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How do I set up a multiply account?

If a standing order is set to pay £100 in to my account, how soon after than can I transfer that same £100...?

  • This is the scenario: Mr xxx account - standing order £100 1st of every month to my account, when will my account receive that payment and how soon after could I transfer that same £100 (assume I only have the £100 in the account from Mr xxx) to pay for a bill etc. eg. Mr XXX £100 to my account on 1st My account receives payment on 3rd On 4th I can then pay a DD for my car insurance for £100 I'm basically looking to find out how quickly the standing order will be processed and settled, any help would be much appreciated.

  • Answer:

    It can sometimes be faster if your standing order is with the same bank/building society

Ross uk at Yahoo! Answers Visit the source

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as soon as it comes in your account

If it was a direct debit you could use it straight away but as it is a standing order it will take two days to clear.

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