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The Top Easy Access Savings Discussion Area
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BooJewels said:
Normally, transferring to savings, you'd send it to the organisations own bank, with your account no. as a reference.3 -
Band7 said:BooJewels said:
Normally, transferring to savings, you'd send it to the organisations own bank, with your account no. as a reference.Wearing my other one today.0 -
Band7 said:BooJewels said:
Normally, transferring to savings, you'd send it to the organisations own bank, with your account no. as a reference.0 -
BooJewels said:Band7 said:BooJewels said:
Normally, transferring to savings, you'd send it to the organisations own bank, with your account no. as a reference.
And yes, in answer to your question.1 -
FindingBBob said:Are Ford Money finally inching their way in to this millennium? Just logged on to withdraw some cash and saw this little note. Looks like a welcome development.. have done a withdrawal, will update later if I receive the funds before end of the day..
Your post was at 11:00 am and my transfer was at 11:21 as per their confirmation text to me.
This is excellent as payments into Ford Money are also same day if done early enough.0 -
Thanks for the help with Nationwide, it went through and had cleared as soon as I'd logged out from one and into the other. When I looked at the bank savings account I was moving from, I could see that had a sort code and 8 digit account no. too - I've just never sent anything to it from outside my own accounts at the same bank.0
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The Nationwide just happens to be a Payment System participant, so you have an individual account number and sort code. Lots of the smaller financial institutions aren't members in their own right so can't receive payments, such as Faster Payments, themselves. They use an intermediary bank who is a member to receive and (sometimes) hold the funds. Your "account" may be entirely virtual; all the deposits are held in one big pot with your individual "Account Ref" used to identify and track your money. Payment system members can move money within the 2-hour Faster Payment window, but "virtual" banks often can't; they tot up all the withdrawl requests received in one day and pass them to their payment system partner the following day, hence why you sometimes don't get your money until the next banking day.The full list of participants is here: https://www.wearepay.uk/participants-list/6
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Thanks for the explanation @TiVo_Lad - I just had a brain fart last night after sorting all sorts of stupid things and a lot of moving money around, trying to sort some attorney issues with Barclays, who really don't make it easy, decided to just test this payment whilst I was already logged in to my bank and was just bamboozled by the instructions for a moment. It was like one bit of data too much. Your explanation obviously makes perfect sense and why my bank savings accounts, that I use for organising money rather than saving, have account numbers and sort codes. But Skipton, for example, use Barclays and you send money to their Barclays account with your account no. as a reference.0
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CHIP 2.9%. Where did that come from?2
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Do you still have to give CHIP Open Banking access to your current account so that it can pinch your money at random times for no apparent reason other than the AI says so?
Had this for a while and it was just annoying. If the instant access account is available without the AI savings bot and its freedom to raid your bank account then it's a goer.0
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