Savings accounts deposits by Direct Debit?

Dr_Cuckoo3

Scottish Widows

http://www.scottishwidows.co.uk/bank/savings/internet_saver_account_detail.html

manyaonisland

So I have follow-on question on the saving accounts accepting multiple DD. which are these? and what is the interest rates they offer? i know my deposit will be small at present (covering DD requirement of Vantage) but still the best saving rate is better

YorkshireBoy

manyaonisland wrote: »

So I have follow-on question on the saving accounts accepting multiple DD. which are these? and what is the interest rates they offer? i know my deposit will be small at present (covering DD requirement of Vantage) but still the best saving rate is better

Why? You're only going to pull £1 a time aren't you? And if you insist on pulling more I want to know where you're getting a better rate than 4% AER!

The difference in interest earned will be negligible, nee incalculable!

manyaonisland

YorkshireBoy wrote: »

I want to know where you're getting a better rate than 4% AER!

Hence asking which are the accounts having facility of setting multiple linked account to set up DD. Also idea here is not to beat 4% but having the account which is top of the list in terms of Interest rate yet give facility for setting multiple linked account. the interest rate will come in play for funds > 18£ where vantage account stops!

YorkshireBoy

manyaonisland wrote: »

Hence asking which are the accounts having facility of setting multiple linked account to set up DD.

There are 3 such providers listed in the first post on this thread. Have you investigated their rates? Anything suitable there?

Also idea here is not to beat 4% but having the account which is top of the list in terms of Interest rate yet give facility for setting multiple linked account.

You want your cake and eat it!

It's unlikely you'll get everything in one account provider. It'll be either a top of the table rate or multiple linked accounts I fear...not both.

Personally I'd put my >£18K savings in the next best account available, and bag a couple of Tesco accounts specifically for the Vantage offer over the next 12 months.

manyaonisland

YorkshireBoy wrote: »

There are 3 such providers listed in the first post on this thread. Have you investigated their rates? Anything suitable there?

yes I am going to check this tonight. just wanted to check whether anyone has done that for not reinventing the wheel. I will post my finding here once i do it!

YorkshireBoy wrote: »

You want your cake and eat it!

And I ask why not if there is something like that exists that is!
:j

YorkshireBoy wrote: »

It's unlikely you'll get everything in one account provider. It'll be either a top of the table rate or multiple linked accounts I fear...not both.

Personally I'd put my >£18K savings in the next best account available, and bag a couple of Tesco accounts specifically for the Vantage offer over the next 12 months.

Completely agree here to what you say. it is just that i was thinking of killing two birds in one stone!.. i will update the rate i find on the options you mentioned above.

innovate

manyaonisland wrote: »

I will post my finding here once i do it!

Thanks, this will no doubt be appreciated - - but please could you keep on topic, and post anything Vantage related in the Vantage thread?

The thread we are in at the moment is just to list savings accounts that allow Direct Debits. This is not Vantage (or any other offering) specific.

snowgo

At the top of the Santander direct debit form (link is in post 1 of this thread) it states "return with a recent copy of statement of the account you will be debiting to Santander...".

If I've understood this correct seems like I have to send them a copy of statement from my vantage account(s). Puzzled why I have to do this. Do Santander really need to have a nosy into the transactions of my vantage accounts?

badger09

snowgo wrote: »

At the top of the Santander direct debit form (link is in post 1 of this thread) it states "return with a recent copy of statement of the account you will be debiting to Santander...".

If I've understood this correct seems like I have to send them a copy of statement from my vantage account(s). Puzzled why I have to do this. Do Santander really need to have a nosy into the transactions of my vantage accounts?

See my post 247 here

https://forums.moneysavingexpert.com/discussion/4104719

(Sorry, don't know if its possible to quote from different threads:o)

snowgo

Thanks for that. Yes, I can see that they would want to know that I own the account they are debiting. Although I'd anticipated that Lloyds wouldn't let them debit my account without checking that the account signature matched that on the direct debit form.

I've just realised that if I do a search on my lloyds account on internet banking and set the search dates very narrow, when printed it has the heading 'classic vantage statement' and shows just the last transaction, which in my case is an interest payment and balance. So if I send that to Santander it gives them only minimal info.