Yorkshire BS regular saver withdrawal

Dagobert

I have a Yorkshire BS Regular Saver and Internet Saver. I would like to make a one-off withdrawal from regular saver to internet saver.

I was told on the phone that I can initiate the transfer online but that it will take several days until the instruction is executed.

Is this correct? Has anyone tried this before?

I need the funds next week but don't want them to sit in the internet saver longer than necessary.

oldfella

did it recently - transfer to the Internet saver is visible next day and can be moved on to wherever. A transfer out of the Internet saver on a Monday arrives on a Thursday.

Dagobert

oldfella wrote: »

transfer to the Internet saver is visible next day

You mean it is done on the day of the request but statement is updated on the following day?

I wonder what happens if you do the internal transfer on a Saturday.

Speculator

Can't you do the transfer direct from your Regular Saver?

Speculator

Sorry, ignore me, just realised that you can't transfer to an external a/c from the regular saver.

Speculator

Just to add, make sure you do the transfer from your internet saver from 12 midnight to 12.05am and by Tuesday at the latest. I think Yorkshire process transfers around 12.07am.

oldfella

You mean it is done on the day of the request but statement is updated on the following day?

---

they say it is available for interest immediately, but you cant see it in the Internet saver - I havent tried a transfer the same day from the Internet saver - my bet is it would get rejected - I suspect they do a batch update overnight.

YorkshireBoy

Dagobert wrote: »

I wonder what happens if you do the internal transfer on a Saturday.

YBS process 7 days a week. You'd see the result of your transfer in the early hours of Sunday morning.

As Speculator says, you need to get the request on just after midnight (you have a 10-20 minute window from memory) to both catch that day's BACS run, and ensure you get the previous day's interest!!

Might see some improvements once FP's become more common place, but remember they use a NatWest collection account (which I think is responsible for an extra day delay) so who knows!

Nick_C

You can send payments out from YBS Regular Saver to an external account - did it on Monday.

(I think YBS will come to regret cutting rates on the RS. They must be haemorraghing funds. See they are offering 7% fixed now - sorry, too late. I've moved 9K out in the last month!)

Milarky

Nick_C wrote: »

You can send payments out from YBS Regular Saver to an external account - did it on Monday.

Yes I can confirm that appears to be the case. You have the option online to make a generalised transfer to a non YBS account.

(Now does any of that '1st class' yet, or will it be BACS?)

RayWolfe

It will be BACS and it will take four days to reach the external account.