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
    • 558Posts
    • 328Thanks
    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, sketchy customer service feedback)
    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; 06-01-2018 at 9:07 AM.
Page 12
    • Steve_xx
    • By Steve_xx 3rd Dec 17, 10:03 PM
    • 6,475 Posts
    • 2,705 Thanks
    Steve_xx
    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
    Originally posted by treefiddy88
    You may be able to select a date for the process to start. Thereby giving you time to do what you propose. So I guess only by starting an application with TSB will you learn if it's possible to select a start date for the transfer.
    • treefiddy88
    • By treefiddy88 3rd Dec 17, 11:15 PM
    • 2 Posts
    • 0 Thanks
    treefiddy88
    You may be able to select a date for the process to start. Thereby giving you time to do what you propose. So I guess only by starting an application with TSB will you learn if it's possible to select a start date for the transfer.
    Originally posted by Steve_xx
    Thank you. I have applied for a new TSB account. I have until the 22nd to complete the switch so I should have plenty of time to set up 2 new DDs on the Santander account before starting the switch.
    • soulsaver
    • By soulsaver 3rd Dec 17, 11:36 PM
    • 1,590 Posts
    • 594 Thanks
    soulsaver
    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?
    Originally posted by Steve_xx
    You'd prob lose the argument on the basis in your theoretical interpretation there would be no need to say 'different' - just "..two direct debits".
    Put the word different in and it means something, er, different.

    Personally I'd avoid the time wasted in dispute.. and the risk they'd look at my other broken rules...
    • badger09
    • By badger09 4th Dec 17, 11:34 AM
    • 5,896 Posts
    • 5,233 Thanks
    badger09
    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
    Shouldn't be a problem. Plenty to suit every budget here

    http://www.ebay.co.uk/bhp/clear-crystal-ball


    Better get a move on though. Last posting date 8th December.

    https://www.royalmail.com/letters-to-santa


    • clivep
    • By clivep 4th Dec 17, 11:49 AM
    • 280 Posts
    • 129 Thanks
    clivep
    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?
    Originally posted by Steve_xx
    I would take "different" to mean that there need to be 2 DD mandates showing on the a/c.

    A weekly paying DD would only be 1 mandate

    They certainly don't need to be to different companies. I can confirm this as my DDs to 2 Tesco Savings a/cs have satisfied the BOS requirements.

    Whether or not 2 DDs for the same a/c would work may well depend on how they were set up. 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 using the same mandate would probably not be classed as different DDs for BOS qualifying conditions.

    However, with Tesco you can currently set up multiple DD mandates to take deposits from the SAME external current a/c by setting them up with different references. The BOS a/c would then show 2 mandates so the above example would give 1 mandate paying on the 5th and the other on 10th. This may well satisfy the BOS requirements but again, is it wotth the gamble?
    • NoodleDoodleMan
    • By NoodleDoodleMan 6th Dec 17, 5:15 PM
    • 269 Posts
    • 81 Thanks
    NoodleDoodleMan
    Does anybody have previous with DDs into cash ISAs ?

    I clocked that Scottish Widows permits DDs to fund their EISA3 - so I checked around and it appears a few other providers do likewise - Bank of Cyprus and Yorkshire Bank came up on a search engine.

    Far from ideal, however it might suit somebody strugling to find a single DD to service another account.

    No doubt there will be practical obstacles such as the minimum paying in amount etc.
    • bristolleedsfan
    • By bristolleedsfan 6th Dec 17, 6:01 PM
    • 7,494 Posts
    • 9,627 Thanks
    bristolleedsfan
    Does anybody have previous with DDs into cash ISAs ?
    Originally posted by NoodleDoodleMan

    Progressive B.S - ISA - Regular Saver - Account only available to those living in N.I or existing members.
    Often what I dont say is more significant than what i do say ........
    • NoodleDoodleMan
    • By NoodleDoodleMan 7th Dec 17, 9:25 AM
    • 269 Posts
    • 81 Thanks
    NoodleDoodleMan
    Progressive B.S - ISA - Regular Saver - Account only available to those living in N.I or existing members.
    Interesting, thanks.

