500 deposit

RG2015

Dandytf wrote: »

Friday evening was my deposit on account opening.
2nd July was the on screen rbs message when the amount would debit from my account.

I get this on NatWest at the weekend but then it shows on the NatWest page with the weekend date until Tuesday when it is updated to Monday's date. Some receiving banks show the final date as the Weekend and some as the Monday.

If you look at your RBS digital banking or the RBS app today it may still be showing a June date for the £250 payment to Virgin Money.

badger09

RG2015 wrote: »

Why would the RBS weekend payments policy affect a payment made on a Friday?

It won't, because OP made the payment by bank transfer and the policy affects SOs & DDs.

However, although FPs usually credit within 2 hours, the requirement is that they arrive by the end of the next business day. A payment sent on Friday 29th June, might therefore not be credited until today, Monday 2nd July.

Terry_Towelling

Not sure about RBS but when I make a 'Faster Payment' after banking hours it will be taken (and presumably sent) immediately but will show on my account as the next Business Day. This means it is probably all down to how Virgin clears the incoming payment and, whilst there is a possibility it will clear a late Friday payment quickly (or maybe even the next calendar day) it is highly likely that the date quoted on the account will still be the next Business Day - in this case 2nd July. You'd need to check the Virgin T&Cs on this.

Anyway, OP, you will just have to check the Virgin account and see what date shows before knowing what to do next.

sjp999

While it may have nothing to do with it, keep in mind RBS (and I assume Natwest) no longer have a Friday night "run" - they now do it in the wee small hours Monday morning instead.

Dandytf

Coudn't contain my excitement this morning.
After some log in difficulty via VM and 1 phone call to their i.t.
I eventually logged in successfully
Interest rate 2.25% Gross-250 deposit date is showing 2nd July.
Thanks mser's lets hope I can gather the 250 for August.

badger09

Dandytf wrote: »

Coudn't contain my excitement this morning.
After some log in difficulty via VM and 1 phone call to their i.t.
I eventually logged in successfully
Interest rate 2.25% Gross-250 deposit date is showing 2nd July.
Thanks mser's lets hope I can gather the 250 for August.

Thanks for getting back to us. You're not restricted to just one deposit each month, so if you have only say £25 on 1st August, bung that in, then up to £225 over the rest of the month.

badger09 wrote: »

If you made your deposit on 29th June, it should be credited to your Virgin account today, though it might not be visible online until tomorrow 3rd.

You won't be able to add your 2nd £250 until 1st August.

I claim your 1st month's interest as my reward for providing the correct answer. I promise to spend the whole 46p wisely :rotfl:

Dandytf

badger09 wrote: »

Thanks for getting back to us. You're not restricted to just one deposit each month, so if you have only say £25 on 1st August, bung that in, then up to £225 over the rest of the month.




I claim your 1st month's interest as my reward for providing the correct answer. I promise to spend the whole 46p wisely :rotfl:

I took a lot of advice from all answers though MSE'RS win as I don't have an answer from VM yet since my e request was raised

Thanks all appreciated

Dandytf

Could I ask all mser's to carefully review their answers.
Today I come home to VM e-enquiry answer.
I can confirm as your payment was actioned on 29th that this is the cleared date. Your first payment will count as Junes payment. You may make another £250 contribution in July

Stunned -this opens up another opportunity to invest some more during July -just my double glazed window glass to replace (180 Uk pounds) then I'll make another deposit over next week or two.
Thanks mser -I honestly didn't expect this to be the answer.

Terry_Towelling

Dandytf wrote: »

Could I ask all mser's to carefully review their answers.
Today I come home to VM e-enquiry answer.
I can confirm as your payment was actioned on 29th that this is the cleared date. Your first payment will count as Junes payment. You may make another £250 contribution in July

Stunned -this opens up another opportunity to invest some more during July -just my double glazed window glass to replace (180 Uk pounds) then I'll make another deposit over next week or two.
Thanks mser -I honestly didn't expect this to be the answer.

Didn't expect that! I hope their systems back up what they are telling you.

Is your double glazing sealed unit cracked or just misted up? You may be better off putting the cash in the Regular Saver and delaying the repair for a few months. You can always take the £180 out at a later date when you actually need it - the account is easy access.

We had misted sealed units and left them that way for a few years in case more went and then did them as a job lot.

Dandytf

Terry_Towelling wrote: »

Didn't expect that! I hope their systems back up what they are telling you.

Is your double glazing sealed unit cracked or just misted up? You may be better off putting the cash in the Regular Saver and delaying the repair for a few months. You can always take the £180 out at a later date when you actually need it - the account is easy access.

We had misted sealed units and left them that way for a few years in case more went and then did them as a job lot.

Misted window is from winter 2017 through to present time.
Glass is being replaced Monday repair person advised the seal between panels is gone probably due to age of windows thankfully no external cause.
I'll be happy to get it fixed at least in Short term.