How many days tokeep the money for faster paeyment FPI and FPO

adindas

In the past I have seen many people in this forum have done FPI from the dummy account and FPO back to origin account. People including me do that to meet requirement of minimum monthly funding to get the benefit of high interest rate or joining incentive.

The existence of FPI and FPO for most of current a/c (if not all current ac) in the UK make it asier to exploit this automatically using Standing order without anymore further manual intervention, so to save time for logon and then logoff.

The major trap that people like me try to avoid is that, the money has not arrived but the dummy account has already done the transfer. In this case we will be in red ...

To avoid this a reasonable number of days between the transfer into dummy ac and transfer back to origin account is needed.

How many days do you think is required. At the moment I have put about 4 days so say for instance FPI from the origin to dummny ac on day 1 each month, I set up transfer back on day 5 at the same month. But I will be interesting to see if I could reduce this ....

hermante

Why don't you just do it manually if you're so worried.


For this Easter, if your SO leaves account A on the 10th of the month, then the money would have had to arrive on the 5th by SO. Any SOs set for 6th,7th,8th,9th from account B would be sent on the 10th, so might be sent after the one from account A is meant to go.