Yorkshire BS regular saver withdrawal

Dagobert

YorkshireBoy wrote:

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!!

Could you pass this by me again:

If I initiate a BACS transfer from the Internet Saver on Monday at 0:10, when will it leave the account and when will it arrive?


As for the internal transfer r/s -> s/a, will I see the money in the s/a on Sunday if I make the transfer on Saturday?

YorkshireBoy

Dagobert wrote: »

If I initiate a BACS transfer from the Internet Saver on Monday at 0:10, when will it leave the account...

2-3 hours later when the processing is complete. YBS only release your money into the BACS system immediately following an overnight processing run. Do your transfer request at 04:00 Monday and the funds won't be released until Tuesday morning.

...and when will it arrive

Thursday.

As for the internal transfer r/s -> s/a, will I see the money in the s/a on Sunday if I make the transfer on Saturday?

Same answer as I gave earlier...

"You'd see the result of your transfer in the early hours of Sunday morning"

...ie, as soon as Saturday night/Sunday morning processing is complete and you can log in again.

Speculator

I normally log in to YBS online to make my transfer at around 11.55pm.

Next to my computer, I have my Jumbo Oregon Radio controlled clock and at precisely 12.00:01s, I hit the confirm button to make my transfer.

Dagobert

Dagobert wrote:

If I initiate a BACS transfer from the Internet Saver on Monday at 0:10, when will it leave the account...

YorkshireBoy wrote: »

2-3 hours later when the processing is complete. YBS only release your money into the BACS system immediately following an overnight processing run. Do your transfer request at 04:00 Monday and the funds won't be released until Tuesday morning.

Dagobert wrote:

...and when will it arrive

YorkshireBoy wrote: »

Thursday.

Are you saying a payment initiated on Monday 0:01 will arrive on Thursday? If so, this is no different from a payment initiated during the day on Monday. I made a £1 test payment on Friday 11th Jan which arrived 3 working days later on Wednesday 16th.

YorkshireBoy

Dagobert wrote: »

Are you saying a payment initiated on Monday 0:01 will arrive on Thursday? If so, this is no different from a payment initiated during the day on Monday.

I can only comment on my own experience Dagobert. Whether you choose to take a different stance is entirely your prerogative.

I made a £1 test payment on Friday 11th Jan which arrived 3 working days later on Thursday 16th.

If the normal 'action Mon/arrive Wed' BACS transfer is classed as a 3-day cycle, isn't what you've written above in fact a 5-day cycle?


EDIT: The following Thursday would be the 17th, not the 16th.

Dagobert

Sorry, I made a mistake: the payment arrived on Wednesday 16th. That is a 4-day cycle if you include the day payment was made. That would the equivalent of a Monday payment arriving on Thursday.

Dagobert wrote:

If so, this is no different from a payment initiated during the day on Monday.

What I referred to is above test payment, which also arrived 3 days later.

If I understand you correctly, you are saying a payment initiated during the day on Monday will not leave the account until Tuesday and therefore arrive on Friday?

Speculator

I initiated a transfer on Mon 28th April 12.01am. The money reached my Nationwide Flex account on Thursday 1st of May.

My understanding was that, if you initiated the payment say 2am on a Monday, it will be processed on Tuesday arriving at the destination a/c on a Friday.

However, Dagoberts test transfer seems to indicate that ybs process transfers during the day as well.

YorkshireBoy

Dagobert wrote: »

If I understand you correctly, you are saying a payment initiated during the day on Monday will not leave the account until Tuesday and therefore arrive on Friday?

Copy/paste from my MS Money package transaction memos (all YBS=>YB transfers)...


XXXX final payment cover (1 of 2) Actioned at 12:05 on Mon 18/6/07. Arrived Fri 22/6/07

Actioned Mon 26/11/07 @ 00:05. Cleared on Thurs 29/11/07

Actioned at 21:10 on Mon 7/1/08. Cleared on Fri 11/01/08

Dagobert

Speculator wrote: »

My understanding was that, if you initiated the payment say 2am on a Monday, it will be processed on Tuesday arriving at the destination a/c on a Friday.

Unfortunately, I only have one test payment to go by. I just checked the dates again:

I initiated the transfer on Friday 11th Jan at 10:52*. It was debited to the Yorkshire internet saver account and arrived 3 working days llater on Wednesday in my Bank of Scotland account.

According to my notes, their cut-off time is 17:00. At least this is what I was told by the YBS.

Speculator wrote:

Next to my computer, I have my Jumbo Oregon Radio controlled clock and at precisely 12.00:01s, I hit the confirm button to make my transfer.

My PC synchronizes with two stratum level 2 time servers.

I just did a test transfer at 00:01. I will do another one during the day.


* 24hr clock

YorkshireBoy

Dagobert,

I wonder if they've 'lost' a day since my 'during banking hours' transfer request made in June 2007?