re-123 a/c

anselld

typistretired wrote: »

Lloyds state:-

For each month that you meet the Vantage conditions, interest is calculated daily on the balance of your account at the relevant Vantage interest rate.

So as interest is calculated daily no need to move savings.

No, Hominu is correct.
If you withdraw on Saturday morning the balance is not updated until Monday morning so your money can be earning interest in two places at once for two nights. The t&c is still strictly speaking correct, it just fails to explain that balances are not updated over the weekend.

anselld

joe134 wrote: »

They obviously monitor A/cs then;;
I Think perhaps SO,s may be best way for several reasons ( FOR ME ). If Pc is Kaput, If away, if Ill, etc.Plus the time and memory factor. OP now
Had bother getting in Lloyds second time to test it,?MEM info???knocked me back several times,got it written down , I had just just done it;;;:mad:

Does funding in all A/cs have to be within each Calender month?
OR, no further than 31 days month apart?
EG;Can 1 be on 1st of month 2nd end of month? just curious as to how strict they are, and interest payments;
Are SO,s from all A/c,s to other A/cs( within) on the same day, 1st of each month for example, OK???
Any best set up way? Other than Y,s:-)
Just trying to find best way for me, suppose everyone has a preferred system.
Setting others today:)

SOs all on same day are fine so long as all accounts have funds.
Cycle is calendar month so most days fine but I would avoid anything after 25th in case of a bank holiday weekend at end Feb (is that even possible?) SOs get delayed on nonworking days.

joe134

typistretired wrote: »

You must have just been unlucky!! I set up 3 BOS accounts online on the same day (a weekend day) and all the paperwork arrived on the Tuesday.

Hi, Do you live in Scotland?
That was my problem, no branches south of the border, and you MUST have a branch selected online, to complete.
Just done 1 with TSB online, BUT, they send confirmation by post, so don,t know if accepted or not.
They are all different.
Certainly test ones patience;
Unlucky;;
I,m lucky to have bad luck:) I,m the eternal pessimist.

joe134

anselld wrote: »

SOs all on same day are fine so long as all accounts have funds.
Cycle is calendar month so most days fine but I would avoid anything after 25th in case of a bank holiday weekend at end Feb (is that even possible?) SOs get delayed on nonworking days.

Thanks anselld, It,s inevitable that in time, no matter when one sets them up, they will fall on a bank holiday at some stage as time goes by?
I,m trying to set them all for 1st of the month or there abouts. So I know where I am.I tend to set DD,s up then on all my bills etc, but, not always possible.
As the Derbys A/c ends 31st, all my funds have to be moved to Hsbc.(linked A/c) so will fund them then probably,including 123 A/cs, so DD,s are set up .Hsbc only allow £10k per day transfer, ( daft) so have to fund 2x 123 A/cs over 4 days.then others over a period of days.
Not straight forward is it;)

anselld

joe134 wrote: »

Thanks anselld, It,s inevitable that in time, no matter when one sets them up, they will fall on a bank holiday at some stage as time goes by?
I,m trying to set them all for 1st of the month or there abouts. So I know where I am.I tend to set DD,s up then on all my bills etc, but, not always possible.
As the Derbys A/c ends 31st, all my funds have to be moved to Hsbc.(linked A/c) so will fund them then probably,including 123 A/cs, so DD,s are set up .Hsbc only allow £10k per day transfer, ( daft) so have to fund 2x 123 A/cs over 4 days.then others over a period of days.
Not straight forward is it;)

Bank holiday is not a problem so long as it doesnt push the payment into the next month, eg SO on 28th falls on sat, 30 bank hol, 1st on tuesday.

SOs on 1st should be fine.

If HSBC is the same as FD, which it should be as they are the same bank, the 10k FP limit is per transaction not per day so you can do multiples on the same day to the same location.

Gromitt

anselld wrote: »

If HSBC is the same as FD, which it should be as they are the same bank, the 10k FP limit is per transaction not per day so you can do multiples on the same day to the same location.

Yes, that's correct. If your willing to wait until the next working day, you can also make a payment of upto £49,999.

Full list here: https://www1.firstdirect.com/1/2/ib/help/payment-limits

joe134

anselld wrote: »

Bank holiday is not a problem so long as it doesnt push the payment into the next month, eg SO on 28th falls on sat, 30 bank hol, 1st on tuesday.

SOs on 1st should be fine.

If HSBC is the same as FD, which it should be as they are the same bank, the 10k FP limit is per transaction not per day so you can do multiples on the same day to the same location.

I,ve never been allowed to do any more than £10k transaction to any 1 a/c .It,s annoyed me on several occasions.
If I want to put £20k into 1 of the 123 A/c,s I will have to do it over 2 days £10k per day
.I,ve just put £40k into a12 month fixed rate bond with PO, and had to do it by DD, so they could take it all out in 1 transaction;;That annoyed me, because it was sitting in Hsbc for quite a while until PO took it out, getting NO interest
I .Didn,t want 4x £10k bonds, and 4 applications..

anselld

joe134 wrote: »

I,ve never been allowed to do any more than £10k transaction to any 1 a/c .It,s annoyed me on several occasions.
If I want to put £20k into 1 of the 123 A/c,s I will have to do it over 2 days £10k per day
.I,ve just put £40k into a12 month fixed rate bond with PO, and had to do it by DD, so they could take it all out in 1 transaction;;That annoyed me, because it was sitting in Hsbc for quite a while until PO took it out, getting NO interest
I .Didn,t want 4x £10k bonds, and 4 applications..

That is strange. First Direct definitely allow multiple £10k though even that I find annoying sometimes when others have £25k or even £100k limit.

joe134

anselld wrote: »

That is strange. First Direct definitely allow multiple £10k though even that I find annoying sometimes when others have £25k or even £100k limit.

I Actually was thinking of switching to FD only or Santander a week ago, whilst in the process of doing these other A/c,s, as I,ve been with Hsbc for over 55 years, but, if I moved my Join hsbc to Joint 123, it would have stopped me getting 2 x123 A/c,s in wifes name only, as I have done, and FD, is online only and the £10pcm , put me off, ;;
I have a Hsbc branch 10 minutes walk, and Santander/.Halifax;;
The £10k limit is a pain.You would have though FD being Hsbc,s online banking Sister A/c they would be the same, alas not:(
NOT in small print that I ever noticed either;;;
My son is also in Hsbc a ,long time customer, he had same trouble a few months back, funding his new 123 A/c in one go, over £10K;
Not the best banks, in Premier A/c, but, old habits die hard, hence all these other A/cs;
Just read a few bad ( unusual) reports of FD not getting the 7 day rule right, and having to compensate people £25 ;;
They admitted it was overload of switching.

claire07

To go back to the BoS setting up. I've just set up 3 online and also had the problem initially where it wouldn't let me go past inputting my postcode and finding a local branch.

So I phoned up and explained and was given a Scottish postcode and told to use that. It then let me open them online and they are now showing on my Halifax list of accounts.