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  • FIRST POST
    • waqasahmed
    • By waqasahmed 1st Dec 14, 8:28 PM
    • 1,008Posts
    • 282Thanks
    waqasahmed
    Savings accounts deposits by Direct Debit? UPDATED
    • #1
    • 1st Dec 14, 8:28 PM
    Savings accounts deposits by Direct Debit? UPDATED 1st Dec 14 at 8:28 PM
    This is basically a continuation of the thread here:

    http://forums.moneysavingexpert.com/showthread.php?t=4168667

    BUT Im happy to update it, if people notice a change, and then send me a PM

    ^ Thanks to the original poster, of the original thread - this is just a continuation)

    Any way:

    --------------------------------------------------------------------
    List of savings accounts providers that allow, and don't allow, deposits by Direct Debit (as opposed to by SOs, debit cards etc etc).

    Please add a reply if you have anything additional to report, or if you spot something incorrect. I will update this post as appropriate so we got the list all in one place.

    Providers with Direct Debit feed:
    • Aldermore (by posting filled-in form, printed from site)
    • AA (1st deposit by cheque) -minimum £1000 to open account (can fall below that later though, with lower interest)
    • Egg (Yorkshire BS; allowing multiple DDs on same account) - no longer available for new customers.
    • BM Savings (existing accounts only)
    • Britannia BS - no longer exists for new customers
    • First Save - no longer allows direct debits
    • ICICI
    • Intelligent Finance - no longer allows direct debits
    • Monmouthshire Building Society (must use paper forms) - - no longer allows direct debits
    • Nationwide Mysave (1 DD only) - Looks like for existing customers only.
    • Saga (if you are 50+; 1st deposit by cheque)
    • Scottish Widows
    • TESCO Bank (multiple DDs allowed, on both, their Internet Saver and their Instant Access Saver)
    • West Bromwich BS (selected accounts)
    • YBS offset savings if you have a mortgage there (allows multiple DDs)

    Minimum opening deposits apply in some cases.

    Offshore banks, such as Nationwide International, might allow DDs - - but beware, they have no FSCS protection.

    ZOPA, Paypal, Charities, National Lottery: not exactly savings accounts, but they allow Direct Debits. Also Ratesetter (http://www.ratesetter.com/blog/Regular_Lender_Blog.htm)

    See below for a list of charities accepting low-value DDs. More charities via http://www.justgiving.com/

    If you have regular investments with firms like H&L or Investdirect, you might be able to set up Direct Debits with them.


    Savings providers with no Direct Debit feed
    :
    - most high street banks
    - Barclays savings accounts
    - Barnsley BS
    - Cambridge BS
    - Chelsea BS
    - Coventry
    - Derbyshire
    - KRBS
    - LLoyds savings accounts
    - M&S Savings
    - N&P
    - National Counties
    - Northern Rock
    - Nottingham Building Society
    - Principality
    - Saffron BS
    - Sainsbury's Bank
    - Skipton
    - Yorkshire BS (except for old Egg accounts, it seems)


    Some charities that accept £1 (or less) DDs:
    (don't forget to tick Gift-Aid if you are a tax payer. Also, all companies pay about 50p to £1 per DD transaction, so please don't be mean!)
    https://www2.amnesty.org.uk/giving/donate/give-monthly

    http://www.unicef.org.uk/Donate/give-monthly/

    http://www.redcross.org.uk/Donate-No...Giving-Appeals (Min £2 - takes 10-15 days to set up)

    http://england.shelter.org.uk/donate

    http://www.oxfam.org.uk/donate

    https://donations.rspca.org.uk/directdebit.aspx

    http://www.wateraid.org/uk/

    http://www.christian.org.uk/support/index.htm (1p min)

    http://www.cancerresearchuk.org/

    https://www.payaquid.co.uk/

    Politics:
    https://www.edirectdebit.com/conservativeparty/step-1.aspx (min £1)

