Rotating cash through accounts

Dobbibill

Under PSR they have until close of business the next working day to get your payment to the destination. Admittedly, it doesn't generally take this long but on the occasions it does then it will not arrive until the next billing period. Is it really worth putting your interest/reward at risk?

HTH

MABLE

Its only takes a few minutes a month for me to do a round robin and this is achieved by using faster payments. Also I have about 4 accounts to cycle the same money through.

steve65e

The monthly billing periods are to do with when you get interest and bank charges.

In Lloyds group the pay in and DD conditions are per calendar month. There's no problem setting up your SO's for the 1st. I've done it for years with no issues.

Watch out for accounts like Santander who use account opening date.