The Top Easy Access Savings Discussion Area

Daliah

qsk said:

jimexbox said:

Re. Al Rayan. How quick are deposits and withdrawals to show? 

Quite quick on weekdays. But don't do any withdraw/deposit over weekends as they will not be processed (my experience).

withdrawals at weekends and bank holidays will be actioned on the next working day 

soulsaver

Pompeydave1967 said:

Strange going down in rates , I’ve had 2 increases from them in Aug and now sits at 1.86%. No notification saying decreasing yet.

Shawbrook Issue 30 launched at 1.81%. 
Issue 29 is still 1.86%. Existing holders can still add to the account but it's no longer available (NLA) to new applicants. 

ToTP here updated accordingly. 

quirkydeptless

jimexbox said:

Re. Al Rayan. How quick are deposits and withdrawals to show? 

I opened Gatehouse yesterday and Al Rayan Today

Al Rayan payment went though in 1-2 hours, starting with a £1 test. My Gatehouse test payments from Yesterday and Today, 1 out of 4 has got through so far.

My Gatehouse reference is too long for the field in my source account, by 1 character. Tried leaving out the spaces and truncating the last character.

Guess which account is getting my money

FishInGlass

My Gatehouse reference is too long for the field in my source account, by 1 character. Tried leaving out the spaces and truncating the last character.

I have just had the same issue. I spoke to a very nice man at Gatehouse. He said the key part is the application reference number. There is not an issue if subsequent information is truncated. They will match as much as they can for verification.

I was also told that any deposit before 1pm will be processed today. After 1pm it will be the following day (not sure if that is working day or not). The money however will earn expected profit from the day of deposit. I will check tomorrow to see if my £1 has arrived.

kaMelo

quirkydeptless said:

jimexbox said:

Re. Al Rayan. How quick are deposits and withdrawals to show? 

I opened Gatehouse yesterday and Al Rayan Today

Al Rayan payment went though in 1-2 hours, starting with a £1 test. My Gatehouse test payments from Yesterday and Today, 1 out of 4 has got through so far.

My Gatehouse reference is too long for the field in my source account, by 1 character. Tried leaving out the spaces and truncating the last character.

Guess which account is getting my money

Yes it's a bit weird that the reference given to you is too long to use but once you've logged in to Gatehouse you can see your account no formatted like.   XXX9999999YYY (with Y being the first three letters of your surname. Use the account number for the reference and money is deposited correctly.


On the wider picture it's interesting that Shawbrook dropped their rates as it leaves a distinct gap now of 0.2% with two sharia accounts topping the tables and the rest of them, non-sharia accounts, congregating around 1.8%. Up until now, even though rates were increasing, account rates were always so tightly grouped you could only separate them with a fag paper

Daliah

quirkydeptless said:

jimexbox said:

Re. Al Rayan. How quick are deposits and withdrawals to show? 

I opened Gatehouse yesterday and Al Rayan Today

Al Rayan payment went though in 1-2 hours, starting with a £1 test. My Gatehouse test payments from Yesterday and Today, 1 out of 4 has got through so far.

My Gatehouse reference is too long for the field in my source account, by 1 character. Tried leaving out the spaces and truncating the last character.

Guess which account is getting my money

You get a "proper" Gatehouse reference once your account has been opened. In the app, click on "Pay in" and it shows you all the payee details. You can also see the "proper"  ref in online banking.

I agree, though, Al Rayan are processing deposits quicker than Gatehouse. Remains to be seen how they compare on withdrawals, and on daily withdrawal limits. My preference atm is Al Rayan, based on their interest rate.

adindas

My Al Rayan Everyday Saver i3 has shown 2.1%. No need to do anything.

I think this process is much better, saving time and Energy for both Al-Rayan and Customers.

Unless they are stupid, uninformed or the difference in interest is too small, the people will keep applying for a new product and will close the old one wasting time and energy for everyone.

Bigwheels1111

Gatehouse reference number was sent by email next day, not when joining.

Just got mine and test payment went through with no issues.

No limit on withdrawals per day 85K is fine, just do it before 1.30pm I think it is and it will arrive today.

To make a withdrawal your nominated account must be verified, A day or two after account is open a box will appear in your account section asking for a code, this is sent the day the box appears.

Should arrive in next 5 days by post.

Al Ryan daily withdrawal limit is 20K.

10_66

Bigwheels1111 said:

Gatehouse reference number was sent by email next day, not when joining.

Just got mine and test payment went through with no issues.

No limit on withdrawals per day 85K is fine, just do it before 1.30pm I think it is and it will arrive today.

To make a withdrawal your nominated account must be verified, A day or two after account is open a box will appear in your account section asking for a code, this is sent the day the box appears.

Should arrive in next 5 days by post...

Email with User ID (Welcome Letter) came within 7 minutes of email confirming application.
Transfers in, cut off is 1pm, transfers out, cut off is 2pm.

Bigwheels1111

10_66 said:

Bigwheels1111 said:

Gatehouse reference number was sent by email next day, not when joining.

Just got mine and test payment went through with no issues.

No limit on withdrawals per day 85K is fine, just do it before 1.30pm I think it is and it will arrive today.

To make a withdrawal your nominated account must be verified, A day or two after account is open a box will appear in your account section asking for a code, this is sent the day the box appears.

Should arrive in next 5 days by post...

Email with User ID (Welcome Letter) came within 7 minutes of email confirming application.
Transfers in, cut off is 1pm, transfers out, cut off is 2pm.

Got the time wrong sorry.

Opened account last night, but got both emails today, 4 minutes apart.

Now need to wait for letter with code to confirm my other bank for withdrawals.