GIRO deduction timings?

[revhappy]

Does anybody know what is the actual time in the day when the GIRO amount gets deducted from our account?

For example for IRAS we know 6th is the GIRO deduction date, so should I make sure I have the funds as of 5th or can I keep the funds on 6th? If the actual deduction is on 6th,lets say 10AM, I dont want to play it safe and keep the funds on 5th itself and lose 1 day of interest. Instead I want to do FAST transfer sometime early in the day on 6th.

 

[polyglob]

Used to be mainframe batch runs in the night. Nowadays dunno, maybe the banks all migrated to agile responsive digital just-in-time whatever. But most likely still the same.

I'd recommend against doing what you're suggesting. Even if you have it all figured out, one of these days you will miss the transfer cut off. Happens enough in banks themselves with entire ops departments.

Does anybody know what is the actual time in the day when the GIRO amount gets deducted from our account?

For example for IRAS we know 6th is the GIRO deduction date, so should I make sure I have the funds as of 5th or can I keep the funds on 6th? If the actual deduction is on 6th,lets say 10AM, I dont want to play it safe and keep the funds on 5th itself and lose 1 day of interest. Instead I want to do FAST transfer sometime early in the day on 6th.