The Top Regular Savers Discussion Thread

cheekyweegit

Check your welcome email, it gives you the instructions for setting up a payee on your other account to the Monmouthshire RS 8

s71hj

allegro120 said:

s71hj said:

masonic said:

s71hj said:

masonic said:

friolento said:

Slinky said:

clairec666 said:

mon3ysav3r said:

Slinky said:

Sorry to ask, I'm a bit late to set up a new Monmouth account. I'm about to try to fund it, do I set it up as a Personal or Business account from my funding account please?

Good timing I just received a letter from them with this info, their instructions say:

Select Business account - even though you're paying into your account, you're paying it to MBS first

Account Name use "Monmouthshire Building Society"

Sort code 40 05 30 - will show as HSBC

Account Number 14576608

Payment Reference - your MBS savings account number

flaneurs_lobster said:

Slinky said:

Sorry to ask, I'm a bit late to set up a new Monmouth account. I'm about to try to fund it, do I set it up as a Personal or Business account from my funding account please?

Personal.   

Standing Orders and Electronic Transfer
 
To set up a standing order or make a single electronic payment to your savings account, you will need to provide the following details to your bank:

Account Name: Your full name (the account holder)

Sort Code: 40-05-30

Account Number: 14576608

Reference: XXXXXXXXXX (Please make sure there are no spaces or hyphens - use the Monmouthshire Building Society account number you want to credit).

Contradictory advice here - not just whether to use "Business" or "Personal", but also whether to us your own name or "Monmouthshire Building Society" as the account name.

I think I'll stick MBS in as the payee, I've got loads of others in my payees with my name on, so at least this will stand out a bit if it works!

I always use - with all providers - a unique "name" in the payee name field of transfers to my own accounts. Format: My initials - bank/BS initials - last 4 digits of account number.

Predictably, this leads to CoP failure, so where I am unsure about my payee details, I first get the CoP check done with my actual name, and once confirmed, I go back and change the account name to my preferred nomencalture.

It is disappointing that in this day and age there are still current account providers that do not have the capacity for you to give a separate nickname to payees in addition to the account name.

So are there only 2 bits that are relevant to making the money reach your account? I always assumed you had to do it all identical to instructions which is a pain when it comes to trying to identify what payments relate to

Sort code and account number are all that are needed for a direct transfer. For savings institutions that don't operate on that system, a reference is also required. Account name is only used for verification purposes (in the past this wasn't even checked and anything could be entered, but now the sending bank tends to treat a match as lower risk).

So account name is the one you can name in way that helps you identify what it is? I have probably 25 to 30 regular savers and am desperate to get into a system where it's easier to know what is what. 

I currently use FD, Chase and Cahoot for RS distribution.  FD allows nicknames, Chase allows changing the name after payee is set up, for Cahoot accounts I’ve made a list of mandate numbers so I know which is which.

I do everything via santander edge up as I get a decentish interest rate as I'm not sufficiently super organised to move money about daily so keep a fair chunk of money in there in advance of all my multiple monthly RS s/os. The irritant however is that once set up on my phone where I do everything, you can only amend payments on proper computer online banking rather than the app. 

Bridlington1

allegro120 said:

s71hj said:

masonic said:

s71hj said:

masonic said:

friolento said:

Slinky said:

clairec666 said:

mon3ysav3r said:

Slinky said:

Sorry to ask, I'm a bit late to set up a new Monmouth account. I'm about to try to fund it, do I set it up as a Personal or Business account from my funding account please?

Good timing I just received a letter from them with this info, their instructions say:

Select Business account - even though you're paying into your account, you're paying it to MBS first

Account Name use "Monmouthshire Building Society"

Sort code 40 05 30 - will show as HSBC

Account Number 14576608

Payment Reference - your MBS savings account number

flaneurs_lobster said:

Slinky said:

Sorry to ask, I'm a bit late to set up a new Monmouth account. I'm about to try to fund it, do I set it up as a Personal or Business account from my funding account please?

Personal.   

Standing Orders and Electronic Transfer
 
To set up a standing order or make a single electronic payment to your savings account, you will need to provide the following details to your bank:

Account Name: Your full name (the account holder)

Sort Code: 40-05-30

Account Number: 14576608

Reference: XXXXXXXXXX (Please make sure there are no spaces or hyphens - use the Monmouthshire Building Society account number you want to credit).

Contradictory advice here - not just whether to use "Business" or "Personal", but also whether to us your own name or "Monmouthshire Building Society" as the account name.

