Switching from one savings account to another

S

serotoninsid

Registered User

Messages

1,754

• 13 Aug 2009

• #1

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...

 

L

Lightning

Registered User

Messages

5,509

• 13 Aug 2009

• #2

It is calculated daily with most banks.

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

 

S

serotoninsid

Registered User

Messages

1,754

• 13 Aug 2009

• #3

Thanks fungus. Thats exactly what I wanted to hear!

 

S

sunrock

Guest

• 13 Aug 2009

• #4

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

 

L

Lightning

Registered User

Messages

5,509

• 14 Aug 2009

• #5

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

 

S

serotoninsid

Registered User

Messages

1,754

• 14 Aug 2009

• #6

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

 

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sunrock

Guest

• 15 Aug 2009

• #7

It`ll still take a couple of days