Will my bank accept it ?

amizaki

Hi,
i m new at this forum. Can any expert give me one suggestion ? Recently, i opened an current account at Llyods TSB. when i opened i said i will pay in my salary which is 1000+/month into the account. But problem is i got another account at Abbey and where my wages pay in via BACS for last 1 year. As, i want to continue both of these accounts, what should i do now ?

If, i make a standing order from my Abbey account to Lloyds TSB account equal to my wages and at Abbey account pay in my wages via BACS from employer as it already going...then will it be accepted my both account ?

as both banks accounts preferring minimum 1000 pay in monthly, if i do this above way.. will it satisfy them ?

What do u think guys ?

thx

jonesMUFCforever

Yes it will work but one has to ask the question why bother opening a new account with Lloyds if you have no intention of using it?

amizaki

ejones999 wrote: »

Yes it will work but one has to ask the question why bother opening a new account with Lloyds if you have no intention of using it?

not really, actually i want flaxibility... if i have two good accounts, then in any emergency case, i can use another account... in a word i get another option... & also can compaire their services.

And about intention of use ? i m using both accounts almost equally for my purchases and also splits all DD & SOs.

exel1966

Remember that by moving funds by SO from one to the other will take 3-4 days so you won't have access to these funds.
Why don't you change your salary mandate to be paid into the Lloyds account as it requires minimum funding ?
Alternatively, if you have access to both banks, simply withdraw cash from one and deposit it immediately into the other.

LittleVoice

The terms of the Abbey account probably require a salary to be paid in. So the initial salary funding should go there.

LTSB simply require £1K minimum/month to be paid in during the month. This does not have to be in one instalment - it can be smaller amounts as long as they total at least £1K. So moving £1K from Abbey to LTSB is probably the simplest - whether you do this by SO or various BACS transfers matters little.

As far as immediate access to your funds is concerned: if you work near a LTSB branch, withdraw four lots of £250 ATM cash from Abbey and pay into LTSB. (I haven't checked the T&C recently but seem to recall that the accumulation of a month's payments in starts on the second of the month, not the first.)

marvin

ejones999 wrote: »

Yes it will work but one has to ask the question why bother opening a new account with Lloyds if you have no intention of using it?

I got 2 by accident but
Nationwide all my outgoings
TSB all my incomings
so I am protected should I have a problem my wages not swallowed up in the problem.

Also does the credit rating no harm if they see £2000 a month going through 2 accounts rather than £1000 going through 1. (or in my case £4000 going through 2 rather than £2000 through 1).

jonesMUFCforever

Sorry but some posters really make me laugh!
The time and effort they make thinking that by transferring money twice in a month actually makes your credit files look better - if only you took the same amount of effort to look after one main account you would have no problems.