Set up direct debit to self?

anon_ymous

Just wondering,

For instance Halifax now require you to have two direct debits in order to get the £5/month, by also depositing £1000

With £1000, you would normally be able to get away with setting up a standing order to yourself to deposit £1000 and take it out

Just wondering if it would be somehow possible to set up direct debits between your own accounts?

innovate

Sigh.

Another Q that has been answered countless times already.

https://forums.moneysavingexpert.com/discussion/4168667

YorkshireBoy

waqasahmed wrote: »

Just wondering if it would be somehow possible to set up direct debits between your own accounts?

Yes it would, but these DDs need to be 'pulled' from savings accounts.

There's a list of such savings accounts in a thread on the savings & investments board, but take a look at Tesco and the Post Office Online Saver. Think Santander was a possibility, but not sure if that's still the case.

anon_ymous

YorkshireBoy wrote: »

Yes it would, but these DDs need to be 'pulled' from savings accounts.

There's a list of such savings accounts in a thread on the savings & investments board, but take a look at Tesco and the Post Office Online Saver. Think Santander was a possibility, but not sure if that's still the case.

Hmm that seems pretty cool. Like I could pay 2 direct debits in to 2 seperate savings accounts, and move it back?

Sensory

waqasahmed wrote: »

Hmm that seems pretty cool. Like I could pay 2 direct debits in to 2 seperate savings accounts, and move it back?

Yes, although why would you bother moving £2 back into a Halifax Reward?

dr_adidas01

Sensory wrote: »

Yes, although why would you bother moving £2 back into a Halifax Reward?

I can't see the point in moving it back either..... but as they say "Now't as queer as folk!!!"

Gels

The funding requirement is now £750 not £1000, I believe.