Savings accounts deposits by Direct Debit?

Zekko

Anyone else having issues with Tesco Online Banking today?

It's not letting me transfer back the £2.00 to my Lloyds accounts.
It also won't let me transfer monies between Tesco accounts.

Edit: OK, it seems if I put in a date for transfer on 08/10/12 instead of 06/10/12 it works.

a&akay

innovate wrote: »

List of savings accounts providers that allow, and don't allow, deposits by Direct Debit (as opposed to by SOs, debit cards etc etc).

Please add a reply if you have anything additional to report, or if you spot something incorrect. I will update this post as appropriate so we got the list all in one place.

Providers with Direct Debit feed:

• Aldermore
• AA (1st deposit by cheque)
• Egg (Yorkshire BS)
• Bank of Ireland Websave
• BMsavings
• Britannia BS
• First Save
• GE Capital
• ICICI
• ING Direct (no FSCS guarantee, passport scheme only; 1st deposit by cheque; at least 2, may be more, linked accounts allowed)
• Intelligent Finance
• Monmouthshire Building Society (must use paper forms)
• Nationwide Mysave
• Newcastle BS (selected accounts)
• Post Office (online set up; more than one linked account on selected PO savers))
• Principality BS (can have more than one linked account; to set up, call 029-2038-2000, or send paper forms)
• Saga (if you are 50+; 1st deposit by cheque)
• Santander (must complete Direct Debit form, and send statement of source account as proof of ownership)
• Scottish Widows
• TESCO Bank (can have more than one linked account)
• West Bromwich BS (selected accounts)

Minimum opening deposits apply in some cases.

Offshore banks, such as Nationwide International, might allow DDs - - but beware, they have no FSCS protection.

ZOPA, Paypal, National Lottery, Charities: not exactly savings accounts, but they allow Direct Debits.




Providers with no Direct Debit feed:
- most high street banks
- Barnsley BS
- Cambridge BS
- Chelsea BS
- Coventry
- Derbyshire
- KRBS
- M&S Savings
- N&P
- National Counties
- Northern Rock
- Nottingham Building Society
- Saffron BS
- Sainsbury's Bank
- Skipton
- Yorkshire BS (except for old Egg accounts, it seems)

In the light of Halifax etc Rewards accounts requiring 2 DDs from May 13 you may wish to add any accounts that allow SOs out for those who want to recycle some of the £5 automatically, Egg does.

innovate

a&akay wrote: »

In the light of Halifax etc Rewards accounts requiring 2 DDs from May 13 you may wish to add any accounts that allow SOs out for those who want to recycle some of the £5 automatically, Egg does.

Nice spot, thanks, added that. Also, it allows multiple DDs. Such a useful little account now to have . Just the YBS needs to get a little faster...

innovate

a&akay wrote: »

.....accounts that allow SOs out for those who want to recycle some of the £5 automatically, Egg does.

Tried this but it appears that you can only do regular transfers to other YBS accounts, not to any external accounts.

It would work if you had a YBS Cash Transactor account (alongside the Egg account) but can only open one of these in Branch or by Post so the hassle-factor may be too high to bother with it.

myth123

Looking to open a Nationwide Mysave to set a DD from a CA to pay into it, it requires £1000 to open and £1 to operate, does anyone know how long it takes for payments to come in and out of the MySave acc? As I will be looking to use £1,000 from my natwest e-saver to open the account but then want to transfer it back (well, £999 hehe) for the higher interest on natwest.

innovate

It was 'faster payment' to/from Nationwide Flexaccount when I last used it. I put it in quotes because it wasn't instant but by end of next working day definitely.

myth123

innovate wrote: »

It was 'faster payment' to/from Nationwide Flexaccount when I last used it. I put it in quotes because it wasn't instant but by end of next working day definitely.

Thanks for the reply, do you know if can I fund the initial £1000 from cash in my flexaccount but have the direct debit set up to pay into it from a separate account elsewhere? I'm going to apply after the New Year to avoid any delays with bank hols.

innovate

Not sure...I think the DD had to be with your 'Nominated Account'. Check the user guide and/or ask Nationwide.

michaels

OK luckily dw and I had old egg accounts and the ybs internet seems very user friendly so hopefully 2 dds set up on each of 7 reward acs.

fizzypop

Puzzled as to how I can set up direct debits with Aldermore for their Easy Access accounts. I have a nominated account with Natwest Bank but there is no mention of DD on the Aldermore site.
I am looking to set up a DD on each of my three Halifax Reward Accounts to feed my Aldermore account.
Can anyone advise? Thanks