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  • FIRST POST
    • chockydavid1983
    • By chockydavid1983 27th Oct 17, 11:29 AM
    • 488Posts
    • 291Thanks
    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)
    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; Today at 9:47 PM.
Page 11
    • clivep
    • By clivep 29th Nov 17, 9:43 AM
    • 225 Posts
    • 97 Thanks
    clivep
    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.
    Originally posted by BeachNut
    I found out that with Yorkshire Bank you have to enter your name as the account nickname in order to get it printed on the online statement so I did this and sent it off (in the reply paid envelope) just to make sure.

    The Yorkshire Bank and TSB online statements do not show the account holder address though. This was not stated as a requirement by Scottish Widows in their email or in their letter.
    • Midland45
    • By Midland45 3rd Dec 17, 7:44 AM
    • 73 Posts
    • 24 Thanks
    Midland45
    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
    I used this method for both myself and wife, and we both got letters about a week or so after confirming our accounts were open and active. I had noticed on the accounts the DD payments we’d set up were listed to pay for both Dec and Jan, so was fairly sure that SW had completed their checks. Great to get written confirmation though.
    • Rich2808
    • By Rich2808 3rd Dec 17, 11:19 AM
    • 531 Posts
    • 417 Thanks
    Rich2808
    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.
    Originally posted by BeachNut
    The post office seemingly rejected my certified driving licence as ID for my online saver application as it was printed/copied in colour not black and white - I only noticed afterwards the rules stated colour copies were not acceptable.! Everything else complied - I used an accountant to certify so this can only be the reason in their rules they rejected it for I could see.

    I had used the same person and colour copy for a passport application - and there were no issues at all. Beat that for picky!
    • clivep
    • By clivep 3rd Dec 17, 11:19 AM
    • 225 Posts
    • 97 Thanks
    clivep
    I used this method for both myself and wife, and we both got letters about a week or so after confirming our accounts were open and active. I had noticed on the accounts the DD payments we’d set up were listed to pay for both Dec and Jan, so was fairly sure that SW had completed their checks. Great to get written confirmation though.
    Originally posted by Midland45
    You can't assume that the DDs being set up means that they've completed checks.

    Our first a/cs had the DDs set up and the first DD deposits taken on 21st November. We only got the email requesting statements on 22nd November.

    I followed up on 29th November by replying to their original email message asking if my submitted statements were OK as they didn't show our address. I promptly received the reply "We are in receipt of the identification and a Welcome Letter will be coming out to you shortly". We're still waiting for this.
    • Katiehound
    • By Katiehound 3rd Dec 17, 12:45 PM
    • 3,912 Posts
    • 38,022 Thanks
    Katiehound
    I applied for Saga & BM savings accounts which like SW are subsiduaries of Lloyds banking group.
    No problems with proving anything, I assume, because I have accounts with Lloyds & Halifax & BoS. Thank goodness! All this chasing DDs has been --- time consuming!!
    Being polite and pleasant doesn't cost anything!

    If you found my posting helpful please hit the "Thanks" button!
    Thank You
    • Tom1D
    • By Tom1D 3rd Dec 17, 12:53 PM
    • 3 Posts
    • 0 Thanks
    Tom1D
    Hi All,
    I have a Bank of Scotland , a Halifax Reward and a Lloyds bank account all getting 2 direct debits from my Tesco Accounts. (just found out Tesco are stopping this in April )

    I plan to open up a Post Office Online Saver account to start off with... (will look at others later, just one at a time)

    Can I ask , Does anyone know, if these accounts (BOS, HX and Lloyds) will still require just 2 Direct Debits? or are they going to increase this to a requirement of needing 3 Direct Debits anytime soon?
    • badger09
    • By badger09 3rd Dec 17, 1:03 PM
    • 5,596 Posts
    • 4,908 Thanks
    badger09
    Hi All,
    I have a Bank of Scotland , a Halifax Reward and a Lloyds bank account all getting 2 direct debits from my Tesco Accounts. (just found out Tesco are stopping this in April )

    I plan to open up a Post Office Online Saver account to start off with... (will look at others later, just one at a time)

    Can I ask , Does anyone know, if these accounts (BOS, HX and Lloyds) will still require just 2 Direct Debits? or are they going to increase this to a requirement of needing 3 Direct Debits anytime soon?
    Originally posted by Tom1D
    I don't think any of us has a crystal ball, so who knows
    I'm a supporter of dunstonh
    • NoodleDoodleMan
    • By NoodleDoodleMan 3rd Dec 17, 1:45 PM
    • 169 Posts
    • 46 Thanks
    NoodleDoodleMan
    Can I ask , Does anyone know, if these accounts (BOS, HX and Lloyds) will still require just 2 Direct Debits? or are they going to increase this to a requirement of needing 3 Direct Debits anytime soon?
    None have so indicated.

