Basically..

KiKi

Hi Tom

You need to go to your own bank, or phone them, and ask to set up a Standing Order to your sister's bank. You will need her account number, and her sort code.

They will ask you for the details like:
Her name
Her account number
Her sort code
When you want the money to first be paid (eg, November)
Which date of every month do you want the money to go to her
How many payments do you want to go out (eg 48 - 4 years of 12 payments a year), or when do you want the last payment to go out
What do you want to call the payment (eg, "Sister's Loan")

They will set it up for you (or you can do it yourself online if you have internet banking).

A Standing Order cannot be set up by the person receiving it, only the person paying it. You can cancel the Standing Order at any time (although I'm sure you won't do this until your sister's paid!), and when the last payment has been made, it's best to call your bank and just check that the SO has been stopped.

I hope this helps you.
KiKi

Bob_the_Saver

A few days ago you only wanted to borrow £2k

"What about if I was to ask to borrow £2000?" why is it £4k now?

Out of interest, how old are you?

tom_smith_2

becuase I couldnt get a loan for £4000

I am 18

Bob_the_Saver

Still doesn't work, What is this money for? A car? A Motorbike?

£300 a month coming in, if you were to pay your sister £110 per month (your figure) and you spend £40 per month on your phone that leaves around £34 per week to live on. You won't be getting a full time job for at least two years you say and the way things are going in the UK probably a lot longer than that. If the £300 a month is from a part-time job what happens if you lose it?

tom_smith_2

Still doesnt work? how you work that out?

My sis pays the bank £100 back a month.. I pay her back £110

Thats the loan sorted.. right?

I dont plan to loose my job... lets say I have that job untill I have a full time job.

I can live off £35 a week. lol

davetrousers

tom_smith wrote: »

I dont plan to loose my job... lets say I have that job untill I have a full time job.

Nobody plans to lose a job. !!!!!! happens sometimes!

Is your sister aware of your plan?

davetrousers

tom_smith wrote: »

Natwest looks the best

£96.55 a month over 5yrs £4,000 16.8% = £5,793.00

And then add on to that figure the £10 a month the OP will pay their sister = £6,393 :eek:

worried_jim

Bob_the_Saver wrote: »

With those figures I'd go straight to Coutts.

:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

Bob_the_Saver

What is this money for? A car? A Motorbike? or won't you tell us?

tom_smith_2

Bob_the_Saver wrote: »

What is this money for? A car? A Motorbike? or won't you tell us?

1. car

2. books for school

3. 2 years bus pass