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Santander 123/TSB/Lloyds Club Month Deposit Question
scottlemoner
Posts: 3 Newbie
Hi there,
I have looked around the internet and the forum and I can't find the answer to this (I think my search skills aren't great)..
For all of the above accounts (Santander 123/Lloyds Club/TSB) you need to deposit x amount each month (£500/£1500/£500 or something).
Can you open one of these and just put in the say £500, then take it out, then put it back in the month after? To a DIFFERENT banks bank account (i.e. not another one at Santander).
OR does it have to be deposited and stay there?
I ask because if you have the highest amount you can in a 123 account to get the 3% interest, what would be the point in keeping anything extra.
Does transferring in and out like this work?
I have looked around the internet and the forum and I can't find the answer to this (I think my search skills aren't great)..
For all of the above accounts (Santander 123/Lloyds Club/TSB) you need to deposit x amount each month (£500/£1500/£500 or something).
Can you open one of these and just put in the say £500, then take it out, then put it back in the month after? To a DIFFERENT banks bank account (i.e. not another one at Santander).
OR does it have to be deposited and stay there?
I ask because if you have the highest amount you can in a 123 account to get the 3% interest, what would be the point in keeping anything extra.
Does transferring in and out like this work?
0
Comments
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Yes yes and yes.0
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scottlemoner wrote: »Hi there,
I have looked around the internet and the forum and I can't find the answer to this (I think my search skills aren't great)..
For all of the above accounts (Santander 123/Lloyds Club/TSB) you need to deposit x amount each month (£500/£1500/£500 or something).
Can you open one of these and just put in the say £500, then take it out, then put it back in the month after? To a DIFFERENT banks bank account (i.e. not another one at Santander).
OR does it have to be deposited and stay there?
I ask because if you have the highest amount you can in a 123 account to get the 3% interest, what would be the point in keeping anything extra.
Does transferring in and out like this work?
it does not need to be the following month , 30 seconds will do0 -
Thanks for your replies! :beer:ceredigion wrote: »it does not need to be the following month , 30 seconds will do
But it needs to go in £500 per month, so I would put it in, take it out, then put it in again the month after (well I wouldn't manually it'd be a standing order that did it).0 -
ok or
£20,000 - 500 + 500 = £20,000.0 -
ceredigion wrote: »ok or
£20,000 - 500 + 500 = £20,000.
ahh ok, i see what you are doing!0
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