TSB Monthly Saver - Standing Order issue

Speculator

It's only ever happened to me once but a standing order that left my current account on the 1st of the month actually reached my regular savings account (I think it was the Principality or Coventry) on the previous day meaning I made two contributions in one month!


I had to send in my bank statement to prove that the standing order left my bank account on the 1st.

mikeyp231987

Surely they're not allowed to keep accepting my money for another 9 months though and then turn around and say they won't pay any interest...

They should let me know straight away if I've failed the T&Cs right?

You could argue the payment should have been rejected entirely. Other bank accounts have such measures in place.

B_G_B

mikeyp231987 wrote: »

Surely they're not allowed to keep accepting my money for another 9 months though and then turn around and say they won't pay any interest...

They should let me know straight away if I've failed the T&Cs right?

You could argue the payment should have been rejected entirely. Other bank accounts have such measures in place.

Or you could let them know that you believe that you have failed T&C’s, i.e. take responsibility for your actions.

Personally, I would phone them, explain what has happened, and see what they say.

[Deleted User]

Just reviving this thread to offer some reassurance.

I opened an HSBC regular Saver at the end of February (4% one).

The HSBC RS must be funded by SO from the linked HSBC current account.

If I recall correctly, the system automatically created the SO on the current account based on the date of the first transfer, being the date of opening of the RS.

My RS was opened on 29 Feb, with my first deposit by internal transfer from current account going through on that date. The system automatically created my SO for the 30th.

All fine in March. Payment went through by SO on 30 March.

In April, 30th was a Saturday and the following Monday a bank holiday, so payment went on Tuesday 3 May.

In May, 30th was a bank holiday, so payment made on Tues 31 May.

So, no payments at all in April and 2 in May.

After reading this thread I changed my SO to 20th, so June payment will go on 20 June.

I also contacted HSBC by secure message. They have confirmed that all is well and that my RS has not been downgraded through this, and that I am still receiving 4%. They noted that I have changed the date of my SO but implied that this was not necessary. If bank holidays or weekends intervened to prevent the payment due on the 30th not going until the following month, meaning a month was missed and two payments were made in the. next mo the, this is not considered a breach of the t and c's of the RS.

The same latitude may not be taken by TSB. I suggest that if you are worried you contact TSB and seek an answer.