Kroo

friolento

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.

If it is a current account with a high street bank, your money arrives instantly, and is dated same day. I reckon there are even savings accounts with high street banks which would receive, and credit, the money instantly - e.g. Santander Edge saver, Cahoot [/Santander] savers, Halifax Monthly Saver etc

Though the credit date can/will also depend on the time of day you send your money as different companies have different end-of-day times.

It's fairly pointless IMO trying to figure out the differences with a view of making money as if you can make any at all, it will be a tiny amount, and it might even backfire as you might actually lose a few pence.

retiredbanker1

And the amount of interest  lost is so miniscule its not worth worrying about.

s71hj

retiredbanker1 said:

And the amount of interest  lost is so miniscule its not worth worrying about.

When you're transferring £15000 a month to regular savers it adds up! 

retiredbanker1

s71hj said:

retiredbanker1 said:

And the amount of interest  lost is so miniscule its not worth worrying about.

When you're transferring £15000 a month to regular savers it adds up! 

If it worries you that much do not make the transfers over weekends or bank holidays - simples.

s71hj

retiredbanker1 said:

s71hj said:

retiredbanker1 said:

And the amount of interest  lost is so miniscule its not worth worrying about.

When you're transferring £15000 a month to regular savers it adds up! 

If it worries you that much do not make the transfers over weekends or bank holidays - simples.

And it sounds like if I set up standing orders with any bank apart from Kroo that issue will be avoided. If I do them with Kroo sometimes they'll go on a Saturday and lose 2 days interest 

AndyTh_2

s71hj said:

retiredbanker1 said:

s71hj said:

retiredbanker1 said:

And the amount of interest  lost is so miniscule its not worth worrying about.

When you're transferring £15000 a month to regular savers it adds up! 

If it worries you that much do not make the transfers over weekends or bank holidays - simples.

And it sounds like if I set up standing orders with any bank apart from Kroo that issue will be avoided. If I do them with Kroo sometimes they'll go on a Saturday and lose 2 days interest 

Chase is another so not just any bank apart from them. Also a lot of places start earning on weekend as well, just not incumbent banks who have ancient backends and a lot of building societies with less budget

retiredbanker1

If you transfer £400 to a saver paying 6.5% - 2 days interest is 1.5 pence.
If the interest rate you get is lower then the loss is also lower.

Not even worth my while typing this LOL

steven141

Has anyone had a strange issue with Kroo that their card is declined on flights but it works fine everywhere else?

WillPS

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.

Standing orders are just scheduled Faster Payments nowadays. All high street banks are able to process Faster Payments either immediately or in the case of Co-op Bank within a few mins, 24 x 7 x 365, fraud checks/downtime notwithstanding.

s71hj

WillPS said:

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.

Standing orders are just scheduled Faster Payments nowadays. All high street banks are able to process Faster Payments either immediately or in the case of Co-op Bank within a few mins, 24 x 7 x 365, fraud checks/downtime notwithstanding.

My scheduled standing orders with Santander only go out on working days so if its a weekend go the following Monday