    Remember, with PO Online Savers you will only have one linked account with each, which means only 1 x Direct Debit, no multiple DDs like Tesco set up for numerous external accounts.
    • Zanderman
    • By Zanderman 3rd Dec 17, 1:45 PM
    • 1,314 Posts
    • 3,745 Thanks
    Zanderman
    Can I ask , Does anyone know, if these accounts (BOS, HX and Lloyds) will still require just 2 Direct Debits? or are they going to increase this to a requirement of needing 3 Direct Debits anytime soon?
    Originally posted by Tom1D
    I don't think any of us has a crystal ball, so who knows
    Originally posted by badger09
    But I don't think there's ever been any suggestion that such a change is even being considered, so I wouldn't worry.
    • colsten
    • By colsten 3rd Dec 17, 3:25 PM
    • 8,817 Posts
    • 7,521 Thanks
    colsten
    I don't think any of us has a crystal ball, so who knows
    Originally posted by badger09
    I hope to get one this Christmas. Been waiting for it for over 60 years, so this year must surely be the year.
    • Tom1D
    • By Tom1D 3rd Dec 17, 4:15 PM
    • 3 Posts
    • 0 Thanks
    Tom1D

    Remember, with PO Online Savers you will only have one linked account with each, which means only 1 x Direct Debit, no multiple DDs like Tesco set up for numerous external accounts.
    Originally posted by NoodleDoodleMan
    Thank you for the comment and help...

    As only 1 linked account is possible, I will thus link this to my BOS account.
    My plan was to set up weekly direct debits.. so thus would have at least 2.
    • Midland45
    • By Midland45 3rd Dec 17, 4:33 PM
    • 73 Posts
    • 24 Thanks
    Midland45
    You can't assume that the DDs being set up means that they've completed checks.

    Our first a/cs had the DDs set up and the first DD deposits taken on 21st November. We only got the email requesting statements on 22nd November.

    I followed up on 29th November by replying to their original email message asking if my submitted statements were OK as they didn't show our address. I promptly received the reply "We are in receipt of the identification and a Welcome Letter will be coming out to you shortly". We're still waiting for this.
    Originally posted by clivep
    Absolutely correct, but we both got a follow up written letter that stated "I'm pleased to confirm your new Scottish Widows Bank Internet Saver Account is now active." The letter was dated 21st Nov but didn't arrive until 02 Dec. Obviously they are very busy with new accounts at the moment.
    It also stated the first DD would be taken 3 working days after the letter was dated.
    • clivep
    • By clivep 3rd Dec 17, 5:19 PM
    • 225 Posts
    • 97 Thanks
    clivep
    Thank you for the comment and help...

    As only 1 linked account is possible, I will thus link this to my BOS account.
    My plan was to set up weekly direct debits.. so thus would have at least 2.
    Originally posted by Tom1D
    Making one direct debit weekly won't satisfy the BOS Vantage conditions for interest...
    "pay at least two different direct debits from your Vantage account each calendar month".
    • Steve_xx
    • By Steve_xx 3rd Dec 17, 5:23 PM
    • 6,433 Posts
    • 2,682 Thanks
    Steve_xx
    Making one direct debit weekly won't satisfy the BOS Vantage conditions for interest...
    "pay at least two different direct debits from your Vantage account each calendar month".
    Originally posted by clivep
    I guess one might argue that paying two DD's with differing amounts could be construed as "two different" direct debits!! They're not actually stating that the two DD's need be paid to different companies, so it is open to some interpretation!
    • Katiehound
    • By Katiehound 3rd Dec 17, 6:43 PM
    • 3,912 Posts
    • 38,022 Thanks
    Katiehound
    I guess one might argue that paying two DD's with differing amounts could be construed as "two different" direct debits!! They're not actually stating that the two DD's need be paid to different companies, so it is open to some interpretation!
    Originally posted by Steve_xx
    I think you'll find that they need to be paid to different accounts even if it is the same organisation- that's how it was possible to fulfil the conditons by having 2 different Tesco savings accounts.

