Regular Savings Accounts: The Best Currently Available List!

wiseonesomeofthetime

Can you override the non-recognition, as long as you're sure sort code, account number, reference correctly completed?

1882

wiseonesomeofthetime said:

Can you override the non-recognition, as long as you're sure sort code, account number, reference correctly completed?

With Nationwide online banking you can, after acknowledging warnings!

refluxer

typistretired said:

Can you help me as to how you complete the payee details for faster payment! I put Furness BS and my name it came back correct name Furness Building Society so I changed it then came back not recognised

Why did you change it after the first attempt told you it was correct ? It's not actually very clear from your post exactly what you've done.

I've opened a number of different accounts in the last month or so and it's become clear that some banks and building societies aren't yet on-board with this new account checking procedure. When this is the case, they'll often state that you can ignore your online bank's warning but only if you're sure that you've completed the rest of the details correctly. I would check your regular saver or general Furness savings account T&Cs to see exactly what information you have to use. They may even have a help page on their website with this information. If you ignore any warnings and get the details wrong, it might make it more difficult to recover incorrectly directed payments so you're wise to proceed with caution.

Are you allowed to make multiple payments into this account in the same month ? If so, then it's common practice for many to send a small initial payment (eg £1) to ensure that the details you've used are correct. Again, you'll have to check your product T&Cs though to make sure that multiple payments within the month are allowed.

typistretired

I I have sent a £1 as Colsten recommended on another forum. This new system is confusing Furness have confirmed I am inputting correct details. Problem is the account is not online so will have to email them to check the £1 has gone into the account

colsten

1882 said:

wiseonesomeofthetime said:

Can you override the non-recognition, as long as you're sure sort code, account number, reference correctly completed?

With Nationwide online banking you can, after acknowledging warnings!

All banks allow you to ignore the mismatch warnings. 

typistretired

refluser asked " Why did you change it after the first attempt told you it was correct ? It's not actually very clear from your post exactly what you've done."

I put Furness BS and my name as shown on account
The check came back correct name is FURNESS BUILDING SOCIETY
So I changed to that.
The check then came back not recognised so I proceeded as I knew information was correct but only sending £1.  You can send multiple payments minimum of £1 is required.

typistretired

That's the information I inputted.  The online chat with these banks are a waste of time too.  They go on about whether is personal or business

someone

I don't think it's a good idea for people to post on this thread account number and sort codes for various BS due to the possibility that someone unscrupulous may quote the wrong details (aka their own) in attempt to misdirect funds. Maybe better to direct people to how they can find the details on the providers website instead of quoting them.

colsten

refluxer said:

I've opened a number of different accounts in the last month or so and it's become clear that some banks and building societies aren't yet on-board with this new account checking procedure.

Some financial institutions may never participate in the Confirmation Of Payee scheme; particularly those who have a single deposit collection account, like many building societies have.

refluxer said:

 I would check your regular saver or general Furness savings account T&Cs to see exactly what information you have to use. They may even have a help page on their website with this information. If you ignore any warnings and get the details wrong, it might make it more difficult to recover incorrectly directed payments so you're wise to proceed with caution.

Furness is simple (and similar in concept to many other building societies)

typistretired said:

I I have sent a £1 as Colsten recommended on another forum. This new system is confusing Furness have confirmed I am inputting correct details. Problem is the account is not online so will have to email them to check the £1 has gone into the account

Oh, the joys of accounts without online access! Personally, I cba with them as I like to be able to at least see my account, and also be able to make my own withdrawals, or at least be able to give maturity instructions online. Anyway, I hope you'll get confirmation that you used the correct details.

Frogletina

schiff said:
 Most of my 'destinations' are not in the accepted form as I prefer my payees name to refer to the particular account (in order to have 7 Virgin payees not exactly the same, for example) by override. Making doubly sure of course that all the other details etc are copied exactly.

I'm having that problem too. I'm thinking that after I've sent one payment correctly I could amend the payee name to the account name. I've got 5 Virgin regular savers plus two ISAs and one current account with the linked saving account. 

I have 18 standing orders going out on the first of each month, 6 are new ones which just show my name on my account since the checking began.