FD everyday e-saver sweep

weezie_2

Does anyone use the sweep facility with First Direct to move money into an everyday e-saver? I've recently got the 1st account up & running, but I haven't set up the sweep 'cos I'm not sure how easy it is to get the money back out again.

I was wondering about setting up a mid-month SO to the e-saver & a sweep for anything surplus left pre-payday. But the interest rate isn't great for the e-saver, so I'd want to move any significant sums out into a higher interest savings account when I get time.

Can you move money directly from the e-saver to external accounts, or does it need to return to the 1st account first?
Are transfers back to the 1st account instantaneous or do you have to wait a few days?

(basically trying to find a way of earning interest on my current account money, but FD have been pretty good, so I'm currently tempted to stay with the account long term)

Factor25

Hi, just getting my 1st a/c up and running and although I probably wont do the sweep, FD internal transfers are instant. Transferring to 1st a/c from external accounts depends on which bank for instance Sainsburys bank took longer than Abbey. I tested these transactions with £1 to get an idea. Im impressed so far as well, I posted a cheque off to FD using their pre paid envelope on Thurs and its shown up in my 1st a/c this morning.

SuiDreams

I transfer all my money into the esaver, then transfer money back in day before DD's and Standing Orders come out. I try and keep 1st account balance as low as possible as you don't ear any interest on it.