Possible ‘loophole’ to double your interest?

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  • karlie88
    karlie88 Posts: 9,114 Forumite
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    Always useful to highlight loopholes - there are lots of them out there in the banking world and the majority I've learned from MSE forums.

    I'm not going to publicise any (so no PMs please) - some are no longer available but existing customers still have access/make use of them. There are some which I've never seen mentioned on MSE and currently active - I'd like to think I'm not the only one who's aware of them.

    What I will say is that these glitches/loopholes are mentioned quite openly on these forums from time-to-time, some are not so obvious and you have to read between the lines.

    There are also certain MSE users that are more aware of these issues - hence I pay more attention to their posts.

    It takes time and patience though - you have to visit these forums on a daily basis to be aware of them. And when the opportunity arises, you go as far as you feel comfortable with...which in my case it quite far.
    :grouphug: :D Official MSE canny forumite and HUKD VIP badge member :D :grouphug:
  • soulsaver
    soulsaver Posts: 5,969 Forumite
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    deadendwaterfall wrote: »
    I think I could navigate spaghetti junction quicker than I could make sense of your loophole explanation. :eek:

    I think your admission is commendable.
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  • NoviceAngel
    NoviceAngel Posts: 2,271 Forumite
    edited 18 October 2018 at 11:14AM
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    karlie88 wrote: »

    ......It takes time and patience though - you have to visit these forums on a daily basis to be aware of them. And when the opportunity arises, you go as far as you feel comfortable with...which in my case it quite far.

    Since I originally posted this - but still accepting it was already known on here, it does raise a slight moral dilemma in so far as ‘is it acceptable to play the system like this?’

    I’m not sure I have the answer and to be fair I don’t think there is one, as you say you go as far as you feel comfortable.

    Saying that I think it’s clever, doesn’t brake any rules, but will annoy the hell out of the banks and give you a little extra cash.

    Good luck to those that have the time and inclination to give it ago! But please don’t blame me if you upset the banks and they freeze your account!
    After reading PtL Vaubans Guide , please don't desert us, hang around and help others!

    Hi, we’ve had to remove part of your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • pinkdalek
    pinkdalek Posts: 1,355 Forumite
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    Honestly........I've got a life and there are much more important things to do with it than this.
  • colsten
    colsten Posts: 17,597 Forumite
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    What I like best about "let's beat banks at their own game" loophole exploitation idea is that it's published on an open Forum that is known throughout not only the Public but also the Financial Services industry as the go-to place for financial hints and tips. Baldrick would call it a cunning plan.
  • polymaff
    polymaff Posts: 3,904 Forumite
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    edited 18 October 2018 at 3:29PM
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    NoviceAngel wrote: »
    Since I originally posted this - but still accepting it was already known on here, it does raise a slight moral dilemma in so far as ‘is it acceptable to play the system like this?

    Gosh - that is just about ALL that MSE is about.

    Leave your morals outside the front door when you enter the house of MSE :)

    Money Shenanigans Extraordinaire
  • NoviceAngel
    NoviceAngel Posts: 2,271 Forumite
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    polymaff wrote: »
    Gosh - that is just about ALL that MSE is about.

    Leave your morals outside the front door when you enter the house of MSE :)

    Money Shenanigans Extraordinaire

    Lol, somehow I can’t image Martin recommending this to everyone but I guess even he might faster payment a few quid and then some every now and then to double up! Who knows
    After reading PtL Vaubans Guide , please don't desert us, hang around and help others!

    Hi, we’ve had to remove part of your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • soulsaver
    soulsaver Posts: 5,969 Forumite
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    How does one find what time the end of day routine is run for each bank?
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  • NoviceAngel
    NoviceAngel Posts: 2,271 Forumite
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    soulsaver wrote: »
    How does one find what time the end of day routine is run for each bank?

    There may well be a better way others will say but the way I spotted it was transactions for the following day appearing the day before such as Bank Giro Credits, SOs or DDs hitting the account the day before they are due. You need a busy account for that to happen or take a punt and do a small test transaction say a FP to another account and see what the date is marked against it.
    After reading PtL Vaubans Guide , please don't desert us, hang around and help others!

    Hi, we’ve had to remove part of your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • colsten
    colsten Posts: 17,597 Forumite
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    NoviceAngel wrote: »
    Lol, somehow I can’t image Martin recommending this to everyone but I guess even he might faster payment a few quid and then some every now and then to double up! Who knows
    Yeah, that's what multi-millionaires do.
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