Any savings accounts that allow DD's, SO's for bill payments?

essexsi_2

Good evening.

Are there any good rate savings accounts that allow direct debits etc. I am trying to sort out my budgeting along the piggy bank accounts route, a separate account for car, council tax, holiday, petrol etc.
If not, are there any current accounts that don't require you to fund it each month with your salary.

I appreciate any help or advice.

All the best Si

emma396

the basic bank account don't have min. pay in requirements. as far as i'm aware there are no savings accounts that allow DD and SO's, but i am sure someone will correct me if i'm wrong. if ure looking to have a lot of accounts for diff things, may be easiest to have them all in one bank so it's easier to manage. i know hbos will allow you to open up to 5 websavers which you could use for your car, council tax, holiday, petrol etc, but many other banks do the same.

essexsi_2

Thanks for replying.

Good tip about HBOS and the multiple accounts, will look at that I think.

Cheers Si

johnoz

We've been running with a Nationwide FlexAccount / eSavings combination for some time.

The FlexAccount enables you to have direct debits, standing orders, cheque book etc.

The eSavings is linked to the Flex, and any accepts money from / pays out to the Flex.

But it is instantaneous, so we keep the majority in the e-Savings, and the day before a bill is due from our FlexAccount, we transfer it over.

Pay day, and the reverse happens!

Hope this helps.

slopemaster

I have a smile current account and a smile savings account This works well for me as you can draw cash directly from the savings account via a cashcard, and also make bill payments online (though I don't kno about DDs as such). Also transfers between the two are instant online. Its not a brilliant interest rate (just went down from 4.25 to 3.75%) but I think its better than losing 3 days every time you transfer money. The current account also pays interest, albeit at a low rate. I don't know whether you can have multiple named accounts though...

Milarky

essexsi wrote: »

Good evening.

Are there any good rate savings accounts that allow direct debits etc. I am trying to sort out my budgeting along the piggy bank accounts route, a separate account for car, council tax, holiday, petrol etc.
If not, are there any current accounts that don't require you to fund it each month with your salary.

I appreciate any help or advice.

All the best Si

I believe that the Tesco Internet Saver (currently 6.50% pa - including a 12 month bonus) does allow the creation of future dated single payments. Fine for paying bills, but no good for companies that insist on direct debit - and of limited usefulness re. standing orders (although a recurring 'single payment' is a type of standing order)

However if you also bank with Natwest, Barclays, HSBC, Lloyds, A&L or HBOS the Tesco account can be used just like the Nationwide account mentioned above to instantly trasfer any outgoing amount from those current accounts.

So Tesco + proper bank account = success......