Paying in to Coventry Building Society savings accounts 15 January at 4:48PM in Savings & investments 16 replies 1.4K views

throughtheblue

Paid into my new CBS savings accounts, under £10k from my current online banking current account.

I kept the payment under 10k, as I thought this meant the payments into the savings account were immediate, but nothing showing yet. Does anyone have any experience sending money to different savings accounts for the first time? Just after reassurance, account details all correct.

ForumUser7

throughtheblue said:

Paid into my new CBS savings accounts, under £10k from my current online banking current account.

I kept the payment under 10k, as I thought this meant the payments into the savings account were immediate, but nothing showing yet. Does anyone have any experience sending money to different savings accounts for the first time? Just after reassurance, account details all correct.

Coventry BS payments take a couple of hours to show (assuming the correct details were entered)

throughtheblue

ForumUser7 said:

throughtheblue said:

Paid into my new CBS savings accounts, under £10k from my current online banking current account.

I kept the payment under 10k, as I thought this meant the payments into the savings account were immediate, but nothing showing yet. Does anyone have any experience sending money to different savings accounts for the first time? Just after reassurance, account details all correct.

Coventry BS payments take a couple of hours to show (assuming the correct details were entered)

Thanks, will check back in a couple of hours. Does this apply to weekends as well?
There wasn't a payment reference to enter, so I just gave it a generic one, presuming that was ok.

ForumUser7

throughtheblue said:

ForumUser7 said:

throughtheblue said:

Paid into my new CBS savings accounts, under £10k from my current online banking current account.

I kept the payment under 10k, as I thought this meant the payments into the savings account were immediate, but nothing showing yet. Does anyone have any experience sending money to different savings accounts for the first time? Just after reassurance, account details all correct.

Coventry BS payments take a couple of hours to show (assuming the correct details were entered)

Thanks, will check back in a couple of hours. Does this apply to weekends as well?
There wasn't a payment reference to enter, so I just gave it a generic one, presuming that was ok.

It does - and bank holidays I found around the start of this year too.

ForumUser7

throughtheblue said:

ForumUser7 said:

throughtheblue said:

Paid into my new CBS savings accounts, under £10k from my current online banking current account.

I kept the payment under 10k, as I thought this meant the payments into the savings account were immediate, but nothing showing yet. Does anyone have any experience sending money to different savings accounts for the first time? Just after reassurance, account details all correct.

Coventry BS payments take a couple of hours to show (assuming the correct details were entered)

Thanks, will check back in a couple of hours. Does this apply to weekends as well?
There wasn't a payment reference to enter, so I just gave it a generic one, presuming that was ok.

Re references - that’s right, Coventry BS gives account numbers that link to the specific accounts rather than just a generic account number and payment reference.

poppystar

ForumUser7 said:

throughtheblue said:l

ForumUser7 said:

throughtheblue said:

Paid into my new CBS savings accounts, under £10k from my current online banking current account.

I kept the payment under 10k, as I thought this meant the payments into the savings account were immediate, but nothing showing yet. Does anyone have any experience sending money to different savings accounts for the first time? Just after reassurance, account details all correct.

Coventry BS payments take a couple of hours to show (assuming the correct details were entered)

Thanks, will check back in a couple of hours. Does this apply to weekends as well?
There wasn't a payment reference to enter, so I just gave it a generic one, presuming that was ok.

Re references - that’s right, Coventry BS gives account numbers that link to the specific accounts rather than just a generic account number and payment reference.

Isn’t the payment reference they suggest your name? 

Bridlington1

It doesn't really matter what you put as your reference when paying into Coventry, it'll get through as @ForumUser7 has stated. The reference won't show on the Coventry statement anyway for some reason so I'd just pick one that allows you to easily identify the account when looking at your list of saved payees in your current account.

Whilst I remember, unlike many banks/building societies you don't need to send the payment from your nominated account either.

throughtheblue

Main thing for me is knowing usual payment times.
I've kept all my banking in one place for so long, that it's a bit disconcerting seeing a sum leave my account without showing in another, but details are all correct so will just have to wait.

propertyrental

Not sure why you think payments less than £10K would be faster. Having said that, my nationwide current account limits Faster Payments to £10K so it's been a while since I sent more than that. 

Your biggest worry is entering the destination bank details wrong and have the money disappear into the void (or someone else's account). Many of us make an initial payment of £1.00, check it arrives safely, and then send the rest knowing the payment details have been set up correctly.

MikeJXE

Coventry takes a couple of hours online

A cheque at the branch is instant 

Growingold

throughtheblue said:

Main thing for me is knowing usual payment times.
I've kept all my banking in one place for so long, that it's a bit disconcerting seeing a sum leave my account without showing in another, but details are all correct so will just have to wait.

Thank goodness you didn't send it to Mansfield then took 3 days to show though payment was backdated