Bradford + Bingley 6.40% AER Internet Saver

riad_2

I'm pretty sure you'll have to open a new account... your account will definately not be automatically upgraded, but you could always call them and ask them to do so.

I think though it would be easier for you to just open the new account online (took me 5 minutes) and then close the old one! (not sure how we close online accounts?)

musehead

I opened the new account and then transferred my whole balance to the new account. The old account was then automatically closed (and the extra interest added to the new account, I think).

johncr

How did you transfer your balance (of your esavings a/c) to your new (internet saver) a/c ? Did you have to move your funds to your external nominated a/c and then into the internet saver a/c, or was there an easier way ?

musehead

No, you can literally just choose the "money out" option and transfer it across to your new account. The dropdown list shows the nominated account and the new B&B account.

Moggles_2

Originally Posted by musehead
you can literally just choose the "money out" option and transfer it across to your new account. The dropdown list shows the nominated account and the new B&B account.

Some MSEs were misled (see #56 above) by the Bradford & Bingley Ts & Cs which are worded as follows:

3.1.1 After the initial deposit, which must be made by cheque or direct debit from a nominated account or a BACS transfer, subsequent deposits must be made by direct debit from a nominated account...Transfers between Internet Saver 1 and any other Bradford & Bingley accounts you may hold are not available.

Apparently, this blanket statement does not apply to B&B internet accounts. Transfers between B&B eSavings accounts and the new Internet Saver 1 are permitted, as you've discovered.

This means the Internet Saver could be credited and debited indirectly via more than one nominated current account.

Dagobert

All the accounts I had previously nominated for my eSavers are available to the Internet Saver. This means you can have an unlimted number of nominated accounts.