Savings accounts that have regular transfer facilities

Trav7

I am looking after a relatives finances. The relative (he) has less income than his monthly outgoings. So each month I have to top up his current account from his savings account to cover the DD's. Doing this once a month is not exactly onerous, but I am concerned that I may overlook doing this one month resulting in DD's not getting paid. So I have been trying to find a way to automate this, looking at savings accounts that allow a regular transfer out of the savings account to a current account. Does anyone know of any savings accounts that would support this or any other way of doing this.

Vortigern

Al Rayan's instant access account can do standing orders.
Tesco Internet Saver allows future dated payments, but not standing orders.

xylophone

He might consider opening  an interest paying current account?
For example, the TSB Classic Plus pays interest at 3% on up to £1500.

Trav7

That's very helpful - thank you both, I'll follow up with AlRayan to start with and if that doesn't work out then at least the future dated aspect of Tesco would help.

colsten

You can do single future dated transfers on a whole host of savings accounts. KRBS, Saffron, Coventry for instance. I am sure there are more

The Al Rayan SOs are a bit of a faff as you can only set them up, and view them in their old web-based internet banking, not in their app. The internet-based banking does not share payees with the app, and your balance will only be updated in the app. The internet-based banking is meant to disappear soon and they don't appear to have any intention to provide the SO function for their savings account in the app. Besides, the AER for new applications is now 1%. They have also stopped SOs that have previously executed fine for several months "for additional checks" - and they don't inform you about that! Which defeats the object of being able to rely on the automatic payments. Bottom line I wouldn't recommend them at this stage.

ZeroSum

Paragon do

Vortigern

ZeroSum said:

Paragon do

Paragon do multiple future dated transfers to one linked account. I'm not sure whether they do standing orders.

soulsaver

Post Office Bank do, but whether you can rely on them …?
Edit: I can't find the facility in PO, now - maybe my memory failure...
But I know for sure you can't rely on them.

Bobblehat

Charter Savings Bank allow regular automatic payments out of their Easy Access account, It works well for me as a feeder for my RS's, but their current interest rate is a bit low compared to when I joined them .... worth keeping an eye on their rates to see if they become nearer to the top EA interest payers.

sohailafzal

Did you tried risk accounts ?  else you can invest in shares

Trav7

Thanks again for all the input.  This has to be an no risk approach so Easy Access Savings is the only option I think I have.

I have a PO Savings account and that doesn't have any regular/future withdrawal options, but I notice that the interface has changed so maybe they've dropped that option.

Charter and Saffron interest is a bit too low, also Saffron doesn't appear to have online facilities.

I'm following up with the others to get them to confirm they have these facilities - trouble is none of them seem to advertise this even if they offer it.

I'll update when I have answers in case anyone would find it helpful.