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Sweeping between Nat west accounts

Hi,

I've not seen it advertised but is it possible to set up between accounts

a monthly sweep.

What I mean by that is take the balance on a given date each month
and transfer it to another account.

On an automated basis

I'd like to sweep my CURRENT PLUS account and transfer to my E-SAVINGS account both with nat west
«1

Comments

  • stclair
    stclair Posts: 6,855 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Im sorry to say no such facility exsists at present, the only way forward would be to do it yourself by S/O for a set amount each month.
    Im an ex employee RBS Group
    However Any Opinion Given On MSE Is Strictly My Own
  • agrinnall
    agrinnall Posts: 23,344 Forumite
    10,000 Posts Combo Breaker
    edited 1 May 2011 at 6:31PM
    It certainly wasn't possible for personal accounts when I worked at RBSG, although it could be done for certain business customers. That was 3 years ago but I would doubt if it's changed since then. [confirmed by stclair while I was posting]
  • chambta
    chambta Posts: 2,770 Forumite
    Part of the Furniture Combo Breaker
    agrinnall wrote: »
    It certainly wasn't possible for personal accounts when I worked at RBSG, although it could be done for certain business customers. That was 3 years ago but I would doubt if it's changed since then. [confirmed by stclair while I was posting]

    It can be done quite easily but the accounts have to be at the same sort code which probably rules out the e-saver possibility.
  • davep123
    davep123 Posts: 64 Forumite
    How chambta ?, if its possible I'd like to try it
  • chambta
    chambta Posts: 2,770 Forumite
    Part of the Furniture Combo Breaker
    davep123 wrote: »
    How chambta ?, if its possible I'd like to try it

    Are the two accounts under the same sort code? If so the branch can fill in a form that gets sent off to a central department.
  • pmduk
    pmduk Posts: 10,704 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Surely it's easier to do it manually, that way you can allow for any payments yet to be processed?
  • davep123
    davep123 Posts: 64 Forumite
    sort codes are different 5 0 - 4 2 - 3 7 & 5 1 - 6 1 - 1 1 PMduk, I see your point, but would prefer an automated sweep. As I wont have many payments to process from the source account to sweep from.
  • stclair
    stclair Posts: 6,855 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    chambta wrote: »
    Are the two accounts under the same sort code? If so the branch can fill in a form that gets sent off to a central department.

    E Savings accounts are normally set up on sort code 50 - 42 - 37 which is Leeds Retail CSC.
    Im an ex employee RBS Group
    However Any Opinion Given On MSE Is Strictly My Own
  • davep123
    davep123 Posts: 64 Forumite
    As is the case with my E savings account. So if I cant sweep to that account, are there branch savings accounts I can open at a branch that I could sweep to ??
  • chambta
    chambta Posts: 2,770 Forumite
    Part of the Furniture Combo Breaker
    davep123 wrote: »
    As is the case with my E savings account. So if I cant sweep to that account, are there branch savings accounts I can open at a branch that I could sweep to ??

    Yes. Though the interest you would receive wouldn't make it worth the hassle.
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