Open a FD reg saving account questions

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roxy28
roxy28 Posts: 670 Forumite
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in Savings & investments
If i apply/open one on the 1st feb am i able to setup standing order straight away to feed the account?
Then make the standing order for the 1st each month.

Or does the account take a few days before it opens for deposits.
:T

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  • ColdIron
    ColdIron Posts: 9,052 Forumite
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    If you already have a First Account and there is money in it they can set it up and transfer the money straight away
  • roxy28
    roxy28 Posts: 670 Forumite
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    ColdIron wrote: »
    If you already have a First Account and there is money in it they can set it up and transfer the money straight away


    Ok thanks.

    Yes i have money in the first account.
    :T
  • ctdctd
    ctdctd Posts: 1,080 Forumite
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    The standing order has to come from the 1st current account on the same day each month as the account was opened.

    The amount can be varied if you want though.
    Do Money Saving sites make you buy more bargains - and spend more money?
  • EarthBoy
    EarthBoy Posts: 3,040 Forumite
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    You don't need to set up a standing order as FD do it for you automatically as part of the process of opening the Regular Saver account. As ctdctd says, the payments will always be made on the same day of the month as you open the account and they don't allow you to change this. However, if the regular monthly date is a weekend or a bank holiday, the payments will be made on the first subsequent working day.
  • roxy28
    roxy28 Posts: 670 Forumite
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    Ok thanks everyone all done now.
    :T
  • roxy28
    roxy28 Posts: 670 Forumite
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    EarthBoy wrote: »
    You don't need to set up a standing order as FD do it for you automatically as part of the process of opening the Regular Saver account. .

    The standing order not shown up yet, opened the reg saver on 1st feb, may take a few more days to show up, i will keep my eye on it.
    :T
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