Hanley Economic Building Society BRANCH SAVER

10_66

gwapenut said:

My electronic transfers are finally showing into my hanley accounts, as "funds received not allocated". Does anyone know what this means?

I had the same for my last but one addition to funds, it first showed received (as an addition), then received but not allocated (as a deduction), then received again, this was all on the same date (the last but one computer glitch they had).  I know they had another glitch on the 31st August, so I imagine it's because of the same reason, so hopefully, it'll show as received again soon.  I haven't been able to log on since last Friday, but haven't tried again today.

gwapenut

Thanks, I've seen the same pattern when adding funds.

Is there a daily limit on incoming faster payments to an account? I couldn't really get a straight answer. I know there is a £10k limit per faster payment, but not whether it was also a daily limit. Things got confused on the phone between incoming and outgoing limits.

I also gather that if I have a joint account and a sole account, any daily limits apply per account rather than to me as a person across all accounts

refluxer

gwapenut said:

Thanks, I've seen the same pattern when adding funds.

Is there a daily limit on incoming faster payments to an account? I couldn't really get a straight answer. I know there is a £10k limit per faster payment, but not whether it was also a daily limit. Things got confused on the phone between incoming and outgoing limits.

I also gather that if I have a joint account and a sole account, any daily limits apply per account rather than to me as a person across all accounts

There won't be any daily limits for deposits, although don't forget that this account has a maximum balance limit of £50k. The only limit you'll encounter is the per-transaction and/or daily payment limits set by the bank or building society you're sending from.

The Branch Saver T&Cs state that you can only make one withdrawal per month without penalty and that'll be regardless of the method used so, if it's possible to provide written instruction to withdraw up to £10k via faster payment, then that'll essentially be a monthly limit if you don't want to withdraw via cheque and want to avoid a loss of interest.

You can withdraw once per calendar month without penalty up to £500 in cash and £70,000 by cheque on demand from our branches or by sending us your written instructions. Larger cash sums up to £5,000 are available by giving at least 24 hours notice. Cheque withdrawals over £70,000 can be obtained from our Registered Office. All other withdrawals are subject to 30 days loss of interest on the amount withdrawn. Following any withdrawals £1,000 should remain in the account.

10_66

gwapenut said:

Thanks, I've seen the same pattern when adding funds.

Is there a daily limit on incoming faster payments to an account? I couldn't really get a straight answer. I know there is a £10k limit per faster payment, but not whether it was also a daily limit. Things got confused on the phone between incoming and outgoing limits.

I also gather that if I have a joint account and a sole account, any daily limits apply per account rather than to me as a person across all accounts

If my memory serves me, I think the £10,000 withdrawal a month limit is for faster payments, if you want to withdraw by cheque I think the limit is £70,000.  

10_66

qbadger said:

Is there a template to use for the withdrawal instruction letter? 

Does the passbook need to be sent in at the same time?

Passbook does need to be sent with letter.

drphila

refluxer said:

gwapenut said:

Thanks, I've seen the same pattern when adding funds.

Is there a daily limit on incoming faster payments to an account? I couldn't really get a straight answer. I know there is a £10k limit per faster payment, but not whether it was also a daily limit. Things got confused on the phone between incoming and outgoing limits.

I also gather that if I have a joint account and a sole account, any daily limits apply per account rather than to me as a person across all accounts

There won't be any daily limits for deposits, although don't forget that this account has a maximum balance limit of £50k. The only limit you'll encounter is the per-transaction and/or daily payment limits set by the bank or building society you're sending from.

The Branch Saver T&Cs state that you can only make one withdrawal per month without penalty and that'll be regardless of the method used so, if it's possible to provide written instruction to withdraw up to £10k via faster payment, then that'll essentially be a monthly limit if you don't want to withdraw via cheque and want to avoid a loss of interest.

You can withdraw once per calendar month without penalty up to £500 in cash and £70,000 by cheque on demand from our branches or by sending us your written instructions. Larger cash sums up to £5,000 are available by giving at least 24 hours notice. Cheque withdrawals over £70,000 can be obtained from our Registered Office. All other withdrawals are subject to 30 days loss of interest on the amount withdrawn. Following any withdrawals £1,000 should remain in the account.

You can withdraw more than £10k to their instant access account and then £10k per day max from there but there will be a small interest loss while it sits in the IA account

HHUK

qbadger said:

Is there a template to use for the withdrawal instruction letter? 

Does the passbook need to be sent in at the same time?

Not an official template by any means, but this is what I sent to the FREEPOST HEBS address together with my passbook. The letter did the job, but I forgot there is a £10 charge for withdrawal by Faster Payments to the nominated account. As yet it's not showing as a deduction in my balance:

[Address line 1]

[Address line 2]

[Address line 3]

[Postcode]

Email: xxxxxxxxxxxxx@xxxxxxxxx

[Date]

Dear Sirs,

Account Number: xxxxxxxx

Withdrawal Instruction

I wish to withdraw the sum of £[xx.xx] from the above account.

Please arrange for this to be sent to me as soon as possible, preferably by electronic transfer to my nominated account. If an electronic transfer can not be made, then please send a cheque payable to me to my above registered address.

Thank you.

Yours faithfully,

[Signature]

[Name Name]

happybagger

I always add "I enclose the passbook to enable the withdrawal" on my templates, it serves as a reminder to me to enclose it 

10_66

HHUK said:

qbadger said:

Is there a template to use for the withdrawal instruction letter? 

Does the passbook need to be sent in at the same time?

Not an official template by any means, but this is what I sent to the FREEPOST HEBS address together with my passbook. The letter did the job, but I forgot there is a £10 charge for withdrawal by Faster Payments to the nominated account. As yet it's not showing as a deduction in my balance:

There is only a charge for FP if over £10K.

HHUK

10_66 said:

There is only a charge for FP if over £10K.

Also for £499.99 and below:

https://thehanley.co.uk/savings-accounts/savings-account-service-charges/

Faster Payment An electronic transfer of funds up to a maximum of £10,000.00 to another institution from a savings account.  This is a non trackable service and funds can take up to 24 hours to reach the receiving bank.  Only processed Mon – Fri, any requests received after 2.30pm or on a Saturday may be processed the next working day. 1 faster payment transfer between £500 & £10,000 per customer per day will be permitted free of charge. Please note the receiving bank sort code must permit a Faster Payment receipt otherwise the funds will be returned.

£10 for transfer values of £499.99 & below