Sainsburys 6% Internet Saver

YorkshireBoy

THX wrote: »

I've done it as

Name: My name
Ref: BOS Moneyback

That's the wrong way round. See my post above.

I wanted to transfer money from my current account to the Sainsbuys saver but the madate only seems to be for transfers out. Do I have to set up for transfers into the Sainsburys account with BOS?

Yes. Set it up as "another account with us" (you should find the sort code prefix 12 is listed - it is with my Halifax current account).

THX

YorkshireBoy wrote: »

That's the wrong way round. See my post above.Yes.

I've tried deleting the first mandate. It still shows up with "Deleted" next to it. I've tried setting it up again with the name and ref as you said. However it tells me "You already have a madate for this account".

Does it really matter which way round they are?

YorkshireBoy wrote: »

Set it up as "another account with us" (you should find the sort code prefix 12 is listed - it is with my Halifax current account).

Thanks I'll give it a go

YorkshireBoy

THX wrote: »

I've tried deleting the first mandate. It still shows up with "Deleted" next to it. I've tried setting it up again with the name and ref as you said. However it tells me "You already have a madate for this account".

It'll probably update overnight, and be available to 're-use' with the correct details tomorrow/next working day.

Does it really matter which way round they are?

Look at the list of beneficiaries in my reply to jem16 above. Again, how will you know which account is which when all you are shown is your own name for ALL the mandates you have set up this way?

sav4it

YorkshireBoy wrote: »

Set it up as "another account with us" (you should find the sort code prefix 12 is listed - it is with my Halifax current account).

I'm not sure I did that at the time of setting up.

When you transfer from H to S, do you instantly see it in S or only the next day like from S to H?

sav4it

YorkshireBoy wrote: »

If you put your own name in ALL the beneficiary name fields, and you have 10 payment mandates set up, won't your list of payees appear as...How will you know which account is which?

:rotfl:

I'm afraid I did that and have to go into payment mandates first to check which ones are which before transferring.Don't think I can be bothered to delete and start again.

YorkshireBoy

sav4it wrote: »

When you transfer from H to S, do you instantly see it in S or only the next day like from S to H?

Instantly, although it's not 'available' at Sainsburys until the next day.

jem16

YorkshireBoy wrote: »

If you put your own name in ALL the beneficiary name fields, and you have 10 payment mandates set up, won't your list of payees appear as...How will you know which account is which?

:rotfl:

Quite correct but then I only have one mandate set up.

What I have done is set up more than one Sainsbury's internet Saver and given each a different name. That is then linked to the same name web saver within HBOS.

It suits me better to have different "pots" for each thing I want to save for.

However I do take your point for those with one sainsbury's internet saver and several mandates.

YorkshireBoy

sav4it wrote: »

I'm afraid I did that and have to go into payment mandates first to check which ones are which before transferring.

I suppose it isn't a big problem with 2 or 3 mandates. However, I have 12 on my Sainsburys account.

If you think about it, the 'reference' field is there to allow the beneficiary to apply the payment to the correct account.

For example, a payment made to a LTSB credit card account could go to...

Sort Code: 77-29-00
Account No: 00000000 (a 'collection' account)
Reference: 5635645635645635 (your 16 digit card number)

...and a payment to a YBS savings account goes to...

Sort Code: 60-92-04
Account No: 12345678 (the first 8 digits of your 10 digit account number)
Reference: 1234567890 (the full 10 digit account number)

...whereas a payment to an A&L current account goes to...

Sort Code: 72-50-02
Account No: 25635453
Reference: Not required, since the above details are unique

Whilst most providers allow you to leave the reference field empty, Sainsburys (for some reason) insist you put something in there. So, the obvious thing (to me) with example 3 above, is to simply enter your name.

Special_Saver2

noh wrote: »

You may be ok with the ID verification mine was done electronically.
You can't set up forward dated transfers with Sainsburys. Just one off transfers initiated immediately.

Nigel

Oh no! No forward dated mandates? Curses!!!

alared

If I make a transfer today from Sains when will it arrive in my Halifax account,Monday or Tuesday?

Also is there any limit on the amount you can transfer in a single day.