Saffron Online Bonus Saver - payments

Yellowman

I understand that a Saffron BS Online Bonus Saver processes payments in and out on the same day if made before 4.00pm on a working day.

How long do in and out payments take?

charlieboycat

Payment in showed up online within a couple of hours. Payment out (requested in morning) arrived at 4:37pm.

Yellowman

Thank you.

Are Saturdays and Sundays included?

charlieboycat

Have you tried looking at their Savings T&Cs? Or even the FAQs on the website? As you said in your original post, their cut-off is 8pm on "working days". Applies to payments both in and out. So "no".

Yellowman

4pm.

I couldn't see anything readily on the faqs.

charlieboycat

My mistake, sorry - It's 8:00pm for payments in but, as you correctly say, 4:00pm for payments out. In both cases working days only - which excludes both Saturdays and Sundays. All clearly set out on their FAQ page [ https://www.saffronbs.co.uk/FAQs_Payments ]

I have made a payment in, when will it arrive in my account?

Payments in arrive on working days - any day which is not a Saturday, Sunday or a bank holiday in England and Wales.

Cut-off times apply for receipt of an electronic payment such as a Faster Payment, CHAPS or BACS payment. These are as follows:

• The cut-off time for Faster Payments is 8pm on a working day.
• The cut-off times for CHAPS payments is 5pm on a working day.
• A payment that is sent to you by Standing Order or through the BACS system can take up to three working days to reach your account.

I requested my payment to be sent ASAP, when will it be sent?

£100,000 or less:
Payments of £100,000 or less will be sent via Faster Payment.

If the payment is requested before 4pm, it will be sent the same working day.

If the payment is requested after 4pm, it will be sent on the next working day.

Over £100,000:
Payments that exceed £100,000 or where the receiving bank does not accept Faster Payment, will be sent via BACS payment.

If the payment is requested before 3.30pm, it will be sent the same working day.

If the payment is requested after 3.30pm, it will be sent on the next working day.

Funds that are sent by BACS should be received in the destination account within three working days, after they are sent.