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Moving money between savings accounts
gogsboy
Posts: 527 Forumite
How does it work if you are to move money from one savings account to another, ie 30k from a Nationwide e savings on yearly interest to an iceland one with monthy interest.
Is the e savings interest still paid but just based on the short time the money was there or is it best to wait till April or whenever they pay up.
Is the e savings interest still paid but just based on the short time the money was there or is it best to wait till April or whenever they pay up.
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Comments
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Sorry, May have jumped into the wrong thread here. Can anyone tell me if Halifax in the Uk is the same as HBOS..0
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Lloyds own HBOS, HBOS own Halifax. However FCS means that HBOS and Lloyds are staying seperate.0
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The easier way would be transfer the funds into your current account then draw a cheque to pay into iceland account.How does it work if you are to move money from one savings account to another, ie 30k from a Nationwide e savings on yearly interest to an iceland one with monthy interest.
On yearly interest, interest will pay out on anniversary date or upon account closing. You should not lose any interest no matter what, unless your saving account was not instantly accessible.Is the e savings interest still paid but just based on the short time the money was there or is it best to wait till April or whenever they pay up.
Vodafone sucks. :mad:0 -
Thanks for the reply, the account wouldnt be closed, would be some money left in but would you be paid some decent interest for the 30k that has been in the account for half of the year0
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Think you missed the ? at the end...Thanks for the reply, the account wouldnt be closed, would be some money left in but would you be paid some decent interest for the 30k that has been in the account for half of the year
Yes, you would be paid the interest rate(decent is another question;)) calcuated on a daily basis of what was in it on that day...So for instance, if you keep it in it for 6 months you'll earn exactly half the amount as if you kept it there for the whole year..0 -
Yeh but lets be honest, what else is gunna happen?
But still, they're still protected by £35k0
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