Is it possible to make a normal transfer to a regular saver?

augusto

Hi MSs!

I´m quite new to the english banking system and I was wondering if it´s possible to make normal transfers to a regular savers account (one per month, of course).
I´m asking this because my company (god bless them :mad:) sometimes pay me on the 4th day of the month... sometimes on the 12th.

I don´t know if the banks (halifax and barclays in my case) have a way to determine if the transfer came for a standing order or just from a normal transfer.


Thanks for all the fish!
Augusto

LucyTheDwarf

They generally say by SO, but you can normally make a BACS transfer in too, so long as it doesn't exceed the maximum allowed in per month.

Why not set up a SO for the minimum amount, and pay in any extra by BACS? Or set up a standing order a bit later in the month, say the 15th - though you will lose out on a few days interest, as the money will be in there less time.

To be honest, so long as the account is funded with at least the minimum stated each month, I can't see them kicking up a fuss. Why not pop into a branch? Which regular saver are you looking at in particular? I use bank transfers to the HSBC Regular saver and the Halifax reg saver.


PS: re your signature: what's your purpose? (I'm nosy)

LittleVoice

Not all regular saver accounts allow more than one payment a month, so you need to check whether that is an option.

Not all request a SO at all - eg Skipton, where you can make payments by cheque or cash in a branch as well as via BACS and SO and as many as you like as long as you don't exceed the maximum monthly sum of £250 for each account.

CLAPTON

there is really no diffference between a standing order and a BACS transfer... so yes there is no reason why you can't simply send the money when you are ready.

augusto

Thanks for the replies!:beer: