Savings accounts deposits by Direct Debit?

psychic_teabag

ING seems to allow multiple (at least two) linked accounts. I logged in to see if it allowed regular deposits via DD (which it does), and was surprised to see that it offered two source accounts. I thought I had changed the linked account a while back, but it seems that I had added one rather than changing it. (There is a button to delete a linked account.)

As mentioned previously, it requires a deposit by cheque from the account in question before it can be linked.

innovate

MoneySaverLog wrote: »

Does this allow multiple DDs into the savings account from the 3 vantage accounts?

Did for me, yes.

MoneySaverLog wrote: »

Do regular monthly payments have to leave by direct debit or is it just good enough to have them set up?

I was told by Lloyds CS today that one monthly payment needs to happen from each DD. Any amount you like - no minimum required.

Dagobert

innovate wrote: »

- Principality BS (can have more than one linked account; must send paper forms)

You don't need to send paper forms or cheques but you have to jump through a few hoops to authorize the DDs:

• phone an 0845 number to authorize DDs
• make a payment from the account the DD is to be set up on

slush

innovate wrote: »

Could you elaborate please? .....

I don't intend using the account for anything other than sending a minimal DD in order to satisfy the new Vantage DD requirement.
And then I can move it back out whenever it suits.

So today signed up for a Tesco Internet Saver 2.6%
http://www.tescobank.com/personal/finance/savings/savingsaccounts/internetsaver/index.html
and a Post Office Online Saver 2.95%
http://www.postoffice.co.uk/finance/savings-investments/online-saver

innovate

slush wrote: »

I don't intend using the account for anything other than sending a minimal DD in order to satisfy the new Vantage DD requirement.

ah right, thanks. Sorry I misunderstood your posts. Thought you meant PO allows multiple DDs against the same savings account, but that doesn't appear to be the case.

psychic_teabag

Looks like AA allows regular deposits via DD. Only one linked account per savings account, but different savings accounts seem to have different linked accounts (I seem to have two AA DD's on a current account, which would be one per account.)

But I don't know if you can have multiple accounts of the same type. (I have one savings acct plus one ISA.)

Eco_Miser

innovate wrote: »

I was told by Lloyds CS today that one monthly payment needs to happen from each DD. Any amount you like - no minimum required.

So my Council Tax and Water Rates DDs, which each only take 10 payments a year would not be suitable, but specially set up £1 a month DDs, as discussed on this thread would?

innovate

Eco_Miser wrote: »

So my Council Tax and Water Rates DDs, which each only take 10 payments a year would not be suitable, but specially set up £1 a month DDs, as discussed on this thread would?

Could you please ask Lloyds Vantage specific questions in the Lloyds Vantage thread so we can keep this thread "clean" and focused just on which savings accounts allow direct debits.

Thanks

Eco_Miser

innovate wrote: »

Could you please ask Lloyds Vantage specific questions in the Lloyds Vantage thread so we can keep this thread "clean" and focused just on which savings accounts allow direct debits.

Thanks

Like your post to which I was replying was?
It was a rheotorical question anyway.

Grabs39

Cheltenham & Gloucester's phone accounts do, but branch accounts don't.