VANQUIS 60 day notice account

Growingold

I recently opened this account.  I know the minimum balance for this account is £1000 but wanted to send a test payment first before sending this amount.  I sent  £1 as a test payment but it is still not showing in my account balance.  Will it not show until I've reached the £1000 minimum balance.?  What were other peoples experiences?  Thanks

ToastLady

Have you checked if your £1 has been returned to your account? Vanquis will only accept the full £1000 required for opening account. If your £1 has been returned, you have the correct details for your new account.

Aidanmc

Growingold said:

I recently opened this account.  I know the minimum balance for this account is £1000 but wanted to send a test payment first before sending this amount.  I sent  £1 as a test payment but it is still not showing in my account balance.  Will it not show until I've reached the £1000 minimum balance.?  What were other peoples experiences?  Thanks

The £1 will be returned.

Ayr_Rage

An odd £1 payment to a new payee can also trigger issues at the paying bank.

Do check that it has not been held as a suspicious transaction by your own bank.

Growingold

ToastLady said:

Have you checked if your £1 has been returned to your account? Vanquis will only accept the full £1000 required for opening account. If your £1 has been returned, you have the correct details for your new account.

Hasn't been returned as yet.  Sent it yesterday.  Just wary of sending the £1,000 straight to a new account as COP check is for Vanquis Bank and not my name.

Ayr_Rage

Growingold said:

ToastLady said:

Have you checked if your £1 has been returned to your account? Vanquis will only accept the full £1000 required for opening account. If your £1 has been returned, you have the correct details for your new account.

Hasn't been returned as yet.  Sent it yesterday.  Just wary of sending the £1,000 straight to a new account as COP check is for Vanquis Bank and not my name.

With Vanquis (Trading 212, Charter Savings Bank and others) you use the generic COP, you do not get an individual account number but you MUST add your customer reference number to the payment as that shows them where it is to go.

With Nationwide and Santander you add the payee as a business.

ToastLady

Growingold said:

ToastLady said:

Have you checked if your £1 has been returned to your account? Vanquis will only accept the full £1000 required for opening account. If your £1 has been returned, you have the correct details for your new account.

Hasn't been returned as yet.  Sent it yesterday.  Just wary of sending the £1,000 straight to a new account as COP check is for Vanquis Bank and not my name.

Check again near end of working day, that's when they seem to make payments. That's if your own bank hasn't put it on hold as already suggested.

jaypers

Depending on whether your Bank have updated their systems, COP checks are increasingly allowing checks to work against the reference number when payments are to a generic holding account.  Barclays works with Principality like this. As a comparison, Chase does not. 

poolboy

I had this it took 2 days for 1gbp return. I found better accounts available at the time so did not pursue.