Savings accounts deposits by Direct Debit?

YorkshireBoy

VeryMan wrote: »

Is https://www.bankaccountsavings.co.uk/ accurate to advise me on the maximum interest I can get from savings accounts?

No it isn't accurate (although its not far off).

It gives me £1,470 for £48,000 in single accounts, but I have £65,000, any hint?

That site doesn't include FlexDirect, so room for another £2.5K there.

Then find the best savings account for the rest and drip feed regular savers from there.

VeryMan

YorkshireBoy wrote: »

No it isn't accurate (although its not far off).That site doesn't include FlexDirect, so room for another £2.5K there.

Then find the best savings account for the rest and drip feed regular savers from there.

thanks, any specific plan?

eskbanker

Try https://forums.moneysavingexpert.com/discussion/5374614 for prioritised plan of where/how to get most interest, which overlaps heavily with the site you've been at but also includes regular savers, as does https://forums.moneysavingexpert.com/discussion/608697.

For traditional savings accounts, try http://www.moneysavingexpert.com/savings/savings-accounts-best-interest.

VeryMan

Drip feeding regular saving accounts means that I just deposit money regularly into them? Is it worth enough? More than having the amount in a savings account?

Eco_Miser

The Regular Savers listed pay between 3% and 6% AER. Have you found any normal savings accounts that pay anywhere near that much?

Spread opening the accounts over the year so the total held in them is fairly constant and they don't all mature at once.

rivergold

EDIT: Sorry just seen that this has been discussed in other new threads. Sorry to bump the old thread. Please ignore and post in the ongoing threads in this forum!

With the April 2018 demise of the very useful Tesco Savings accounts direct debit facility, do we have an updated list of methods useful for the usual requirement of 2 x direct debits when operating current accounts?

Paypal is one, supporting up to 8 (?) current accounts, but that requires manual triggering once a month, and can only be used for one of the two required direct debits. Is there anything else?

Chomeur

rivergold wrote: »

With the April 2018 demise of the very useful Tesco Savings accounts direct debit facility, do we have an updated list of methods useful for the usual requirement of 2 x direct debits when operating current accounts?

Paypal is one, supporting up to 8 (?) current accounts, but that requires manual triggering once a month, and can only be used for one of the two required direct debits. Is there anything else?

I wasn't aware of the demise of the Tesco facility, shame.

I've resorted to making cheap balance transfers on credit cards and having them take direct debits each month from my current accounts as required.

Jelli

When credit cards take Direct Debits is it only when the interest starts to bite or are they done before the statement ends so I have time to pay-off what remains before it does?

MarkFromCornwall

Jelli wrote: »

When credit cards take Direct Debits is it only when the interest starts to bite or are they done before the statement ends so I have time to pay-off what remains before it does?

They are usually taken a few weeks after the statement and a few days before payment is due. You can set them to take the minimum or the full amount. Once set up the statement will state the date when payment will be taken. I believe that with some credit cards, if you make a manual payment before the direct debit is taken then the direct debit will be reduced accordingly, but this is not always the case.

Jelli

OK, thank you Mark It seems if I did it that way there would be some cost involved with the interest rate.

As a different thing it would be great if someone had a list of charities that allowed 50p donations instead of £1 as I can only find hundreds of those.