Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • FIRST POST
    • chockydavid1983
    • By chockydavid1983 27th Oct 17, 11:29 AM
    • 483Posts
    • 290Thanks
    chockydavid1983
    Savings accounts accepting DD's
    • #1
    • 27th Oct 17, 11:29 AM
    Savings accounts accepting DD's 27th Oct 17 at 11:29 AM
    Current list accepting new customers:
    Tesco (only until 04/18 for anyone)
    Scottish Widows Internet Saver Account (£10 minimum DD and £10 minimum balance)
    Post Office Online Saver (can only DD in from one nominated account, may be being withdrawn)
    Chip and Plum (app based)
    Birmingham Midshires Internet Saver Account (can only DD in from one nominated account, open with payment by cheque only, can change the linked account after)
    SAGA Telephone Easy Access Account (age 50+)
    https://www.wealthsimple.com/en-gb/ (unverified- see post #132)

    Other DD ideas:
    Paypal (reported as in the process of being removed)
    Credit cards
    Charities
    Credit Unions
    Christmas Savings (not FSCS protected)
    http://www.littledebits.org

    I will update this post with any other accounts that crop up but if you notice one that's not listed here just let me know (on the post itself or private message) and I'll update this post :-).
    Last edited by chockydavid1983; 10-11-2017 at 3:03 PM.
Page 10
    • WillBanyard
    • By WillBanyard 24th Nov 17, 12:31 PM
    • 86 Posts
    • 39 Thanks
    WillBanyard
    Scottish Widows internet saver "currently unavailable". Post Office website seems to be working though.
    • clivep
    • By clivep 24th Nov 17, 1:20 PM
    • 222 Posts
    • 96 Thanks
    clivep
    Following the Scottish Widows email on 22nd November I sent off my statement printed from my TSB online account in relation to my 1st SW Online Saver. I also enclosed the statement from my Yorkshire Bank online account for my 2nd SW Online Saver that they had yet to request from me.

    I was then surprised to get a letter asking for the verification on the 2nd a/c rather than an email. There is a material difference between these...

    Email "We can also accept online bank statements as long as they show the URL address on them".

    Letter "An internet bank statement confirming the account holder name, sort code, account number and URL address dated within the last 3 months".

    The TSB one should be fine but the Yorkshire Bank statement doesn't show the account holder name so meets the email criteria but not that of the letter.
    • Badger50
    • By Badger50 24th Nov 17, 1:44 PM
    • 20 Posts
    • 6 Thanks
    Badger50
    They at least give you a reply paid envelope when they return evidence they have found to be unacceptable to them. (They will also send a reply paid envelope if you contact them online and ask how you can change your nominated account). It only saves a stamp but this is MSE...
    • clivep
    • By clivep 24th Nov 17, 4:08 PM
    • 222 Posts
    • 96 Thanks
    clivep
    They at least give you a reply paid envelope when they return evidence they have found to be unacceptable to them. (They will also send a reply paid envelope if you contact them online and ask how you can change your nominated account). It only saves a stamp but this is MSE...
    Originally posted by Badger50
    Absolutely. I really kicked myself over the wasted stamp for my early submission now that I have received a reply paid envelope (+ a second for my wife's a/cs).
    • 10_66
    • By 10_66 25th Nov 17, 5:54 AM
    • 2,622 Posts
    • 973 Thanks
    10_66
    Scottish Widows internet saver "currently unavailable". Post Office website seems to be working though.
    Originally posted by WillBanyard
    B*gger, I've only just opened the one and was waiting for it to be fully open before opening the next! I give up
    • Kate_W
    • By Kate_W 25th Nov 17, 11:48 AM
    • 6 Posts
    • 2 Thanks
    Kate_W
    Seems like I have missed out on the second Scottish Widows account....

    Anyway , I have opened the Post Office account now,

    It asks for an initial deposit, which will be collected by DD...

    Then it lets you set up a regular deposit as well.... I decided to make this a weekly deposit...
    I hope the weekly deposit is also collected by Direct Debit... but I am not sure.??

    Will only find out in December....

    Has any one else done a regular weekly deposit in to the Post Office Account? and is it showing as being collected by Direct debits??
    • clivep
    • By clivep 25th Nov 17, 2:32 PM
    • 222 Posts
    • 96 Thanks
    clivep
    I did and yes it was collected be DD each week.
    You could also do weekly DD with SW.

    Just be aware majority of current Accounts require a different DD mandate.
    Originally posted by adindas
    Indeed. Only one PO weekly DD needed to satisfy COOP's 4 x DD payments for the £4/month.
    • Al Ross
    • By Al Ross 25th Nov 17, 3:18 PM
    • 368 Posts
    • 74 Thanks
    Al Ross
    Following the Scottish Widows email on 22nd November I sent off my statement printed from my TSB online account in relation to my 1st SW Online Saver. I also enclosed the statement from my Yorkshire Bank online account for my 2nd SW Online Saver that they had yet to request from me.

    I was then surprised to get a letter asking for the verification on the 2nd a/c rather than an email. There is a material difference between these...

    Email "We can also accept online bank statements as long as they show the URL address on them".

    Letter "An internet bank statement confirming the account holder name, sort code, account number and URL address dated within the last 3 months".

    The TSB one should be fine but the Yorkshire Bank statement doesn't show the account holder name so meets the email criteria but not that of the letter.
    Originally posted by clivep
    I emailed them back a scanned copy of my on-line statement and asked if this was acceptable. Not yet had a reply back.

