Can I set up a DD from one of my accounts to another?

liamcov

I'm trying to take advantage of some banks switching services which pay up to £100 providing you switch all your direct debits in the process. As I don't have any to pay bills etc can I set one up from one of my accounts (eg for £10 a month) to another account at a different bank?

It needs to be a DD and not a standing order too.

dzug1

No - you need to be an approved business and sgree terms with the bank to set up a direct debit.

You can set up a standing order though - but that appears to be no good in this case.

Olipro

liamcov wrote: »

I'm trying to take advantage of some banks switching services which pay up to £100 providing you switch all your direct debits in the process. As I don't have any to pay bills etc can I set one up from one of my accounts (eg for £10 a month) to another account at a different bank?

It needs to be a DD and not a standing order too.

I suggest you open a savings account with a bank that lets you use Direct Debit to transfer money - ICICI are one such bank.

trynsave

Perhaps set a d/d up for an existing credit card or for an account which only debits when you spend such as 'milk & more'. I opened an account with them when they were doing the £5 free on first order offer, but have used them occasionally since. My d/d is 20th monthly but if you don't order you don't get charged so d/d can sit quite happily on your account and never be triggered.

http://www.milkandmore.co.uk/home_delivery/milk.htm?gclid=COH8lJuy5qECFUcA4wodtUUIKg

I'm sure there must be other accounts which work in a similar way, just to let you hold a d/d to switch.

Marty21

If you have a paypal account and add your bank account it adds a direct debit to your bank account, it only requests money when you purchase something:) So you could do that then just cancel your paypal account once you have switched?

JesseJames_2

Marty21 wrote: »

If you have a paypal account and add your bank account it adds a direct debit to your bank account, it only requests money when you purchase something:) So you could do that then just cancel your paypal account once you have switched?

I'm sure you meant to say to cancel/remove the bank account from Paypal rather than the Paypal account itself.
Recently did that and the direct debit soon disappeared from the bank account DD list.