Savings accounts deposits by Direct Debit?

innovate

Not sure this will work, since I think you can only set up a DD to a "linked" account. That linked account needs to be one of your own. OTH, I can't see why you shouldn't be able to allow your account to be debited regulary for the benefit of someone else. After all, it works for any utility or local authority, why not for anyone else you would like to pay.

Having said this, why make it complicated? Why not just set up your own Tesco Savings account?

Zorz_2

innovate wrote: »

Having said this, why make it complicated? Why not just set up your own Tesco Savings account?

As you might have imagined, this is about creating one of those token Direct Debits...

I have already a Tesco savings accounts, which I opened to meet the my other bank's requirements, so I'm person A. Person B now needs the same, so instead of going thru the hassle of opening another Tesco account, we thought to save time and use my existing account. There is no problem of trust between A & B.

Anyway, I called Tesco bank's helpline where I was told that there is no problem setting a second nominated account belonging to a different person. We will do this and report the results.

tipsychick

I need to create 2 x dummy DD for each of my half a dozen Santander 123 bank accounts.

Does anyone know if you can use the Santander eSaver to do this?

The eSaver Direct Debit Form does actually say, "You may move money into your eSaver account from another bank or building society" but I was hoping someone might have recent experience of it being successful.

PS I can confirm Paypal only accept 8 x linked bank accounts per Paypal account.

socrates

How do you actually set up Santander e Saver to pull money in from Halifax?

Santander are saying it has to be done with Halifax (but that would be a Standing Order)

Guidance please....

KTF

Fill in the form listed on post 1 of this thread.

socrates

KTF wrote: »

Fill in the form listed on post 1 of this thread.

Damn went paperless 3 months ago (with Halifax)

Whats the next easiest apart from Tesco Savings?

How easy is PayPal

KTF

socrates wrote: »

Damn went paperless 3 months ago (with Halifax)

Whats the next easiest apart from Tesco Savings?

How easy is PayPal

Print off a Halifax statement and send it in. Thats what I did and no problems.

socrates

I may be completely wrong BUT having been through a few of these today it seems BM no longer have a simple savings account - so no DD from there.

Sainsburys inform me that they do not have the facility either

I have not read the whole thread through - so this may have been mentioned already - I wonder if the thread might be updated to show the latest list

innovate

I have now removed BM - if anyone thinks they should be added again, please can they provide appropriate link(s).

Sainsbury's has always been on the list of 'not accepting DDs'

jem16

innovate wrote: »

I have now removed BM - if anyone thinks they should be added again, please can they provide appropriate link(s).

It's not applicable for new savers but is for existing savers with BM so may still be useful.

I have 2 old savers with BM (pleasantly surprised to see they are both still at 2% interest) and was able to set up 2 DDs (one from each) for my Santander 123 accounts.