Sainsbury's BANK – are transfers same-day from Halifax bank

ED

5.50% gross interest is offered by Sainsbury's Bank (Internet Saver). 5% is earned in Halifax bank for matured funds ex the Regular Saver now in Web Saver (without ATM card version). Anyone here ever transferred funds from Halifax (HBOS) to Sainsbury's Bank via BACS? If so, did the money arrive same-day? Elsewhere AndyR wrote "Bank Of Scotland...act as clearing agents for Sainsburys Bank." Given that Halifax is part of HBOS, same-day transfers seem a possibility. I note Sainsbury Bank's Sort Code begins 12- which is the primary number of Bank of Scotland.

gelato_cat

I asked the same question of the Sainsbury's people and they said no. The woman I spoke to worked on the Internet team and deals with Sainsbury's and Halifax online enquiries and said this was how she knew. I don't trust bank people at the best of times so I spose the only way of finding out for sure is sending £1 across and seeing how long it takes to get there.

Suze

ED wrote: »

5.50% gross interest is offered by Sainsbury's Bank (Internet Saver). 5% is earned in Halifax bank for matured funds ex the Regular Saver now in Web Saver (without ATM card version). Anyone here ever transferred funds from Halifax (HBOS) to Sainsbury's Bank via BACS? If so, did the money arrive same-day? Elsewhere AndyR wrote "Bank Of Scotland...act as clearing agents for Sainsburys Bank." Given that Halifax is part of HBOS, same-day transfers seem a possibility. I note Sainsbury Bank's Sort Code begins 12- which is the primary number of Bank of Scotland.

ED

Great idea - I aim to try it, in coming days. May try it twice, as someone here mentioned experiencing same-day transfer of BACS from (for eg) Barclays on the 2nd (but not 1st) BACS to the likes of Skipton Bdg Society (Barclays being their clearing bank). Apparently the 'link' is effectively checked on the 1st occasion, and goes faster on subsequent occasion(s).

gelato_cat

I'm sure I only ever transferred into my Sainsbury's account from my Halifax current account. It never happened instantly - shame about that!

Let me know what happens.

Suze

ED wrote: »

Great idea - I aim to try it, in coming days. May try it twice, as someone here mentioned experiencing same-day transfer of BACS from (for eg) Barclays on the 2nd (but not 1st) BACS to the likes of Skipton Bdg Society (Barclays being their clearing bank). Apparently the 'link' is effectively checked on the 1st occasion, and goes faster on subsequent occasion(s).

regularsaver1

No it wont be the same

HBOS does not fully own Sainsbury's bank

[Deleted User]

Hi, I want to transfer some money from my Sainsburys Internet Saver account to my Bank of Scotland IASA with cashcard account (same interest rate). Will the transfer be instant, overnight or worse?

Thanks

johnmoney05

It is same day. BUT show on account overnight.

[Deleted User]

Thanks for that

noh

Regarding the Halifax to Sainsburys transfer.
It is dated same day but shows next day if you use the normal bill paying function.
If you use the "transfer money to another account with us" function the transfer is instant. You select "create a new transfer" then "Transfer money to another account with us" enter the sort code and account number of your Sainsburys saving account and it is saved in the drop down list with a roll number. Which indicates to me the systems are very closely related if not the same.
I have verified that this works.

Nigel

JohalaReewi

Also works with BOS accounts to/from Sainsburys.

ED

It's a year since I originally posted this question. Since then I'm happy to add my confirmation of successfully testing such transfers. Just waiting now to see if Halifax 6% current account remains at that rate after February's drop in Base Rate. If it does, maybe Sainsbury's Bank will receive funds currently @ only 4.89% - 5.46% in Coventry BS's Coventry First account (second year rate). It's been useful for SO deposits to monthly saver accounts, but the rate is uncompetitive. So Halifax may get my custom for monthly SO's galore.