Regular Saver Thread **New and Restarted**

typistretired

nbinblack wrote: »

Leeds is SC-40 27 15 AC number-12440040 then reference is your account number

The good thing with Leeds BS when opening a new regular saver is that you do not have to set up a new payee you just alter the reference number.

pafpcg

typistretired wrote: »

The good thing with Leeds BS when opening a new regular saver is that you do not have to set up a new payee you just alter the reference number.

OK, this works for most banks but NOT for Santander!

There is a fault within one of the Santander systems for standing orders which ignores changes to the data in the reference field - you can change the reference on-line and everything looks OK, even the Santander customer support staff can see it looks OK, but when Santander send the electronic payment (to LeedsBS or anyone else), the original reference data is still there! It happened when I tried to do as suggested a couple of years ago and had the payment rejected by LeedsBS - their IT team checked their data-base for the transfer from Santander and emailed me with the contents of the relevant fields. I confirmed it by doing some test standing orders to banks which display the incoming reference data and, sure enough, after making a change to the reference data, Santander would always send the reference data from when the standing order was first set-up. They paid me & my partner a hefty sum of compensation but, as far as I know, they haven't changed their software (probably cheaper to keep paying compensation than dig around in the software and risk really breaking things!).

If you're using Santander for standing orders and you need to change the reference data, play safe and create a new standing order from scratch.

soulsaver

pafpcg wrote: »

OK, this works for most banks but NOT for Santander!

There is a fault within one of the Santander systems for standing orders which ignores changes to the data in the reference field - you can change the reference on-line and everything looks OK, even the Santander customer support staff can see it looks OK, but when Santander send the electronic payment (to LeedsBS or anyone else), the original reference data is still there! It happened when I tried to do as suggested a couple of years ago and had the payment rejected by LeedsBS - their IT team checked their data-base for the transfer from Santander and emailed me with the contents of the relevant fields. I confirmed it by doing some test standing orders to banks which display the incoming reference data and, sure enough, after making a change to the reference data, Santander would always send the reference data from when the standing order was first set-up. They paid me & my partner a hefty sum of compensation but, as far as I know, they haven't changed their software (probably cheaper to keep paying compensation than dig around in the software and risk really breaking things!).

If you're using Santander for standing orders and you need to change the reference data, play safe and create a new standing order from scratch.

Hefty compo sounds like could be more that the lost Leeds interest...:)...
Not saying you're wrong .. But it's worked with 2 recent SO payments to the Leeds BS for me...

interest_Ted

For SS2 info - and anyone else that may be interested - re post 2 in this thread.

Bucks website now shows revamped accounts. Notable amendments to T&C of Regular Saver Locals include a) unlimited withdrawals at any time, and b) restricted now to locals only (not locals or existing members).

They also have a plain 'regular saver' paying 1.75% which is not restricted to locals, or existing members, allows deposits of £10 to £500 pm, and unlimited withdrawals. Monthly deposit can only be altered once per year, by prior written notice to Society, and no missed deposits allowed.

Ted

schiff

Could this be something of a record?

Yesterday, 6 miles to my nearest branch of Santander Bank to pay in my maturity cheque from the Nottingham BS Tigers RS.

As a Virgin store is not far away I called in, got my six ongoing RSs brought up to date and enquired about opening the No 11. Luckily I'm known by some of the staff, who accommodated me within about ten minutes. She told me all about her recent holiday in Turkey and some sad family news. I couldn't match that so apart from saying I was 'alright' we moved on.

This morning, 12 miles to my nearest branch of Leeds BS. Closed my RS Issue 5. Used £250 of the proceeds to open the RS Issue 17, receiving a cheque for the balance. Had my RS Issue 4 brought up to date. Then we talked. They were disappointed too in the branch that the interest rate was not kept at 2.55% for the Issue 17.

The upshot of our chat about the Issue 4 resulted in her promising to e-mail me whenever she got some relevant news. Could be useful.

To a different branch of Santander to pay in my Leeds cheque.

Back home for a break.

This afternoon, 16 miles to my nearest branch of Nottingham BS. Had my Special RS Issue 6 and my Starter ISA Issue 8 brought up to date. Opened the delightfully named Sunshine RS.

Match that!

karlie88

Guess what I did next?

badger09

karlie88 wrote: »

Guess what I did next?

Well, being the upright, law-abiding, citizen you are, and not wanting to take advantage of any financial institution's obvious error, you immediately contacted Leeds and pointed out their folly:)

On the other hand, you might have thought it would be rude not to take up their very generous offer, so .....:rotfl:

typistretired

Quote:
Originally Posted by schiff
6 miles to my nearest branch of Santander Bank ....
As a Virgin store is not far away .....
12 miles to my nearest branch of Leeds BS.....
16 miles to my nearest branch of Nottingham BS.

What's a cheque?? You could have done all that on the internet and saved on petrol!

schiff

typistretired wrote: »

What's a cheque?? You could have done all that on the internet and saved on petrol!

None of the withdrawals could have been done any other way than by cheque. Maybe I could have applied for the cheques online but I would have had to wait for an unclear number of days to receive them. And interest at 1.5% on £7400 is 30p a day. Just wanted it out of the way, for efficiency.

I'm not sure that it's possible to open the two accounts I did on the internet btw; I know I definitely had to go to a Nottingham branch.

In any event, it has filled that awful void till the football starts again!

Drove 8 miles on the two days, the rest by public transport. FOC

karlie88

typistretired wrote: »

What's a cheque?? You could have done all that on the internet and saved on petrol!

Don't think all could have been done on the internet.

Leeds BS Reg Saver Issue 5 could have been closed online with funds transferred to a nominated account or a cheque sent. Issue 17 of their Reg Saver could also have been opened online.

However, the new Nottingham BS Reg Saver and Virgin Money Reg Saver Issue 11 are branch only so have to be opened in-store.

Re: cheques. They're still used quite a lot, most recently a £6.5k issued by Chorley BS which quite a few of us got. As for depositing them, I usually use my smartphone via the Halifax app. If it's a large amount, then I'll either go to the Post Office or post them to First Direct with their pre-paid envelopes - depends what mood I'm in. :rotfl:

I can see why some individuals prefer to go their local branch to deposit their cheques though.