How to optimize transfers between accounts

Westie983

why cant you choose the 12th of the month? I have just logged onto barclays and you can choose any date you want?

Im confused to what you are asking, you want to make interest but dont want to move money? in that case Tesco maybe your option as it doesnt have a funding requirement, of any of the account already mentioned and just pass the 1k through the accounts as others have suggested.

jennifernil

VeryMan wrote: »

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

If you have say 5 accounts with at least £1000 in them then you can set up SOs to move the required £1000 simultaneously around all accounts, without involving your salary as long as none of the accounts are with the same bank and this bank requires "new" money.

For example, I have 3 BOS Vantage, the money goes V1...V2...V3...V1

Then I have 4 TSB Classic Plus (2 sole, 2 joint), the money goes CP1......CP2......CPJ1......CPJ2.....CP1.

All on the same day.

colsten

Celifein wrote: »

Unless I've misunderstood your diagram, this wouldn't work, because you're moving within the same bank.

You have misunderstood. The example jennifernil described has been working perfectly up to now. It might not work for other banks, or in the future. You always need to check the T&Cs.

molerat

Celifein wrote: »

Unless I've misunderstood your diagram, this wouldn't work, because you're moving within the same bank.

What is the problem ? Of my accounts (BOS, TSB, Tesco & Santander) only Santander have the requirement for it to come from a.n.other's account. Even then I can fund my personal Santander account from MrsM's personal Santander account to satisfy the requirement.

[Deleted User]

Celifein wrote: »

OP: You have £150k.

Only in their imagination.

Ballard

VeryMan wrote: »

OMG OMG OMG!!!!!
I dont want to make a transfer on 12th of the month.....
I want to set a standing order to transfer EVERY 12th of EACH month!!!!

If you can set up a monthly standing order then you can choose the date that it's moved each month. It doesn't go at random days every month. It's really not difficult to work that out.

VeryMan

jennifernil wrote: »

If you have say 5 accounts with at least £1000 in them then you can set up SOs to move the required £1000 simultaneously around all accounts, without involving your salary as long as none of the accounts are with the same bank and this bank requires "new" money.

For example, I have 3 BOS Vantage, the money goes V1...V2...V3...V1

Then I have 4 TSB Classic Plus (2 sole, 2 joint), the money goes CP1......CP2......CPJ1......CPJ2.....CP1.

All on the same day.

You are driving me crazy, how on earth can you set SO to move 1k SIMULTANEOUSLY to more than one account???
You mean you move it from one to the other and so on? How do you manage this? Have you set specific time in your SO so that the delivery will take place one after the other???

SuperAllyB

As long as you have more than the value of the standing order in each account it doesn't matter what order they go out in. If you haven't got enough then stick to manual payments.

And don't be so bloody rude to posters that are trying to help you.

ceredigion

I give up ...

bigadaj

It's all been explained pretty thoroughly, a combination of the OPs lack of English and general understanding of basic account operation seems to be the only obstacle now.

Notwithstanding whether the funds in question are actually legal in the first place.