Potential cross-firing with Halifax current a/c

Milarky

I spotted this last month - and now the same this month. When I paid cheques into my Halifax High Interest Account I assumed interest was only going to be paid on these after two (banking) days. In fact during August, September and October the interest paid was more than expected.

It appears that Halifax in fact pay interest on cheques from the next working day (not the one following, as per the '2-4-6' rules) Something else which appears strange is they give on their mini-statements 'available' dates a day earlier too.

So, without realising it, I have cross fired a few cheques (which you might do in order to meet the funding rules on two separate current accounts, for instance) which, in two cases, started earning interest on Friday, but did not stop earning interest in the other account until Monday!.

GOVT WEALTH WARNING - cross firing is deemed anti-social activity by some banking organisations and can result in the loss of banking facilities and/or damage your credit worthiness

Mikeyorks

Milarky wrote: »

It appears that Halifax in fact pay interest on cheques from the next working day (not the one following, as per the '2-4-6' rules) Something else which appears strange is they give on their mini-statements 'available' dates a day earlier too.

For all aspects of 2-4-6, on Current accounts, they consider Day 1 (prior 1700hrs - in Branch) to be the day of deposit :

http://www.halifax.co.uk/bankaccounts/Receivingandsendingmoney.asp