Aldermore transfer into their account number

JessAnne

Hi,
I just wanted to get some advice to make sure that it's safe to open an aldermore double access savings account and transfer money to their general account number?

Is this all genuine? I'm concerned about being scammed out of my savings.

Have people successfully withdrawn their savings out of aldermore afterwards?

Many thanks 

ColdIron

It's normal for challenger banks to use a pooled account for deposits, I have been using Aldermore for more than 10 years now

Presumably they are asking you to use the following details

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

Albermarle

If a bank is mentioned here 
Savings accounts: 2.75% easy access or up to 5% fixed (moneysavingexpert.com)
Or here
Compare The Best UK Savings Accounts | moneyfacts.co.uk

They are completely legit.

I use Aldermore with no problems. When you send the money it can take a working day to show up in your account.

AndrewSteele888

Smartsave is the same (uses Barclays as well)

MACKEM99

I always transfer a small sun first to a new account.

Rollinghome

JessAnne said:

Hi,
I just wanted to get some advice to make sure that it's safe to open an aldermore double access savings account and transfer money to their general account number?

Is this all genuine? I'm concerned about being scammed out of my savings.

Have people successfully withdrawn their savings out of aldermore afterwards?

Many thanks 

If you are making a transfer from any major UK  bank, it's almost certain to offer "Confirmation of Payee" (CoP) when you set up a new payee.  If you use the details confirmed by ColdIron, and select "Business", it should confirm that you've entered the right sort and a/c nos (but not your reference) for that payee, or alert you should it be wrong. Lots of small banks and building societies use a single account number and rely on the reference to identify the client.

Many people like to transfer a token amount first, but Aldermore ask for a minimum opening balance of £1000 for their recent accounts and anything less might be rejected.

Thomas12346

JessAnne said:

Hi,
I just wanted to get some advice to make sure that it's safe to open an aldermore double access savings account and transfer money to their general account number?

Is this all genuine? I'm concerned about being scammed out of my savings.

Have people successfully withdrawn their savings out of aldermore afterwards?

Many thanks 

Did you get anywhere with this?

I am in the same position.

When paying into the Aldermore account, are you meant to put "Aldermore Bank PLC" as the payee?

Is a payee the same as a beneficiary?

I am trying to transfer in from a Barclays account and it keeps giving me warning messages so I haven't made a payment yet.

Downthedrain

Did you get the confirmation Email when you opened the account? We've been with Aldermore for 4 years without any problems with the accounts. My Wife transferred funds to them only yesterday using the following instructions

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: NNNNNNN (your own reference number is in the email) and first three letters of your surname

db3745

Thomas12346 said:

JessAnne said:

Hi,
I just wanted to get some advice to make sure that it's safe to open an aldermore double access savings account and transfer money to their general account number?

Is this all genuine? I'm concerned about being scammed out of my savings.

Have people successfully withdrawn their savings out of aldermore afterwards?

Many thanks 

Did you get anywhere with this?

I am in the same position.

When paying into the Aldermore account, are you meant to put "Aldermore Bank PLC" as the payee?

Is a payee the same as a beneficiary?

I am trying to transfer in from a Barclays account and it keeps giving me warning messages so I haven't made a payment yet.

I arrived at this thread when trying to get some positive feedback on SmartSave, as I see they offer a top rate 1 year fix at 4.36%.

I was struck by your experience when attempting to make a payment from a Barclays account to one of these non-High Street banks. I've relayed elsewhere the unnecessary trauma I went through one weekend two years ago trying to pay in to a new Union Bank of India fixed rate bond from my own Barclays account. Barclays could have saved me all this had any one of a succession of chat and phone staff been aware that their own employer, Barclays, acted as a clearing house for Bank of India. All I kept getting on the Barclays payment page was the warning sign that we can't recognise this payee, can't authenticate them etc etc. I actually enjoy using their log-in procedures but they could use some intelligence in payment authentication, rather than the blunt instrument which puts the fear of god into customers unnecessarily.