First direct monthly saver

AmityNeon

In practice, the terms are a descriptive approximation of the system implementation. There is no specified penalty for failing to strictly adhere to the terms. Processes that result in a breach of the terms, whether intentional (e.g. cancelling and recreating the standing order to a different date) or incidental (e.g. two payments in a calendar month), do not financially benefit the customer nor negatively impact the provider.

I'm not certain there even is a monthly payment window. You could potentially pay as much want into the account at any time, and any excess over the Maximum Monthly Balance just earns standard rate interest.

pookey

Thank you everyone.
I waited to open it till end of the month thinking I could set up a standing order from 1st of next month to maximise interest. I didn't really they say it for you 😅

AmityNeon

pookey said:

Thank you everyone.
I waited to open it till end of the month thinking I could set up a standing order from 1st of next month to maximise interest. I didn't really they say it for you 😅

You can cancel the standing order and create your own for the 1st of each month, but it would hurt your interest to do so because HSBC/FD regular savers work differently (you'll only earn standard interest on the deposit until your account month resets).