So confused, help?

Archi_Bald

Yes you would be fine doing that. Although -

1. some accounts don't operate on a calendar month basis - you need to check the T&Cs
2. leaving any money in an account that pays no interest seems a waste
3. in accounts that do pay interest, keeping as close as possible to the upper limit on which interest is paid is desirable

UKIkarus wrote: »

trying to grasp how this all works and what is considered OK.

everything that is not prohibited by the relevant T&Cs is considered OK. Do not rely on what strangers on internet forums (incl myself) say is ok as your contract isn't with them.

Eco_Miser

UKIkarus wrote: »

So basically if I put in £1K in say Dec then took out £600 so only had £400 when Jan rolls around it's still fine? so long as I put another £1K in at some point during Jan?

Yes, and it doesn't have to be £1k all at once, it could be 20 payments of £50 if need be, taking the £50 out again each time. Also, assuming you've got more than £1000 in the account, you could take the £1000 out first, then pay it back in, maybe after a trip round all your other accounts. (I've not got regular income, and do precisely this.)