I think I'll stick MBS in as the payee, I've got loads of others in my payees with my name on, so at least this will stand out a bit if it works!

I always use - with all providers - a unique "name" in the payee name field of transfers to my own accounts. Format: My initials - bank/BS initials - last 4 digits of account number.

Predictably, this leads to CoP failure, so where I am unsure about my payee details, I first get the CoP check done with my actual name, and once confirmed, I go back and change the account name to my preferred nomencalture.

It is disappointing that in this day and age there are still current account providers that do not have the capacity for you to give a separate nickname to payees in addition to the account name.

So are there only 2 bits that are relevant to making the money reach your account? I always assumed you had to do it all identical to instructions which is a pain when it comes to trying to identify what payments relate to

Sort code and account number are all that are needed for a direct transfer. For savings institutions that don't operate on that system, a reference is also required. Account name is only used for verification purposes (in the past this wasn't even checked and anything could be entered, but now the sending bank tends to treat a match as lower risk).

So account name is the one you can name in way that helps you identify what it is? I have probably 25 to 30 regular savers and am desperate to get into a system where it's easier to know what is what. 

I currently use FD, Chase and Cahoot for RS distribution.  FD allows nicknames, Chase allows changing the name after payee is set up, for Cahoot accounts I’ve made a list of mandate numbers so I know which is which.

I use a combination of FD, Cahoot, Co-op, NatWest Group, TSB, Santander, Nationwide.

Nationwide's a good one I've found as it'll let you set up multiple payees with the same sort code & account number with different references and give nicknames to each of the payees, so is useful if you've loads of regular savers with the same bank/building society (especially Principality in my experience). Using Nationwide has also had the added benefit of making me accidentally become eligible for fairer share payments. My only bugbear is that their statements don't show references.

FD allows nicknames but has a limitation in that if you set up multiple payees with the same sort code & account number but with different references it changes the reference of each of these payees to the most recently used (same with HSBC).

I've never used Chase so can't comment on it.

s71hj

Bridlington1 said:

allegro120 said:

s71hj said:

masonic said:

s71hj said:

masonic said:

friolento said:

Slinky said:

clairec666 said:

mon3ysav3r said:

Slinky said:

Sorry to ask, I'm a bit late to set up a new Monmouth account. I'm about to try to fund it, do I set it up as a Personal or Business account from my funding account please?

Good timing I just received a letter from them with this info, their instructions say:

Select Business account - even though you're paying into your account, you're paying it to MBS first

Account Name use "Monmouthshire Building Society"

Sort code 40 05 30 - will show as HSBC

Account Number 14576608

Payment Reference - your MBS savings account number

flaneurs_lobster said:

Slinky said:

Sorry to ask, I'm a bit late to set up a new Monmouth account. I'm about to try to fund it, do I set it up as a Personal or Business account from my funding account please?

Personal.   

Standing Orders and Electronic Transfer
 
To set up a standing order or make a single electronic payment to your savings account, you will need to provide the following details to your bank:

Account Name: Your full name (the account holder)

Sort Code: 40-05-30

Account Number: 14576608

Reference: XXXXXXXXXX (Please make sure there are no spaces or hyphens - use the Monmouthshire Building Society account number you want to credit).

Contradictory advice here - not just whether to use "Business" or "Personal", but also whether to us your own name or "Monmouthshire Building Society" as the account name.

I think I'll stick MBS in as the payee, I've got loads of others in my payees with my name on, so at least this will stand out a bit if it works!

I always use - with all providers - a unique "name" in the payee name field of transfers to my own accounts. Format: My initials - bank/BS initials - last 4 digits of account number.

Predictably, this leads to CoP failure, so where I am unsure about my payee details, I first get the CoP check done with my actual name, and once confirmed, I go back and change the account name to my preferred nomencalture.

It is disappointing that in this day and age there are still current account providers that do not have the capacity for you to give a separate nickname to payees in addition to the account name.

So are there only 2 bits that are relevant to making the money reach your account? I always assumed you had to do it all identical to instructions which is a pain when it comes to trying to identify what payments relate to

Sort code and account number are all that are needed for a direct transfer. For savings institutions that don't operate on that system, a reference is also required. Account name is only used for verification purposes (in the past this wasn't even checked and anything could be entered, but now the sending bank tends to treat a match as lower risk).