    However, as a non resident of the six counties that rules me out.
    • Bobblehat
    • By Bobblehat 18th Dec 17, 5:11 PM
    • 106 Posts
    • 72 Thanks
    Bobblehat
    Regarding the note on the updated 1st page for the Post Office Online Saver. I tried a forum search for information about the DD facility being withdrawn, but came up blank. Apologies in advance for lack of perseverance/interpretation, but can anyone enlighten me as to where the information came from and if it's likely to still be true? Or does the note refer to the Saver being withdrawn!
    • chockydavid1983
    • By chockydavid1983 18th Dec 17, 6:09 PM
    • 558 Posts
    • 328 Thanks
    chockydavid1983
    Pretty sure it was mentioned somewhere in this thread.
    I think it referred to the DD facility being withdrawn.
    Anyone know either way?
    • Kim_13
    • By Kim_13 18th Dec 17, 7:21 PM
    • 1,903 Posts
    • 2,026 Thanks
    Kim_13
    Regarding the note on the updated 1st page for the Post Office Online Saver. I tried a forum search for information about the DD facility being withdrawn, but came up blank. Apologies in advance for lack of perseverance/interpretation, but can anyone enlighten me as to where the information came from and if it's likely to still be true? Or does the note refer to the Saver being withdrawn!
    Originally posted by Bobblehat
    I believe applications to the Post Office Saver were closed for a time but have since been re-opened.

    Edit: It was posted in this thread that applications had closed on 8th November, but seemed to be back on the 22nd.
    Last edited by Kim_13; 18-12-2017 at 7:31 PM.
    Sealed Pot 11 #520 ~ /£100
    VSP 2018 #9 ~ £19.55/£180.00
    CCCC 2018 #1 ~ £20.75/£180.00

    I'm a Board Guide on the Savings and Investments , Budgeting and Bank Accounts , Credit Cards and Marriage, Relationships and Families boards which means I volunteer to help get your forum questions answered and keep the forum running smoothly. Please remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this.) Any views are mine and not the official line of MoneySavingExpert.com
    • Bobblehat
    • By Bobblehat 19th Dec 17, 10:20 AM
    • 106 Posts
    • 72 Thanks
    Bobblehat
    So .... some people may be confused about the comment (me for one!), as there seems to be an ambiguity between the DD facility being withdrawn and the account being withdrawn (even if it was only temporarily).

    What we need now is a confirmation that there is no known intention for the PO to withdraw the DD facility. Can any one help here?

    You may have guessed that I was pondering on opening an account to gain another DD

    TIA
    • chockydavid1983
    • By chockydavid1983 19th Dec 17, 10:35 AM
    • 558 Posts
    • 328 Thanks
    chockydavid1983
    I've searched through the thread and can only find mention of the PO account being temporarily closed for applications for a while.
    • veryintrigued
    • By veryintrigued 19th Dec 17, 11:43 AM
    • 2,213 Posts
    • 1,545 Thanks
    veryintrigued
    So .... some people may be confused about the comment (me for one!), as there seems to be an ambiguity between the DD facility being withdrawn and the account being withdrawn (even if it was only temporarily).

    What we need now is a confirmation that there is no known intention for the PO to withdraw the DD facility. Can any one help here?

    You may have guessed that I was pondering on opening an account to gain another DD

    TIA
    Originally posted by Bobblehat
    Here's your confirmation:

    Whilst the PO Online saver has been available so has the DD facility to feed it.

    Id suggest you make as little noise as possible about this else you might just be the bearer of your own bad news....

    PS from the T&Cs:

    12) You may not open more than one Account in your sole name and one Account jointly in your name and that of someone else.
    Last edited by veryintrigued; 19-12-2017 at 11:56 AM.
    • Bobblehat
    • By Bobblehat 19th Dec 17, 1:36 PM
    • 106 Posts
    • 72 Thanks
    Bobblehat
    Here's your confirmation:
    Originally posted by veryintrigued
    .......
    • JustAnotherSaver
    • By JustAnotherSaver 27th Dec 17, 10:20 PM
    • 2,843 Posts
    • 461 Thanks
    JustAnotherSaver
    Id suggest you make as little noise as possible about this else you might just be the bearer of your own bad news....
    Originally posted by veryintrigued
    I've read this way of thinking a lot in the past few days as i try and see how best to tackle the problem of Tesco removing their D/D feature.

    And i just don't get it.

