Savings accounts deposits by Direct Debit?

innovate

planteria wrote: »

Cambridge Building Society accepted DDs into Savings Accounts last i was aware.

do you have a link please to their T&Cs that say they do Direct debits?

adindas

I am aware that "Post Office Online Saver" does not allow multiple DDs. But I am also aware that the reality is sometimes different to what have been stated.

Have anyone tried to set up a SECOND DD from "Post Office Online Saver" if you could inform the outcomes it will be great thanks.

innovate

It doesn't allow multiple DDs.

planteria

i don't, innovate
but i used to have a £20/m DD to my Cambridge passbook account. last paid March 2012. i am going to try to reinstate it tomorrow.....because i want to then transfer some DDs to a different C/A.

innovate

If it works, please let us know how you did it. Even if it involves a Branch visit, some people might be able to benefit from it.

planteria

sorry, Cambridge are giving me the details so that i can create a 'Direct Credit'.

as it happens, Principality have done the same. they are telling me "you can create your own Direct Debit", but my understanding is that that wouldnt be an actual DD that way.

Monmouthshire have told me the paperwork is on the way:T

i am struggling for another 2 or 3 building society accounts that i can set up DDs for:mad:......i am a member of nearly all of them;)

innovate

planteria wrote: »

sorry, Cambridge are giving me the details so that i can create a 'Direct Credit'.

The important thing would be how it shows in your current account. Can't imagine that it could be anything other than a DD.

planteria wrote: »

as it happens, Principality have done the same. they are telling me "you can create your own Direct Debit", but my understanding is that that wouldnt be an actual DD that way.

If they say it's a DD, then surely it's a DD?

planteria

i dont think it is innovate. my understanding is that a DD has to be 'claimed' from your current account, by the other party, rather than 'paid to them' by the current account holder. i'm open to being wrong though;)

further updates from my calls this morning:

Cambridge Building Society can accept SOs and Faster Credits....but not Direct Debits.

Melton Mowbray Building Society give the details: 40 32 14 10572780 in order to 'create' the DD, as a member, but that wouldn't be a Direct Debit then.

Monmouthshire Building Society can set up DDs no problem. paperwork posted.

Principality Building Society give the details: 20 18 15 90653535 in order to 'create' the DD, as a member, but that wouldn't be a Direct Debit.

Newcastle Building Society can only do DDs to an online account, not passbook accounts.

West Bromwich Building Society do not allow DDs, they just push you to set up a SO.

psychic_teabag

Ratesetter now does allow DD.
http://www.ratesetter.com/blog/Regular_Lender_Blog.htm

Zorz_2

This might be a daft question but is it possible for a Tesco Bank account to add a nominated feeder account that belongs to another person?

More specifically, person A has a Tesco internet saver which is currently funded by DD from a current account belonging to A. Can we add to this internet saver account a monthly DD from a current account belonging to person B? I've download the DD form from Tesco and it's blank, so I assume that person B can print this form, fill A's Tesco account number/sort code and B's current account and hand it to to B's local bank branch?

Since person B gives the DD mandate to their bank, they can satisfy themselves that this is a legitimate transaction, right?

The only relative post about the subject I could find was this: https://forums.moneysavingexpert.com/discussion/4104719