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Banking question

Discussion in 'General Discussion' started by Rotty, 14 Oct 2009.

  1. Rotty

    Don

    Joined: 18 Oct 2002

    Posts: 40,720

    Location: Notts

    Just found out that due to some changes at work at end of month they won't be able to split my salary between 2 accounts as they do at moment

    A fixed amount is paid into my LLoyds TSB account every month to cover the house bills

    The rest goes into my Yorkshire bank account and pays for the cars and general spends

    I want to keep the Yorkshire one as my main account

    I was going to set a standing order up from Yorkshire to LLoyds but that may take a few days and leave that account short for some Direct Debits

    any suggestions of best way of dealing with this


    could I get Yorkshire to set me a new account up and move an amount to that ( I assume this would be immediate )

    there are loads of DDs at Lloyds though so it would be a pain to move them all

    any ideas ?
     
  2. meghatronic

    Capodecina

    Joined: 24 Nov 2002

    Posts: 16,379

    Location: 38.744281°N 104.846806°W

    I do something similar. I now get paid by cheque (!?!?!?!?) every three months (!?!?!?!?x2), so split it between bank accounts. I just have a standing order that I manually use when the cheque has cleared. The money usually hits the accounts as soon as I click confirm (presumably due to the faster payments system). I have the option to automate this on a certain date.... so should suit you?
     
  3. Rotty

    Don

    Joined: 18 Oct 2002

    Posts: 40,720

    Location: Notts

    it would appear that with my 2 banks it would not be immediate
     
  4. D1ngd0ng

    Wise Guy

    Joined: 20 Aug 2009

    Posts: 1,192

    Location: Local to someone

    Banks usually move all you DD for you when you open a new account if you fill out the right form but this can take time

    Your bank not upgraded to the quick BACS scheme yet? Know that my bank (Natwest) transfers upto £1k (could be more) in around 30mins to recipient account
     
  5. .Lethal

    Soldato

    Joined: 8 Jun 2005

    Posts: 6,932

    Location: United Kingdom

    Ring Lloyds, explain the situation.

    They can give you a tempoary overdraft (It will last 30 days then revert back to what it was) to cover the Direct Debts. If you don't have financial issues or problems with your bank Lloyds are very good at doing this.

    I did similar to this a few years ago and couldn't fault there service and understanding of the situation.
     
  6. Rotty

    Don

    Joined: 18 Oct 2002

    Posts: 40,720

    Location: Notts


    that would only be a temp solution though
     
  7. Rotty

    Don

    Joined: 18 Oct 2002

    Posts: 40,720

    Location: Notts

    checked the "faster transfer" tables and it doesn't look good, will ring tomorrow and confirm
     
  8. VoG

    Soldato

    Joined: 20 Jan 2004

    Posts: 5,790

    Location: Nottingham

    i'm with Yorkshire as well, if you bank online why not just one off BT tonight to cover any short fall then set up a monthly BT while your about it. Yorkshire BT's are damn quick from my own experience.
     
  9. .Lethal

    Soldato

    Joined: 8 Jun 2005

    Posts: 6,932

    Location: United Kingdom

    Surely enough time to setup a standing order to transfer the money for next months salary.

    A standing order only takes a few days to setup, which is why I suggested a tempoary solution to ensure DD's are paid this month.
     
  10. Rotty

    Don

    Joined: 18 Oct 2002

    Posts: 40,720

    Location: Notts

    no hurry for this month, normal transfer takes 3-4 days to LLoyds
     
  11. meghatronic

    Capodecina

    Joined: 24 Nov 2002

    Posts: 16,379

    Location: 38.744281°N 104.846806°W

  12. Rotty

    Don

    Joined: 18 Oct 2002

    Posts: 40,720

    Location: Notts

    that says the receiving account can so maybe more investigation needed
     
  13. Rotty

    Don

    Joined: 18 Oct 2002

    Posts: 40,720

    Location: Notts

    will try a test transfer in morning and see what happens :)