Vanquis Savings Bank

Richchad

I have just opened an account with Vanquis Savings Bank and received my ID and account number yesterday by post.

So yesterday I set up a new payment to Vanquis from my Santander current account which is my Vanquis nominated account ready to transfer money to the new account.

As I have done before I transferred just £1 to test that all numbers etc were okay using my new account number as reference.

Still not showing in the Vanquis account this morning, I know thet Barclays are the clearing bank which may delay things but would be nice to know I have set up things correctly.

Has anyone on here opened a Vanquis Saving account and can answer the initial deposit procedure?

Twinsdad1844

If it is one of their bonds you have opened I believe it is a minimum £1000 deposit, your pound will be returned to your account.

Richchad

Yeah you are right just got an email from them, but at least it has confirmed that I have set up the payment correctly in my Santander account so can now transfer the full amount.

I had forgotten there was a minimum opening amount, thanks for the heads up Twinsdad.

liver-bird

I have just done the same thing with £20 as a test. Doh. Oh well hopefully mine is returned too then as I am now having second thoughts given all the problems people are having - several thread on here. Shame they can't be merged. 

emmajane_4

I've just taken a two year fixed rate bond with Vanquis (or at least I think I have, the money has gone from my account), what a nightmare of a bank to deal with, I cannot access my Vanquis account, I've emailed them twice (21/04/20 & 29/04/20) no response, I've tried phoning, you are on hold forever and eventually I gave up on the first attempt, I'm on the phone right now as I type this comment, just waiting for someone to answer and it's just coming up to 50 minutes...I understand with Covid-19 that it won't be service as usual, but no service is beyond poor...NOT RECOMMENDED... 

Thrugelmir

Why were you unable to access your account? Totally seamless despite the expected delays. 

Sunshine_and_Roses

Have you received the email from them saying the nominated bank account is now authenticated?  I tried to transfer money when I was given the account details etc but the payment was returned to Santander.  I have now had the email from them and tried again, and the money has gone through fine.

fireball

How long did it take to get the email to say the nominated account is authenticated?  I've been waiting 4 hours and nothing yet.

Edit: answering my own question: it's next day.

Aidanmc

Just opened the 90 Day notice account, deposit won't be accepted then until nominated account is verified?

ToastLady

You have to wait for letter to come through the post with code, then you can verify your nominated account.

NorwichMan

Have to say my experience has been positive. Opened a 1 year fixed bond about a month ago @4.75%. I did have to call them because I forgot some answers to the "memorable questions" but got through quickly to a helpful person. Sent my deposit from my nominated account, it did take about 24 hours to show up but there it is. Now just have to wait...