When should I move my cash?

gelato_cat

Hi all

I'm pleased about the interest rate rise as I have no debts and some money in the bank!

I opened an Icesave account on Sunday and have all the relevant documentation now so am ready to transfer my cash. I've £27k in an HBOS 5.25% account - I'll leave £5k in there for the time being to keep it open and move the rest to Icesave.

When should I do it though - to save the most interest in transit? I spose it's a toss up between losing interest in transit and losing interest in the less attractive account until Monday...

Any ideas?

Suze

ReportInvestor

Move it on Monday .

It's not rocket science.

gelato_cat

It's not, but I just needed to make sure. Thanks for making me feel like I managed to do the impossible by asking a stupid question :rolleyes:

Suze

ReportInvestor wrote:

Move it on Monday .

It's not rocket science.

ReportInvestor

Sorry I made you feel like that . I did think from your original post that you'd worked it out yourself already.

gelato_cat

I honestly wasn't sure. I hadn't even thought about things like that until recently when I saw people posting metrics on here showing how much interest they were losing by moving money on different days of the week!!! I have a long commute and like to think about financial stuff at the weekends when I can take my time over it - and only now am I realising that I was losing interest by shifting money about any later in the week than Thursday :eek:

Anyway, thanks for confirming it for me. Icesave all set up now, so looking forward to funding it

cheers! :beer:

Suze

ReportInvestor wrote:

Sorry I made you feel like that . I did think from your original post that you'd worked it out yourself already.