YBS Loyalty Regular saver - paying in

gele

Hi all.
I've just managed to open this regular saver [just become eligible] and was wondering if I could pay in today as a September payment and then set up a regular payment for future payments to go in on 1st Oct. Thought it made sense to get as much in as early as possible. 
Thanks

gele

I have just had to ring YBS so got my question answered. 
For anyone else wondering if you are in the same situation, I can pay in up to £500 today and then up to £500 tomorrow as my October payment.

35har1old

gele said:

I have just had to ring YBS so got my question answered. 
For anyone else wondering if you are in the same situation, I can pay in up to £500 today and then up to £500 tomorrow as my October payment.

How did you make the payment today? (This being Saturday)
It states in the terms make sure your bank sets up SO with sufficient time for it to be credited to the account. Also you can after the initial payment make a further 11 payments only.
Is the account visible on you screen today so that you can confirm it being credited today.if not I won't make the second payment till you can confirm as it can take up to 10 days to return 

gele

Hi 
I made a payment this morning from Santander. Money took about 30 mins to show in the account online at YBS. Didn't do it as a Standing order.

Bridlington1

35har1old said:

gele said:

I have just had to ring YBS so got my question answered. 
For anyone else wondering if you are in the same situation, I can pay in up to £500 today and then up to £500 tomorrow as my October payment.

How did you make the payment today? (This being Saturday)
It states in the terms make sure your bank sets up SO with sufficient time for it to be credited to the account. Also you can after the initial payment make a further 11 payments only.
Is the account visible on you screen today so that you can confirm it being credited today.if not I won't make the second payment till you can confirm as it can take up to 10 days to return 

You don't have to make deposits by SO. You can make deposits by one off faster payments, transfers from another YBS account or by debit card as well, each of those methods allow you to add funds to the account the same day.

Also you can make more than 11 further deposits if you wish since you can deposit as many times as you like within a calendar month so long as your total monthly deposit doesn't exceed £500. If you wanted to you could make say, 5 £100 deposits each month.

allegro120

Bridlington1 said:

35har1old said:

gele said:

I have just had to ring YBS so got my question answered. 
For anyone else wondering if you are in the same situation, I can pay in up to £500 today and then up to £500 tomorrow as my October payment.

How did you make the payment today? (This being Saturday)
It states in the terms make sure your bank sets up SO with sufficient time for it to be credited to the account. Also you can after the initial payment make a further 11 payments only.
Is the account visible on you screen today so that you can confirm it being credited today.if not I won't make the second payment till you can confirm as it can take up to 10 days to return 

You don't have to make deposits by SO. You can make deposits by one off faster payments, transfers from another YBS account or by debit card as well, each of those methods allow you to add funds to the account the same day.

Also you can make more than 11 further deposits if you wish since you can deposit as many times as you like within a calendar month so long as your total monthly deposit doesn't exceed £500. If you wanted to you could make say, 5 £100 deposits each month.

Just to add - The maximum balance (excluding interest) is £6,000, so if you are depositing the full allowance every month you can't make more than 12 payments.

friolento

allegro120 said:

Bridlington1 said:

35har1old said:

gele said:

I have just had to ring YBS so got my question answered. 
For anyone else wondering if you are in the same situation, I can pay in up to £500 today and then up to £500 tomorrow as my October payment.

How did you make the payment today? (This being Saturday)
It states in the terms make sure your bank sets up SO with sufficient time for it to be credited to the account. Also you can after the initial payment make a further 11 payments only.
Is the account visible on you screen today so that you can confirm it being credited today.if not I won't make the second payment till you can confirm as it can take up to 10 days to return 

You don't have to make deposits by SO. You can make deposits by one off faster payments, transfers from another YBS account or by debit card as well, each of those methods allow you to add funds to the account the same day.

Also you can make more than 11 further deposits if you wish since you can deposit as many times as you like within a calendar month so long as your total monthly deposit doesn't exceed £500. If you wanted to you could make say, 5 £100 deposits each month.

Just to add - The maximum balance (excluding interest) is £6,000, so if you are depositing the full allowance every month you can't make more than 12 payments.

You don't have to make your monthly allowance in a single payment each month. So whilst you are correct that the max balance at the end of 12 months cannot be more than £6,000, this can be made by many more than 12 deposits.

35har1old

Bridlington1 said:

35har1old said:

gele said:

I have just had to ring YBS so got my question answered. 
For anyone else wondering if you are in the same situation, I can pay in up to £500 today and then up to £500 tomorrow as my October payment.

How did you make the payment today? (This being Saturday)
It states in the terms make sure your bank sets up SO with sufficient time for it to be credited to the account. Also you can after the initial payment make a further 11 payments only.
Is the account visible on you screen today so that you can confirm it being credited today.if not I won't make the second payment till you can confirm as it can take up to 10 days to return 

You don't have to make deposits by SO. You can make deposits by one off faster payments, transfers from another YBS account or by debit card as well, each of those methods allow you to add funds to the account the same day.

Also you can make more than 11 further deposits if you wish since you can deposit as many times as you like within a calendar month so long as your total monthly deposit doesn't exceed £500. If you wanted to you could make say, 5 £100 deposits each month.

It takes to the next day to setup a new transfer between accounts.why would you want to make 5 payments as the idea is to get the money in as quick as possible of course you could make 5 payments from five different  accounts all on the same day are make a payment everyday As the OP stated he was looking to fund the account with £500 as soon as possible to obtain the maximum benefit so 11 more payments
As the OP had left it to the last day of the month the internal transfer was not available to him.
Debt Cards
don't clear on the same day.and don't  earn interest for 2 days
So the only option  was to make a faster payment