Separate bank account for Direct debits

trinode

I've currently got a current account and a savings account, and I'm paid monthly and all my DDs come out monthly just after payday too, which is great.

But I've got a new job and it pays every 4 weeks and for peace of mind / simplicity I'd like to have an account that I can set up a 4 weekly transfer too for my bill payments, but this second account must have Direct Debit allowed on it, can anyone recommend anything? I'm currently with RBS, but willing to switch.

Ideally I'd like to be able to see both my current account and the separate one on the same online banking log in.

Any advise would be gratefully received!

- Anthony

jen245

Why don't you just open another current account, or even a Key account with RBS?

trinode

I didn't know that that was allowed (2 current accounts), I thought they all said "this must be your main account"

I thought there was a "proper" way to do it. A friend mentioned banks used to do a "budgeting account".

I see that some couples have their current account and transfer bill money into a joint account, which is the same thing I'm after, but it's just me.

That key account looks like it may work though.

Any more ideas welcome

- Anthony

ironlady2022

Yes you can have more than one current account. This is how I work mine.

Account 1 (wages go in, standing order to go out to Account 2 everytime I get paid to cover the DDs + more) It will be easier to do it this way rather than monthly, at least you know you are 'overpaying'
Account 2 (has all my DDs)

Account 1 debit card to keep in wallet and whatever is inside is mine. Account 2 debit card, safe at home. Both should not be used simultaneously as this will only confuse you.

jen245

You can have as many current accounts as you like, with as many banks as you like. Some accounts do have funding requirements, but normal current accounts don't, so there is no reason why you can't apply for a 2nd account with RBS. If you want to try another bank, then perhaps have a look at their websites to see if there are any that suit your needs. Halifax has a current account that gives you a free fiver if you pay in £1000 a month, I have one that I use alongside my Natwest current account

pmduk

I noticed the other day that RBS have a bill management facility, however, I don't yet know how it works. Others have suggested a basic bank account just for direct debits, which is how I manage this. It takes a bit of management, but that's for the good.

trinode

pmduk, mayling03 what bank are you with if you don't mind me asking? (I'm with RBS, but will have santander forced upon me when the sale completes, something I'm not too keen on). and does your online banking let you see both accounts on the one login?

notafan

I'm with hsbc and have two accounts for the same reason.

I set it up with before faster payments kicked in though i'd be happy now though to have one in another place.

If you like banking with RBS get a form and ask them to swap you over and they'll let you before santander.

You could then go get another account with anywhere else - whilst i think some banks do send standing orders as a normal payment (ie not fast payment) you can still make them one off or transfer it yourself for the 13 times a year you'd have to if you needed it immediately and it should be with any of the banks you get your second account with.

You could maybe get a halifax reward for the £5 but i suppose any would do.

trinode

notafan, this form to stay, since all rbs branches are to be sold to santander, does that mean I'll be transferred to natwest?

heloid

I have one account for bills and one account for spending.
Pay goes in to bills, I transfer a set amount to my spending account so I can budget. Any spare after bills goes in to a savings account.

notafan

As far as i'm aware it'll still be RBS - but i think it does require a new sort code and account number (ie to be different from the ones that santander are set to buy)

I'm sure other people will have more info on this then me.

I'm sure I've read that they register the account in Scotland under RBS.

I would assume that if they don't already allow it (and im not 100% sure) even with your RBS account based in scotland im sure you'll be able to go into a natwest branch to do some account stuff. I reckon that if they dont do that already then it would maybe make sense for them to allow it once the sale goes through. Or instead and again not 100% but i imagine they'll allow you to have a NatWest account because essentially the only thing that's different is the logo you see.