    http://www.womensaid.org.uk/page.asp...tle=Donate+now (min £3)
    Last edited by waqasahmed; 15-04-2017 at 11:01 PM. Reason: Update.
Page 18
    • Zanderman
    • By Zanderman 5th Sep 17, 11:19 PM
    • 1,230 Posts
    • 3,621 Thanks
    Zanderman
    I've just setup a post office internet saver to fulfill a few DDs and I'm trying to add a second nominated account to generate a secondary DD - anyone know if this is possible or is it just 1x DD per post office internet saver? Thanks in advance.
    Originally posted by gdreyer
    I doubt it. I think the PO, like the vast majority of savings acounts that allow pay-ins by DDs (and those are diminishing rapidly) only allow 1 DD per account.

    You could, of course, just set up another PO internet saver, if they will let you do that.
    • gdreyer
    • By gdreyer 6th Sep 17, 8:00 AM
    • 8 Posts
    • 1 Thanks
    gdreyer
    I doubt it. I think the PO, like the vast majority of savings acounts that allow pay-ins by DDs (and those are diminishing rapidly) only allow 1 DD per account.

    You could, of course, just set up another PO internet saver, if they will let you do that.
    Originally posted by Zanderman
    Thought so, thanks for confirming!
    • colsten
    • By colsten 6th Sep 17, 8:06 AM
    • 8,717 Posts
    • 7,369 Thanks
    colsten
    You could, of course, just set up another PO internet saver, if they will let you do that.
    Originally posted by Zanderman
    I seem to remember that the 1 nominated account from which you can pull money by DD applies to all the savings accounts. So multiple PO savings accounts won't help.
    • pmjenkins
    • By pmjenkins 6th Sep 17, 2:08 PM
    • 96 Posts
    • 31 Thanks
    pmjenkins
    I seem to remember that the 1 nominated account from which you can pull money by DD applies to all the savings accounts. So multiple PO savings accounts won't help.
    Originally posted by colsten
    I'm afraid you're wrong. I have several PO accounts (even two of the same issue) all with different nominated bank accounts.
    • Vortigern
    • By Vortigern 6th Sep 17, 6:49 PM
    • 2,250 Posts
    • 1,459 Thanks
    Vortigern
    Originally posted by NoodleDoodleMan
    I believe the above form is intended to set up a DD to pull cash into a Tesco savings account from a current account held elsewhere.

    I doubt they would allow you to pull money into a Tesco current account from elsewhere but you're welcome to try.

    Let us know how you get on.
    • NoodleDoodleMan
    • By NoodleDoodleMan 8th Sep 17, 2:54 PM
    • 60 Posts
    • 10 Thanks
    NoodleDoodleMan
    How does that help? A DD needs to be pulled by an institution of some sort - and they will have online forms of their own. A form by itself does nothing unless there is a mechanism to pull the DD
    I don't know if a Tesco current account can be funded by DDs or not.

    If they can, then that official Tesco Bank mandate form indicated may well do it ?

    There's nothing on it, as far as I can see, that states it's only for savings accounts only.
    • ColdIron
    • By ColdIron 8th Sep 17, 3:21 PM
    • 3,374 Posts
    • 3,947 Thanks
    ColdIron
    I don't know if a Tesco current account can be funded by DDs or not
    Originally posted by NoodleDoodleMan
    They can't, hope that helps
    • soulsaver
    • By soulsaver 8th Sep 17, 5:14 PM
    • 1,342 Posts
    • 448 Thanks
    soulsaver
    http://www.tescobank.com/assets/sections/onlinebanking/pdf/online_savings_ddi.pdf

    There's nothing on it, as far as I can see, that states it's only for savings accounts only.
    Originally posted by NoodleDoodleMan
    Clue in the link "... online_savings_ddi"
    There are 24 bottles of beer in a crate. There are 24 hours in a day. Coincidence? I think not....
    • NoodleDoodleMan
    • By NoodleDoodleMan 9th Sep 17, 9:51 AM
    • 60 Posts
    • 10 Thanks
    NoodleDoodleMan
    Cheers.

