Looking at my accounts again

happyshopper88

Transfers between Sainsbury's/Halifax take place over night, but are backdated, so no loss of interest.

Just wondering, if this is the case then why do they not advertise the fact, (I know they state in the legals it's a joint venture) but the 3/4 days it normally takes to transfer by BACS all adds up!

Also on Moneysupermarket.com, it states that you can deposit in stores but there is no mention of this on the website-can anyone confirm this?

Thanks in advance.

Nick_C

Am sure that Halifax are happy making money from people getting a poor interest rate on their Web Saver! I've also found out that if you set up transfers in advance, they appear to be instant. I got paid today. Yesterday I set up a transfer from my Halifax current account to my Sainsbury's IASA, and the money was showing in my Sainsbury account when I logged on this morning.

free4440273

Originally Posted by free4440273
^i agree, i think the BofE will cut soon and into next year also: they just keep fiddling the bloody inflation figures anyhow (CPI at 1.8 per cent:rotfl:). that's why i'm locking my monies into a nationwide bond for one year. would have preferred two years actually, but nationwide don't offer them at the moment.

Suzey wrote: »

Thanks for this - what % do you get on the Nationwide bond?

Suze

apologies for the late reply (if not answered already by someone else): 1 year gross is 6.70, monthly interest is gross 6.50. i went for the latter because i need a regular monthly income (been made redundant)

jem16

Am sure that Halifax are happy making money from people getting a poor interest rate on their Web Saver! I've also found out that if you set up transfers in advance, they appear to be instant. I got paid today. Yesterday I set up a transfer from my Halifax current account to my Sainsbury's IASA, and the money was showing in my Sainsbury account when I logged on this morning.

All transfers from HBOS to Sainsbury's are instant no matter when you do them.

Sainsbury's back to HBOS happens overnight although it's credited as if it was instant.

Nick_C

jem16 wrote: »

All transfers from HBOS to Sainsbury's are instant no matter when you do them.

Sainsbury's back to HBOS happens overnight although it's credited as if it was instant.

That has not been my experience! When I've tried to do a same day transfer from my Halifax current a/c, the money has disappeared the same day from my current account, but has not appeared in my Sainsbury's account until the next day. However, when it gets to the Sainsbury's account it is backdated. ie if I try to transfer from HBOS to Sainsbury's now, the money will leave my current account but I will not see it in my Sainsburys account. If I look in my Sainsbury's account tomorrow, it will be there, and it will look as if it went in today. However, if I set up a transfer now dated for tomorrow, the money will show out of my current account and in to my Sainsbury's account tomorrow morning.

It looks to me as if there is a batch process that is run overnight.

jem16

Have you set it up as a transfer to another account with us?

Nick_C

Doesn't allow me to do that from my current a/c. States only Hfax & BOS accounts are valid, and rejects it when I try to set it up.

Just tried to set it up from my Web Saver and its gone through to a pending authorisation status. Will be interesting to see what happens.

So currently I do these transfers as bill payments. They are "effectively" instant, they just don't show up instantly!

jem16

Nick_C wrote: »

Doesn't allow me to do that from my current a/c. States only Hfax & BOS accounts are valid, and rejects it when I try to set it up.

That's odd.

I just tried it from my Halifax c/a - I had already set it up from my BOS c/a. When I choose "Create new transfer" I am taken to the next page which gives me a choice of "Transfer to another account with us", "Pay a Bill" or "Transfer money to another bank or building society". If I choose "Transfer to another account with us" I am taken to the next page which asks for roll number or sort code and account number. In the drop down box for sort code it shows 11, 12 or 80. You choose 12 as it's Sainsbury's sort code and then type in your account number.

Can you not do this?

Just tried to set it up from my Web Saver and its gone through to a pending authorisation status. Will be interesting to see what happens.

That's normal. It's usually authorised within the hour and then it will show up on your transfer list.