Welcome Landsbanki!

vulcan59

Happy_Shrimper wrote:

Hi,
Can anyone tell me if the online facitilities for this account allow you to set up regular automated withdrawals to your linked account or is it a manual process only?

Yes, you can set up weekly, monthly or annual regular transfers.

webwiz

Graham_M wrote:

I want to move from First Direct as they wipe out a months interest every time I make a transaction, thus reducing the REAL interest by a 1/12 each time, robbers!!!

It's not that bad! You will not get any interest in the calendar month in which you make a withdrawal, so always make withdrawals on the first banking day in the month and you will not lose any interest unless the 1st is a non banking day.

masonic

webwiz wrote:

It's not that bad! You will not get any interest in the calendar month in which you make a withdrawal, so always make withdrawals on the first banking day in the month and you will not lose any interest unless the 1st is a non banking day.

So if you have a balance of £10,000 and you withdraw £100 on the 1st of the month you will not lose any interest?

Daniel_B

webwiz wrote:

It's not that bad! You will not get any interest in the calendar month in which you make a withdrawal, so always make withdrawals on the first banking day in the month and you will not lose any interest unless the 1st is a non banking day.

Hi there,
is this from personal experience??

It just sounds a little too easy to circumvent, as in if you are making a withdrawal on the first banking day of April for example, that is the calendar month of April, therfore surely you will not gain any interest for the remainder of the month??

Dan

webwiz

Dan I can confirm from personal experience that withdrawing on the first works fine. I have done it several times. But masonic makes a good point which I forgot to mention. You must withdraw the full amount even if you only need part of it and stash the remainder in another instant access account. This is a pain I admit.