So account name is the one you can name in way that helps you identify what it is? I have probably 25 to 30 regular savers and am desperate to get into a system where it's easier to know what is what. 

I currently use FD, Chase and Cahoot for RS distribution.  FD allows nicknames, Chase allows changing the name after payee is set up, for Cahoot accounts I’ve made a list of mandate numbers so I know which is which.

I use a combination of FD, Cahoot, Co-op, NatWest Group, TSB, Santander, Nationwide.

Nationwide's a good one I've found as it'll let you set up multiple payees with the same sort code & account number with different references and give nicknames to each of the payees, so is useful if you've loads of regular savers with the same bank/building society (especially Principality in my experience). Using Nationwide has also had the added benefit of making me accidentally become eligible for fairer share payments. My only bugbear is that their statements don't show references.

FD allows nicknames but has a limitation in that if you set up multiple payees with the same sort code & account number but with different references it changes the reference of each of these payees to the most recently used (same with HSBC).

I've never used Chase so can't comment on it.

Out of interest what is the gain by using so many different institutions. I'm sure there is a good reason! 

masonic

friolento said:

masonic said:

friolento said:

masonic said:

friolento said:

Slinky said:

clairec666 said:

mon3ysav3r said:

Slinky said:

Sorry to ask, I'm a bit late to set up a new Monmouth account. I'm about to try to fund it, do I set it up as a Personal or Business account from my funding account please?

Good timing I just received a letter from them with this info, their instructions say:

Select Business account - even though you're paying into your account, you're paying it to MBS first

Account Name use "Monmouthshire Building Society"

Sort code 40 05 30 - will show as HSBC

Account Number 14576608

Payment Reference - your MBS savings account number

flaneurs_lobster said:

Slinky said:

Sorry to ask, I'm a bit late to set up a new Monmouth account. I'm about to try to fund it, do I set it up as a Personal or Business account from my funding account please?

Personal.   

Standing Orders and Electronic Transfer
 
To set up a standing order or make a single electronic payment to your savings account, you will need to provide the following details to your bank:

Account Name: Your full name (the account holder)

Sort Code: 40-05-30

Account Number: 14576608

Reference: XXXXXXXXXX (Please make sure there are no spaces or hyphens - use the Monmouthshire Building Society account number you want to credit).

Contradictory advice here - not just whether to use "Business" or "Personal", but also whether to us your own name or "Monmouthshire Building Society" as the account name.

I think I'll stick MBS in as the payee, I've got loads of others in my payees with my name on, so at least this will stand out a bit if it works!

I always use - with all providers - a unique "name" in the payee name field of transfers to my own accounts. Format: My initials - bank/BS initials - last 4 digits of account number.

Predictably, this leads to CoP failure, so where I am unsure about my payee details, I first get the CoP check done with my actual name, and once confirmed, I go back and change the account name to my preferred nomencalture.

It is disappointing that in this day and age there are still current account providers that do not have the capacity for you to give a separate nickname to payees in addition to the account name.

I think it is the norm that there are no nickname fields. Only one or two providers have them, the vast majority don't. I would personally also not gain anything if I had a list of several dozens of payees, all with my name, in addition to the nickname which I can give those payees already (in the payee name field).

It would be nice to have but I reckon it would be way down the priority list of systems changes for most providers, and there are many other much more important improvements they can make. Dare I mention the ability to instantly close a current account or easy access savings account as just one example of more important improvements.........

Banks are starting to refuse to complete transactions where they check the name and it does not match 

Which banks are doing this? I use well over two dozen providers very regularly, and I make nearly a hundred payments to my own accounts every month. None of them has ever refused a transaction. The only one who keeps nagging me for every payment to one of my nicks is Starling but I can simply discard their warning. 

It may have been discussed in this thread, but there were a few banks where this was an issue, IIRC Natwest was one of them. People had to wait until they could get a CoP match before they could make a payment to their newly opened account. There was no option to ignore the warning and continue.

Starling allows you to choose a separate "Display name", so you could avoid that warning if you wanted.

masonic

s71hj said:

masonic said:

s71hj said:

masonic said:

friolento said:

Slinky said:

clairec666 said:

mon3ysav3r said:

Slinky said:

Sorry to ask, I'm a bit late to set up a new Monmouth account. I'm about to try to fund it, do I set it up as a Personal or Business account from my funding account please?

