multiple current accounts meeting direct debit t&cs for accounts

rookiethegooner

Hi apologies if this is the wrong board to post this but just wanted to see if anyone can advise me.

I have a halifax reward account which has my salary paid into it and has all my other monthly direct debits (mobile phone bill and paypal) it also has 3 £1 monthly direct debits set up purely to meet the direct debit requirements and ensure i continue to get the £5 reward from halifax each month (i realise i only need 2 so perhaps one of these should/could be moved to my santander premier account(these direct debits are £1 to tesco internet saver,£1 to post office online saver and £1 to santander e saver)

I also have an old Santander premier account which i have a standing order sent from the halifax account in order to meet the minimum funding requirement This only has 1 monthly direct debit of £1 a month on this account (from the same tesco internet saver account)

I also have a 1 year santander Direct Isa Saver Issue 1 (2.5%) which has been fully funded for this year. (i only mention this in case anyone recommends getting an isa)

I am trying to get sufficient £1 monthly direct debits to my other external savings accounts for all current accounts so that my genuine direct debits can go wherever i choose rather than just to fufil account terms and conditions.

Anyway i was thinking of opening the first direct first account purely for the £125 for switching from my santander premier account once i have a second direct debit set up on that. Does the £1000 required to fund account need to be my salary or could it just be a standing order from another account?

Then once ive saved a little more in a month or 2 time I could then upgrade my santander premier account to a 123 account in order to get cashback from my balance and purchases. I could also get some cashback for upgrading it from using either quidco or topcashback.

I am basically wanting to know if there is any other savings accounts which allow multiple direct debits to be set up, as far as i am aware it is only tesco internet saver and santander e saver which allows multiple direct debits to be set up (i believe it is upto 3 on each). If not i suppose i could always switch one of my other direct debits or set up another savings account with just 1 direct debit if needs be. If anyone could recommend a good savings account for setting up a £1 monthly direct debit other than the ones i already have that would be good.

Also is it worth applying for the first direct account purely for the £125 i get for switching or would it get rather complicated having 3 current accounts and not really worth it. If so would I be better off just upgrading to santander 123 account once i have a sufficient amount saved up to make it worth upgrading.

Hopefully this made some sense and maybe someone will suggest something i hadnt thought of or will spot a flaw in my ideas

thanks in advance

YorkshireBoy

Last time I checked you didn't need to switch DDs for the FD offer. SOs were perfectly acceptable. Have they changed the T&Cs?

Do you have an old Egg Savings account (now with YBS)?

Re the complications of managing 3 current accounts...you should try it with 19 as I do!

BobQ

You could try a NW Flex Direct which does not need DDs?

BobQ

YorkshireBoy wrote: »

Re the complications of managing 3 current accounts...you should try it with 19 as I do!

Are you doing this for a bet? Are their 19 current accounts available?

YorkshireBoy

BobQ wrote: »

Are you doing this for a bet?

No, I'm doing it for 3-5%.

Are their 19 current accounts available?

Not all providers limit you to one.

rookiethegooner

YorkshireBoy wrote: »

Last time I checked you didn't need to switch DDs for the FD offer. SOs were perfectly acceptable. Have they changed the T&Cs?

First Direct site says

"to qualify you need to transfer your banking using our Easyswitch**** service (transferring at least two Direct Debits and/or standing orders) and transfer your salary/income of at least £1,000 per month to your 1st Account within three months of your account opening"

does the funding need of £1000 need to be salary from work or could i just set up a standing order for that?

YorkshireBoy wrote: »

Do you have an old Egg Savings account (now with YBS)?

No i dont have an old egg account

YorkshireBoy wrote: »

Re the complications of managing 3 current accounts...you should try it with 19 as I do!

I dont think ill get 19 just yet