Sainsburys 6% Internet Saver

jem16

ukdutypaid wrote: »

Cripes that was a quick set up (if it is that is).
Applied on Tuesday 10th.... Stuff through post on 12th. Including access code.. I'm in the internet banking.

I'm BoS, so Jem it doesn't show as an account in there,

That's correct. You need to view your accounts within the appropriate internet banking. Halifax and BoS accounts can be viewed on the HBOS system, Sainsbury's accounts within the sainsbury's system

but I can make a transfer to a sort code beginning with 12..
This I've tried to do, but, I received a message from within BoS, saying "awaiting verification".

The transfer mandate will usually be set up almost immediately but if it's outwith hours it may be overnight. You will usually get an email to confirm it's been set up but check back and see if it's in your transfer list anyway.

I know I can just do a one off payment, but is the adding of another HBOS account, set up what you've done also?

I set up the transfer as "Transfer to another account with us". It then allows you to choose accounts beginning with sort codes, 11, 60 or 12

The former would be a normal 4 day BACS, though would it not, vs an internal overnight CHAPS?

If you set it up just as "An account with another bank" it will take the normal 3/4 days to go through. If you set it up as "Transfer to another account with us" it will go through instantly.

Sainsbury's to HBOS will go through overnight.

Sapphire

I'm still 'waiting for verification' after two weeks. I transferred £10 to the account about a week ago to see if it would work. However, I am reluctant to entrust these people with my savings with the signs of inefficiency I am seeing in regard to activating the account so that money can be taken out of it as well as being deposited in it.

I also spoke to someone at the helpline yesterday. She suggested she would ring me back today to confirm that everything was going OK, but never did.

Doesn't exactly inspire faith in this account.

sav4it

My £1 is showing in the account ( 2 days to reach) but obviously still awaiting authorization. Still no sign of a letter to be signed.

jem16

Sapphire wrote: »

I'm still 'waiting for verification' after two weeks. I transferred £10 to the account about a week ago to see if it would work. However, I am reluctant to entrust these people with my savings with the signs of inefficiency I am seeing in regard to activating the account so that money can be taken out of it as well as being deposited in it.

I also spoke to someone at the helpline yesterday. She suggested she would ring me back today to confirm that everything was going OK, but never did.

Doesn't exactly inspire faith in this account.

I think they have been surprised with the volume of applications.

My application was all sorted within 10 days of first applying.

Boomdocker

I just set up today by transferring my Sainsburys Instant Access Saver accoutn to the Internet Account. Just waiting to be verified, it did state that there would be a 4-12 day wait.Although there is no card I am not worried as this is a short to mid term saving account for me that I can just transfer funds to my bank when I need to use it. I can still send in cheques as and when I can and I will transfer my SO to drip feed in once verified. For me its simila to the instant access account but with more interest. This is my first experience of moving an account for better interest, I have never bothered before so I hope I have done right. Seems OK so far.

jem16

I shouldn't think you will find much difference between the two accounts apart from the better interest.

Although it is very similar to the HBOS platform it runs from there are a few differences. The HBOS platform is a little bit better. However there I was only getting 5.1% and now I'm getting 6%.

bargain_hunter25

Sorry if this has already been said but this is quite a lengthy thread :-) I think im going to get this sainsburys account however what I need to know if I can transfer money direct from my Barclays current account into the Sainsburys saving account on a monthly basis. Does the sainsburys savings account have a sort code and account number or just a roll number ?

jem16

It has a sort code (12-60-60) and an account number.

You will be able to do what you want.

bargain_hunter25

Thank you for that. I'll get applying now :-)

jem16

No you will still get a letter to sign.

I have been an HBOS cutomer for over 30 years and still had to sign. My ID was verified electronically so no need to send ID.