Opened a ybs before santander 2.75%. ybs says 14 days before i can transfer money

fletcher1985

Just a quick question i opened my ybs on the 1st october and it said i had to wait 14 days before i can transfer the money out. its not the 15th and i still cant transfer the money out. am i right in thinking if i open on the 1st then the 14 day is today so i should be able to move the money?

housebuyer143

Depends if they mean buisness days or not. 

fletcher1985

That was a typo about the 15th obviously it's the 15th today.

This is what it's says. So the 1st was the open day and 14 extra days. I asked on here because a lot of people on here would have opened it and if you call them you are just on hold.

For security reasons, online withdrawals are not available for the first 14 days after your account has been opened. After 14 days withdrawals can be made from your account at any time on condition that there are sufficient cleared funds in your account and that you maintain the minimum balance of £1.

Section62

fletcher1985 said:

That was a typo about the 15th obviously it's the 15th today.

This is what it's says. So the 1st was the open day and 14 extra days. I asked on here because a lot of people on here would have opened it and if you call them you are just on hold.

For security reasons, online withdrawals are not available for the first 14 days after your account has been opened. After 14 days withdrawals can be made from your account at any time on condition that there are sufficient cleared funds in your account and that you maintain the minimum balance of £1.

They use the word 'after' twice in that paragraph. You could interpret that as meaning day 1 is the day following the one the account is opened, and that a full 14 days must then pass.  Alternatively, YBS may only flick the withdrawal activation switch on business days.

Only they will be able to tell you for sure.

Swipe

I'd Just open the santander one now with £1 then it's ready for your money

Daliah

I reckon you'll be ok on Monday.

Even if you could put a withdrawal request in today, you wouldn't see your money before sometime on Monday, anyway

fletcher1985

Swipe said:

I'd Just open the santander one now with £1 then it's ready for your money

I already have one opened thanks.

Section62

ashby6567 said:

Section62 said:

fletcher1985 said:

That was a typo about the 15th obviously it's the 15th today.

This is what it's says. So the 1st was the open day and 14 extra days. I asked on here because a lot of people on here would have opened it and if you call them you are just on hold.

For security reasons, online withdrawals are not available for the first 14 days after your account has been opened. After 14 days withdrawals can be made from your account at any time on condition that there are sufficient cleared funds in your account and that you maintain the minimum balance of £1.

They use the word 'after' twice in that paragraph. You could interpret that as meaning day 1 is the day following the one the account is opened, and that a full 14 days must then pass.  Alternatively, YBS may only flick the withdrawal activation switch on business days.

Only they will be able to tell you for sure.

Yup, so call them, you're only on hold until an advisor is available. Or email them -)

Or just wait another day.

IIRC YBS don't process withdrawal requests over the weekend, I don't think fletcher1985 will get their money before Monday, possibly Tuesday.

One thing it is worth doing - if possible - is to make sure the external destination account has been set up if it hasn't been already.  That's another hoop to jump through with YBS and can sometimes lead to delays.

Swipe

fletcher1985 said:

Swipe said:

I'd Just open the santander one now with £1 then it's ready for your money

I already have one opened thanks.

What are you worrying about then?

Swipe

ashby6567 said:

Swipe said:

fletcher1985 said:

Swipe said:

I'd Just open the santander one now with £1 then it's ready for your money

I already have one opened thanks.

What are you worrying about then?

Common sense prevails.
The thread headine would indicate attempts to transfer money from YBS to Santander, so obviously the account is already in place and your suggestion to open a Santander account wasn't necessary.
The OP is trying to transfer funds and hasn't mentioned worrying. That's just another false assumption on your part. 

All they need to do is wait until Monday and try again then.

Frogletina

fletcher1985 said:

Just a quick question i opened my ybs on the 1st october and it said i had to wait 14 days before i can transfer the money out. its not the 15th and i still cant transfer the money out. am i right in thinking if i open on the 1st then the 14 day is today so i should be able to move the money?

There is a message above the account online advising you that you cannot withdraw before 14 days, this message disappears after the 14 days, by their calculation, have passed