Sainsburys 6% Internet Saver

sav4it

I've not tried a Saturday transfer but am guessing that it is similar to a Sunday so wouldn't leave Sainsbury's until the Monday in which case I would think it would arrive on the Wed?
Edit: please ignore. See below.

YorkshireBoy

sav4it wrote: »

I've not tried a Saturday transfer but am guessing that it is similar to a Sunday so wouldn't leave Sainsbury's until the Monday in which case I would think it would arrive on the Wed?

It would arrive on Thursday.

Like Halifax (and A&L for that matter), Sainsburys appear to hang on to your cash for an extra day - meaning there are two clear banking days between the day of sending and the day of receipt.

sav4it

Thanks YB for the correction.
Have just checked a transaction to Nationwide. Left Monday and arrived Thursday.
Another good reason for having the Halifax High Interest current account especially as the £1000 funding requirement can come from multiple transfers between Sainsbury's and Halifax.

hansi

I've just opened a Sainsburys Online Saver account and the money has transferred successfully. However, I'm a bit unsure of how I need to "set up" my nominated acccount for withdrawal of funds. The help section says it should appear automatically, but at present ther's no account shown. Should I now set it up mysel as a mandate or will Sainsburys do this for me?

jem16

Sainsbury's help pages go on about a "nominated account" but this doesn't seem to exist.

Just set up a payment mandate yourself.

CarolynC

Given the recent banking worries, and the FSA/Govt stating that they will protect any money deposited in a UK bank,Does anyone know what will happen if Sainsbury's is bought out by the Qatar firm,Delta TWO? Does that mean the Govt will not protect savings?

hansi

alared wrote: »

3 working days by BACS

does that include the day you instruct to move money. eg, I ask them to move money on a Thursday, when should it reach my account?

pepsi_max2k

finally common sense prevails... having originally signed up 30 days ago I've just today got full access to the thing after having my id verified.

i mentioned in earlier posts that for some reason electronic verification failed with sainsburys, and i only had one thing on a list of accepted documents to send in. after phoning i just had someone confirm that the over 3 months old docs i had weren't accepted, p45 inland revenue forms weren't accepted, nothing else i had would be accepted and they couldn't help me out any more other than send me another letter. which was identicle to the first, so i just figured i may as well send off every piece of official documentation i had.
won't go in to details but i basically included over ten letters / documents / statements / exam results and a few id cards, some on the list and out of date or over 3 months old, others not but the kinda stuff other places would ask for id. and one letter from BMW Savings confirming my account with them after verifying me electronically no problem, figured it might give someone there a laugh if nothing else.

i got them all back a week ago with a letter saying they'll either write again or activate the account, and i guess it was enough as i've got options to make payments / etc now and no refusal letters. so there's some hope for you students / graduates still living at home with no drivers license, bills in your name, or a shotgun hidden under the bed :T:j

Fenella

I set up this account on line and transferred money into it without difficulty.
Last week I had the letter asking me for 3 documents to verify my identity as I could not be identified electronically.
After reading this board where many MSE members stated they had been electronically identified I wondered why I had not. I have lived in and own the same property for over 13 years, am a taxpayer and a on the electoral roll. My son who is in banking said they should be able to do this.
I rang the helpline and a lady said there should be no problem in verifying me electronically as whilst on the phone with me she found me on Royal Mail. She said this would take a few days.
However I got another letter today asking for the documents. I rang again and explained that there was no reason why they should not be able to identify me electronically. Anyway after I was on the phone for about half an hour when every point I made to the young man had to be queried with his manager he insisted that nobody could open this account without sending in the documentation to prove their identity as it was against the law.
I was then so angry - he doubted my word that I had seen comments on the internet that accounts had been opened with electronic id -that I have asked to close my account and have the money transferred back to my current account with Barclays.
I know I will lose several days interest.

TomsMom

When we opened ours, hubby's identity was electronically verified but mine wasn't, I had to send in documents.

I've never been able to understand this. We've been married for 39 years, lived at this address for 13 years, are both on the electoral role, have some joint accounts and some in single name with various people.

Luckily I was able to supply documents that were acceptable without problem but I'm mystified as to why I can't be verified electronically and he can.