Kaupthing Savings Account

gsm

I looked at the Terms & Conditions and they appear to charge £20 for a withdrawal to the linked account. Not such a great deal?

isofa

gsm wrote: »

I looked at the Terms & Conditions and they appear to charge £20 for a withdrawal to the linked account. Not such a great deal?

That is only for a specialist and fast CHAPS transfer, rather than standard BACS, most companies charge for a CHAPS transfer.

It is free to transfer in and out via BACS, which is the normal procedure, I quote from their T+Cs, the bold is mine.

7.6 Fees and Tariffs
7.6.1 Subject to clause 7.6.2, the operation of the Account is free of charge.
7.6.2 The following requests or transactions will incur the fees/tariffs specified below:
Description Fee/Tariff
CHAPS withdrawal from Savings Account to the Linked Account £20 per transaction
Cheque from Linked Account returned unpaid £17.50 per cheque
BACS transfer from Linked Account returned unpaid £15 per transaction
"Data subject access request" in accordance with 8.3.2 £10 per request
If the Account balance falls below zero £20 per each consecutive 30 day period
or part thereof that the Account balance is below zero Additional paper copy statement provided £5 per statement

Greycrow

gsm wrote: »

I looked at the Terms & Conditions and they appear to charge £20 for a withdrawal to the linked account. Not such a great deal?

You nearly gave me a heart attack.
I don't know any bank that doesn't charge for CHAPS withdrawals.

Sol00

What is CHAPS withdrawals?

[Deleted User]

Google CHAPs, 2nd link down -> http://www.apacs.org.uk/payment_options/chaps.html