Banking Day

[Mary Howarth]

I opened a bank account at Finans on Monday but didn't deposit any money in as the queue was long and i had another appointment. Does this mean i have to wait to put money in until the 12th April can anyone help. Thank you. Mary

[LeeGlo]

Hi Mary, the account you have opened will be a current account, you can put money into that any time you like, it is only a time deposit account that you can't change until the maturity date without losing the interest. When you put some money in, ask them about opening a time deposit account then or if you set up internet access to your account you can open one online yourself.

[Mary Howarth]

Hi they actualy opened two accounts for me a Sterling and a Lira which i think is monthly so can i take it that i can still go into the bank anytime and deposit money i'm not sure what a time deposit account is!! sorry for appearing to be a bit what can i say numb!!

[tinkerman]

You can put money in anytime but you can only withdraw on your anniversary date every month.

[Mary Howarth]

Thank you for your help i shall now deposit money in next week but certainly not Monday its seems to be a busy day thank you Leeglo and Tinkerman much appreciated. Mary

[marjo]

Hi Mary avoid the bank any Monday or Friday as these are the busiest days of the week! Unless your date to withdraw money happens to fall on one of these days & then you will just have to grin & bear it!

[LeeGlo]

You can avoid the hassle of "high interest day" altogether, just have the interest paid to your current account each month, get a debit card and you can withdraw from the bank's ATM's any time.

[Mary Howarth]

Thanks for that info Marjo i certainly won't go on those days, I will look into that next week Leeglo would make life much easier thanks very much for that. Mary

[LeeGlo]

Hi Mary, sorry I forgot to answer your other question. A time deposit account is a high interest account where you leave the money for a set number of days, months whatever you want. These accounts are currently paying around 10% interest, less 15% tax. You can elect to have the interest transferred to your current a/c on each maturity date. i.e a monthly income. Or you can add the interest to your capital to accrue more interest the following month.

[Supacabby]

Also avoid the 25th of each month, that's pension day!