Payments into Al Rayan Bank

alex24

Apologies if this is answered elsewhere, but I couldn't seem to find anything and I didn't receive a welcome pack from Al Rayan.

Could someone tell me how to make a payment into the Everyday Branch Saver. What is the sort code and what do you put for the reference? I understand it must be paid from an account in your name.

Is there a minimum amount that needs to be paid as the first payment and if it falls below this will the payment be returned to the originating bank account? Finally, how long does a payment take to appear in my Al Rayan account? If it's a weekend I'm guessing it won't show until Monday?

Apologies for all the questions!

Thank you

jsinc

Think the minimum was £500 and I got a page with account number, sort code and payment ref on application. Had a previous Al Rayan account and existing online access, so the process was maybe simpler. Won't post account details but the refererence was 9 digits starting LIB.

Initial deposit from current account was quick (minutes). Also added more after close of business friday and it showed up as added friday when I checked yesterday.


Edit - thread about it, inc some posts re. sort code:
https://forums.moneysavingexpert.com/discussion/6047454/mse-news-new-sharia-account-offers-1-6-easy-access-savings-but-should-you-get-it

soulsaver

https://www.alrayanbank.co.uk/savings/instant-access-savings/everyday-saver/

Click on 'Funding Your Account'

"Please pay your deposit using the following information:
Account name: the name of the account holder
Sort code: 30-00-83
Account number: ********
Reference Number: LIB******"

Vortigern

soulsaver wrote: »

https://www.alrayanbank.co.uk/savings/instant-access-savings/everyday-saver/

Click on 'Funding Your Account'

"Please pay your deposit using the following information:
Account name: the name of the account holder
Sort code: 30-00-83
Account number: ********
Reference Number: LIB******"

I have never had a reference number, but I have successfully transferred money in to Al Rayan using the above sort code, my account number and no reference number.

I suspect the the reference number is a relic from when they used sort code 30-00-00 and a collection account.