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  • 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    Post Office Online Saver (can only DD in from one nominated account, may be being withdrawn)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 12
    • Steve_xx
    • By Steve_xx 3rd Dec 17, 10:03 PM
    • 6,433 Posts
    • 2,682 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
    • 1,495 Posts
    • 541 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
    • 5,587 Posts
    • 4,896 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


    I'm a supporter of dunstonh
    • clivep
    • By clivep 4th Dec 17, 11:49 AM
    • 224 Posts
    • 97 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
    • 169 Posts
    • 46 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
    • 7,476 Posts
    • 9,623 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
    • 169 Posts
    • 46 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.
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