Switching from one savings account to another

[serotoninsid]

Is interest calculated on a daily basis or is it more efficient to move a/cs at the end of a month or a quater?

I want to move cash from a Northern Rock demand account to a Halifax Flexisaver Demand Account...

 

[Lightning]

It is calculated daily with most banks.

If you close your NR account you will get interest up to the date of closure.

 

[serotoninsid]

Thanks fungus. Thats exactly what I wanted to hear!

 

[sunrock]

It`ll take a few days for the cheque to clear.

 

[Lightning]

If you ask for a wire transfer you should get the cash quicker than by cheque.

 

[serotoninsid]

Yes, I always use electronic transfer. I don't even have a cheque book anymore.

 

[sunrock]

It`ll still take a couple of days