Another Tesco question

Shakin_Steve

I am in the process of opening a second account. Once open, can I transfer money between the two?

xylophone

I am in the process of opening a second account. Once open, can I transfer money between the two?

Yes, you can.

Shakin_Steve

xylophone wrote: »

Yes, you can.

Thank you.

badger09

Shakin_Steve wrote: »

I am in the process of opening a second account. Once open, can I transfer money between the two?

You can but why do want to?

There is no monthly pay in requirement.

TheShape

badger09 wrote: »

You can but why do want to?

There is no monthly pay in requirement.

I shuffle money between my two Tesco accounts sometimes even if it's just to move the interest from the account that's full to the account that isn't.

Jibeddy

TheShape wrote: »

I shuffle money between my two Tesco accounts sometimes even if it's just to move the interest from the account that's full to the account that isn't.

Without meaning to sound like a know it all (there's probably a good reason why you do this). But surely it would be easier to manage by having the money in each account filled evenly? They'll accrue the same interest over time and no chance of missing out on any interest compounding!

Vortigern

TheShape wrote: »

I shuffle money between my two Tesco accounts sometimes even if it's just to move the interest from the account that's full to the account that isn't.

If you divide your Tesco cash equally between the two accounts, they'll both grow at the same rate until both are full. No need to shuffle.

Shakin_Steve

badger09 wrote: »

You can but why do want to?

There is no monthly pay in requirement.

Because...I have four grand in the one that's already open, so £1000 will be going over to the second. So there.

YorkshireBoy

Shakin_Steve wrote: »

Because...I have four grand in the one that's already open, so £1000 will be going over to the second. So there.

If I was badger I'd now be asking you why you'd put £1,000 in an account paying 0% AER interest.


But seriously, did the question in your OP really need to be asked? What kind of bank, having granted you a second current account (to help with budgeting for example), would then stop you from, er, budgeting?

Archi_Bald

Shakin_Steve wrote: »

Because...I have four grand in the one that's already open, so £1000 will be going over to the second. So there.

What would stop you from having £2,000 in each of your accounts to start with?

badger09

YorkshireBoy wrote: »

If I was badger I'd now be asking you why you'd put £1,000 in an account paying 0% AER interest.


But seriously, did the question in your OP really need to be asked? What kind of bank, having granted you a second current account (to help with budgeting for example), would then stop you from, er, budgeting?

You saved me the effort:)

Archi_Bald wrote: »

What would stop you from having £2,000 in each of your accounts to start with?

To be fair, if OP is only now in the process of opening the 2nd account and already has £4k in the 1st:cool: he can't have £2k in each "to start with".