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Comments
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Interesting idea for the flow chart. Did you use any particular program for that?
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Unfortunately, I'm not a new customer for Oxbury and Tembo is £20k max and I will not bother with the PO as after 45 years at this address they asked for ID!
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I just used PowerPoint. It helped to explain money going in and out of a single current account (my "linked account"). I thought just sending a pile of statements would be utterly confusing for the solicitor and ultimately result in delays and questions. The flow chart allowed them to more easily tie everything together.
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I know it's likely to be large sum and u will want to maximise interest, BUT given u say it's only for one month then maybe the govt backed NS&I would be less hassle/ easier albeit at the expense of a poorer interst rate.
NS&I Direct Saver: 3.45% AER (variable), is easy access and up to 2 Million.
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That's certainly an option, but how easy would it be to transfer 500k from NS&I to my solicitor when the funds are required?
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500k is a lot to lose any interest on ..even for a month so maybe mix and match with the 120k limit better accounts elsewhere....
This is from Chatgpt so I would suggest that you confirm with NS&I to ensure it's accurate!
Up to £50,000 in total withdrawals in one day: the money will normally reach your nominated bank account by the end of the next banking day if you submit the request before 8pm. �
NS&I
More than £50,000 in total withdrawals in one day: NS&I will still process the withdrawal, but it typically takes longer—normally 2–4 banking days (for phone requests) or around 2 banking days (online). �
NS&I
So, for example:
Withdraw £20,000 today → usually arrives the next banking day.
Withdraw £250,000 today → allowed, but expect a longer processing time.
The only balance rule is that you must leave at least £1 in the account to keep it open, unless you are withdrawing everything and closing the account. �1 -
My son's solicitor messed me around for hours and hours and hours ! 'fulfilling' his money laundering regs. Like others on here, I had maturities of RS, amounts going between 30 odd accounts, ins/outs, etc. over the last 6 mths, almost daily
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I'll give another tip that with Nationwide if you "groom" account payees by sending small amounts every day , eventually worstcase £25k limits per nationwide account per day become generous £100k limits. Combine that with, in my case, a legacy flex basic account, a flex direct account, a wife's account and a joint account, and I could shift £400k per day with no sweat and it never triggered fraud checks. My flex accounts were a very useful funnel for rate hopping between institutions while spending a year renting.
Their payee descriptions with nicknames are also excellently implemented. Contrast that with Lloyds, where half the time I'm not entirely sure who I'm paying….
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Re: Cahoot - yes I have had interest take a couple of days… vaguely recall I once upgraded on a Friday or Saturday (last year) and I got the interest on the Monday.
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Being an ex mortgage broker, I have always chuckled at the observation that solicitor is ALMOST an anagram of clitor*s. I know which is the most useful, doesn't speak rubbish and is the most pleasant to deal with. Forgive me!
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