Good timing I just received a letter from them with this info, their instructions say:

Select Business account - even though you're paying into your account, you're paying it to MBS first

Account Name use "Monmouthshire Building Society"

Sort code 40 05 30 - will show as HSBC

Account Number 14576608

Payment Reference - your MBS savings account number

flaneurs_lobster said:

Slinky said:

Sorry to ask, I'm a bit late to set up a new Monmouth account. I'm about to try to fund it, do I set it up as a Personal or Business account from my funding account please?

Personal.   

Standing Orders and Electronic Transfer
 
To set up a standing order or make a single electronic payment to your savings account, you will need to provide the following details to your bank:

Account Name: Your full name (the account holder)

Sort Code: 40-05-30

Account Number: 14576608

Reference: XXXXXXXXXX (Please make sure there are no spaces or hyphens - use the Monmouthshire Building Society account number you want to credit).

Contradictory advice here - not just whether to use "Business" or "Personal", but also whether to us your own name or "Monmouthshire Building Society" as the account name.

I think I'll stick MBS in as the payee, I've got loads of others in my payees with my name on, so at least this will stand out a bit if it works!

I always use - with all providers - a unique "name" in the payee name field of transfers to my own accounts. Format: My initials - bank/BS initials - last 4 digits of account number.

Predictably, this leads to CoP failure, so where I am unsure about my payee details, I first get the CoP check done with my actual name, and once confirmed, I go back and change the account name to my preferred nomencalture.

It is disappointing that in this day and age there are still current account providers that do not have the capacity for you to give a separate nickname to payees in addition to the account name.

So are there only 2 bits that are relevant to making the money reach your account? I always assumed you had to do it all identical to instructions which is a pain when it comes to trying to identify what payments relate to

Sort code and account number are all that are needed for a direct transfer. For savings institutions that don't operate on that system, a reference is also required. Account name is only used for verification purposes (in the past this wasn't even checked and anything could be entered, but now the sending bank tends to treat a match as lower risk).

So account name is the one you can name in way that helps you identify what it is? I have probably 25 to 30 regular savers and am desperate to get into a system where it's easier to know what is what. 

Or just use one of the banks that allows you to set a separate nickname and you can call a payee whatever you like without affecting the confirmation of payee system.

clairec666

Bridlington1 said:

Nationwide's a good one I've found as it'll let you set up multiple payees with the same sort code & account number with different references and give nicknames to each of the payees, so is useful if you've loads of regular savers with the same bank/building society (especially Principality in my experience). Using Nationwide has also had the added benefit of making me accidentally become eligible for fairer share payments. My only bugbear is that their statements don't show references.

Yes - I found this useful. Natwest doesn't do this, which once resulted in me accidentally putting money into the wrong ISA. I'm using Nationwide as my "base" for distributing to regular savers now, because it will accept my multiple Principality and Skipton accounts and the nicknames make it easy to see what's what. Thumbs up all round to Nationwide.

Also, big thumbs up to Cooperative for keeping their regular saver at 7% despite the base rate cut. I haven't heard of any cuts elsewhere yet, except for Skipton which is a base rate tracker so was to be expected.

friolento

masonic said:

friolento said:

masonic said:

friolento said:

masonic said:

friolento said:

Slinky said:

clairec666 said:

mon3ysav3r said:

Slinky said:

Sorry to ask, I'm a bit late to set up a new Monmouth account. I'm about to try to fund it, do I set it up as a Personal or Business account from my funding account please?

Good timing I just received a letter from them with this info, their instructions say:

Select Business account - even though you're paying into your account, you're paying it to MBS first

Account Name use "Monmouthshire Building Society"

Sort code 40 05 30 - will show as HSBC

Account Number 14576608

Payment Reference - your MBS savings account number

flaneurs_lobster said:

Slinky said:

Sorry to ask, I'm a bit late to set up a new Monmouth account. I'm about to try to fund it, do I set it up as a Personal or Business account from my funding account please?

Personal.   

Standing Orders and Electronic Transfer
 
To set up a standing order or make a single electronic payment to your savings account, you will need to provide the following details to your bank:

Account Name: Your full name (the account holder)

Sort Code: 40-05-30

Account Number: 14576608

Reference: XXXXXXXXXX (Please make sure there are no spaces or hyphens - use the Monmouthshire Building Society account number you want to credit).

Contradictory advice here - not just whether to use "Business" or "Personal", but also whether to us your own name or "Monmouthshire Building Society" as the account name.

I think I'll stick MBS in as the payee, I've got loads of others in my payees with my name on, so at least this will stand out a bit if it works!

I always use - with all providers - a unique "name" in the payee name field of transfers to my own accounts. Format: My initials - bank/BS initials - last 4 digits of account number.

Predictably, this leads to CoP failure, so where I am unsure about my payee details, I first get the CoP check done with my actual name, and once confirmed, I go back and change the account name to my preferred nomencalture.

It is disappointing that in this day and age there are still current account providers that do not have the capacity for you to give a separate nickname to payees in addition to the account name.

I think it is the norm that there are no nickname fields. Only one or two providers have them, the vast majority don't. I would personally also not gain anything if I had a list of several dozens of payees, all with my name, in addition to the nickname which I can give those payees already (in the payee name field).

It would be nice to have but I reckon it would be way down the priority list of systems changes for most providers, and there are many other much more important improvements they can make. Dare I mention the ability to instantly close a current account or easy access savings account as just one example of more important improvements.........

Banks are starting to refuse to complete transactions where they check the name and it does not match 

Which banks are doing this? I use well over two dozen providers very regularly, and I make nearly a hundred payments to my own accounts every month. None of them has ever refused a transaction. The only one who keeps nagging me for every payment to one of my nicks is Starling but I can simply discard their warning. 

It may have been discussed in this thread, but there were a few banks where this was an issue, IIRC Natwest was one of them. People had to wait until they could get a CoP match before they could make a payment to their newly opened account. There was no option to ignore the warning and continue.

Starling allows you to choose a separate "Display name", so you could avoid that warning if you wanted.

Natwest (and RBS) is one of the accounts I use regularly, for their RS and other purposes. Never once had a payment declined by them (or others) because of my payee naming approach. I strongly suspect that any reports about refusals are from people who mistook warning messages as refusals of payments. I have certainly seen some of those on this forum.

OrangeBlueGreen

friolento said:

masonic said:

friolento said:

masonic said:

friolento said:

masonic said:

friolento said:

Slinky said:

clairec666 said:

mon3ysav3r said:

Slinky said:

Sorry to ask, I'm a bit late to set up a new Monmouth account. I'm about to try to fund it, do I set it up as a Personal or Business account from my funding account please?

Good timing I just received a letter from them with this info, their instructions say:

Select Business account - even though you're paying into your account, you're paying it to MBS first

Account Name use "Monmouthshire Building Society"

Sort code 40 05 30 - will show as HSBC

Account Number 14576608

Payment Reference - your MBS savings account number

flaneurs_lobster said:

Slinky said:

Sorry to ask, I'm a bit late to set up a new Monmouth account. I'm about to try to fund it, do I set it up as a Personal or Business account from my funding account please?

Personal.   

Standing Orders and Electronic Transfer
 
To set up a standing order or make a single electronic payment to your savings account, you will need to provide the following details to your bank:

Account Name: Your full name (the account holder)

Sort Code: 40-05-30

Account Number: 14576608

Reference: XXXXXXXXXX (Please make sure there are no spaces or hyphens - use the Monmouthshire Building Society account number you want to credit).

Contradictory advice here - not just whether to use "Business" or "Personal", but also whether to us your own name or "Monmouthshire Building Society" as the account name.

I think I'll stick MBS in as the payee, I've got loads of others in my payees with my name on, so at least this will stand out a bit if it works!

I always use - with all providers - a unique "name" in the payee name field of transfers to my own accounts. Format: My initials - bank/BS initials - last 4 digits of account number.

Predictably, this leads to CoP failure, so where I am unsure about my payee details, I first get the CoP check done with my actual name, and once confirmed, I go back and change the account name to my preferred nomencalture.

It is disappointing that in this day and age there are still current account providers that do not have the capacity for you to give a separate nickname to payees in addition to the account name.

I think it is the norm that there are no nickname fields. Only one or two providers have them, the vast majority don't. I would personally also not gain anything if I had a list of several dozens of payees, all with my name, in addition to the nickname which I can give those payees already (in the payee name field).

It would be nice to have but I reckon it would be way down the priority list of systems changes for most providers, and there are many other much more important improvements they can make. Dare I mention the ability to instantly close a current account or easy access savings account as just one example of more important improvements.........

Banks are starting to refuse to complete transactions where they check the name and it does not match 

Which banks are doing this? I use well over two dozen providers very regularly, and I make nearly a hundred payments to my own accounts every month. None of them has ever refused a transaction. The only one who keeps nagging me for every payment to one of my nicks is Starling but I can simply discard their warning. 

