Savings accounts deposits by Direct Debit?
Comments
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psychic_teabag wrote: »I seem to recall that tesco allow multiple linked accounts to a single savings account.
Fabulous! Yes, you can have more than one 'linked' account, and it looks as if you can pull in money from more than one account.Super spot, thank you!0 -
Some bad news if you're looking to add the 4% vantage to all your vantage accounts, the offer is limited to one vantage account only. :-(
Edit: Ignore the above, seems they have changed their minds and you can now have 3 vantage accounts at 4%0 -
Perhaps we should keep this thread "clean", discussing savings accounts allowing DDs, and discuss the vantage offer on a more specific thread (eg a new one, or http://forums.moneysavingexpert.com/showthread.php?t=4104719).0
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Slightly off topic, but it baffles me that some institutions allow Direct Debit as a means for funding a savings account, let alone the few that insist upon it.
It makes me doubt whether these institutions understand the risk they're exposing themselves to under the Direct Debit guarantee scheme
It does mean that they can offer control over both deposits and withdrawals via their user interface. Probably easier than trying to explain to customers how to push money in from a third-party site. Also, I guess it means when deposits are made, they know it's coming. Otherwise they have to match up reference numbers on payments to account numbers, which could be error-prone if they don't have an automated system in place.
Perhaps some savers like this. It does reduce the risk of money going astray since you don't have to type in sort codes and account numbers. (Well, if you type in your bank details wrong, either the transfer won't happen, or you'll pull in someone else's money. Which is better than sending your own money to the wrong place.)0 -
set up the tesco saver in under 10 mins, along with a direct debit for each of my lloyds vantage accounts.
Anyone know who else does it? I know email allows secondary direct debits, which i set up 3 of them for the vantage accounts but i am uncertain as to if i will make 2 purchases via paypal a month!
so would be great is someone knows of a DD set up like tesco saver0 -
Tesco allows you to set up a recurring (eg monthly) pull via DD, if you want the DD to show monthly activity.0
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So does the Post Office Online Saver.psychic_teabag wrote: »Tesco allows you to set up a recurring (eg monthly) pull via DD, if you want the DD to show monthly activity.
Just set up on of each to satisfy new Vantage DD requirements :j
Happy saving!0 -
These all accept direct debit deposits
ICICI Hisave
http://www.hisave.co.uk
Nationwide Mysave
http://www.nationwide.co.uk/savings/limited_access/mysaveonline/introduction.htm
Bank of Ireland Websave
https://deposits.bankofireland.co.uk/NIS/websaver/web_saver_application_details.jsp
First Save
http://www.firstsave.co.uk/
Principality Building Society
http://www.principality.co.uk/
Principality Building Society allows more than one direct debit (you need to send a cheque or faster payment to activate the direct debit , then phone them to remind them to activate it)
Kent Reliance do not accept direct debit depositsHi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
So does the Post Office Online Saver.
Just set up on of each to satisfy new Vantage DD requirements :j
Happy saving!
Could you elaborate please? What do you suggest I should do?
I have an existing PO Online Saver, with one 'nominated' account. Whilst I have been able to add several other 'nominated' accounts, they all defaulted to a PO Instant Saver/Easy Saver. I don't have one of these, and I am not able to link the additional 'nominated' accounts to my PO Online Saver.
That PO Instant Saver/Easy Saver can't be set up instantly - they log you out if you want to apply for it, and you can then fill in the application, which results in an application pack to be sent to you by post!! Funny sort of "instant" and "easy", that is! Also, they insist on £500 minimum opening deposit. And it is a miserly 2.1% AER, incl 2% bonus for 12 months. YUK.
I applied for one of these, regardless - - want to figure out how the multiple 'nominated' accounts work.0 -
The online post office saver I just applied for would accept £1 opening deposit, set up a DD for £1 a month on one vantage account. Would not allow multiples. Assuming I have to await log in details in the post (4days?) before applying for more savings accounts with them or do they allow multiple DD's.
Principality set up on a single account and would not allow multiples, had to send a FP to activate it.
Got Paypal sorted in minutes across all 3 vantage accounts, have to confirm the pence they add to each account to activate though.
Tesco could not verify me I think as sending me something in the post to sign and account not instantly opened. Does this allow multiple DDs into the savings account from the 3 vantage accounts?
Do regular monthly payments have to leave by direct debit or is it just good enough to have them set up?0
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