Changes to Reward and Ultimate Reward Accounts

innovate

cing0 wrote: »

.... the bank account used when you apply is the only one you can make DD deposits with and withdrawals.

I agree, I haven't found any way to make a regular DD payment into my PO accounts from anything but 1 nominated account, the first one I set up.

However, it is possible to set up many nominated accounts on an Instant Saver, and you can then withdraw from the Instant Saver into any of those nominated accounts. Transfer between e.g. the Online Save and the Instant Saver are immediate - thus you can effectively withdraw from any of your PO accounts to any of your nominated accounts. Not that this is of any use in the context of the Halifax DDs, but I thought I mention it anyway.

Steve_xx

Regarding the Yorkshire Building Society Transactor Account. I just took a look at mine and it appears that there is NO facility to drag cash into it using a DD.

However I had forgotten that the Egg accounts are now shifted to Yorkshire Building Society and I can see that there is a facility to set-up a DD to drag money into them. I am assuming that it will be possible to set up multiple DD's on these old Egg accounts?

Edit: Thanks Innovate, you have actually answered my last question about mutiple DD's on the old Egg accounts in your post on anojther thread.

Steve_xx

I'm wondering if:

I have two Halifax Reward Accounts and a Tesco account and Egg account. I reckon I can set-up DD's from Tesco and Egg to each of the two Halifax Reward Accounts and that should satisfy the requirement there.

My mum has two Halifax Rewards Accounts. My question is could I use MY Tesco and Egg accounts to drag money from HER two Halifax Reward Accounts? That would save the hassle of Mum having to have Tesco and Egg accounts. Though of course she couldn't have an Egg account now because they no longer exist as such. But you get what I'm aiming at?

innovate

Steve_xx wrote: »

Regarding the Yorkshire Building Society Transactor Account. I just took a look at mine and it appears that there is NO facility to drag cash into it using a DD.

There definitely are DD facilities. May be you need to call them.

Steve_xx wrote: »

I am assuming that it will be possible to set up multiple DD's on these old Egg accounts?

Nope. Just 1 single DD allowed on the old Egg account.

Steve_xx

innovate wrote: »

There definitely are DD facilities. May be you need to call them.


That's odd isn't it? I'll take another look. Maybe it's because I haven't used it for a long time?

innovate

Steve_xx wrote: »

My question is could I use MY Tesco and Egg accounts to drag money from HER two Halifax Reward Accounts?

I seem to remember that, when you set up a DD, you sign (if only electronically) that the account that gets debited is your own account. Thus your mum couldn't set up a DD against an account owned by you.

There is obviously nothing that would stop you to pay your mum some money on a regular basis. However, if you wanted to automate the payments, you would use a Standing Order, to push the money from your account to your mum's.

innovate

Steve_xx wrote: »

That's odd isn't it? I'll take another look. Maybe it's because I haven't used it for a long time?

I am going by what they say on the help on their website, and what YB said in this post: http://forums.moneysavingexpert.com/showpost.php?p=58584469&postcount=221

Steve_xx

innovate wrote: »

I seem to remember that, when you set up a DD, you sign (if only electronically) that the account that gets debited is your own account. Thus your mum couldn't set up a DD against an account owned by you.

There is obviously nothing that would stop you to pay your mum some money on a regular basis. However, if you wanted to automate the payments, you would use a Standing Order, to push the money from your account to your mum's.

Yes I think you are correct. I have investigated further on the Egg accounts that are now with Yorkshire Building Soc and I can see that when you try to set up a DD that it does say that the account you are dragging from must bear your name.

So, this means that Mum will now need a Tesco account and another so that she can retain her 3 Halifax Reward accounts. So I need one other account for her that allows multiple DD's to be set up.

This is made even more complex due to the fact that my sister has a HBOS Reward account and my friend has three of them. All of which I administer currently. So, I need to find solutions for Mum, sister friend and I !!!!!! Nine HBOS accounts in all

Steve_xx

innovate wrote: »

I am going by what they say on the help on their website, and what YB said in this post: http://forums.moneysavingexpert.com/showpost.php?p=58584469&postcount=221

Well yes I see what you mean. But no, it definitely is not an option on my Transactor account. I will email Yorkshire BS and ask for some clarification.

I can use my Tesco account for this problem, though to be honest, when I was messing about with Lloyds 4% problem using the Tesco accounts, the DD's seem to disappear from one Lloyds account when I set up the DD's on another so I'm a bit wary of messing about with the Tesco accounts again in case I upset the LTSB accounts.

derrick

Steve_xx wrote: »

So, this means that Mum will now need a Tesco account and another so that she can retain her 3 Halifax Reward accounts. So I need one other account for her that allows multiple DD's to be set up.

Tesco allow multiple accounts, I have 2 set up. one from each of my extra Rewards.

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