Nationwide FlexDirect - "Pay in £1000/month"

ceredigion

What I was getting at innovate is if interest is calculated daily on say the Santander account and the balance for interest purposes is a snap shot taken at say 10pm . If you pulled all the money out, say nationwide at 9.30pm , put into Santander inflating the balance by 2500k , then put it back into nationwide say by 11pm ,just prior to them taking a snap shot of your account for interest purposes for that day. might have this completely wrong as don't really know how and when interest is calculated for any particular day.

innovate

That sounds like an extremely serious case of OCSD - obsessive compulsive savings disorder.

YorkshireBoy

innovate wrote: »

That sounds like OCSD - obsessive compulsive savings disorder.

Sounds like "double your money, and try to get rich" (if you go back that far?).

innovate

YorkshireBoy wrote: »

Sounds like "double your money, and try to get rich" (if you go back that far?).

Well, you would most definitely try in vain to get rich if your best idea was to shuffle £2.5K around manually every night.

I am very happy to chase the odd £60 or so a year if the only effort involved is setting up a couple of simple DDs and SOs, but there's a very definite limit to just how much time I would invest in chasing a few pennies.

matttye

It's 2013, we should be able to set up rules on transactions similar to email rules these days.

Eg. On receipt of money from <recipient> transfer to <account>
Or at 11pm transfer £x to <account>

Gromitt

I do remember a news story where a bank closed someone's account because they were transferring into the account on a Friday night and withdrawing those funds on Saturday morning, knowing the bank didn't account for the withdrawal until the next working day, typically Monday, so they got double interest over the weekend.

Vortigern

Stephen_C. wrote: »

Do you have any experience with requesting another account to earn 5% on more than £2500?

Nationwide will pay 5% on one sole account and one joint account.