Looking for an account to deposit lump sum and have weekly SO taken from thereafter?

D

Don_08

Registered User
Messages
329
As it says!!


Dh is getting a lump sum redundancy payment and we just want an account to put in 12/24 months worth of maintanence payments for his daughter - that we can set up a standing order from there to her mother's account.

Ideally one that pays a bit of interest.

Would just like to keep it seperate from the rest of our outgoings given he may not be working again for some time
 
brianb said:
The Deposits forum has a best buys thread, with one thread in particular - lump sum deposits which I think answers this.
Click to expand...

This requires a bit of thinking along with the best buys lump sum deposits thread,
many of those accounts have restrictions on withdrawls (no interest in month of withdrawl, no more that 6 withdrawls a year, no more than 2 withdrawls, or indeed no withdrawls etc etc)
I am not sure any of those accounts allow for standing order withdrawls.

All that siad OP, I don't have an ultimate solution for you; if you want monthly standing orders then you might just have to get a bog standard deposit account which unfortunately wont pay a huge rate of interest.

I suppose with the AIB Premium demand account (old anglo account) you could ring to do a transfer every month and you would have the money in designated account in couple of days, you would have to do the call every month though as they don't do standing orders.
 

You will most likely need to open a current account for this purpose.

You could manualy transfer the money from a savings account to a current account as and when required.
 
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