Savings accounts deposits by Direct Debit?

KTF

I believe only the ex-egg YBS accounts allow multiple DD. I also opened a Yorkshire one and could only link 1 account so I closed it and went with Santander instead.

BaconandEggs

Thanks - how easy is it to setup - can you do it online instantly like with Tesco?

KTF

You fill in a form (link on page1) and send it off.

BaconandEggs

Thanks - I decided to setup a direct debit to a charity.
All I need to do now is close down all these superfluous accounts
No idea how it affects your credit rating having all these accounts!

innovate

Savings accounts don't get reported to credit reference agencies.

Well managed current accounts will get reported but will not have a negative impact. If anything, having several current accounts with no markers will have a positive effect.

BaconandEggs

Good to know - so is there any point in closing dormant zero balance accounts?

KTF

There is a limit of 3 DD on the Santander esaver account. My first 3 were setup ok, the additional 3 were returned with a letter saying I had reached the maximum of 3.

innovate

KTF wrote: »

There is a limit of 3 DD on the Santander esaver account. My first 3 were setup ok, the additional 3 were returned with a letter saying I had reached the maximum of 3.

Thanks for that intelligence, have updated post 1 with it.

There seem to be some other Santander accounts that allow DDs - - you might be able to open one or two of them. - http://www.santander.co.uk/csgs/StaticBS?blobcol=urldata&blobheader=application%2Fpdf&blobkey=id&blobtable=MungoBlobs&blobwhere=1223415811653&maxage=3600

KTF

It was only after I sent the forms off a third time that I got the letter back so they must have got fed up with me trying

I was thinking about opening a second e-saver instead as you can have more than one and the limit is per e-saver, not per customer

Actually, I already have an existing one that has had the high rate drop off so I will fire off another set of forms tomorrow to see what happens.

Then I will have 6 to Tesco and 6 to Santander as its a bit of a pain having 6 to tesco, 3 to santander, 1 to post office, 1 to mysave and 1 to principality when you could condense it down a bit.

innovate

Let us know how you get on, KTF - - second/third etc esaver would be nice if it worked :cool: