B&B Internet Saver 2 - 6.40% AER - Confirmed

Geoffo_M

noh wrote: »

Yes it is a bit of extra work. But just for info you do not need a new DD the existing one carries on working with any new accounts you set up.

Nigel

That's strange. I've just tried to open the new account and it asked me for a nominated account. But when I had entered my sort code and bank account number, it said that this wasn't a valid sort code, even though it is exactly the same one as my existing DD. I tried 3 or 4 times with same result - so I gave up.

How can the existing DD work with the new account? Or do you now keep your old B&B account number?

Geoffo_M

Victors_Bruvver wrote: »

Can anyone tell me if B&B advised savers at the time of opening the 6.40% account that it was for a 'limited' period. I know I should, but I don't keep a note of these rates, or even when the BoE last reduced the rate. At least with ING I knew that the offer to old customers was for three months only, and they did have the grace to advise me in December that it was coming to an end on the 31st.

Just looked at all my welcoming literature, e-mails etc and there is no mention of this being for a 'limited' period

Beate

Geoffo_M wrote: »

That's strange. I've just tried to open the new account and it asked me for a nominated account. But when I had entered my sort code and bank account number, it said that this wasn't a valid sort code, even though it is exactly the same one as my existing DD. I tried 3 or 4 times with same result - so I gave up.

How can the existing DD work with the new account? Or do you now keep your old B&B account number?

I had the same happen to me. I phoned them up and they said for some reason that happens to a lot of people and not to worry, if you have an account with them already, they will just match the old nominated account to the new account. I opened the Internet Saver2 yesterday, it shows in my list of accounts already and I have checked - my nominated accounts are there. I actually have two, because long ago, when I opened my eISA with them, they allowed two, and they have followed me to every new application since.

Basically all you have to do is to click on "Continue without adding" and continue with the rest of the application.

noh

Geoffo_M wrote: »

That's strange. I've just tried to open the new account and it asked me for a nominated account. But when I had entered my sort code and bank account number, it said that this wasn't a valid sort code, even though it is exactly the same one as my existing DD. I tried 3 or 4 times with same result - so I gave up.

How can the existing DD work with the new account? Or do you now keep your old B&B account number?

The DD you have is not referenced to the account number. It looks like its a customer number so they can and do continue using the existing DD.
When I opened the Internet Saver(2) I indicated I would fund it with a cheque. As soon as the account appeared online I did a test transfer by DD all worked OK, the existing DD was used.

Nigel

Dean101

B&B launching new saving accounts at higher rates while simultaneously or soon after dropping rates on old ones is getting on my wick. I started with esavings then had to migrate to Internet Saver 1 and now am going to have to do the same again to Internet Saver 2. Here we go again - a pain in the ...!

BTW I got the email about the fall in rate on IS 1 today, 18 days or so after it actually did go down now that I've checked the website.

steveing64

How long does it normally take to show i have the saver 1 account opened a a new one on wednesday rec email confiming application etc but not showing when i log in yet should i call them or wait i said i would send a chq to open the account could this be why

Tigerite

I'd send them an email, they took over a week to add my eBond (Issue 20) as the funds to open it didn't clear in the Internet Saver 2 account until yesterday. Mind you, that was their fault too as it took them 6 working days (!) from when the funds appeared in the account until being "available".

I think they'd actually have forgotten about the eBond without my contacting them because it's magically appeared today, funny that, I wonder if it has anything to do with the A&L one being out now at 7% (which would have got my money if they hadn't sorted it)?

Beate

My Internet Saver 2 showed the day after I had applied for it. Funnily enough, I also got the email about the rate changes yesterday.

SilverScooby

I opened my Internet Saver 2 yesterday, it showed today when I logged in so I've input the transfer (which their system has dated Monday 21st)

Thanks Secret Wookie 2 for the tip, and to Paulipauli for the step-by-step instructions!

CannyJock

I already have an eSaver (issue 1) account and have just received an email telling me the rate has been cut by 0.15% because of the "recent" interest rate cut.

Just spoke to their CS and they've confirmed that this was because of the interest rate cut from 6.40% to 6.15% on 31/12/07 - the emails are "just late getting out".

I've already applied for an eSaver (issue 2) account and that's now ready. Last call to their CS advised me to applied for an issue 2, on the application form tell it I'll send a cheque for £1 - this allows them to open the account but I don't need to send the cheque (they confirmed this twice because I was a bit incredulous that they were being helpful enough to help me work their procedures). 48 hours after applying for the issue 2 you can switch your issue 1 into it.

Have just confirmed for sure that the interest rate email going out at the moment doesn't relate to the issue 2 that is still at 6.4% and I'm guessing will be until the next interest rate cut (I'll be a pint it'll be 0.25% in February).