BOS Current Accounts

moneyfoolish

I think I've read this already but can somebody doing the same thing please confirm that if I have set up 3 BOS current accounts that I can have Standing Orders from BOS1 to BOS2 from BOS2 to BOS3 and from BOS3 to BOS1 all on the same day without having to use any external accounts? If that is not true then can I have an SO from an external account to BOS1 and internal SOs from BOS1 to BOS2 and BOS2 to BOS3 and an SO from BOS3 to the external account?

enthusiasticsaver

BOS accounts can have internal transfers to fund them so you do not need to set up external funding. Did you apply for all 3 BOS accounts together?


I am trying to do the same thing and got my first BOS Vantage account last week. I tried to open another one on line yesterday and they just offered me a basic one which I turned down. Funnily enough I put the purpose of the first one as savings and I put the full £5000 in there immediately. Yesterday I put the purpose as spending/bills and it was turned down .


Not quite sure how long to leave before applying again. Some people have said do it by phone instead.

moneyfoolish

No. I opened the first one last October and the second one today. I intended opening the third one later today but I might hang on for a while after what you've told me. I opened both as Vantage accounts and said that the purpose of both was as savings accounts. I did set them up at different branches but don't expect that makes any difference.

enthusiasticsaver

There have been a few threads over the last few weeks with people being turned down for 2nd and 3rd BOS accounts so you might be better off waiting. I opened a 2nd Tesco account instead but can only put £3k in that . I am going to leave it another month or two before trying for another BOS account.

TheTracker

moneyfoolish wrote: »

I think I've read this already but can somebody doing the same thing please confirm that if I have set up 3 BOS current accounts that I can have Standing Orders from BOS1 to BOS2 from BOS2 to BOS3 and from BOS3 to BOS1 all on the same day without having to use any external accounts?

Yes, that is what I do, 1>2>3>1

I do have another set of SO that every 4 weeks moves £9.23 from BOS3 to BOS1, £9.23 from BOS2 to BOS1, and £27.69 from BOS1 to Current. 5000*3%*80%/13 = £9.23. It keeps turning around like a nice little water wheel.

YorkshireBoy

TheTracker wrote: »

Yes, that is what I do, 1>2>3>1

I do have another set of SO that every 4 weeks moves £9.23 from BOS3 to BOS1, £9.23 from BOS2 to BOS1, and £27.69 from BOS1 to Current. 5000*3%*80%/13 = £9.23. It keeps turning around like a nice little water wheel.

I'm all for automation(!), so something similar here, but only 4 SOs (all on the 3rd of the month)...

£1,000 BoS1-->BoS2
£1,011 BoS2-->BoS3
£1,022 BoS3-->BoS1
£33 BoS1-->out

I just tidy the pence 2 or 3 times a year!

badger09

YorkshireBoy wrote: »

I'm all for automation(!), so something similar here, but only 4 SOs (all on the 3rd of the month)...

£1,000 BoS1-->BoS2
£1,011 BoS2-->BoS3
£1,022 BoS3-->BoS1
£33 BoS1-->out

I just tidy the pence 2 or 3 times a year!

Wot? No Halifax Rewards in that loop YB?:p

YorkshireBoy

badger09 wrote: »

Wot? No Halifax Rewards in that loop YB?:p

Not likely! There's only £1 in 3 of them for most of the month, and £6 from the Reward payment date until £5 of it is removed by a pair of DDs around 5-6 days later.

My Reward accounts are funded manually on payday.