oxbury bank - withdrawal timings

slinger2

allegro120 said:

slinger2 said:

Lettuce2 said:

I requested a withdrawal just before 5am today Tuesday 01st October 2024.
The monies was not deposited into my  son's linked account until 15.09 Tuesday 1st October.

Please be aware that if you needed to cover an overdraft with your  current account before say 2pm. This deposit won't be received on time.

This is just what you'd expect based on their terms.

"You will be able to ... make a withdrawal to your Linked Account ... provided your instruction is received before 1.00pm on a Working Day and passes our payment validation requirements."

"You will receive your money into your Linked Account by the end of the Working Day your instruction was processed."

I've never had EA account with Oxbury, but from experience with notice accounts all scheduled withdrawals arrive on the date in early hours in the morning including weekends.  I wonder if there is a facility to schedule withdrawals from EA?

There is an option with the EA account to withdraw the money at a future date. I've not used it and I don't know if that money would arrive first thing or late in the day.

InvesterJones

slinger2 said:

allegro120 said:

slinger2 said:

Lettuce2 said:

I requested a withdrawal just before 5am today Tuesday 01st October 2024.
The monies was not deposited into my  son's linked account until 15.09 Tuesday 1st October.

Please be aware that if you needed to cover an overdraft with your  current account before say 2pm. This deposit won't be received on time.

This is just what you'd expect based on their terms.

"You will be able to ... make a withdrawal to your Linked Account ... provided your instruction is received before 1.00pm on a Working Day and passes our payment validation requirements."

"You will receive your money into your Linked Account by the end of the Working Day your instruction was processed."

I've never had EA account with Oxbury, but from experience with notice accounts all scheduled withdrawals arrive on the date in early hours in the morning including weekends.  I wonder if there is a facility to schedule withdrawals from EA?

There is an option with the EA account to withdraw the money at a future date. I've not used it and I don't know if that money would arrive first thing or late in the day.

It's the same as a pre-1pm withdrawal - money received by end of the working day (and at the moment, shortly after the 3pm they seem to do their processing).

dosh37

dreaMer001 said:

What has been your experience with withdrawal timings from oxbury Personal Easy Access Account to linked current account?

I did a test a few days ago. unfortunately, I made the withdrawal just after the cut-off time of 1 pm on weekday. It was done at 1:23 pm on 13.05.2024. The money arrived at my nationwide current account the next day (14.05.2024) at 3:01 pm. I know this because oxbury sends an email saying withdrawal has been processed. I checked the nationwide account soon as I saw the email at 3:01 pm and the money had arrived. 

Just now I did another test withdrawal (3:56 am on 15.05.2024). Message on screen saying 'withdrawal successful' and 'this will reach your account by the end of the next working day - you will receive a confirmation email'.

Seems like a faster payment? Usually within 2 hours but can be up to next working day 5 pm. I know payments can be sometimes held for longer for checks. But curious what the general timings are.

My balance at Oxbury is still the same (as before doing the withdrawal). i.e. £19. I did a payment for £9. So once the payment is processed balance should go down to £10. I think the payment has still not been processed by oxbury.

Doing these tests before I move £1000 to qualify for the 4.94% interest.

Doing these tests before I move £1000 to qualify for the 4.94% interest?

I am interested to know which Oxbury account is paying 4.94%. I am only getting 4.87% AER (Easy Access Account Special Edition 1).

slinger2

dosh37 said:

dreaMer001 said:

What has been your experience with withdrawal timings from oxbury Personal Easy Access Account to linked current account?

I did a test a few days ago. unfortunately, I made the withdrawal just after the cut-off time of 1 pm on weekday. It was done at 1:23 pm on 13.05.2024. The money arrived at my nationwide current account the next day (14.05.2024) at 3:01 pm. I know this because oxbury sends an email saying withdrawal has been processed. I checked the nationwide account soon as I saw the email at 3:01 pm and the money had arrived. 

Just now I did another test withdrawal (3:56 am on 15.05.2024). Message on screen saying 'withdrawal successful' and 'this will reach your account by the end of the next working day - you will receive a confirmation email'.

Seems like a faster payment? Usually within 2 hours but can be up to next working day 5 pm. I know payments can be sometimes held for longer for checks. But curious what the general timings are.

My balance at Oxbury is still the same (as before doing the withdrawal). i.e. £19. I did a payment for £9. So once the payment is processed balance should go down to £10. I think the payment has still not been processed by oxbury.

Doing these tests before I move £1000 to qualify for the 4.94% interest.

Doing these tests before I move £1000 to qualify for the 4.94% interest?

I am interested to know which Oxbury account is paying 4.94%. I am only getting 4.87% AER (Easy Access Account Special Edition 1).

That was posted on 15 May 2024. Rates are lower now.