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Multiple accounts for interest

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  • Zero_Sum
    Zero_Sum Posts: 1,567 Forumite
    ceredigion wrote: »
    ? You will struggle With that, but I suggest you revisit Co-0p's T&C's

    Works for me
  • Ed-1
    Ed-1 Posts: 3,958 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 11 January 2019 at 10:11PM
    YorkshireBoy wrote: »
    Point taken. Personally I use your own suggested method, the so called hub and spoke. But then in/out same day from/to same account looks bad too.

    Looks bad from the "hub" bank but not from the middle banks if they see the money being returned to the same source bank. But then the hub bank can also see the money being returned from the same accounts. Less risky approach for me in terms of trying to make clear to the AML team that you're not money laundering! As if their suspicions get too much, the law makes it very hard to engage with them at all and vice versa. And you know what suspicious minds they've got.
  • ceredigion
    ceredigion Posts: 3,709 Forumite
    Eighth Anniversary 1,000 Posts Photogenic
    Zero_Sum wrote: »
    Works for me

    You have for DD mandates on one PO account?
  • Zero_Sum
    Zero_Sum Posts: 1,567 Forumite
    ceredigion wrote: »
    You have for DD mandates on one PO account?

    Yup.......
  • ceredigion
    ceredigion Posts: 3,709 Forumite
    Eighth Anniversary 1,000 Posts Photogenic
    Zero_Sum wrote: »
    Yup.......

    Stand corrected then. Still suggest there is a easier way though.
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    ceredigion wrote: »
    You have for DD mandates on one PO account?
    Might be a terminology issue? I have one mandate at Co-op but it's used weekly by P.O.
  • Zero_Sum
    Zero_Sum Posts: 1,567 Forumite
    ceredigion wrote: »
    Stand corrected then. Still suggest there is a easier way though.

    Easier way would be weekly. But given time constraints id be £4 worse off doing that.
  • Zero_Sum
    Zero_Sum Posts: 1,567 Forumite
    YorkshireBoy wrote: »
    Might be a terminology issue? I have one mandate at Co-op but it's used weekly by P.O.

    Mine comes out something like 23rd, 25th, 27th & 28th purely as account was set up part way through month.
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Zero_Sum wrote: »
    Mine comes out something like 23rd, 25th, 27th & 28th purely as account was set up part way through month.
    I'm a little lost with what you're doing, sorry. Probably my fault as I had an early start today so it's been a long day!
  • Zero_Sum
    Zero_Sum Posts: 1,567 Forumite
    YorkshireBoy wrote: »
    I'm a little lost with what you're doing, sorry. Probably my fault as I had an early start today so it's been a long day!

    Had i set up weekly DD, id have not got the £4 in the 1st month as wouldve only had 1 or 2 DD's
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