Sainburys Saving Account Withdrawal limits

[BobbyBobBob]

I have a few Sainsburys saving accounts. On one of them it says you cant withdraw money from the account more than 3 times in a year, otherwise the higher rate of interest will go back to the normal lower rate of interest on the rest of the money.

What I would like to know is, is TRANSFERRING money from this account to another Sainsburys account classed as one of the 3 withdrawals a year you get, or does it have to actually be taken out into another separate bank, etc for it to count. ??

[squarebear]

Best check with them but yes, I would imagine a transfer is counted as a withdrawal, as you have withdrawn it from your account.

[ABerrant]

This is a definition from the T&C for the Sainsbury's Easy Saver account...

"A withdrawal - is made when we have taken all the necessary steps to carry out your instructions to pay money out of your account (for example, when we have transferred money from your account to your nominated account, at your request)."

http://www.sainsburys...ermsandconditions.pdf

[BobbyBobBob]

thanks folks