Transfer times

carl310166

I am in the process of changing over to the A&L current account.

But i would still like to keep my three Barclays accounts that i use at the moment.

How long does it take for a standing order to move money from say the A&L account to the Barclays Account?

Most of our money will be paid into the A&L on the last day of the month,so we would like to be able to access cash from the Barclays account asap,will it take 3 days or so?

Also,what is the difference between a Direct Debit and a Standing Order?

MarkyMarkD

Yes, it'll take 3 days or so (3 working days, at that, so even longer over the weekend).

I would think very hard about using multiple accounts, like this, as you will always lose interest transferring funds between them and run a greater risk of being accidentally overdrawn on one account or other.

Direct Debit is initiated by the recipient of the funds (and is same day value); Standing Order is initiated by the person paying the funds (and takes 3 working days). If you are transferring money from your A&L account to your Barclays accounts, Standing Order is the method you will have to use with its inherent clearance delay.