Timing standing orders

r2015

What is the shortest time I should leave between standing orders that transfer money into an account with a Zero balance then transfer it out again or do banks do standing orders as money in money out on the same day?


I have been transferring the money manually but I want to automate the process.


This is for my Nationwide account for my travel insurance.

Archi_Bald

At least 3, preferably 4 or 5 calendar days, to allow for long weekends

YorkshireBoy

But even leaving so long between might not cover a glitch with the sending account if you don't spot it and act in time.


I have the same FlexAccount set up as you and I fund it manually each month, and immediately withdraw, on the same day I make all my other transfers (both automated and manual) each month. Takes all of, what, 30 seconds? Surely not too onerous? After all, you need to log in several times a month anyway to check everything's OK don't you? If you don't, you should do!

ERICS_MUM

Taking YorkshireBoys comment about checking your online banking, it's the first thing I do every morning. I wake up and before I get out of bed I grab my mobile phone and log in via the NatWest app. I know approx how much I should have in each account and my expected ins and outs so a quick glance highlights anything wrong or unexpected. Takes me one minute.

It's the only way to keep a firm control on your money and avoid charges or worse.

YorkshireBoy

ERICS_MUM wrote: »

it's the first thing I do every morning. I wake up and before I get out of bed I grab my mobile phone and log in via the NatWest app.

With approaching 30 current accounts, my legs would be well and truly crossed by the time I'd checked all mine!

vouch0r

YorkshireBoy wrote: »

But even leaving so long between might not cover a glitch with the sending account if you don't spot it and act in time.


I have the same FlexAccount set up as you and I fund it manually each month, and immediately withdraw, on the same day I make all my other transfers (both automated and manual) each month. Takes all of, what, 30 seconds? Surely not too onerous? After all, you need to log in several times a month anyway to check everything's OK don't you? If you don't, you should do!

that's interesting, i have automated all the transfers via SO for the same day though indeed none are zero , even interest is skimmed off into another account, so i just check there to make sure its arrived

Archi_Bald

Same day in/out is not an issue if you have sufficient money in the accounts to cater for any hiccups. The OP asked about a transfer
into an account with a zero balance then transfer it out again. I would not dare that with same-day SOs.