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Savings accounts deposits by Direct Debit?
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Is Tesco the only provider of a savings account where you can set up multiple DD's to fulfil the requirements of Halifax Reward and other such current accounts?
I'm after converting one of my Lloyds Vantage Classic Current Accounts to Club Lloyds, but I want to set up a couple of direct debits before I do so (so as to avoid potential 0% interest for a month).
If anyone knows, this information would be most appreciated.
Thanks in advance.0 -
Santander consolidated all their previous eSaver issues to one Everyday Saver account a few months ago. Now new eSaver issues state that they will automatically be switched to an Everyday Saver after the bonus is over.For this flippin' DD. I was sure my Santander account was an esaver but when I logged on to my accounts the other day it states Everyday Saver. I checked what I'd opened it as back in 2012 and it was an esaver issue 5(when the interest rate was 3.20% AER), so when the hell did it get changed over to an Everyday Saver? Did it do this automatically when the bonus dropped off the esaver issue 5 back in June 2013? I only kept the account open as I use it for the Halifax DD's to get the rewards. But none of Santander's DD's seem to mention the Everyday Saver, my DD's were set up on the account when it was an esaver. I don't understand what's happened with it.0 -
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I was going to use the dd form for which there's a link in this thread, but the only options to select on that are esaver, cash ISA and flexible saver. As each of these has a specific number against it, I don't know how successful I'd be in crossing them all out and just writing in everyday saver without their relevant ref no. I could always just open an esaver with Santander, but I don't really want to open another account just for this, reluctantly, it looks like it might be my only option.
I have an Everyday Saver and just opened an eSaver online, took 2 minutes. The potential problem is that the numbers next to the box for "eSaver" on the form starts with 8, and my sort code for my eSaver is the same as my 123 account, so 09....
Don't know if that's going to make a difference.0 -
Santander consolidated all their previous eSaver issues to one Everyday Saver account a few months ago. Now new eSaver issues state that they will automatically be switched to an Everyday Saver after the bonus is over.
I may well be wrong but I think the Esavers have always converted to the Everyday Saver after the first year's bonus is up. Certainly that's what happened to my Esaver 5 and is about to happen to my Esaver 11.
You could always set up 3 x DD to fund the Esaver whilst it was in the bonus period but once the first year had passed and it had converted to an Everyday Saver, then Santander wouldn't let you set up any further DDs but any existing DDs already set up were still fine. Like many of us, I used the Esavers to fund my 4% Lloyds Vantages and then my Halifax Rewards last year whilst they were still Esavers and those DD are still all going strong but I can't now set up a new DD to my Club Lloyds because the Esaver 5 has since converted to an Everyday Saver.
@ 10_66, I think if you fill in the funding mandate form posted in the link on this thread, it should work for your Esaver 11 if you tick the Esaver box. Although the form doesn't specifically mention it, I'd enclose a printout of your Club Lloyds statement as the original funding mandate form definitely required this. Just to make things even more complicated, Santander have changed the funding mandate form at some point in the last year and it does now read as much more ISA-centric than the previous one.
I've got the Esaver 11, although it's shortly to mature, and that's still the most current issue according to Santander's website. I'm not sure if you can have two of the same issue of Esaver if you need more DDs...0 -
Many thanks to all who replied:Santander consolidated all their previous eSaver issues to one Everyday Saver account a few months ago. Now new eSaver issues state that they will automatically be switched to an Everyday Saver after the bonus is over.
Phew! Thanks for this. I didn't have anything from Santander saying they'd be doing this (unless it was in the small print when I opened the account and didn't see it.I have an Everyday Saver and just opened an eSaver online, took 2 minutes. The potential problem is that the numbers next to the box for "eSaver" on the form starts with 8, and my sort code for my eSaver is the same as my 123 account, so 09....
Don't know if that's going to make a difference.
Yes, it was the number next to the account name on the DD that was concerning me about it not working. I wasn't sure whether they were sort codes, or just a ref number for them.tipsychick wrote: »...You could always set up 3 x DD to fund the Esaver whilst it was in the bonus period but once the first year had passed and it had converted to an Everyday Saver, then Santander wouldn't let you set up any further DDs but any existing DDs already set up were still fine. Like many of us, I used the Esavers to fund my 4% Lloyds Vantages and then my Halifax Rewards last year whilst they were still Esavers and those DD are still all going strong but I can't now set up a new DD to my Club Lloyds because the Esaver 5 has since converted to an Everyday Saver.
@ 10_66, I think if you fill in the funding mandate form posted in the link on this thread, it should work for your Esaver 11 if you tick the Esaver box. Although the form doesn't specifically mention it, I'd enclose a printout of your Club Lloyds statement as the original funding mandate form definitely required this. Just to make things even more complicated, Santander have changed the funding mandate form at some point in the last year and it does now read as much more ISA-centric than the previous one.
I've got the Esaver 11, although it's shortly to mature, and that's still the most current issue according to Santander's website. I'm not sure if you can have two of the same issue of Esaver if you need more DDs...
Thank you tipsychick. It looks like I've just wasted a first class stamp then, as I posted the DD earlier tonight with the vague hope that it might work on my Everyday Saver. I'll just have to open one of their esavers then. When opened I suppose I could attempt to transfer the existing DD's from my old Everyday Saver to the new esaver, but it took several attempts for Santander to get them set up properly in the first place, so I think I'll just let sleeping dogs lie!
...........0 -
I don't know exactly when my eSaver was converted to Everyday Saver, but the monthly direct debit which used to pull £1 into this account has apparently failed this month for the first time (or else it's inexplicably late.) Does this mean that Santander has cancelled the regular funding mandate without giving me any warning?Santander consolidated all their previous eSaver issues to one Everyday Saver account a few months ago. Now new eSaver issues state that they will automatically be switched to an Everyday Saver after the bonus is over.
I can still do a manual pull, but when I tried to set up a sequence of future dated manual pulls, it wouldn't let me. I hope this was a temporary glitch.
Edited to add that the monthly payment was, in fact, late and has not been cancelled. (Phew)0 -
...Does this mean that Santander has cancelled the regular funding mandate without giving me any warning?...
I blo*dy well hope not! Mine aren't due to go out from my 3 Halifax Rewards until 11th of this month, so I'll keep a keen eye on it just in case. If they have it'll be another palaver trying to set them up under a new esaver I've got to open for my Lloyds Club. I hadn't even noticed they'd changed my esaver over to the Everyday Saver until the other day :eek:.0 -
Under the product name of my 2x eSavers it says "EVERYDAY SAVER (M)."
Both still have the 3x DD setup against them and both are still working (last pull in from Halifax/BoS was last week).0 -
As I have posted somewhere else..... and confirming previous post above, Santander have told me by phone that they are no longer doing funding mandates, but that any already set up will continue to be honoured - and mine are being.
So, has anybody RECENTLY had any success setting up a new funding mandate.....??0
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