Inconspicuously shifting £10K from BoS to Santander

colsten

None of my monthly deposits into BOS or other current accounts could be described by any of these adjectives. "Compliant" (with T&Cs) could be used if a description was needed.

Kernel_Sanders

colsten wrote: »

None of my monthly deposits into BOS or other current accounts could be described by any of these adjectives.

Come on Colsten, are our deposits not contrived to give our accounts a veneer of a functioning current account?

I will be shifting this money a third at a time over the next three Saturday mornings. This has the minor advantage of yielding an extra couple of days' interest because Santander will pay interest from the Saturday whilst BoS will continue to pay it on Sat and Sun. There should also be a third extra day if it's after 20:20 on a weekday when it's eventually returned to BoS.

jennifernil

Kernel_Sanders wrote: »

I was asked to. I set up a new payment to an external a/c but they wouldn't pay it until I rang them up. This I did but their systems were down, so I agreed (foolishly) to answer questions about my credit rating. She then asked me questions about transactions on a credit card I hadn't used for over a year, and blocked all internet access when I couldn't answer them.

I'm totally confused now!

Were you impersonating your mother?

YorkshireBoy

Kernel_Sanders wrote: »

This has the minor advantage of yielding an extra couple of days' interest because Santander will pay interest from the Saturday whilst BoS will continue to pay it on Sat and Sun. There should also be a third extra day if it's after 20:20 on a weekday when it's eventually returned to BoS.

It also has the major disadvantage that if they rumble your antics they'll close all the accounts. And if it's LBG, that does mean all of them, ie Halifax, BoS, and Lloyds...as has been reported on here and other forums.

She'll be incredibly proud of you.

YorkshireBoy

jennifernil wrote: »

I'm totally confused now!

Were you impersonating your mother?

No. This was a previous issue he had with his own accounts, not his mum's. He's worried his mum will face the same interrogation. Which begs the question as to why he's going the route he's suggested!

MarkFromCornwall

Kernel_Sanders wrote: »

Inconspicuously shifting £10K.

Of course, if you want your funds transfer to be really inconspicuous, don't post a message about it in a public forum on a leading personal finance website. :rotfl:

jennifernil

I move money around between several of my accounts, for legitimate reasons, quite often. No bank has ever questioned it.

Kernel_Sanders

Goldiegirl wrote: »

I think the OP is overthinking this.

Archi_Bald wrote: »

Yep, definitely.

YorkshireBoy wrote: »

He's worried his mum will face the same interrogation. Which begs the question as to why he's going the route he's suggested!

Some are saying I'm being over-cautious, others that I'm taking too much of a risk! :huh:

colsten

Kernel_Sanders wrote: »

Come on Colsten, are our deposits not contrived to give our accounts a veneer of a functioning current account?

As I said before, none of the adjectives you propose apply to my transfers, and there is most definitely nothing contrived about them. I am simply complying with the T&Cs of the banks that require monthly deposits.

Kernel_Sanders

YorkshireBoy wrote: »

It also has the major disadvantage that if they rumble your antics they'll close all the accounts. And if it's LBG, that does mean all of them, ie Halifax, BoS, and Lloyds...as has been reported on here and other forums.

She'll be incredibly proud of you.

You seem to be putting me in the same category as those who move large amounts of money for a couple of days solely to get a little extra interest. I only utilize this method if I'm moving the money anyway, and in the example I have proposed, the capital won't be returned until the next tax year!