60 seconds loophole

ethy

on the 60 loophole savings I've been through it but there's no mention of setting up standing order for rbs 1st account to tsb 1st and 2nd account second time round am I missing something

bowlhead99

I have no idea what a "60 seconds loophole" or a "60 loophole savings" is, but presuming you are just playing a game of moving money between current accounts to meet their minimum monthly pay-ins, then just make sure you move enough money to hit the minimum terms and conditions on all the accounts. If it takes more steps than the absolute lowest number of steps, or you realise the original plan you were following accidentally missed a step or two, no harm done.

Everyone has their own personal circumstances and amounts to shuffle from place to place. So, I wouldn't rely on a printed guide somewhere on the internet, simply work out what money needs to go into what account each month, taking into account any requirements to feed from an "external"account instead of internally with one bank, and move it until it does.

masonic

I'm assuming the OP means this. I assume the standing orders to pay into the TSB accounts are covered in 'Day 9'. That guide makes my eyes cross. I much prefer to log in once per month and move the money around myself.

colsten

I do all my shuffling by SOs on the same day, with the exception of the Halifax Reward which I do manually. I have 16 accounts which need minimum monthly sums.

My account balances are high enough that no account can go overdrawn should an SO fail - but none has ever failed.