Santander 123 Accounts Only Two Per Person

Minrich

Oh well , may have to have a re think !

planteria

you can DD to Savings Account, of course...i've got Regular Savers, Friendly Society monthly payments [https://forums.moneysavingexpert.com/discussion/4665131, a DD to a Credit Union....i thought we were being told that we could DD straight into an account and DD back?? but i assume not.

i know a chap that moves the same £300, by pre-arranged transfer, between his Halifax c/as and qualifies for monthly Rewards payments without even having to do the transfers:o...i just cycle £1k through in a few minutes, the hard way;)

planteria

use of Charity Donations to qualify is another one.

jem16

planteria wrote: »

you can DD to Savings Account, of course...i've got Regular Savers, Friendly Society monthly payments, a DD to a Credit Union....i thought we were being told that we could DD straight into an account and DD back?? but i assume not.

You cannot direct debit to anything. Some savings providers will "pull" money into an account by using direct debit but you cannot "push" money from an account. However it is the savings provider that requests the money from the current account.

For you to move money yourself from one account to another you use a Standing Order or do a manual transfer using faster payments.

i know a chap that moves the same £300, by pre-arranged transfer, between his Halifax c/as and qualifies for monthly Rewards payments without even having to do the transfers:o...i just cycle £1k through in a few minutes, the hard way;)

Many use the Standing Order to do just that. However with faster payments now it's just as easy to log on and do it manually. No chance of the money going at the wrong time that way.

planteria

"You cannot direct debit to anything. Some savings providers will "pull" money into an account by using direct debit but you cannot "push" money from an account. However it is the savings provider that requests the money from the current account."

what is wrong with that? still DDs that you set up yourself, via the 'pulling' company, and can delete from your current account if you choose to, and they qualify you for incentives/cashback etc.

"it's just as easy to log on and do it manually". no, it's not, because you have to actually do it, but it Is Easy, and that is what i do. early each month i just cycle £1k through accounts manually.

jem16

planteria wrote: »

"You cannot direct debit to anything. Some savings providers will "pull" money into an account by using direct debit but you cannot "push" money from an account. However it is the savings provider that requests the money from the current account."

what is wrong with that? still DDs that you set up yourself, via the 'pulling' company, and can delete from your current account if you choose to, and they qualify you for incentives/cashback etc.

Nothing wrong with that provided you understand what is actually happening which it is clear some do not. Not all savings accounts will use the direct debit to pull in money.

Minrich

Well may have to have our smaller DD's go out of these accounts , fortunate to have alot of DD's i suppose

planteria

agreed, they won't.
i tried several of my Building Societies the other week, and was pleased when Monmouthshire were happy to send me a DD form...several didn't even understand the question

planteria

yes Minrich, use them well :T

innovate

planteria wrote: »

you can DD to Savings Account, of course...i've got Regular Savers, Friendly Society monthly payments

Can you please stop punting your referrals willy-nilly. There is a referral board for it.

Also, as has been pointed out already in the other thread, what you are punting is highly questionable.

Hopefully that thread will soon get edited or deleted.