Kroo

s71hj

I'm sure I read somewhere on here that with Kroo, Standing orders and direct debits go out 7 days a week, but can't now find it. Does anybody know if that is the case? Thanks

dul50n

Standing orders do, direct debits don't

s71hj

dul50n said:

Standing orders do, direct debits don't

Thank you very much

retiredbanker1

Standing orders might go out on weekends but it is likely that the recipient account won't credit until the Monday.

s71hj

retiredbanker1 said:

Standing orders might go out on weekends but it is likely that the recipient account won't credit until the Monday.

Will they backdate do you know? 

ryoko

s71hj said:

retiredbanker1 said:

Standing orders might go out on weekends but it is likely that the recipient account won't credit until the Monday.

Will they backdate do you know? 

Why would you not ask Kroo?

friolento

s71hj said:

retiredbanker1 said:

Standing orders might go out on weekends but it is likely that the recipient account won't credit until the Monday.

Will they backdate do you know? 

You'd need to ask the recipient. If it's an SO to a current account, I would say it gets credited immediately. If it is a savings or investment account, it may or may not get credited immediately, and if not immediately, it may or may not get backdated. Totally up to the recipient.

retiredbanker1

Say it is to an account with a high street bank - their systems do not work at weekends - therefore the money will be credited on the Monday and dated the Monday.

s71hj

retiredbanker1 said:

Say it is to an account with a high street bank - their systems do not work at weekends - therefore the money will be credited on the Monday and dated the Monday.

I was trying to get my head round  whether there was any advantage from the point of view of gaining interest in doing standing orders to regular savers from a current account that still did them weekends. I'm getting the impression of disadvantages if anything 

penners324

No real advantages or disadvantages. Just money goes out when you expect it to.

s71hj

penners324 said:

No real advantages or disadvantages. Just money goes out when you expect it to.

Disadvantage I'm seeing is money leaves Saturday so has a day in limbo before earning interest again in the new account on the monday