1 penny direct debits?

maxppp
maxppp Posts: 7 Forumite
in Budgeting & bank accounts
Hi,

I bank with Halifax, and have just realised I haven't been receiving the monthly £5 perk for a few months. After checking their terms, they require two monthly direct debits, for which I only have one.

Is anyone aware of somewhere I can create a small direct debit (i.e. 1 pence per month) to fulfill this requirement?

Thanks
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Comments

  • dr_adidas01
    dr_adidas01 Posts: 2,136 Forumite
    Photogenic Name Dropper First Anniversary Combo Breaker
    maxppp wrote: »
    Hi,

    I bank with Halifax, and have just realised I haven't been receiving the monthly £5 perk for a few months. After checking their terms, they require two monthly direct debits, for which I only have one.

    Is anyone aware of somewhere I can create a small direct debit (i.e. 1 pence per month) to fulfill this requirement?

    Thanks

    Seriously for £0.01 it cost the average organisation about £0.30p to set a direct debit up!!!
    Time is a path from the past to the future and back again. The present is the crossroads of both. :cool:
  • pmduk
    pmduk Posts: 10,655 Forumite
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    I suspect you'll have problems finding a company to take such a small amount. Their bank will charge more than that to process a DD
  • HappyMJ
    HappyMJ Posts: 21,115 Forumite
    Combo Breaker First Post
    Set up one for a few pounds per month to a charity and you keep the difference...until you can find another direct debit.

    You can set up a savings account with a company like Tesco bank then send the money back if you can't afford to leave the money there each month.
    :footie:
    :p Regular savers earn 6% interest (HSBC, First Direct, M&S) :p Loans cost 2.9% per year (Nationwide) = FREE money. :p
  • imoneyop
    imoneyop Posts: 970 Forumite
    How about a small regular charity donation? The Red Cross (picked at random as the first charity to came into my head) don't seem to set a minimum on the first page of their online DD set up.

    Even if you donated £1 a month you'd still be making a £4 profit from Halifax for doing nothing.
  • Gordon_the_Moron
    Gordon_the_Moron Posts: 1,472 Forumite
    First Anniversary Combo Breaker First Post
    Some savings accounts allow you to pay in by direct debit, if you immediately paid the money straight back it wouldn't matter how much the DD was for.
    If you don't like what I say slap me around with a large trout and PM me to tell me why.

    If you do like it please hit the thanks button.
  • eskbanker
    eskbanker Posts: 30,920 Forumite
    First Anniversary Name Dropper Photogenic First Post
    Gordon_the_Moron wrote: »
    Some savings accounts allow you to pay in by direct debit, if you immediately paid the money straight back it wouldn't matter how much the DD was for.

    See http://forums.moneysavingexpert.com/showthread.php?t=4168667 for further details....
  • Atidi
    Atidi Posts: 943 Forumite
    maxppp wrote: »
    Hi,

    I bank with Halifax, and have just realised I haven't been receiving the monthly £5 perk for a few months. After checking their terms, they require two monthly direct debits, for which I only have one.

    Is anyone aware of somewhere I can create a small direct debit (i.e. 1 pence per month) to fulfill this requirement?

    Thanks

    Why waste even a penny?

    This is MSE after all.

    Is there nothing else you can set up a monthly DD payment for?

    e.g. gas, electric, water, tv licence, mobile phone, broadband, insurance (lots of possibilities here), council tax, mortgage/rent, etc.

    Paying you gas and /or electric monthly by DD often saves you money.
  • brendon
    brendon Posts: 514 Forumite
    Set up a direct debit with PayPal, and use PayPal to purchase whatever you would purchase with a card normally.
  • Atidi
    Atidi Posts: 943 Forumite
    Oh yeah, most credit cards allow you to set up a DD too, even if only for the minimum payment. :)
    You may need to make sure at least something is due every month to keep the bank happy ... most major supermarkets will take credit cards. Perhaps you could apply for one or more of the cashback ones?
  • Cycrow
    Cycrow Posts: 2,639 Forumite
    If you have a moneylu payment of something that doesn't use direct debit, you could use a credit card.

    i do that with LoveFilm, they don't do direct debits so i use a credit card to pay it, and setup a direct debit to pay off the credit card.
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