Regular savers requiring deposits from one account only

nottsphil

Buckinghamshire BS

Ecology *

Ford Money *

Gatehouse

Manchester BS

Monument

*also allows internal transfers

(ESBS removed as it's only the initial payment that has to come from the nominated account)

nottsphil

I've had deposits returned from two providers who (rather oddly) insist on all subscriptions coming from the same account. Now that I've been accepted by Teachers BS, the number of these oddities I have is growing. I thought this might be a useful thread for those whose memory isn't quite what it was, so I invite people to name those providers with this restriction and I will update the list on the opening post accordingly.

mon3ysav3r

Also: Manchester BS (A brand of Newcastle BS)

flaneurs_lobster

Does First Direct's RS count?

kermchem

Note that Newcastle BS offer an outsourcing service for some other financial institutions , not just Manchester BS which they own. These might have the same software issues.

bristolleedsfan

https://forums.moneysavingexpert.com/discussion/comment/82020294#Comment_82020294

1. "The electronic ID checks were done against a specific account and they won't accept payments from other accounts - even if you try to change them"

I have never come across a nominated account that cannot be changed. certainly Manchester/Newcastle BS send a code to postal address which has to be entered within logged into account for nominated account to be changed.

allegro120

https://forums.moneysavingexpert.com/discussion/6670803/regular-savers-requiring-deposits-from-one-account-only

I funded one of my Loughborough RS from 3 different accounts.

nottsphil

https://forums.moneysavingexpert.com/discussion/comment/82020351#Comment_82020351

Thanks! That prompted me to go back and see why mine was returned, and I now realise it was because it was either a 13th payment or one which took the balance over £12000 (probably both reasons). It was just a coincidence that I needed to change the donor account for that particular payment.

allegro120

https://forums.moneysavingexpert.com/discussion/comment/82020528#Comment_82020528

I know Manchester accepts deposits from nominated account only, but I think Newcastle doesn't have the same rule. I'm not sure about Teachers, I only have ISA transfer experience with them. Deposits from nominated account only is quite rare for RS products.

allegro120

https://forums.moneysavingexpert.com/discussion/comment/82020656#Comment_82020656

This is not uncommon, Lloyds Banking Group's rules and products do vary from one brand to another for example. I'm not 100% sure about Newcastle. I've never fed a single Newcastle account from different sources, but have made deposits from different banks to various Newcastle accounts. Also I didn't see this restriction in their t&c.

ForumUser7

https://forums.moneysavingexpert.com/discussion/comment/82020306#Comment_82020306

e.g. Gatehouse who have a similar restriction

It kind of frustrates me, as I generally try to keep inbound to one account, and outbound from another.