It may have been discussed in this thread, but there were a few banks where this was an issue, IIRC Natwest was one of them. People had to wait until they could get a CoP match before they could make a payment to their newly opened account. There was no option to ignore the warning and continue.

Starling allows you to choose a separate "Display name", so you could avoid that warning if you wanted.

Natwest (and RBS) is one of the accounts I use regularly, for their RS and other purposes. Never once had a payment declined by them (or others) because of my payee naming approach. I strongly suspect that any reports about refusals are from people who mistook warning messages as refusals of payments. I have certainly seen some of those on this forum.

Don’t know about NatWest but it’s only very lately (in the last couple of weeks or so) that I’ve noticed a couple of banks not allowing me to go past the screen if it says cannot confirm match (most likely due to setting up standing order as soon as savings account is open). The first time, I thought I must have made a mistake of some sort somewhere, did it again and same issue, could not get past the screen. Next day, once I’m guessing the new account was in the system, it all worked. So I do think some banks are getting stricter with not letting it go through.

steven141

Bridlington1 said:

allegro120 said:

s71hj said:

masonic said:

s71hj said:

masonic said:

friolento said:

Slinky said:

clairec666 said:

mon3ysav3r said:

Slinky said:

Sorry to ask, I'm a bit late to set up a new Monmouth account. I'm about to try to fund it, do I set it up as a Personal or Business account from my funding account please?

Good timing I just received a letter from them with this info, their instructions say:

Select Business account - even though you're paying into your account, you're paying it to MBS first

Account Name use "Monmouthshire Building Society"

Sort code 40 05 30 - will show as HSBC

Account Number 14576608

Payment Reference - your MBS savings account number

flaneurs_lobster said:

Slinky said:

Sorry to ask, I'm a bit late to set up a new Monmouth account. I'm about to try to fund it, do I set it up as a Personal or Business account from my funding account please?

Personal.   

Standing Orders and Electronic Transfer
 
To set up a standing order or make a single electronic payment to your savings account, you will need to provide the following details to your bank:

Account Name: Your full name (the account holder)

Sort Code: 40-05-30

Account Number: 14576608

Reference: XXXXXXXXXX (Please make sure there are no spaces or hyphens - use the Monmouthshire Building Society account number you want to credit).

Contradictory advice here - not just whether to use "Business" or "Personal", but also whether to us your own name or "Monmouthshire Building Society" as the account name.

I think I'll stick MBS in as the payee, I've got loads of others in my payees with my name on, so at least this will stand out a bit if it works!

I always use - with all providers - a unique "name" in the payee name field of transfers to my own accounts. Format: My initials - bank/BS initials - last 4 digits of account number.

Predictably, this leads to CoP failure, so where I am unsure about my payee details, I first get the CoP check done with my actual name, and once confirmed, I go back and change the account name to my preferred nomencalture.

It is disappointing that in this day and age there are still current account providers that do not have the capacity for you to give a separate nickname to payees in addition to the account name.

So are there only 2 bits that are relevant to making the money reach your account? I always assumed you had to do it all identical to instructions which is a pain when it comes to trying to identify what payments relate to

Sort code and account number are all that are needed for a direct transfer. For savings institutions that don't operate on that system, a reference is also required. Account name is only used for verification purposes (in the past this wasn't even checked and anything could be entered, but now the sending bank tends to treat a match as lower risk).

So account name is the one you can name in way that helps you identify what it is? I have probably 25 to 30 regular savers and am desperate to get into a system where it's easier to know what is what. 

I currently use FD, Chase and Cahoot for RS distribution.  FD allows nicknames, Chase allows changing the name after payee is set up, for Cahoot accounts I’ve made a list of mandate numbers so I know which is which.

I use a combination of FD, Cahoot, Co-op, NatWest Group, TSB, Santander, Nationwide.

Nationwide's a good one I've found as it'll let you set up multiple payees with the same sort code & account number with different references and give nicknames to each of the payees, so is useful if you've loads of regular savers with the same bank/building society (especially Principality in my experience). Using Nationwide has also had the added benefit of making me accidentally become eligible for fairer share payments. My only bugbear is that their statements don't show references.

FD allows nicknames but has a limitation in that if you set up multiple payees with the same sort code & account number but with different references it changes the reference of each of these payees to the most recently used (same with HSBC).

I've never used Chase so can't comment on it.

Nationwide recently updated the app at least to show references so it does now