Two Bank Accounts

jimjames

YorkshireBoy wrote: »

I didn't put HSBC down for a reason...this thread is about current account interest and (Halifax) Rewards, not access to regular savers and/or switching incentives.

Fair enough. I mentioned HSBC because I do get monthly rewards from them, £10 paid into ISA

w00519772

colsten wrote: »

It would be easier to answer if you

1. could name the banks/accounts involved
2. told us how you want to shift the money around, e.g. by SOs, by FPs?

I have edited the questions to explain my exact scenario.

Sam_J12

YorkshireBoy wrote: »

That's not true is it? A quick listing below shows entirely the opposite...

Internal:

Halifax Reward
BoS Vantage
TSB Plus
Lloyds Club

External:

Nationwide FlexDirect
Santander 1-2-3*

So twice as many providers allow internal funding as stipulate external funding.

* And even Santander can be fed from another Santander account...just not one in your own name (unless a Santander business account in your name).

You are just nitpicking. I will change my statement to say "some accounts require external transfers". Since OP did not specify which account he was referring to and what the conditions are, mentioning this is clearly pertinent and is something OP should double check. Your comment contributed nothing.

YorkshireBoy

Sam_J12 wrote: »

You are just nitpicking.

I prefer to call it clarifying, just like someone else had to do with another of your posts yesterday.

I will change my statement to say "some accounts require external transfers".

Thank you. I'm all for accuracy.

Since OP did not specify which account he was referring to and what the conditions are, mentioning this is clearly pertinent and is something OP should double check.

On the contrary. Even before the edit it was blatantly obvious what they were doing and asking about.

Your comment contributed nothing.

No. It added a lot of detail pertinent to the OP's situation...but I can see why you're smarting, 2 days in a row can't be good.

Enjoy your evening.

colsten

Thanks for the additional detail OP, it does indeed make it easier to comment

• I would do Yorkshire Bank manually, with FPs (in/out within 5 minutes) until I get the bonus.
  
  
• Tesco doesn't need any monthly deposits
  
  
• As your salary goes into HSBC, you just need to feed TSB and Halifax on an ongoing basis.
  
  
  • I would do Halifax manually (in/out within 5 minutes, sweep up the £5 whilst you are at it) because there could be all sorts of reasons why you could go into an unauthorised overdraft if you let SOs do the job. It would also automatically disqualify from the monthly fiver.
    
    Don't forget that you also must have 2 monthly paying DDs from the Halifax.
    
    
  • TSB can exchange £500 with Tesco by SO any time you like BUT be aware Tesco process DDs 7 days a week whilst other banks only process them on working days. You have enough in both, TSB and Tesco, to avoid going overdrawn. As and if the SOs go out of synch, they'll soon catch up, and it will only cost you fractions of pennies in lost interest. To minimise the "issue", set up your SOs to execute every 4 weeks on a Wednesday.
    
    Alternatively, you might be able to do the TSB SO with your HSBC account but I don't know the T&Cs of the HSBC account.

Sam_J12

YorkshireBoy wrote: »

I prefer to call it clarifying, just like someone else had to do with another of your posts yesterday.Thank you. I'm all for accuracy.On the contrary. Even before the edit it was blatantly obvious what they were doing and asking about.No. It added a lot of detail pertinent to the OP's situation...but I can see why you're smarting, 2 days in a row can't be good.

Enjoy your evening.

I'm afraid you are wrong again - the way the OP phrased his original question meant that there was no current account that matched what he was talking about. I helpfully mentioned that he should be aware that some accounts require external transfers, a common question on this forum.

enthusiasticsaver

I do all my standing orders between current accounts to satisfy funding conditions on the same day. Never had a problem but then the balances are always sufficient to ensure if there was a problem with dates over a weekend none would go overdrawn anyway.

badger09

enthusiasticsaver wrote: »

I do all my standing orders between current accounts to satisfy funding conditions on the same day. Never had a problem but then the balances are always sufficient to ensure if there was a problem with dates over a weekend none would go overdrawn anyway.

If you are using the Halifax Reward account, that implies you are leaving a permanent £750 balance earning 0% :eek:

colsten

Sam_J12 wrote: »

Your comment contributed nothing.

WOW.

You are attacking another poster for posting facts? Why would you do that?

You also picked someone who had some 14,400+ people thanking him over the last 10 years for his helpful contributions to this forum. May be your above comment was a bit rash? As by any fair assessment, you are wrong when saying YorkshireBoy's comment contributed nothing.

Also, if you hang out on the forum for a little longer, you will more likely than not appreciate that YorkshireBoy is one of the most well informed, well respected, clever and helpful people on this forum.

enthusiasticsaver

badger09 wrote: »

If you are using the Halifax Reward account, that implies you are leaving a permanent £750 balance earning 0% :eek:

I don't have a Halifax rewards account. At the moment just Santander, first direct, tsb, nationwide, lloyds, bos and tesco - yikes that's a lot of bank accounts!!!:cool::cool: