HSBC transfers to building society accounts

YorkshireBoy

s71hj wrote: »

I think it was Barclays to YBS. They had set up the payment for the 30th, expecting it to not hit YBS until 2nd or 3rd, and it arrived same day, breaching the t&cs of the regular saver.

More likely it was NatWest to YBS, since YBS use a NatWest 'collections account' (sort code 60-92-04) for payment processing...

http://www.ybs.co.uk/your_society/help/sort_codes.jsp

quinlanmd

Comparing my HSBC statements and passbook credit dates:

Catholic BS: same date
Leeds BS: next day
Leek BS: two days
Scarborough BS: same day

I have not held a West Brom BS Regular Saver for a few years, but back in 2004 credits were showing the standard two day delay - I do not know if this is still the case.

Don't forget that on standing orders and outward BACS payments (not DDs), HSBC take the two day BACS cycle (plus weekends/bank holidays if applicable) into account for interest purposes (certainly on external payments, I've never checked whether the same applies to standing orders to companies/building societies who themselves hold their accounts with HSBC).

If you have an overdraft facility that you do not use, you can make use of this by setting up your regular savings standing orders for dates two WORKING days prior to your monthly salary date if you are looking to maximise interest (obviously ensuring that your overdraft is large enough to cover the standing order payments from the sent date and any other items going through clearing to avoid any possibility of excess overdraft fees).