£1 DDs to Charities
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Just use Tesco Instant access and Tesco internet saver accounts to create direct dds to your accounts.
I have done this loads of times and always works.
HTHs.
Don't know what I did to annoy them but the last couple of times I've tried Tesco they have requested 3 months hard copy statements of the current account to be credited, which is a little difficult when playing on the switching merry-go-round!Ethical moneysaver0 -
realaledrinker wrote: »Don't know what I did to annoy them but the last couple of times I've tried Tesco they have requested 3 months hard copy statements of the current account to be credited, which is a little difficult when playing on the switching merry-go-round!
Not sure what you r doing. For me, I just create a N/wide account and use my tesco accounts to create the appropriate number of dds on my N/wide account. I then just transfer my N/wide account to my new bank account and hey presto......a few weeks later I get a transfer bonus.
Please explain what info Tesco are asking you to provide ?0 -
Can someone actually give any evidence that it costs the charity more? This is presented as a fact pretty much every time this subject is raised, yet GoCardless - a DD processor mentioned in this thread - charge 20p for a £1 DD (and used to be as little as 1p).I think most are thinking more about their interest than a charity, or they would be willing to give more than £1 (or £2) per month, which costs the charity more than a one off donation.0 -
There have been a number of current account changes, probably to discourage the use of these accounts for savings and I wouldn't be surprised if the next move was to put a minimum spend on direct debits, to stop these meaningless trivial payments being used to satisfy the current rules.
Unfortuantely I think the more likely thing to happen will be for the charities to increase their minimum contribution by DD to stop people 'abusing' the system.
I say unfortunately because it will mean people genuinely wanting to donate a small amount to a charity each month will either have to donate more, or else stop making DD donations if they can't afford it.
There are other ways of getting the number of DD's you need, people should either donate a reasonable amount to the charity, or else use one of the other options."In the future, everyone will be rich for 15 minutes"0 -
If charities increase their minimum contribution, that would logically be on the basis that it's not bringing them in money - otherwise why stop people doing it?Unfortuantely I think the more likely thing to happen will be for the charities to increase their minimum contribution by DD to stop people 'abusing' the system.
I say unfortunately because it will mean people genuinely wanting to donate a small amount to a charity each month will either have to donate more, or else stop making DD donations if they can't afford it.
There are other ways of getting the number of DD's you need, people should either donate a reasonable amount to the charity, or else use one of the other options.
As per my previous post, if just anybody can get a single £1 DD processed for 20p (previously 1p), why would a charity be incurring more than that, if not paying substantially less?0 -
If charities increase their minimum contribution, that would logically be on the basis that it's not bringing them in money - otherwise why stop people doing it?
Because you are assuming that the transaction fee is the only cost to the charity of administering a direct debit donation and that the charity is able or willing to use the lowest cost service provider.As per my previous post, if just anybody can get a single £1 DD processed for 20p (previously 1p), why would a charity be incurring more than that, if not paying substantially less?
Because you are assuming that the transaction fee is the only cost to the charity of administering a direct debit donation and that the charity is able or willing to use the lowest cost service provider."In the future, everyone will be rich for 15 minutes"0 -
Which is why I asked for evidence, of which none has been presented. You also equated my single example to being the "lowest cost service provider" - who said they were? It was an example of a service which is open to the general public at a level that lets an individual create their own DD's with their own schedule, whereas you'd expect other services doing tens of thousands of payments with consistent details to cost significantly less and be highly automated.Because you are assuming that the transaction fee is the only cost to the charity of administering a direct debit donation and that the charity is able or willing to use the lowest cost service provider.
It would also appear to be sensible to assume that any ongoing other administration costs are minimal for ongoing DD's.0 -
Gift Aid has been forgotten in this discussion. That would perhaps covered costs.
I would have thought that a £1 donation with total costs of less that would be worthwhile. A lot of small donations better than none - but not as good as a lot of larger donations.
Charities pay large commissions to fund raising companies and for advertising so it is not the case that larger sums come free of costs.
One just has to trust that charities choose whatever works best for them.0 -
I have tried to Google, but it is surprisingly hard to find out how much it costs a company/charity to process a DD. I found one hit which seemed to suggest it was around 50-60p but that was a few years ago. I would imagine the cost less that £1, so if you set up a DD for this amount the charity would get something, but that is just a guess.0
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