    The problem is that if you discover that ploy (mentioned above) doesn't work you will have lost interest for the month and possibly the next whilst figuring out where to find another DD. On the other hand there is still a bit of time before the Tesco ones are pulled.......
    Being polite and pleasant doesn't cost anything!

    If you found my posting helpful please hit the "Thanks" button!
    Thank You
    • Katiehound
    • By Katiehound 3rd Dec 17, 6:45 PM
    • 3,912 Posts
    • 38,022 Thanks
    Katiehound
    I hope to get one this Christmas. Been waiting for it for over 60 years, so this year must surely be the year.
    Originally posted by colsten
    Have you told Santa, and indicated which one you would like??
    Being polite and pleasant doesn't cost anything!

    If you found my posting helpful please hit the "Thanks" button!
    Thank You
    • Vortigern
    • By Vortigern 3rd Dec 17, 6:48 PM
    • 2,324 Posts
    • 1,533 Thanks
    Vortigern
    I applied for Saga & BM savings accounts which like SW are subsiduaries of Lloyds banking group.
    No problems with proving anything, I assume, because I have accounts with Lloyds & Halifax & BoS. Thank goodness! All this chasing DDs has been --- time consuming!!
    Originally posted by Katiehound
    Assume nothing, they could still ask for proof.

    I also have accounts with Lloyds, Halifax and BoS. BM wanted a cheque from the linked account. SW wanted a statement.
    • Katiehound
    • By Katiehound 3rd Dec 17, 6:54 PM
    • 3,912 Posts
    • 38,022 Thanks
    Katiehound
    Assume nothing, they could still ask for proof.

    I also have accounts with Lloyds, Halifax and BoS. BM wanted a cheque from the linked account. SW wanted a statement.
    Originally posted by Vortigern
    Cheque sent to Saga (BM) from linked a/c, expecting same proceedure from BM (trading as themselves!)
    Luckily I have paper statements so if they really want one they can have it!
    I didn't apply for SW as I have managed to sort all the required DDs without! (after much shuffling!)
    Being polite and pleasant doesn't cost anything!

    If you found my posting helpful please hit the "Thanks" button!
    Thank You
    • treefiddy88
    • By treefiddy88 3rd Dec 17, 8:30 PM
    • 2 Posts
    • 0 Thanks
    treefiddy88
    I'm wondering if one of you kind and knowledgeable people could help me with a specific query.

    I would like to switch my Santander current account to a TSB Classic Plus account in order to get the £130 joining fee. My Santander account does not have any active direct debits set up and the deadline to take advantage of the MSE exclusive £130 offer is tomorrow, Monday 4th December.

    Is there any point in trying to quickly set up 2 DDs to charities/magazine subscriptions on my Santander account now or will this fail to go through in time? What would happen if the DDs started during the account switching process?

    Thanks in advance
    • Steve_xx
    • By Steve_xx 3rd Dec 17, 9:58 PM
    • 6,433 Posts
    • 2,682 Thanks
    Steve_xx
    I think you'll find that they need to be paid to different accounts even if it is the same organisation- that's how it was possible to fulfil the conditons by having 2 different Tesco savings accounts.

    The problem is that if you discover that ploy (mentioned above) doesn't work you will have lost interest for the month and possibly the next whilst figuring out where to find another DD. On the other hand there is still a bit of time before the Tesco ones are pulled.......
    Originally posted by Katiehound
    You may well be correct. Or, is it that we have assumed that what you say is the case? The terms are ambiguous in that we all assume that they mean DD's from two different accounts, but that is not actually stated.

    Halifax states: pay out a minimum of 2 different direct debits

    They don't mention that these two DD's have to be to different companies or to different accounts for that matter. It merely states "different". One could therefore reasonably argue that a DD set up to pay on the 5th of the month, and another on say the 10th of the month to the same account, were in fact different?
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