    Anyone know if this is adequate?
    • Steve_xx
    • By Steve_xx 25th Nov 17, 3:19 PM
    • 6,433 Posts
    • 2,682 Thanks
    Steve_xx
    I emailed them back a scanned copy of my on-line statement and asked if this was acceptable. Not yet had a reply back.

    Anyone know if this is adequate?
    Originally posted by Al Ross
    They don't seem to reply
    • Mchambers
    • By Mchambers 25th Nov 17, 3:23 PM
    • 507 Posts
    • 154 Thanks
    Mchambers
    They don't seem to reply
    Originally posted by Steve_xx
    Then phone them and ask.
    • Steve_xx
    • By Steve_xx 25th Nov 17, 3:25 PM
    • 6,433 Posts
    • 2,682 Thanks
    Steve_xx
    Then phone them and ask.
    Originally posted by Mchambers
    I don't want to phone them.
    • Badger50
    • By Badger50 25th Nov 17, 4:50 PM
    • 20 Posts
    • 6 Thanks
    Badger50
    They likely will reply, by post, if they are not happy with what you have sent. It might take some time but they will tell you what they need and enclose a reply paid envelope. They are a bit old-fashioned but get there in the end.

    If they are OK with what you sent they will also write to you, through the post, confirming that they have updated your records. They seem to be very fond of Royal Mail for online account providers.
    Last edited by Badger50; 25-11-2017 at 4:57 PM. Reason: addition
    • Badger50
    • By Badger50 25th Nov 17, 5:04 PM
    • 20 Posts
    • 6 Thanks
    Badger50
    Personally I prefer to deal with banks via paper correspondence so SW's MO suits me very well. Not quite as good as my old Nationwide InvestDirect account with its free postal stationery though.
    • soulsaver
    • By soulsaver 25th Nov 17, 5:54 PM
    • 1,495 Posts
    • 541 Thanks
    soulsaver
    I emailed them back a scanned copy of my on-line statement and asked if this was acceptable. Not yet had a reply back.

    Anyone know if this is adequate?
    Originally posted by Al Ross
    They said it wasn't to me, but I didn't test it. But they've allowed me to break other rules...
    • clivep
    • By clivep 25th Nov 17, 6:13 PM
    • 222 Posts
    • 96 Thanks
    clivep
    I emailed them back a scanned copy of my on-line statement and asked if this was acceptable. Not yet had a reply back.

    Anyone know if this is adequate?
    Originally posted by Al Ross
    The email doesn't say whether or not this is acceptable. However, when I telephoned them I asked the question and was told that they have to be posted.

    Sending an email with a copy of your bank statement over an unsecured link is probably not very advisable anyway. In fact there is small print in their email saying "Messages sent by email may not be secure and may be intercepted by third parties. For these reasons, please do not use email to send us communications which contain confidential information".
    • adindas
    • By adindas 27th Nov 17, 10:07 AM
    • 3,343 Posts
    • 1,650 Thanks
    adindas
    I emailed them back a scanned copy of my on-line statement and asked if this was acceptable. Not yet had a reply back.

    Anyone know if this is adequate?
    Originally posted by Al Ross
    It seem to me they will email you on;y if they need you to inform you quickly and not the other way around. If you send them an email and it is not their interest they tend not to reply it.

    Just be aware and careful.
    They will start looking for an excuse to close multiple AC for people applied the account before November 8, 2017.

    So after the email follow it by sending it by post. Also be aware that the online statement will need to show the URL address. So do not take a chance for them to find an accuse to close your account which is already open.
    • Kate_W
    • By Kate_W 27th Nov 17, 4:12 PM
    • 6 Posts
    • 2 Thanks
    Kate_W
    I have not received any letters from Tesco yet on this, But is it correct that the Tesco Current accounts will change soon , and require 3 Direct Debits each? Is that also from April ?
    • harz99
    • By harz99 27th Nov 17, 4:59 PM
    • 2,514 Posts
    • 2,452 Thanks
    harz99
    I have not received any letters from Tesco yet on this, But is it correct that the Tesco Current accounts will change soon , and require 3 Direct Debits each? Is that also from April ?
    Originally posted by Kate_W

    http://www.tescobank.com/current-accounts/existing-customers/
    • Kate_W
    • By Kate_W 28th Nov 17, 11:00 PM
    • 6 Posts
    • 2 Thanks
    Kate_W
    Thanks harz99,
    I was lucky enough to open my Tesco accounts in Feb 2017, thus do not need to worry...
    Glad that's 6 Direct debits I do not need to find...

    Thanks
    • BeachNut
    • By BeachNut 29th Nov 17, 8:21 AM
    • 83 Posts
    • 23 Thanks
    BeachNut
    SW Bank ID
    Response I got by email "I can confirm that we can accept an online statement via email as long as it confirms your full name, address, account details and clearly shows the URL address."

    They seem to be making the requirements up as they go along since the original email said nothing about containing your address, only the URL.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

213Posts Today

1,399Users online

Martin's Twitter
  • Have a lovely weekend folks. Don't do anything (fiscally) that I wouldn't do!

  • RT @thismorning: With his last deals of the year, @MartinSLewis wishes us all a 'very merry Christmas, a happy Hanukkah and a wonderful and?

  • RT @stoneygran: @MartinSLewis I furtively used a pub toilet last night before getting on the bus and felt really guilty!

  • Follow Martin