Setting up for some good savings interest.

Eco_Miser

Same day is fine.
Relying on your wages being in the Halifax by the time the SO goes out is slightly dodgy - does your employer pay earlier or later if the due day is not a banking day?

ruudy

Eco_Miser wrote: »

Same day is fine.
Relying on your wages being in the Halifax by the time the SO goes out is slightly dodgy - does your employer pay earlier or later if the due day is not a banking day?

They pay me on the second last working day of each month. Would it be wise to set SO's for the last day of each month? Or would it be wiser just to do a manual faster payment?

I've also been looking at Clydesdale/Yorkshire 150 quid switch since the First Direct effort didn't wotk out for me.

Eco_Miser

It's probably a good idea to leave a day after a payment not in your control - or maybe two, and do the SOs on the first working day of the next month, avoids any chance of delays causing you not to make a payment in a particular month.

Personally, I use faster payments. It means I can sweep the interest into an account with space for it.
It also means I'm risking a load of trouble if I can't get online for any reason.

ruudy

Yeah. I think faster payment should be fine for me if i'm keeping accounts to a minimum. Like yiu say though, first working day of the month sounds good if i choose to go standing order route.

Something i wondered... For those that use/switch a lot of accounts, i presume that you aren't always switchong out of accounts that you like to use to take advantage of good switching bonus etc. Does this mean that you keep some very basic current accounts (with little requirements) open at times for the purpose of switching?