Standing orders from savings accounts

scubanicki

Hi

I have some savings but need to use some to cover my maternity leave. I would like to put the money into a savings account that allows you to set up a standing order to transfer a regular amount into a current account to cover bills/mortgage etc. I have looked at a few and they don't seem to allow so's or dd's. Any ideas of how I can do this withough having the money in a current account that pays a rubbish interest rate?

Thanks

finder

scubanicki wrote: »

Hi

I have some savings but need to use some to cover my maternity leave. I would like to put the money into a savings account that allows you to set up a standing order to transfer a regular amount into a current account to cover bills/mortgage etc. I have looked at a few and they don't seem to allow so's or dd's. Any ideas of how I can do this withough having the money in a current account that pays a rubbish interest rate?

Thanks

Tesco's internet saver is the answer! I haven't managed to set up an SO as such but that's not really a problem as it will allow you to transfer any money out of it to any other bank account via faster payments (limit of £10K per day). It does allow you to introduce payments manually so that they get paid at a future date (and they go through as faster payments too). Very handy and it pays 2.60% variable for the first year.

They seem to be a bit slow to get the account up and running but it runs very smoothly!