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Can you setup a SO to work on last Friday etc?

  • 28-08-2008 10:31pm
    #1
    Random
    Closed Accounts Posts: 19,080 ✭✭✭✭


    You can setup a standing order on the 2nd of a month etc.
    - this is setup as an instruction to the bank to send money to xyz on a certain date each month.

    Various organisations seem able to setup a direct debit to come out on the first Monday of a month.
    - this tells the bank to let a company take what it wants when it wants

    Please correct me if my above information is wrong.

    I'm looking to setup an automated transfer each month on the last Friday of the money to another bank account. Is this possible by SO or DD?

    Thanks


Comments

  • #2
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    Nope. A S/O works on the basis that it's for the same date every month / quarter / year or on a seven day cycle (i.e every friday).

    Banks don't setup D/D for personal customers unless there's a specific business purpose (i.e paying your ESB).


  • #3
    Random
    Closed Accounts Posts: 19,080 ✭✭✭✭Random


    Basically I want to transfer money on the last Friday of every month (payday!) to another account. I need a way to do this. I know AIB online lets me do it manually but hoping to automate it.


  • #4
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    Random wrote: »
    Basically I want to transfer money on the last Friday of every month (payday!) to another account. I need a way to do this. I know AIB online lets me do it manually but hoping to automate it.

    There's no way to do this except manually. Anyhow why bother transferring the money on a friday? You loose the credit interest and it won't get there until tuesday. Do it on the monday before 1pm and it will arive on tuesday anyhow.


  • #5
    Random
    Closed Accounts Posts: 19,080 ✭✭✭✭Random


    stepbar wrote: »
    There's no way to do this except manually. Anyhow why bother transferring the money on a friday? You loose the credit interest and it won't get there until tuesday. Do it on the monday before 1pm and it will arive on tuesday anyhow.
    I get paid on the last Friday. I want to make sure the money (x amount to various accounts) is transferred away as soon as I get it into my account.


  • #6
    unclebill98
    Registered Users, Registered Users 2 Posts: 3,816 ✭✭✭unclebill98


    Stepbar is correct on this one.


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  • #7
    Show_me_Safety
    Closed Accounts Posts: 280 ✭✭Show_me_Safety


    it can't be done afaik, and even if it could be, debits come before credits- so, if it was automated the S/O will be called for before your wages come in and if you have insufficient funds you may be charged! i think you are best off doing it on the monday morning.

    sms


  • #8
    Random
    Closed Accounts Posts: 19,080 ✭✭✭✭Random


    I'd have the problem then anyway, i'd need to set it for the first monday of the month . . .


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