Do you cycle your £1,000/£1,500 manually or Standing Order?

teddysmum

edinburgher wrote: »

Manually, it's a nuisance when you forget and miss a month of interest!

But that would make you more alert next time.

teddysmum

DragonQ wrote: »

I have a couple of them set up via standing order but it relies on my "main" account actually having a few grand in it. Whether that is the case depends on where I am through my regular saver cycles.

On the 3rd of each month I do most of it manually. Takes maybe 15 minutes. The only frustrating ones are my Tesco current accounts since payments to/from them are the only ones that don't happen instantly in my experience. Might just close them, thinking about it, since I doubt I'll be able to fill my others any time soon.

As Tesco no longer need fixed payments inwards or dds outwards, you could leave them out of your cycle and just circulate a few random pounds to keep the accounts alive.


I did a TSB to Co-op , yesterday and found that it took about an hour. (Possibly as it was a first time ?)

[Deleted User]

Manually, it only takes about 5 minutes each month anyway. I would really recommend you guys to use the First Direct Internet Banking Plus system which collates all of your accounts into one place where you can access all of them at once rather than going into each account manually. The login data is saved locally to your PC so don't worry about the first direct internet banking plus account getting hacked. The only caveat is that you have to use Internet Explorer...

neilsedaka

By standing order. Each pair or group on the same day. Have never encountered a significant problem.

phred

By standing order in and out on the same day as I have sufficient balances in the interest paying current accounts.
Standing orders in but manual payment out (after collecting £5 reward) for Halifax reward accounts as I do not keep any more than £1 in these accounts and weekends complicate matters. This works well as I can't forget to get my reward.

YorkshireBoy

phred wrote: »

Standing orders in but manual payment out (after collecting £5 reward) for Halifax reward accounts as I do not keep any more than £1 in these accounts and weekends complicate matters. This works well as I can't forget to get my reward.

You must have some VERY small DDs!

JustAnotherSaver

YorkshireBoy wrote: »

You must have some VERY small DDs!

Mine are only £1.

I run £3 in those kinds of accounts. 2 DDs for £1 come out on the 1st of the month & go to my Tesco.

I log in to my Tesco & set it up so that £2 returns to the relevant accounts a few days before the end of the month so that the money is there for the 1st of the month ready to do the dance again.

LXdaddy

YorkshireBoy wrote: »

You must have some VERY small DDs!

My two DDs on Halifax total £5 matching the reward.

phred

You must have some VERY small DDs!


Not really.
I have a S.O. from Santander to the Halifax for £812 on the 4th of the month, just to make it look good. I know my 2 x £15 DDs to Tesco will come out around the 9th. I therefore manually transfer back on the 4th (or first working day after) £787 back to Santander.
This leaves my £1 balance + £812 + £5 - £787 = £31 for a few days until the DDs of £30 are taken, leaving a balance of £1.
I later transfer Tesco money into their 3% account.

Dird

Another problem with automated is co-op & maybe others say you need to login at least once per month to qualify for their offer so you still have to do some manual action anyway