    I didn't think it was possible - now confirmed.
    • Merlin's Beard
    • By Merlin's Beard 9th Sep 17, 5:01 PM
    • 94 Posts
    • 479 Thanks
    Merlin's Beard
    Would a charity accept a DD then decide it wasn't enough to take?

    6x DDs (all £1) set up for 3x Vantage accounts last month - the DDs are showing on the accounts, but no money has been taken yet (3x Cancer Research were due on the 5th, 3x PDSA which I thought were due early in the month)
    Grocery Challenge June 17 onward; aim: £100/month; leftovers to date: £5.81
    • Consumerist
    • By Consumerist 9th Sep 17, 5:18 PM
    • 4,621 Posts
    • 2,298 Thanks
    Consumerist
    Would a charity accept a DD then decide it wasn't enough to take?

    6x DDs (all £1) set up for 3x Vantage accounts last month - the DDs are showing on the accounts, but no money has been taken yet (3x Cancer Research were due on the 5th, 3x PDSA which I thought were due early in the month)
    Originally posted by Merlin's Beard
    They take a couple of weeks to set up so you might have missed any set up for collection early this month. If that's the case it might be next month before they are called again.
    Last edited by Consumerist; 09-09-2017 at 5:20 PM.
    Warning: In the kingdom of the blind, the one-eyed man is king.
    • Merlin's Beard
    • By Merlin's Beard 9th Sep 17, 6:16 PM
    • 94 Posts
    • 479 Thanks
    Merlin's Beard
    They take a couple of weeks to set up so you might have missed any set up for collection early this month. If that's the case it might be next month before they are called again.
    Originally posted by Consumerist
    It's been 4-5 weeks (set up 7th August) so they should have processed then.
    Grocery Challenge June 17 onward; aim: £100/month; leftovers to date: £5.81
    • Consumerist
    • By Consumerist 9th Sep 17, 6:24 PM
    • 4,621 Posts
    • 2,298 Thanks
    Consumerist
    It's been 4-5 weeks (set up 7th August) so they should have processed then.
    Originally posted by Merlin's Beard
    I agree.

    I can only suggest you contact the charities involved - perhaps it's not worth their while to collect £1.00 DDs.

    Have you considered Tesco's Online Saver accounts?
    Warning: In the kingdom of the blind, the one-eyed man is king.
    • colsten
    • By colsten 9th Sep 17, 7:52 PM
    • 8,717 Posts
    • 7,369 Thanks
    colsten
    I'm afraid you're wrong. I have several PO accounts (even two of the same issue) all with different nominated bank accounts.
    Originally posted by pmjenkins
    You might be right there, it's such a long time since I ditched my PO accounts. There was definitely some restrictions though - perhaps it was that you can only have 1 nominated account per OP account, i.e. you are effectively limited to one DD per account. In other words, if you need a dozen DDs, you needed a dozen PO accounts.
    • Merlin's Beard
    • By Merlin's Beard 12th Sep 17, 12:22 PM
    • 94 Posts
    • 479 Thanks
    Merlin's Beard
    I agree.

    I can only suggest you contact the charities involved - perhaps it's not worth their while to collect £1.00 DDs.

    Have you considered Tesco's Online Saver accounts?
    Originally posted by Consumerist
    Have set up the Tesco online saver account and set up a direct debit per account - and then, ironically, the PDSA pulled £1 from one of the accounts this morning so hopefully the other two will follow. Cancer Research still MIA.

    Will wait and see what happens but hopefully two DDs will go from each account to somewhere this month and I'll get my interest!

    Many thanks for the help.
    Grocery Challenge June 17 onward; aim: £100/month; leftovers to date: £5.81
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