The Top Easy Access Savings Discussion Area

masonic

Sea_Shell said:

Surely an account limit is an absolute limit, like with premium bonds.

Not a "limit+".

It's up to the organisation as to whether and how any condition is enforced. Its not that uncommon for people to find ways to circumvent limits and for the organisation to be unaware or decide it is not worth the effort to close down loopholes. Deliberately circumventing such limits does open you up to unintended consequences, however, since you are technically breaching the account conditions.

janusdesign

Thumbs_Up said:

Just check my account and my limit is 85k, will be interesting to see what they do with the £92 interest. I will report back and let you know..Just 3 days to transfer now.

just did a quick read of the Smart Saver T&C and 1.4 says....

"Your total balance can go over the maximum when we apply interest."

so you should receive your £92 interest as normal, but you wouldn't be allowed to make further deposits yourself that would take you over the £85k limit... any such deposits would be rejected.

MichaelAP

andyhicks88 said:

Atom is in COP scheme.

Interesting…. According to the NatWest app Atom is not listed as another bank.

murphydavid

MichaelAP said:

andyhicks88 said:

Atom is in COP scheme.

Interesting…. According to the NatWest app Atom is not listed as another bank.

If so this is a NatWest omission. Atom bank is a bank and First Direct who are using COP were able to match my name against my Atom account name.  

soulsaver

janusdesign said:

Thumbs_Up said:

Just check my account and my limit is 85k, will be interesting to see what they do with the £92 interest. I will report back and let you know..Just 3 days to transfer now.

just did a quick read of the Smart Saver T&C and 1.4 says....

"Your total balance can go over the maximum when we apply interest."

so you should receive your £92 interest as normal, but you wouldn't be allowed to make further deposits yourself that would take you over the £85k limit... any such deposits would be rejected.

I couldn't see the Smarty Saver terms on the web pages. Is it in the app only?

MichaelAP

murphydavid said:

If so this is a NatWest omission. Atom bank is a bank and First Direct who are using COP were able to match my name against my Atom account name.  

As you can see, according to NatWest Atom is not listed.

hgt

MichaelAP said:

murphydavid said:

If so this is a NatWest omission. Atom bank is a bank and First Direct who are using COP were able to match my name against my Atom account name.  

As you can see, according to NatWest Atom is not listed.

That's not Confirmation of Payee, in that screen you're trying to add an account via Open Banking. 

Bobblehat

janusdesign said:

Bobblehat said:

janusdesign said:

it's app only.

you can view your other Zopa savings accounts from the App, but you can't open/view or manage a Smart Saver via their site.

Thanks. I've sent MSE a message  ..... would it be appropriate to say "app only" in the lists in this topic too?

weirdly I see that it does say "App" for the listing in the Easy Access section, but not in the notice listings section - probably just a typo / oversight on someones part... also, it says the limit is £50k (which is what it says on the Zopa site), but the App itself says £85k limit.

Just got a thumbs up reply from MSE Team for my earlier email. They have corrected the Zopa 31 day notice account to show App only applications.

masonic

Atom joined COP about 6 months after the initial rollout. COP has nothing to do with Open Banking.

MichaelAP

hgt said:

That's not Confirmation of Payee, in that screen you're trying to add an account via Open Banking. 

masonic said:

Atom joined COP about 6 months after the initial rollout. COP has nothing to do with Open Banking.

Interesting thanks…. Marcus is also not in this list and I am told repeatedly in transactions not COP registered.

I thought as any bank is not in the list they would not warrant confirmation, as in Marcus.