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Santander 123 account with 2 direct debits
Comments
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Set up a Direct Debit for 1p a month to a Charity. Worked for me :-)0
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matthewfelgate wrote: »Set up a Direct Debit for 1p a month to a Charity. Worked for me :-)
Nothing to shout about that, and a horrible recommendation to make! What you are doing will cost the charity money because every time they collect your DD they have to pay a multiple of what they get from you. Perhaps you'd like to set up a DD that doesn't rob a charity. It's easy enough to do that.0 -
matthewfelgate wrote: »Set up a Direct Debit for 1p a month to a Charity. Worked for me :-)
For how long I wonder. They'll notice your DD is actually costing them money and decide not to collect it, then you'll receive no interest because you only have a single DD. A potential loss of ~£40.
How about setting up a real DD?0 -
In all the DD excitement, i assume you have spotted that to get the 3% interest you also have to pay £500 into the account every month. If you don't do that you will get zero interest.Forest Thoughts0
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I have a 123 account working as it is supposed to. I'd like my wife to have one now. She has one savings account with DD facility so that can DD can be moved, so she only needs to open another suitable DD linked account. Also, can I fund her account with the requisite £500 by SO (then back again to me)?ForestThoughts wrote: »In all the DD excitement, i assume you have spotted that to get the 3% interest you also have to pay £500 into the account every month. If you don't do that you will get zero interest.0 -
From their website...savetilibleed wrote: »I have a 123 account working as it is supposed to. I'd like my wife to have one now. She has one savings account with DD facility so that can DD can be moved, so she only needs to open another suitable DD linked account. Also, can I fund her account with the requisite £500 by SO (then back again to me)?
...assuming you were intending to fund her account from your Santander account?...transfers from any other Santander accounts do not count towards the monthly funding amount.
If you weren't, then carry on!
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Non Santander account for funding.0
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