    People seem to be acting like the MSE forum has single handedly had the D/D feature removed from Tesco and before that the additional requirement of direct debits in the first place to meet interest criteria on current accounts.


    Do you people think the banks are totally thick or what? You think if no MSE members ever breathed a word then it would've gone on forever & ever with no requirement for direct debits in the first place?

    Come on

    In my own search for what to do next i've found other websites that detail the easy hurdle by setting up a couple £1.00 Tesco direct debits.
    Though i guess this website & all others wont have ever been able to work it out without MSE right?


    Not meaning to highlight you specifically veryintrigued. Your post is similar to many i've seen. I just needed to post on this thread so that i could locate it easily

    • Bobblehat
    • By Bobblehat 1st Jan 18, 12:34 PM
    • 106 Posts
    • 72 Thanks
    Bobblehat
    ..........
    In my own search for what to do next i've found other websites that detail the easy hurdle by setting up a couple £1.00 Tesco direct debits.
    .............
    Originally posted by JustAnotherSaver
    Maybe it's the effect of too much NY Cheer not helping me to think clearly .... or just the fog of generally helpful forum suggestions, but could you give me another clue to which websites to go to, to the set up of couple of £1 Tesco direct debits?

    I hope I am assuming correctly that you mean to replace those Tesco DD's that will disappear in April.

    TIA
    • Kim_13
    • By Kim_13 1st Jan 18, 2:36 PM
    • 1,903 Posts
    • 2,026 Thanks
    Kim_13
    The thinking is that companies make these changes because the accounts as they stand are costing them too much money. While MSE may not be the only platform advertising these deals, far fewer customers might find them directly as it were.

    In the case of Tesco DDs, other factors have likely contributed to the decision. First, their allowing multiple accounts means they'll be inundated much more than an account that allows one DD feed into the account only and one account per person only. There's also the £1 DD and send the money straight back routine. Tesco may have thought it made business sense to offer the facility for longer if more of their customers had larger DD's and let the money build in the Tesco account for a length of time, as they intended.

    I read the post as meaning that JustAnotherSaver had found older blogs or posts elsewhere suggesting Tesco Direct Debits.
    Sealed Pot 11 #520 ~ /£100
    VSP 2018 #9 ~ £19.55/£180.00
    CCCC 2018 #1 ~ £20.75/£180.00

    I'm a Board Guide on the Savings and Investments , Budgeting and Bank Accounts , Credit Cards and Marriage, Relationships and Families boards which means I volunteer to help get your forum questions answered and keep the forum running smoothly. Please remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this.) Any views are mine and not the official line of MoneySavingExpert.com
    • veryintrigued
    • By veryintrigued 1st Jan 18, 3:04 PM
    • 2,213 Posts
    • 1,545 Thanks
    veryintrigued
    I've read this way of thinking a lot in the past few days as i try and see how best to tackle the problem of Tesco removing their D/D feature.

    And i just don't get it.

    People seem to be acting like the MSE forum has dongle handedly had the D/D feature removed from Tesco and before that the additional requirement of direct debits in the first place to meet interest criteria on current accounts.


    Do you people think the banks are totally thick or what? You think if no MSE members ever breathed a word then it would've gone on forever & ever with no requirement for direct debits in the first place?

    Come on

    In my own search for what to do next i've found other websites that detail the easy hurdle by setting up a couple £1.00 Tesco direct debits.
    Though i guess this website & all others wont have ever been able to work it out without MSE right?


    Not meaning to highlight you specifically veryintrigued. Your post is similar to many i've seen. I just needed to post on this thread so that i could locate it easily
    Originally posted by JustAnotherSaver
    This is funny.

    Are you still battling with Santander?
    • JWhite
    • By JWhite 4th Jan 18, 1:15 PM
    • 791 Posts
    • 68 Thanks
    JWhite
    Don't make the mistake I did with my Santander 123 Current Account. Suddenly realised a few days ago that my interest payments had stopped about 12 months ago (I know I should have been checking, but took it for granted they were going in!), when I checked I realised that when recently looking at my DD's which were inactive I decided to delete them all but one as they were not being used and forgot entirely about the conditions of the savings deal, i.e. that you have to have 2 DD's on your account. I lost nearly £300 in interest payments and have now had to reinstate a new DD to reinstate my interest payments. Costly mistake !
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

831Posts Today

7,232Users online

Martin's Twitter