Account with instant clearing from Bank of Scotland

seengee

Hi,

I am in the process of moving house and my rent will need to be paid on the first day of the month. My wages leave the company bank account - Bank of Scotland - on the last working day of each month. I currently bank with HSBC and often its the 3rd or 4th before my wages clear. Am i right in saying that if i opened an account with Bank of Scotland or indeed any bank within the Lloyds group (Lloyds TSB/Halifax/Bank of Scotland/C&G) then the money would clear instantly? I believe the payment goes out via BACS if this has any influence.

Thanks.

Olipro

potentially it could, yes.

in reality however, HBOS will probably just hold onto the money, in which case you're doing them a favour since it'll be one less payment to submit to BACS