hen to pay into lloyds current acc

frankie

Is there an optimum day of the month to pay the £1500 into the Lloyds current account?

Will want to ensure that I do not miss a payment and incur £5 fee!

Will be funding from my 123 account and the returning the £1500 back a couple of days later.

Thanks

grumbler

Define 'optimum'.
AFAIK it's a calendar month and all days within a month are equally 'optimal' unless the actual credit can be delayed to the next month because of the weekend or a bank holiday.
And if the return payments is supposed to qualify for S123 minimum payment, don't forget that it's statement month at Santander, not calendar.

Ballard

I use the Santander interest payment date as a reminder as that covers the requirements of all of my accounts. Some on here prefer to do the transfers by standing order but I'm happier to do mine manually.

DCFC79

Ive got mine setup to go at the start of the month then back out again a day later then repeat, all done with a standing order.

noh

I do mine around the 10th of the month with same day standing orders.

xylophone

hen to pay into lloyds current acc

Nest egg? Cluck cluck.....:rotfl:

YorkshireBoy

frankie wrote: »

Will be funding from my 123 account and the returning the £1500 back a couple of days later.

DCFC79 wrote:

Ive got mine setup to go at the start of the month then back out again a day later then repeat, all done with a standing order.

Why?.......

Presumably you're both delaying because you can't guarantee a >£1,500 balance in the account at all times? Because it doesn't make sense otherwise!

These delays are costing you 12p per day...at 2 days per month that's nearly £3 a year (coincidentally the same as the recent monthly fee increase on the 123 account...so you get one month fee[increase]-free!). Now multiply that by a number of accounts in the loop and it soon mounts up. Look after the pennies...:)