Declined for YBS Cash Transactor Account!!

Hominu

grumbler wrote: »

I assume, so does this one as it allows DDs. Am I wrong?

YBS CT accounts have 10 digit account numbers and the sort code is fixed. The real account number is the first 8 digits of the 'ybs account number'. You have to specify the full 10 digit account number in the 'reference' field when making a payment for it to arrive in the correct account.

I would therefore say (at a guess) that YBS "share" real account numbers between members.

grumbler

How do DDs work then as they rely on a normal 8-dig number without any reference?

YorkshireBoy

grumbler wrote: »

How do DDs work then as they rely on a normal 8-dig number without any reference?

The 10 digit number is not required...


http://www.synthetix-ec2.com/clients/ybs/index.html?label=d22

YorkshireBoy

Hominu wrote: »

I would therefore say (at a guess) that YBS "share" real account numbers between members.

I don't believe they do. I thought the last 2 digits simply denoted the type of account, eg


20 - Internet Saver
01 - Offset savings account (since it's technically a cash transactor account I suspect all accounts of this type will share the same 01 suffix?)
80 - Mortgage


And most, although not all*, of my old SAYE scheme accounts (for an ex employer and going back to the mid 90s which are still showing in my online area) ended in 60.


At least that's what I've deduced from my YBS accounts?





* The rest are all prefixed 6 though, eg 66, 67, & 68.

JuicyJesus

Gromitt wrote: »

Who was that? On the rare occasion I've sent off id, it's come back in a normal envelope, franked, and had a price of less than 50p.

CapitalOne, when I was applying for a credit card a few years back.

System

• All current accounts I'm have had all have a combined debit/ATM card not an ATM only card.
• They all had the ability to have a cheque book and have an overdraft should they be requested.
• They have all had a 6 digit sort codes and 8 digit account number.

I appreciate that some people may think this is it a 'pretendy' current account.
I view it as a savings account that allows Direct Debits.

grumbler wrote: »

And?
All current accounts are instant access. Most pay pitiful interest and many come with a cash card.
I assume, so does this one as it allows DDs. Am I wrong?
Absolutely not. Many current accounts have none of these.

grumbler

Heng_Leng wrote: »

• All current accounts I'm have had all have a combined debit/ATM card not an ATM only card.
• They all had the ability to have a cheque book and have a overdraft should It be requested.
• They have all had a 6 digit sort codes and 8 digit account number.

This savings account has none of the above...

Neither do all basic current accounts (except the 8-dig number that seems to be of no importance). You are just lucky not to have one.
Was it really a good reason for starting argument when YB called it pseudo-current? IMO it's by all means far more close to a basic current account than to any savings account.

System

Not having a standard sort code/account number is a major hassle for a current account as many organisations cannot process the 10 digit account number / reference which is mandatory for credits.

Having had one of these accounts, it was rubbish.

grumbler wrote: »

Neither do all basic current accounts (except the 8-dig number that seems to be of no importance). You are just lucky not to have one.
Was it really a good reason for starting argument when YB called it pseudo-current? IMO it's by all means far more close to a basic current account than to any savings account.

grumbler

Of course Lada is rubbish compared to Merc, but not everyone can afford the latter.
Nobody said that this account was a good or the best one and there is no point in arguing about this.

Re the account number, I don't have this account, but judging by the comments in this thread, this account has all functionality of a basic current account, i.e. you can make bank transfers into it directly and set DDs/SOs for outgoing payments. This wouldn't be the case only if the number had less than 8 digits, not more. Extra two digits do no harm.

Or is it just the prefix 'pseudo' that you still struggle to understand?

Gromitt

It seems that indeed they are "proper" account numbers, you just remove the last 2 digits. They seem to use Natwest for the actual accounts.

For international transfers, you must use a dedicated sort code and account number and then put your full 10 digit YBS account number in the reference field.