Paying into Aldermore Savings

Midlander123

Sorry for what may seem an obvious question. I've just opened an Aldermore Double Savings Account. 

The email states to make a deposit, simply use the details shown below to move money from your nominated account:

• Our Sort Code: 20-19-90 (this may show as Barclays, we partner with them as our clearing bank)
• Our Account Number: 63684431
• Beneficiary: Aldermore Bank PLC
• Reference: Your Account number and first three letters of your surname

when I'm transferring money in, do I put my name or Aldermore Bank in the payee full name field? 

Thanks in advance 

Daliah

Doesn't matter as the COP checking wouldn't find your account with either. You might as well use Micky Mouse as the payee name.

Nothing to worry about, just follow the Aldermore instructions by the letter.  The name is irrelevant. What matters are sort code, account number and Reference. If you are unsure, transfer just a quid or two to start with, to test the payee details you use.

Midlander123

Brilliant - thank you! 
I was worried as I was transferring quite a chuck of money and didn't want it to go missing. My online bank documents haven't come in the post yet so if I sent £1 I wouldn't know whether it arrived anyway. But didn't want to miss out on interest in the meantime 

Thanks again 

Daliah

I never deposit any money into any account that I don't have full online access to (and I don't entertain non-online accounts at all). With the current interest rates, you don't miss out on much, anyway

Be careful with fixed rate accounts though. Some only allow one single deposit. Not sure what the Aldermore rules are. I think you have 14 calendar days from account opening to make as many deposits as you like.

MarkFromCornwall

Midlander123 said:

Sorry ... do I put my name or Aldermore Bank in the payee full name field? 

Thanks in advance 

Aldermore Bank PLC

Also, you will know it's arrived because they send an email (although it doesn't state the amount).

Daliah

MarkFromCornwall said:

Midlander123 said:

Sorry ... do I put my name or Aldermore Bank in the payee full name field? 

Thanks in advance 

Aldermore Bank PLC

It really doesn't matter. Trust me.

MarkFromCornwall

Daliah said:

Be careful with fixed rate accounts though. Some only allow one single deposit. Not sure what the Aldermore rules are. I think you have 14 calendar days from account opening to make as many deposits as you like.

Multiple deposits are allowed.  Where do you see the 14 day rule?  I don't see any time restriction.

ColdIron

Daliah said:

Not sure what the Aldermore rules are. I think you have 14 calendar days from account opening to make as many deposits as you like.

Yes, it's quite generous

refluxer

MarkFromCornwall said:

Multiple deposits are allowed.  Where do you see the 14 day rule?  I don't see any time restriction.

That normally just applies to fixed term accounts so if the Aldermore account is an easy access account, then you should be able to pay money into it whenever you like. Check the T&C's though to be sure 

Daliah

MarkFromCornwall said:

Daliah said:

Be careful with fixed rate accounts though. Some only allow one single deposit. Not sure what the Aldermore rules are. I think you have 14 calendar days from account opening to make as many deposits as you like.

Multiple deposits are allowed.  Where do you see the 14 day rule?  I don't see any time restriction.

May be the account you are looking at isn't a fixed rate account? If the terms applicable to the account you are looking at don't stipulate any time limitations for deposits, there obviously aren't any.

MarkFromCornwall

I'm pretty sure the OP means the Aldermore Double Access account.  This is a variable rate account.