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Comments
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Bigwheels1111 said:Having a brain fart here and now.For the Principality, what name do I use, mine or Principality.I know my acc no is the ref.
A pain if your bank don't have a description field, as you need the reference to be the account number as you say.1 -
savethepandas said:Bigwheels1111 said:Having a brain fart here and now.For the Principality, what name do I use, mine or Principality.I know my acc no is the ref.Many thanks,Now I just need to set up standing order for the first.0
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Bigwheels1111 said:Having a brain fart here and now.For the Principality, what name do I use, mine or Principality.I know my acc no is the ref.
I selected personal account, and used my usual naming convention for the account name. I knew this couldn't match, and I simply accepted the mismatch.
My usual naming convention is LCbankxxxx, where bank is Princ for Principality, and xxxx the last four digits of the Reference or the Account Number where I have a personal account number. That way I can easily identify which of my several Principality accounts the payment is for.
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friolento said:Bigwheels1111 said:Having a brain fart here and now.For the Principality, what name do I use, mine or Principality.I know my acc no is the ref.
I selected personal account, and used my usual naming convention for the account name. I knew this couldn't match, and I simply accepted the mismatch.My approach is similar. Always set them up as Business and use a meaningful description, otherwise (as is my case) I'd end up with four "Principality Building Society"s and needing to use the Ref as the determinant. That's bound to lead to mistakes.I thought I read somewhere that the eventual intention was to strictly apply account verification so you couldn't pay to an account where there was a mismatch, meaning our aproach would no longer work. Hopefully that's either not true or a long way off.
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I think you can select personal account for things but you are supposed to select business for simplicity/so things go through smoothly/at all.
Some building societies etc aren't that clear or have been clear on the how to fund things, thankfully never had any issues getting my money into regular/easy access savings so far.
Doesn't help things that Virgin for example doesn't recognise Principality Building Society as a business so you have to do the manual input thing0 -
I used Principality Building Society
Then Business as their email said.
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PRAISETHESUN said:jameseonline said:Stargunner said:jameseonline said:ThePirates said:I'm new to all of this savings stuff and have opened and maxed out the accounts listed on the MSE website.
I've opened a NatWest 6.17% Regular Digital Saver, is there anything stopping me opening a RBS one too?
Make a debit card transaction for an odd amount (eg. £1.01) and NatWest/RBS will round up the transaction to £2, and put the difference (99p) into a nominated savings account. They also offer a double round-up version, which allows £1.98 to be saved each transaction.1 -
jameseonline said:Stargunner said:jameseonline said:ThePirates said:I'm new to all of this savings stuff and have opened and maxed out the accounts listed on the MSE website.
I've opened a NatWest 6.17% Regular Digital Saver, is there anything stopping me opening a RBS one too?1 -
DJDools said:PRAISETHESUN said:jameseonline said:Stargunner said:jameseonline said:ThePirates said:I'm new to all of this savings stuff and have opened and maxed out the accounts listed on the MSE website.
I've opened a NatWest 6.17% Regular Digital Saver, is there anything stopping me opening a RBS one too?
Make a debit card transaction for an odd amount (eg. £1.01) and NatWest/RBS will round up the transaction to £2, and put the difference (99p) into a nominated savings account. They also offer a double round-up version, which allows £1.98 to be saved each transaction.3 -
CuparLad said:friolento said:Bigwheels1111 said:Having a brain fart here and now.For the Principality, what name do I use, mine or Principality.I know my acc no is the ref.
I selected personal account, and used my usual naming convention for the account name. I knew this couldn't match, and I simply accepted the mismatch.My approach is similar. Always set them up as Business and use a meaningful description, otherwise (as is my case) I'd end up with four "Principality Building Society"s and needing to use the Ref as the determinant. That's bound to lead to mistakes.I thought I read somewhere that the eventual intention was to strictly apply account verification so you couldn't pay to an account where there was a mismatch, meaning our aproach would no longer work. Hopefully that's either not true or a long way off.
I agree, hopefully it is untrue or a very long way off. Until all banks and buliding societies provide a meaningful way to uniquely identify an account. e.g. via a nickname which is then used in all transactions, forcing a COP match would be lunacy. Mind you, this probably won't stop some hardcore consumer rights campaigners from demanding unreasoned "improvements".
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