The Top Easy Access Savings Discussion Area

dekkard

friolento said:

If you are setting up the Skipton Member Bonus Saver, remember to add a nominated account now, in order to avoid delays at withdrawal time

If you have a nominated account, how long do payments from Skipton usually take? Do they do payments over weekends or are they delayed till Mondays?

AmityNeon

dekkard said:

friolento said:

If you are setting up the Skipton Member Bonus Saver, remember to add a nominated account now, in order to avoid delays at withdrawal time

If you have a nominated account, how long do payments from Skipton usually take? Do they do payments over weekends or are they delayed till Mondays?

All withdrawals, including internal transfers, are processed on working days only. The cut-off time for same-day Faster Payment withdrawals is 8 PM.

allegro120

friolento said:

If you are setting up the Skipton Member Bonus Saver, remember to add a nominated account now, in order to avoid delays at withdrawal time

Thanks for this. I didn't realise that this needs to be done. Now set it up for all three of my Skiptons.  Couldn't find this function on the app, so did it online.

Bazzalona13295

allegro120 said:

friolento said:

If you are setting up the Skipton Member Bonus Saver, remember to add a nominated account now, in order to avoid delays at withdrawal time

Thanks for this. I didn't realise that this needs to be done. Now set it up for all three of my Skiptons.  Couldn't find this function on the app, so did it online.

I might be wrong (somebody correct me if I am) but you can only do it online, I looked on the app earlier and it was under FAQs.

Growingold

Hi I opened the new Skipton Bonus Saver on Saturday.  I tried to do a payment into it in  online banking but it could not verify the account details.  My question is as they say quite explicitly that any transfers or deposits initiated on a non working day are credited on the next working day which here would be Monday is that when my bank will recognise my new account details?

Bridlington1

Growingold said:

Hi I opened the new Skipton Bonus Saver on Saturday.  I tried to do a payment into it in  online banking but it could not verify the account details.  My question is as they say quite explicitly that any transfers or deposits initiated on a non working day are credited on the next working day which here would be Monday is that when my bank will recognise my new account details?

Have you remembered to put the payee name as "Skipton Building Society" and use "business account" as the payee type? 

EDIT: The app tells you to use your name as the payee.

friolento

Bridlington1 said:

Growingold said:

Hi I opened the new Skipton Bonus Saver on Saturday.  I tried to do a payment into it in  online banking but it could not verify the account details.  My question is as they say quite explicitly that any transfers or deposits initiated on a non working day are credited on the next working day which here would be Monday is that when my bank will recognise my new account details?

Have you remembered to put the payee name as "Skipton Building Society" and use "business account" as the payee type? 

It‘s not possible to get the account details verified by COP as your account number needs to be specified in the Reference. I always set mine up as Personal accounts, even for accounts like the Skipton ones. 

I made a Faster Payment to my new Skipton Bonus Saver yesterday around 11 am, and expected it to show on Monday. Much to my surprise, though, the money got credited yesterday. 

movingon

I sent mine yesterday too, but it has not arrived

Bridlington1

friolento said:

Bridlington1 said:

Growingold said:

Hi I opened the new Skipton Bonus Saver on Saturday.  I tried to do a payment into it in  online banking but it could not verify the account details.  My question is as they say quite explicitly that any transfers or deposits initiated on a non working day are credited on the next working day which here would be Monday is that when my bank will recognise my new account details?

Have you remembered to put the payee name as "Skipton Building Society" and use "business account" as the payee type? 

It‘s not possible to get the account details verified by COP as your account number needs to be specified in the Reference. I always set mine up as Personal accounts, even for accounts like the Skipton ones. 

I made a Faster Payment to my new Skipton Bonus Saver yesterday around 11 am, and expected it to show on Monday. Much to my surprise, though, the money got credited yesterday. 

I was thinking more along the lines of the email I received with funding instructions doesn't explicitly tell you to use "Skipton Building Society" as the payee name, it just so in this case the CoP could've been failing because @Growingold may have been trying to make the payment with the payee name as their own name rather than "Skipton Building Society", which could've caused CoP to be unable to verify the account details.

However I've just tried setting up a payee to my Skipton account on Santander using my own name and it appears it is now checking the reference matches. I tried it first with the reference slightly incorrect and it came up with a message:

The account reference you entered is incorrect. Make sure you enter the correct reference for the account you're trying to pay

When I changed the reference to the correct one it verified the account belonged to me and gave me the option to make a payment to it.

I didn't proceed with the payment as I paid the maximum into it on Friday but it was an unexpected result to me. I may do some experimentation to see if some of the other banks also check the reference.

jaypers

movingon said:

I sent mine yesterday too, but it has not arrived.Im worried now

Don’t be. As long as you sent it to the right account details, you’re fine. If any issue with the reference, it will be returned. Nothing will happen until the next working day, being tomorrow as it isn’t a real time account that you can transfer to and from via Faster Payments. Many savings institutions operate like this. That’s the reason I have a mix of accounts with ‘immediate’ access and those which do not.