Problem with transfer to Skipton

hpas251

I transferred money from my Nationwide current account to my Skipton regular saver at 10 minutes past midnight on Friday morning (1st August). This had neither been credited nor bounced back to my current account by Saturday morning. I used the webchat function to query this and the advisor said there had been a problem and the money would be returned to my current account within 1 to 3 working days. Looking back at old threads on here there seems to be a problem with credits made to Skipton regular savers in the early hours of the 1st of the month where it is not recognised as being a new month. Has anyone else had this problem? Regular savers with other institutions seem to have no problem with credits made just after midnight on the 1st of the month.

surreysaver

Don't transfer money so early on the first day of the month. A lot of banks/building societies don't switch over to the following day until well after midnight, some at 2 or 3 in the morning.
When depositing to Skipton, try at 8 or 9 in the morning following the beginning of the new month.
I reckon your money should bounce back tomorrow, bearing in mind it's currently the weekend so your money is probably ended up in a suspense account at the end of Friday, and nothing happens over the weekend 

WOTSWOT

surreysaver said:

Don't transfer money so early on the first day of the month. A lot of banks/building societies don't switch over to the following day until well after midnight, some at 2 or 3 in the morning.
When depositing to Skipton, try at 8 or 9 in the morning following the beginning of the new month.
I reckon your money should bounce back tomorrow, bearing in mind it's currently the weekend so your money is probably ended up in a suspense account at the end of Friday, and nothing happens over the weekend 

I am very wary of placing any deposits on a Friday, unless I am very confident they will be received in time to start earning interest. If I have a large deposit I push it into Marcus as they always receive it minutes after I send from HSBC. This way I can be sure of getting the weekend interest. The withdrawal from Marcus is equally fast but as you have to phone for over 20K withdrawal you might need to split it over a few days.
Still waiting for my new Cahoot simple login details to see if I can do the same there, but at a better rate,. I note their 7 day promise has also been a problem for others !

badger09

hpas251 said:

I transferred money from my Nationwide current account to my Skipton regular saver at 10 minutes past midnight on Friday morning (1st August). This had neither been credited nor bounced back to my current account by Saturday morning. I used the webchat function to query this and the advisor said there had been a problem and the money would be returned to my current account within 1 to 3 working days. Looking back at old threads on here there seems to be a problem with credits made to Skipton regular savers in the early hours of the 1st of the month where it is not recognised as being a new month. Has anyone else had this problem? Regular savers with other institutions seem to have no problem with credits made just after midnight on the 1st of the month.

There was quite a lot of discussion about this on Regular Savers thread from about page 435 onwards. Several posters experienced it.  

hpas251

surreysaver said:

Don't transfer money so early on the first day of the month. A lot of banks/building societies don't switch over to the following day until well after midnight, some at 2 or 3 in the morning.
When depositing to Skipton, try at 8 or 9 in the morning following the beginning of the new month.
I reckon your money should bounce back tomorrow, bearing in mind it's currently the weekend so your money is probably ended up in a suspense account at the end of Friday, and nothing happens over the weekend 

They did say up to 3 working days. I live in Edinburgh and tomorrow is technically a Bank Holiday in Scotland (although not many businesses actually close: banks and building societies take the English and Welsh holiday at the end of the month, other businesses take local holidays such as the third Monday of July in Glasgow and the third Monday of September in Edinburgh). If counting tomorrow as a BH, then that gives them until close of business on Thursday to bounce back the money.

badger09 said:

hpas251 said:

I transferred money from my Nationwide current account to my Skipton regular saver at 10 minutes past midnight on Friday morning (1st August). This had neither been credited nor bounced back to my current account by Saturday morning. I used the webchat function to query this and the advisor said there had been a problem and the money would be returned to my current account within 1 to 3 working days. Looking back at old threads on here there seems to be a problem with credits made to Skipton regular savers in the early hours of the 1st of the month where it is not recognised as being a new month. Has anyone else had this problem? Regular savers with other institutions seem to have no problem with credits made just after midnight on the 1st of the month.

There was quite a lot of discussion about this on Regular Savers thread from about page 435 onwards. Several posters experienced it.  

That would be where I saw it. Knew I'd seen it somewhere.