Best Savings Account for 'Immediate Access'

typistretired

Yes, the Lloyds payment was dated as Monday 15th but wont effect my Lloyds interest as already had £5,000 in there. I was just trying to be clever by transferring payments between Tesco and Lloyds to meet their funding requirements for interest. The money has now gone back to Tesco by faster payment. Will know if my Tesco account interest has been affected on Tuesday when it is due to be paid. Will not do again at a weekend.

YorkshireBoy

typistretired wrote: »

Will not do again at a weekend.

I don't, and never have. Stems from the old BACS 3-day transfers I suppose, and old habits die hard. If you couldn't initiate a payment by Wednesday's cut-off you lost 2 days interest the following Sat/Sun. And with YBS et al (ie those who used collection accounts with the big boys) it had to be done by close of business Tuesday to minimise interest lost!

redux

Some building societies allow online access to an account, including a facility of transfer to a nominated bank account.

I'm not expert on this, how many do it, or how long a transfer actually takes. It may be that for some the instruction is stored for processing when the place is actually open, I don't know. But a couple of per cent interest may be possible.

typistretired

I can only give information on the ones I have accounts with they all allow online access and transfers to a nominated account:-

Nationwide BS is like any high street bank faster payments instant unless they are doing maintenance but they do warn and it is usually during the night.

Coventry BS faster payments could take 24 hours would not use at weekends or Friday night.

N&P faster payments take a couple of hours but arrive same day but again would not use at weekends. Payments after 4pm go next day or next working day.

Yorkshire BS faster payments could take 24 hours would not use at weekends or Friday night.

I'm sure another poster will have other information about the other BSs not got anything with Leeds BS at the moment but think they were also within 24 hours but never used at weekends or Friday night.