BACS to building society accounts that require reference/roll.

Accounts that do not require the roll no/reference field should be fine e.g. Nationwide, however Abbey/YBS passbook accounts will not work.

If anyone has managed different, please let us know how. Thanks!

Woodyrocks

Aerodiver don't let them stress you out. I also have a YBS account as well as a Nationwide account. Don't just take my word for it, for your own peace of mind pop into your local YBS branch to confirm, we are able to use just our sortcode and account no minus reference no' for setting up online payments arrangements.

ukdutypaid

Woodyrocks wrote: »

Aerodiver don't let them stress you out. I also have a YBS account as well as a Nationwide account. Don't just take my word for it, for your own peace of mind pop into your local YBS branch to confirm, we are able to use just our sortcode and account no minus reference no' for setting up online payments arrangements.

Yea but Aero is saying from a Savings account, such as Icesave or the new Sains one....

Making SOs from my C/A (if that's what you mean by your Nationwide account) can be done without the Roll ref number etc. That's why I was so certain of it when I first posted "ignore 'em" (lol felt a bit chided by Aero there. However if I was wrong I was wrong, it's that simple)
Looking forward to using the Sains as it will cut my current BACS transfer time, from ICICI by half..
Can't set them up regularly from Sains though.
Are we saying we can from ICESAVE, but that one can't make regular payments to YBS, cos "the system, she canna take it Captain".
Is that it?
To YBS from a C/A yes
To YBS from ICESAVE (regular payment or otherwise) no? I mean can't you just stick the Roll number on the payment as the payment reference. Then it would have sort no, account no and a unique ref i.e you own...

Stavros_3

I have switched my savings from the leeds BS paying 5.5% to Sainsburys whose rates are now 6.25%

jimbow25

Aerodiver wrote: »

Does anyone know for sure, and actually use the savings accounts to feed regular savers? Can you set up regular payments from savings a/c, like Icesave.

Woodyrocks wrote: »

On the transaction page on Icesave you are able to set up a regular payment by clicking how often you want the payment to go on for. The choices are once, weekly, monthly or yearly.

You can also set up payments to building societies as well as banks.

I don't use Icesave myself, but I think you'll find you have to have a single linked account to which you can 'push' money, and this has to be a current account rather than any kind of savings account.

I don't know what the best savings account that allows standing orders out, to other accounts, is, but I don't think icesave, ICICI or Sainsbury's fall into that category (from what it says further up this thread).

littlemissmoney

How do you get money out of the Yorkshire Building Society regular saver? Do you have to visit a branch because my closest one is miles away :rolleyes: Plus can you check the balance without a trip to the bank? I've just received my "passbook" (which I thought were extinct!) and now I'm thinking online banking might be out of the question... :rotfl:

RayWolfe

No, you can get it out by post and you can access the balance online.