Principality building society payee details.

Bob2000

Hello.
Can somebody  tell me if l still use Business when creating  a standing order with PBS?
I know you use your name instead of PBS now.

Bigwheels1111

Personal from memory.

refluxer

Most banks and building societies have help pages with info about paying into their accounts these days - this is from Principality's savings support page...

1. Move money online 
Use these details to transfer money from another account: 
 
Sort code: 20-18-23 
Account Number: 90653535 
Reference: Use your Principality savings account number 
Payee: Your name 
 
What you need to know 

• We use Barclays as our bank provider. Don’t worry if your bank flags that you’re moving money to a Barclays account. 
• The money should show in your Principality account within two hours. 
• If you plan to save regularly you can set up a standing order after your first payment. This must be from a UK bank or building society account in your name.  
• If you're planning to transfer money into your account on the same day you open it, your bank might not recognise your name as one that matches the account straight away. The transfer will still work, but be sure to double check the reference number is correct.

eskbanker

refluxer said:

Most banks and building societies have help pages with info about paying into their accounts these days - this is from Principality's savings support page...

...but doesn't include the answer to OP's question!

refluxer

eskbanker said:

refluxer said:

Most banks and building societies have help pages with info about paying into their accounts these days - this is from Principality's savings support page...

...but doesn't include the answer to OP's question!

Ha ! Yes, I should have expanded on what I was getting at which was that because you now use your name as the payee rather than 'Principality Building Society', then it would presumably be Personal and not Business for a standing order.

Stargunner

eskbanker said:

refluxer said:

Most banks and building societies have help pages with info about paying into their accounts these days - this is from Principality's savings support page...

...but doesn't include the answer to OP's question!

As long as you have the correct acc No, sort code and ref No it doesn’t matter whether you select  personal or business, but as you are paying to your own name you may as well select personal..

Bob2000

refluxer said:

eskbanker said:

refluxer said:

Most banks and building societies have help pages with info about paying into their accounts these days - this is from Principality's savings support page...

...but doesn't include the answer to OP's question!

Ha ! Yes, I should have expanded on what I was getting at which was that because you now use your name as the payee rather than 'Principality Building Society', then it would presumably be Personal and not Business for a standing order.

So still not sure then?
Thank you anyway.

Bob2000

Stargunner said:

eskbanker said:

refluxer said:

Most banks and building societies have help pages with info about paying into their accounts these days - this is from Principality's savings support page...

...but doesn't include the answer to OP's question!

As long as you have the correct acc No, sort code and ref No it doesn’t matter whether you select  personal or business, but as you are paying to your own name you may as well select personal..

Made sense to me to do that but wanted to check with more experienced  savers.

refluxer

Bob2000 said:

refluxer said:

eskbanker said:

refluxer said:

Most banks and building societies have help pages with info about paying into their accounts these days - this is from Principality's savings support page...

...but doesn't include the answer to OP's question!

Ha ! Yes, I should have expanded on what I was getting at which was that because you now use your name as the payee rather than 'Principality Building Society', then it would presumably be Personal and not Business for a standing order.

So still not sure then?
Thank you anyway.

If you're paying yourself, then don't use 'Business'. As mentioned above, it most-likely won't matter though and even if it was an issue, your bank would flag it up straight away and not allow you to set up the SO anyway.

AmityNeon

Personal

I tested this when Principality stated (on a one-time post-application screen) that the payee should still be 'Business' even despite the new CoP checks, and I was certain this was wrong. Chase flagged it as mismatched because a personal account was found instead using the other details provided (personal name, sort code, account number and secondary reference data).

Bob2000

AmityNeon said:

Personal

I tested this when Principality stated (on a one-time post-application screen) that the payee should still be 'Business' even despite the new CoP checks, and I was certain this was wrong. Chase flagged it as mismatched because a personal account was found instead using the other details provided (personal name, sort code, account number and secondary reference data).

Thank you for answering my question.