Savings Account with Standing Order Facility

L

logic81

Guest
I am looking for a savings account that provides a standing order facility. I dont need any of the other facilities of a current account. Is there this type of account available?
 
Anybody know where to look, there seems to be current accounts that provide no or very little interest or savings accounts that cannot process standing orders.
 
Technically, there is no issue with a standing order being set-up to be paid from a savings account. Operationally, they are avoided as they would be rejected if there were insufficient funds to meet the payment.

While a current account could go overdrawn, even if no sanctioned overdraft were in place, a savings account can not, so anything that could give rise to this event is avoided.

If you have a good relationship with your bank, or with someone in your branch, they might help you out. Without that, I doubt you would be facilitated.
 
Why not set up a current account with a bank for this purpose. Hailfax have an account that pays 7%. There are T&C's but worth a look