Sainsburys 6% Internet Saver

sav4it

You'll see it Tuesday morning but for interest purposes it will be backdated to Monday.
From Sainsbury's FAQ:

Are there any restrictions on withdrawals?
No. You can make as many withdrawals as you wish to your nominated account(s) without any notice, provided your account remains in credit.

jem16

I believe the cut-off point for transfers is around 7pm. If you make the transfer before that today it should arrive tomorrow, Monday.

Not sure on the limit.

jem16

sav4it wrote: »

I don't think that's right jem16 but can't confirm as I don't want to transfer anything today.
I seem to remember one Sunday seeing a message saying that the transfer would take place the next working day if it was a weekend bla bla bla after clicking on "pay now"
Why don't you put it to the test and tell us for sure alared?

I am pretty sure I did a transfer on a weekend before and it was fine. The only time I remember a transfer not happening overnight was during last week. I had initiated the transfer late on Tuesday evening and it wasn't showing in my HBOS account until Thursday so I think there is a time cut-off of around 7pm. It also did not reduce the available balance until Wednesday in my Sainsbury's account.

I have just transferred £5 to my HBOS account. The available balance has now reduced by £5 and there was no message saying it would not go through. I will check the HBOS account tomorrow.

jem16

sav4it wrote: »

Ok, have just looked at my Halifax statement and there is an entry for Mon 10/09 so that confirms then that it would have shown on the Tuesday but backdated to the Monday.

It doesn't show when it left your Sainsbury's account though.

I think the available balance reduces immediately whatever the day as soon as you commit to making a " payment".

It didn't with me last week.

I did 4 transfers on the 12th September. 3 were HBOS web saver to HBOS current account and 1 was from Sainsbury's to HBOS. The 3 HBOS to HBOS have the date 12th September. However the Sainsbury's to HBOS was dated 13th September even though the transactions were within minutes of each other.

Basically the Sainsbury's transfer did not happen until the following day and did not affect my available balance until then either. I suspect this was because I did not transfer until around 9pm.

My £5 transfer has now affected my available balance in Sainsbury's so I would expect to see it in HBOS tomorrow. I will confirm whether or not this has happened tomorrow.

sav4it

jem16 wrote: »

It doesn't show when it left your Sainsbury's account though.

No, but I know that I initiated the request on the Sunday morning and that was the occasion when I remember seeing something about next working day etc so effectively the same as what alared is trying to do only a week later than me.



I must add though that when I set things up, I didn't specify bank with us ......if that makes any difference?

alared

sav4it wrote: »

I don't think that's right jem16 but can't confirm as I don't want to transfer anything today.
I seem to remember one Sunday seeing a message saying that the transfer would take place the next working day if it was a weekend bla bla bla after clicking on "pay now"
Why don't you put it to the test and tell us for sure alared?

Firstly no disrespect to anyone,we`re all here to help each other.
From Sains help pages:


Can I set up a payment with a future date?

No, any payments that you make will be debited to your account today. Any payments input on a non-working day will be debited the next working day.

What is the maximum amount I can send a payment for?
The maximum amount you can send a payment for is £50,000. For your security, If you wish to make a payment for more than £50,000 please contact us in writing, by sending your instruction to:
Sainsbury's Bank
Teviot House,
41 South Gyle Crescent
Edinburgh
EH12 9BD

jem16

sav4it wrote: »

No, but I know that I initiated the request on the Sunday morning and that was the occasion when I remember seeing something about next working day etc so effectively the same as what alared is trying to do only a week later than me.

Strangely enough I have many credits made to my Sainsbury's account from HBOS on a Sunday but I have never made a transfer from Sainsbury's to HBOS on a Sunday, apart from the one I made this morning to test it out.

I must add though that when I set things up, I didn't specify bank with us ......if that makes any difference?

This is only at the HBOS end.

jem16

alared wrote: »

Firstly no disrespect to anyone,we`re all here to help each other.
From Sains help pages:


Can I set up a payment with a future date?

No, any payments that you make will be debited to your account today. Any payments input on a non-working day will be debited the next working day.

As you say we're only trying to help each other.

I would not necessarily go with Sainsbury's help pages though. For example they say;

What should I do if the payment I want to make is not available?

You can only make payments to one nominated account and your Sainsbury's Bank Credit Card account(s). If you have not set up a nominated account and/or your Sainsbury's Bank Credit Card account(s) or you wish to change the details of your nominated account, you can do so by contacting Telephone Banking Service on 08453 055 888.

This clearly wrong as Yorkshire Boy already confirmed he has 12 payment mandates set up.

It's also a unique situation as Sainsbury's and HBOS use the same platform.

sav4it

jem16 wrote: »

However the Sainsbury's to HBOS was dated 13th September even though the transactions were within minutes of each other.

Basically the Sainsbury's transfer did not happen until the following day and did not affect my available balance until then either. I suspect this was because I did not transfer until around 9pm.

I had initiated the transfer late on Tuesday evening and it wasn't showing in my HBOS account until Thursday so I think there is a time cut-off of around 7pm. It also did not reduce the available balance until Wednesday in my Sainsbury's account.

I've just remembered a conversation with CS over something.
Their cut off is 8pm so that explains above.

jem16

As promised just reporting back.

My £5 still has not left my Sainsbury's account and therefore has not reached my HBOS account. Therefore I expect to see it tomorrow (Tuesday) and not Monday as I first thought.

Save4it - looks like you were correct in saying Tuesday.

Alared - apologies for misleading you.