Standing Order Clearing Times

Jakg

I've got some money shuffling around to satisfy pay-in offers for accounts such as the Halifax rewards account.

The account has a running £0 balance. I want to pay in the required amount and withdraw it again as quick as possible, but I want to automate this using a standing order rather than manually making faster payments.

How many days gap do I need to leave between paying in and retrieving the money?

grumbler

SOs are done by FP.
FP are pretty much instant in practice, but the deadline is the end of the next business day.

Even if you are getting 4% net interest on your savings, it's just 8p/day on £750.

Jakg

So the worst case scenario is Friday, miss Saturday, Sunday, bank holiday Monday and then clears on Tuesday - so 5 days.

Obviously avoiding the start / end of the month for Christmas etc.

Gizmo247

Remember due to the rescheduling of SOs that fall on Weekends and Bank holidays, SOs setup for consecutive days could be rescheduled for the same day. Setting them up 5 day apart should give the desired automated effect.