General Discussion and Whimsical Banter

csw5780

UK inflation fell unexpectedly to 1.7% in the year to September, the lowest rate in three-and-a-half years.

https://apple.news/AwRJJJzbZQ9u22OOGGzRK2Q

Bridlington1

Aldermore Bank are joining Confirmation of Payee:

Important Update on how you’ll pay money into your account - from 22 October   Dear Bridlington1,   Thanks for choosing to save with us.     At Aldermore, we're here to make saving simpler, smarter, and work harder for you.    As part of our ongoing commitment to protecting your savings, we’re pleased to inform you that on 22 October, we’ll be joining the Confirmation of Payee (CoP) scheme.      We’ve included more information below, including how it’ll affect you, if you’re setting up a new electronic payment into your savings account.

What is the Confirmation of Payee Scheme?  The Confirmation of Payee Scheme is all about making your payments safer by checking that the account holder's name matches the account details, helping to reduce fraud and ensure your money goes where it's meant to. If you’d like to learn more about the scheme, you can find out more in our FAQs.

How will this affect me? From 22 October, how you make a deposit into your savings account will change.

What’s changing? •   The beneficiary will no longer be ‘Aldermore Bank PLC’, and instead will be replaced by your first and surname. •   Your reference will be your account number only and no other details. For more information, please see below.

Paying money in from 22 October If you already have a regular payment set up to send funds to your Aldermore account, you don’t need to do anything. Your existing payment will continue to be paid into your account. From 22 October, if you’re setting up a new electronic payment into your savings account, you’ll need to input the following information: •   Your Full Name: (first name and surname) ​ •   Our Account Number: 63684431 •   Our sort code: 20-19-90 (this may show as Barclays, we partner with them as our clearing bank) •   Reference: Your seven-digit account number

Important information to note. As we join the Confirmation of Payee Scheme, other banks and building societies who also participate in the scheme will have 7 days to register with us. Whilst we wait for other banks and building societies to register, you may get a message about your details not matching. If this is the case, this means your provider hasn’t yet registered with us at and you’ll need to use the previous funding information in the interim, this can be found in our FAQs.

mebu60

Barclays have completed their takeover of Tesco Bank and they now both come under a single FSCS £85k. 

subjecttocontract

mebu60 said:

Barclays have completed their takeover of Tesco Bank and they now both come under a single FSCS £85k. 

I've found that Barclays & Tesco rarely offer competitive savings rates so they are probably a good match for each other.

mebu60

subjecttocontract said:

mebu60 said:

Barclays have completed their takeover of Tesco Bank and they now both come under a single FSCS £85k. 

I've found that Barclays & Tesco rarely offer competitive savings rates so they are probably a good match for each other.

Tesco used to but I've only had £1.04 in there for quite some time now. Never had a Barclays product in any shape or form. 

Sainsbury's Bank have been pretty rubbish of late too. And soon to be taken over by Nat West. 

jameseonline

mebu60 said:

subjecttocontract said:

mebu60 said:

Barclays have completed their takeover of Tesco Bank and they now both come under a single FSCS £85k. 

I've found that Barclays & Tesco rarely offer competitive savings rates so they are probably a good match for each other.

Tesco used to but I've only had £1.04 in there for quite some time now. Never had a Barclays product in any shape or form. 

Sainsbury's Bank have been pretty rubbish of late too. And soon to be taken over by Nat West. 

Oooh didn't know about Sainsbury's Bank , interesting 

TheBanker

mebu60 said:

subjecttocontract said:

mebu60 said:

Barclays have completed their takeover of Tesco Bank and they now both come under a single FSCS £85k. 

I've found that Barclays & Tesco rarely offer competitive savings rates so they are probably a good match for each other.

Tesco used to but I've only had £1.04 in there for quite some time now. Never had a Barclays product in any shape or form. 

Sainsbury's Bank have been pretty rubbish of late too. And soon to be taken over by Nat West. 

It's interesting - when I was saving for my house deposit several years ago the bulk of my funds were with Tesco as they were usually top of the tables. Their current account was decent too before they killed it off. This was before the current crop of app-only savings accounts appeared, though.

There was a time when the banks feared the supermarkets - they thought they would take all their business. None really have, and they've mostly ended up being owned by the banks anyway. 

mebu60

Physical supermarkets were originally considered to be the entry point for people to pay in to cash ISAs. With all the unnecessary complexity over minis and maxis (that took 10 years to get rid of) they had no interest whatsoever and that idea was quickly shelved. 

UKX69

When I was young in the 1950’s, the co-op was the Tesco of its day. It was the first port of call for groceries, clothing, hardware and furniture. It even had its own coal and milk rounds! My mother used to send me into the local office to get a ‘check’ (Instant credit), a small book with tear out strips that would be used when repaying the loan weekly. Ahh, great days. 😁

dealyboy

@DasTechniker said:

When I was young in the 1950’s, the co-op was the Tesco of its day. It was the first port of call for groceries, clothing, hardware and furniture. It even had its own coal and milk rounds! My mother used to send me into the local office to get a ‘check’ (Instant credit), a small book with tear out strips that would be used when repaying the loan weekly. Ahh, great days. 😁

Nice to get a bit of the whimsical side