Standing Orders to Santander 123 current account ...

saver861

jjlothin wrote: »

My utility bills aren't mega (living in a 1-bedroomed flat) - I've worked out that I'll only be something like 12p down against the monthly fee if I transfer electricity + phone/internet ...

You will get CB on Council Tax, TV, Mobiles etc .. so look it up. It is worthwhile. Certainly should be more than the £2.

I have SO's for the limits for various accounts. Its easier in that you don't have to remember to do it manually every month. Its all round robin so the amount does the rounds on the same day and the account balances are all the same that night!

colsten

saver861 wrote: »

Its all round robin so the amount does the rounds on the same day and the account balances are all the same that night!

Slightly off-topic: be careful when doing that as not all banks have the same weekend/holiday processing rules. For example, Tesco appear to be processing SOs any day of the week (incl. weekends) whilst other banks usually process SOs that would fall on a Sat or Sun not until the following Monday. Your balances might therefore not balance for 2 or 3 days.

saver861

colsten wrote: »

Slightly off-topic: be careful when doing that as not all banks have the same weekend/holiday processing rules. For example, Tesco appear to be processing SOs any day of the week (incl. weekends) whilst other banks usually process SOs that would fall on a Sat or Sun not until the following Monday. Your balances might therefore not balance for 2 or 3 days.

Yes that is a valid point.

My accounts are all maxed so the worst case scenario is I lose a day or two's interest on the transferred amount. That said, for our Halifax accounts which were opened purely for the incentives £100 + £40 cashback and the £5 per month gift, the situation is a little different. Those are either best done manually or do the withdrawal SO two days after the pay in.