Standing orders to fund current accounts?

enthusiasticsaver

I am switching my Santander Sole 123 account to First direct to get the £150 switching bonus but we are still keeping our joint Santander 123 as OH is a bit stuck in his ways and does not want to switch banks


I already have a TSB Classic Plus and Nationwide flex direct plus the two regular savers so at the moment I do the following


£1000 from Santander 123 joint to Nationwide Flex Direct
£500 from Nationwide Flex direct to Flexclusive regular saver
£500 from Nationwide Flex direct to TSB Classic Plus
£250 from TSB Classic Plus to TSB Regular Saver
£250 from TSB Classic Plus to Santander 123 joint


All go through 20th monthly and no problems so far


As I am closing the Santander 123 account in my sole name next week I have to find a home for £20k. I have opened the following accounts
1 Club Lloyds at 4% and regular saver
1 BOS Vantage at 3% (hoping to open another one)
2 Tesco current accounts at 3%
1 First Direct account for the Santander to go in and the 6% regular saver


My idea to fund these is


£1500 from Santander to Club Lloyds
£400 from Club Lloyds to Lloyds regular saver and £40 to cover 2 direct debits.
£1060 from Club Lloyds to First Direct
£300 from First Direct to Regular Saver
£760 from First Direct to Santander 123 joint


£1000 from Tesco 1 current account to BOS
£1000 from BOS back to Tesco 1


All to be done on 10th monthly to tie in with Club Lloyds direct debits


I realise that I can avoid the £10 fee on the first direct by opening the saver with a £1 which I have done but I would still have to fund the saver account anyway so figured that was the easiest way. Anything I have not considered? I presume there is no reason why the Tesco and BOS should not just cross fund? I don't want to use the Santander too much for this so figured that is an easy one. When I open the BOS 2nd account I will do the same with the Tesco 2 current.

YorkshireBoy

Tesco doesn't require monthly funding, so take that/those out of the loop.

Manually fund BoS from one of the other accounts until you have all 3 open, and then set up cross-firing internal SOs, plus another to draw off the circa £30 a month interest (circa £37 from April).