How to optimize transfers between accounts

VeryMan

Hello!
I am trying to spead some money into various banks and accounts to get the maximum interest rate. I fixed the problem with the direct debits needed. But I am not satisfied with the obligation to deposit a minimum of 1k etc every month in each account. The problem is that the standing orders of several online bankings I have tried, they don't have an option to move money every 12th of each month or something. They instead allow you to move 'every month' or 'every 4 weeks' etc, which complicates things when I have to move the same 1k across 5+ bank accounts. Are there also any delays in such transfers or they are instant? Does anyone have a good suggestion?
thanks!

ceredigion

Select every month then you can put the date in the appropriate box.

ceredigion

VeryMan wrote: »

Hello!
I am trying to spead some money into various banks and accounts to get the maximum interest rate. I fixed the problem with the direct debits needed. But I am not satisfied with the obligation to deposit a minimum of 1k etc every month in each account. The problem is that the standing orders of several online bankings I have tried, they don't have an option to move money every 12th of each month or something. They instead allow you to move 'every month' or 'every 4 weeks' etc, which complicates things when I have to move the same 1k across 5+ bank accounts. Are there also any delays in such transfers or they are instant? Does anyone have a good suggestion?
thanks!

why the same 1k?

VeryMan

ceredigion wrote: »

Select every month then you can put the date in the appropriate box.

that's not possible in NationWide and Barclays online banking

DCFC79

VeryMan wrote: »

because my salary has only 1k?

So you got no other savings ?

You move your 1k salary into account A then the next day you move it into account B then the next day you move it into account C.

Have I misunderstood what you asked ?

ceredigion

DCFC79 wrote: »

So you got no other savings ?

You move your 1k salary into account A then the next day you move it into account B then the next day you move it into account C.

Have I misunderstood what you asked ?

If no other savings why have the accounts ?

ceredigion

VeryMan wrote: »

that's not possible in NationWide and Barclays online banking

It will be....

DCFC79

ceredigion wrote: »

If no other savings why have the accounts ?

What I was getting at was use the savings to go in 1 account then out then into another.

VeryMan

DCFC79 wrote: »

So you got no other savings ?

You move your 1k salary into account A then the next day you move it into account B then the next day you move it into account C.

Have I misunderstood what you asked ?

exactly yes

VeryMan

I dont want to move my savings, I want my savings to earn the interest, not be moved

colsten

VeryMan wrote: »

that's not possible in NationWide and Barclays online banking

It certainly is possible at Nationwide.

I haven't checked Barclays, as they have no worthwhile account for interest or rewards.

Shifting money between accounts has been discussed in depth in previous threads.