Chip to Newcastle BS

Durban

I have a largish sum of money from the sale of a BTL that I have transferred over a few days from Santander to Chip 

I had called Santander in advance to let them know that the money was coming in and then going to be going out fairly quickly so they could make a note and not block the payments or access to my account. 

Unfortunately this did not work and my account was blocked several times ( the third time accidentally as they hadn’t taken the block off when they said they had ). I then had to sit on the phone for almost an hour at a time to Santander’s fraud department getting them to unblock the account. 

I do understand the reasons they are doing this and rather be safe than sorry. 

I now have this money in Chip but as soon as I receive my authentication code from NCB I will be wanting to transfer it to them , not only because of the slightly better interest rate but also because I want the interest to be paid annually which you can opt for with NCB so that I can have the interest paid next tax year and not this tax year 

It appears that on my Chip account it seems that I can only withdraw to my Santander account and doesn’t give me an option to add another 

Does anyone know if I can withdraw to Newcastle from Chip otherwise I will have to withdraw to Santander and then pay it all into NCB and I will probably be blocked again by Santander 

Many thanks 

Mrnkar_2

I had the same problem with Santander when trying to add Newcastle as a payee as it also appeared I could only have one payee. I deleted that payee and then it let me add Newcastle. I transferred a small amount to Newcastle as a test and it has gone into my account. 
By the way you don't need to wait for the code from Newcastle. That is only needed when withdrawing money from account not depositing it.
https://forums.moneysavingexpert.com/discussion/6457665/help-regarding-norminated-bank-account#latest

Durban

Mrnkar_2 said:

I had the same problem with Santander when trying to add Newcastle as a payee as it also appeared I could only have one payee. I deleted that payee and then it let me add Newcastle. I transferred a small amount to Newcastle as a test and it has gone into my account. 
By the way you don't need to wait for the code from Newcastle. That is only needed when withdrawing money from account not depositing it.
https://forums.moneysavingexpert.com/discussion/6457665/help-regarding-norminated-bank-account#latest

Yes but I want to add Newcastle as a payee to Chip but it doesn’t seem to give me the option

At the moment I don’t want to transfer anymore money to Newcastle until I actually get my authentication code to withdraw.  They seem a bit slow 

allegro120

Durban said:

Does anyone know if I can withdraw to Newcastle from Chip otherwise I will have to withdraw to Santander and then pay it all into NCB and I will probably be blocked again by Santander 

Many thanks 

I could be wrong, but I don't think you can.  AFAIK you can only connect banks that participate in open banking to Chip.

Doctor_Who

Durban said:

Mrnkar_2 said:

I had the same problem with Santander when trying to add Newcastle as a payee as it also appeared I could only have one payee. I deleted that payee and then it let me add Newcastle. I transferred a small amount to Newcastle as a test and it has gone into my account. 
By the way you don't need to wait for the code from Newcastle. That is only needed when withdrawing money from account not depositing it.
https://forums.moneysavingexpert.com/discussion/6457665/help-regarding-norminated-bank-account#latest

Yes but I want to add Newcastle as a payee to Chip but it doesn’t seem to give me the option

At the moment I don’t want to transfer anymore money to Newcastle until I actually get my authentication code to withdraw.  They seem a bit slow 

As far as I know Chip only allows you to link to one account at a time, it's not like a 'normal' bank where you can setup multiple payees.

boingy

The Chip account is a savings account not a current account so it is designed to link to one nominated current account for money transfer in and out but you can now send money to it from any current account using the sort code and account number. Withdrawals have to go to the nominated account though.

cing0

The authenticate nominated account actually means validate your postal address and they won't let you withdraw without it. When my code wasn't accepted online due to requesting a replacement, Newcastle refused to authenticate despite giving the code in a secure message.
It was only when the FOS got the complaint that the authentication was miraculously 'overridden manually'.