Rotating Money

luckofthe_irish

Jennifer_Jane wrote: »

What a sweet reply. Of course it makes sense to ask people a question such as this. Some people might have replied that they like to keep things in overnight, but if you need the money sooner, then there's no problem with doing it once it's registered in your account.

If anyone feels that their time is being wasted, they don't have to reply, do they? So, nothing to apologise for, as far as I'm concerned.

Enjoy the Board. I still know people who don't do this kind of thing and think I'm a bit eccentric for having 9 bank accounts.

Good luck!

Thank you for your message - it is very much appreciated. I was only looking for some advice, I've never done such a transaction before so I thought this was the best place to ask! I have learned my lesson!

As of last month I had one current account... now I have three and attempting to make my small amounts of money work for me! Its a start .

LXdaddy

luckofthe_irish wrote: »

Thank you for your message - it is very much appreciated. I was only looking for some advice, I've never done such a transaction before so I thought this was the best place to ask! I have learned my lesson!

As of last month I had one current account... now I have three and attempting to make my small amounts of money work for me! Its a start .

There's nothing wrong with asking questions. Some of the answers might have read as a bit sarcastic - I'm sure they were not meant to be rude.


The thing is that the same question gets asked multiple times and the same people provide the answers. Sometimes rather than giving a straight direct answer you get a bit of a hint or a challenge to find the information. Reading the Savings & Investments board you will find the answer quite quickly.


The detailed answer is that to meet the "you must deposit a minimum of £x during the month" requirement you have to do exactly that. You have to have made credits to the account that add up to at least £x during the period. There is no restriction on how long the funds stay in the account - if there was it would say so. If your balance is sufficient you can withdraw £x BEFORE you deposit £x.

luckofthe_irish

LXdaddy wrote: »

There's nothing wrong with asking questions. Some of the answers might have read as a bit sarcastic - I'm sure they were not meant to be rude.


The thing is that the same question gets asked multiple times and the same people provide the answers. Sometimes rather than giving a straight direct answer you get a bit of a hint or a challenge to find the information. Reading the Savings & Investments board you will find the answer quite quickly.


The detailed answer is that to meet the "you must deposit a minimum of £x during the month" requirement you have to do exactly that. You have to have made credits to the account that add up to at least £x during the period. There is no restriction on how long the funds stay in the account - if there was it would say so. If your balance is sufficient you can withdraw £x BEFORE you deposit £x.

Thank you for clarifying this exactly for me. I did search the forums and Google but could not find one straight answer so that is why I asked. I will search more thoroughly before posting again. Happy to hear it is that straightforward :T

Jennifer_Jane

luckofthe_irish wrote: »

Thank you for your message - it is very much appreciated. I was only looking for some advice, I've never done such a transaction before so I thought this was the best place to ask! I have learned my lesson!

As of last month I had one current account... now I have three and attempting to make my small amounts of money work for me! Its a start .

I'm exactly the same (referring to your "making small amounts of money work for me").

Over the years thanks to MSE and a good credit score, I'm probably £5,000 up through canny cashback use, insurance and broadband switches, bank account incentives, and clever shopping, and even checking things like getting a pension forecast (as it was incorrect when it came through).

I only wish I'd actually monitored on my spreadsheet exactly how good MSE has been for me.

As always, I repeat my gratitude for the people who bother to post information and their experiences.

Again, good luck!

pollypenny

Thanks t MSE I've been a multi-banker for just over a year after 50 yeas with Midland/HSBC.

I use Santander for bills and saving, with £20k sitting there and financed by a £500 standing order from our my account, Nationwide Flex Plus which gives us loads for about £5 pm net, the Halifax Reward goes to charity, and TSB X 2 comes to us. The necessary paying-in sums are there for about 20 minutes in each case.