5% Savings Loophole

iris

I recently opened a Bank of Scotland current account with Vantage and I already have a Halifax current account. Others say that when they log on to their accounts they can see both accounts, but I can't. Anybody know why?

badger09

iris wrote: »

I recently opened a Bank of Scotland current account with Vantage and I already have a Halifax current account. Others say that when they log on to their accounts they can see both accounts, but I can't. Anybody know why?

How recently? Can you log into BoS yet?

Whether I log into BoS or Halifax (with different log in usernames - numbers:cool:) I can see all of my accounts with both of them.

I dimly remember someone saying ages ago that they had a similar issue which was sorted by a phone call, requesting the log in IDs to be 'linked' . Or maybe that was with a completely different bank:o

iris

badger09 wrote: »

How recently? Can you log into BoS yet?

Whether I log into BoS or Halifax (with different log in usernames - numbers:cool:) I can see all of my accounts with both of them.

I dimly remember someone saying ages ago that they had a similar issue which was sorted by a phone call, requesting the log in IDs to be 'linked' . Or maybe that was with a completely different bank:o

I opened the BofS account last week and was able to log on this week. My Halifax account was opened last year.


Will phone BofS as suggested.

caveman38

Just opened a joint 123 account but have forgotten whether interest is payable on deposits f0r the whole month or from when the 2 DD's are paid out. I am obviously speaking about the first month.

YorkshireBoy

caveman38 wrote: »

Just opened a joint 123 account but have forgotten whether interest is payable on deposits f0r the whole month or from when the 2 DD's are paid out. I am obviously speaking about the first month.

The DDs don't have to pay out, merely be set up.

Cougargb

You have also have to have paid the £500 in during your specific month, this varies from each customer and will show on your statement. Mine starts on the 26th of the month!

Clearly you don't get any cash back from the DD's until they are paid!

Steadyrolling

Is it just me or does the article's suggestion of how to shuffle money around to fulfil obligations seem a bit cumbersome? I've just opened three accounts, which I'll only be using to store the maximum possible allowance (DDs aside) - so rather than moving £500 or £1500 from my existing 'real' current account around all three new accounts over a period of two or three days, isn't it just easier to move £1500 from new account 1 to new account 2, £1500 from new account 2 to new account 3, and £1500 from new account three to new account 1 all on the same day? All accounts should then be always at maximum capacity.
Part of my reason for thinking this is I've also recently opened the First Direct Regular Savers account, and I've noticed that my next scheduled payment is due to leave my 'real' current account for First Direct current account two days late due to the usual pay date falling on a weekend. So I'm a bit worried that my First Direct current account could be overdrawn for a couple of days - and if this situation is repeated with moving money around from real account via three new savings accounts over a period of 2 or 3 days, it could result in fees that cancel out the interest?

Vortigern

Steadyrolling wrote: »

Is it just me or does the article's suggestion of how to shuffle money around to fulfil obligations seem a bit cumbersome?

Yes, it's cumbersome and totally unnecessary.

Same day transfers, as you suggest, are the best way to do it.

OldBeanz

I have read that it makes sense to make the payments on the first day of the month rather than towards the end as, for example, if Easter is at the end of a month then there could be 5 days when the banks are not paying SO's and you could break the terms of your account for that month.

Steadyrolling

Yes, that's what I was thinking. My payday is late in the month, so it doesn't make sense to move money from the main account and hope I can squeeze in all the transactions to current/savings accounts before the end of the month, esp in Feb. So 1st of each month, I will have a neat, virtuous circle of payments doing the round of my new accounts. Thanks!