Nationwide MySave

JustAnotherSaver

So i understand that the Nationwide MySave account is going to be no more.

From what i've read, its replacement seems like it's not going to allow transfers in via direct debit, only standing order.

Bit of a pain if this is to be the case since i use the MySave account to meet the direct debit criteria on another account.

Can anyone confirm whether this is correct (the replacement wont allow pay ins via direct debit) or whether i've misunderstood?

Thanks.

premierfella

http://www.nationwide.co.uk/support/support-articles/manage-your-account/savings-mysave-move

"There's no Direct Debit functionality on your Direct Easy Access 4."

Not much room for misunderstanding there!

JustAnotherSaver

premierfella wrote: »

http://www.nationwide.co.uk/support/support-articles/manage-your-account/savings-mysave-move

"There's no Direct Debit functionality on your Direct Easy Access 4."

Not much room for misunderstanding there!

Ah right.

I was going off the paperwork i got. I didn't look at their website tbh.

I wonder if they've converted the account to stop people like us from only using it to meet other banks criteria.

premierfella

I think it is more likely they've simply taken an age to work out that the account made no sense in the first place.

History suggests (I don't know if this as the case throughout its life) that MySave was from the outset outsourced to Newcastle BS. Why would the UK's biggest building society need to do that when they already had their own online savings accounts at the time?! Maybe someone with some sense has looked again at MySave and asked the same question!!

JustAnotherSaver

I assume you can no longer pay into a Santander eSaver account via direct debit?

How do I open and manage my account? To open the account you must be:

• a UK resident, this account can be held in single or joint names;
• aged 16 or over; and
• signed up or are going to sign up for Online or Mobile Banking.

To be eligible for the higher interest rate you must be a 1|2|3 World or a Santander Select customer at point of opening. For joint accounts, at least one person must be either a 1|2|3 World or a Santander Select customer.
Opening

• Online and Mobile.
• Call on 0800 032 4264.
• Visit any Santander branch.

Deposits
Minimum opening and account balance of £1, maximum of £2 million. Deposits can be made at any time via standing order, one-off payments or online transfers.
Manage the account

• Online and Mobile Banking.
• Link account to an existing Santander card.
• Statements are issued annually in April in Online Banking only.

My wife doesn't have a N'wide MySave account but she does have an (old) Santander eSaver account which she pays in to via direct debit to meet criteria for Halifax i think it is.

Did they stop offering the direct debit pay in option or can you still do that?

greenglide

I have just had a look at our Santander accounts and there is a facility to "pull in money from an external account". However you have to use a "linked account" and the linked account seems to require a form requested from Santander by phone.

So the facility appears to still be available?

Only available for savings accounts, not for 123 current accounts.

JustAnotherSaver

greenglide wrote: »

I have just had a look at our Santander accounts and there is a facility to "pull in money from an external account". However you have to use a "linked account" and the linked account seems to require a form requested from Santander by phone.

So the facility appears to still be available?

Only available for savings accounts, not for 123 current accounts.

Yeah it's my wife's eSaver account that has the direct debit coming in. £1 a month.

I know for 100% she didn't have to phone for the form although she did fill out a form. Neither of us can remember how she got it though as it's been a while. Whether it was a link I found online or what.

colsten

If my own experience and the reports from many on here are anything to go by, there are massively less complicated and longwinded options than Santander for setting up direct debits to savings accounts in your own name. As someone else said in another thread in the last couple of days, it's only been discussed a few thousand times on this forum.

JustAnotherSaver

colsten wrote: »

If my own experience and the reports from many on here are anything to go by, there are massively less complicated and longwinded options than Santander for setting up direct debits to savings accounts in your own name. As someone else said in another thread in the last couple of days, it's only been discussed a few thousand times on this forum.

If you mean Tesco then already have that & some of these banks require 'different' sources for the 2 DDs.

Others may be easier to set up but i'm trying to not have to go with someone who i'm not already with.

JustAnotherSaver

I googled this form: https://www.santander.co.uk/csgs/StaticBS?blobcol=urldata&blobheadername1=content-type&blobheadername2=Content-Disposition&blobheadervalue1=application%2Fpdf&blobheadervalue2=inline%3Bfilename%3D84%5C508%5CSAVE0021NOV13HF_V2+FINAL_240414.pdf&blobkey=id&blobtable=MungoBlobs&blobwhere=1314017202440&maxage=3600

It mentions the account number & over on the right it lists "service user number".
I don't know what a S.U.N. is but i'll assume it surely has to be different from a sort code. Yes i know it doesn't say sort code, it says S.U.N. but i see no place to enter the sort code specifically.
Also for the fact that both my brothers & wife's eSaver's have a different sort code.

So for the account number (of the eSaver account) would you just enter sort code followed by account number (14 digits to fill the 14 box spaces) or would you enter only the account number of 8 digits since that is all it asks for (but then what of the sort code)?


And i know people on here like to tell you to search & how things have been asked before, so on & so forth. I just did search for that direct debit thread in here & on the opening page it doesn't list Santander - when according to this .pdf they do offer the option. Shouldn't this information be in that thread?

Eco_Miser

JustAnotherSaver wrote: »

If you mean Tesco then already have that & some of these banks require 'different' sources for the 2 DDs.

They require unique DDs, but do they really require them to be from different companies? I don't know of any bank that does, but I haven't read every banks T&Cs.