Savings accounts deposits by Direct Debit?

djpailo

Jelli wrote: »

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.

There will be many charities that accept lower than £1, but if you want to do that, make sure its to a big name charity where the costs of processing these DD's is likely very small. There is no point donating low amounts to small charities because the overhead costs would negate any money you give and in several cases may actually cost them.

badger09

Jelli wrote: »

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.

There won't be any 'cost involved with the interest rate' if you pay off the balance, less the amount of the DD, in full by the due date:cool:

Seriously? 50p DDs to charities. I realise this is MSE, but, seriously:(

Jelli

badger09 wrote: »

There won't be any 'cost involved with the interest rate' if you pay off the balance, less the amount of the DD, in full by the due date:cool:

Seriously? 50p DDs to charities. I realise this is MSE, but, seriously:(

I thought a credit card Direct Debit only takes when a person has reached the end of their second month of not clearing the balance so interest has been calculated for 60+ days? I haven't used a credit card for some time now.

Chomeur

Jelli wrote: »

I haven't used a credit card for some time now.

It shows

If you've got a balance then there's always a minimum amount that they require you to pay, 2% or 50p or something. I guess that gives them comfort that you are still around and haven't just disappeared.

Eco_Miser

Jelli wrote: »

I thought a credit card Direct Debit only takes when a person has reached the end of their second month of not clearing the balance so interest has been calculated for 60+ days? I haven't used a credit card for some time now.

The normal thing to do if you're using a credit card for convenience and/or to generate a DD is to set the DD to pay of the whole amount due each month. That way there is no interest, and if you use the card in every charging period (month but not calendar month), you get a DD every month too.

clivep

Eco_Miser wrote: »

The normal thing to do if you're using a credit card for convenience and/or to generate a DD is to set the DD to pay of the whole amount due each month. That way there is no interest, and if you use the card in every charging period (month but not calendar month), you get a DD every month too.

... unless it's a TSB Advance CC. These have no grace period so charge interest even if you pay in full every month.

steveksullivan

Referring to the Santander Everyday saver funding by DDs


Having many, many years ago jumped through all the hoops, mentioned in previous posts, to open this account, now that the free fivers are no longer flowing from Halifax I wanted to cancel the 'funding mandates' into the everyday saver.........


(last few months I've been having to make sure I tansferred money from San 123 current account - into Halifax - so that the funding mandate would debit from there into my everyday saver.....then from there back into my current account.)


Well, as a process they dont do anymore seems they can't cancel them either!! Took a total of an hour on the phone to them and eventually they said only option was to close the accout ....which I've now done - I hope!!!

soulsaver

steveksullivan wrote: »

Referring to the Santander Everyday saver funding by DDs


Having many, many years ago jumped through all the hoops, mentioned in previous posts, to open this account, now that the free fivers are no longer flowing from Halifax I wanted to cancel the 'funding mandates' into the everyday saver.........


(last few months I've been having to make sure I tansferred money from San 123 current account - into Halifax - so that the funding mandate would debit from there into my everyday saver.....then from there back into my current account.)


Well, as a process they dont do anymore seems they can't cancel them either!! Took a total of an hour on the phone to them and eventually they said only option was to close the accout ....which I've now done - I hope!!!

Cancel them in Halifax acs.

surreysaver

Don't know how long its been available for, and only paying 1.15%, but for any direct debit hunters out there....

https://www.postoffice.co.uk/savings-accounts/online-saver