New Lloyds Club current account

noh

nearlyretired2004 wrote: »

May I ask what other savings account you fund with Direct debit other then Tesco (I am asking this in another thread as well .....)


I want to do this as well and was going to use my Santander esaver, but this is now closed to new Direct Debits.......

AA Savings can be funded by DD.
I have set up one for a pound a month.

nearlyretired2004

AA...thanks! will look into that now.!!!


.... any particular account? (obviously haven't looked yet, so forgive me if question is superfluous!!)

MarkFromCornwall

adindas wrote: »

If the DD set up via Paypal, do you need to pull the money each month from several links account to PP a/c manually or it could be done automatically like normal dd do ??

It has to be done manually.

noh

nearlyretired2004 wrote: »

AA...thanks! will look into that now.!!!


.... any particular account? (obviously haven't looked yet, so forgive me if question is superfluous!!)

Internet saver 14 is the currently available one. It looks like you have to open it with £1k but it can be run with a minimum £1 balance so withdraw £999 after opening.
I used an existing account that I had opened some years back and left running with £1 balance.

afmfifgh

You also have to make the first AA payment on that account by cheque it looks like and then going forward it is by DD.

It seems you can set the Lloyds Club Account up with 2 Direct Debits from the same company etc. Lloyds said this:

As long as they are 2 separate Direct Debits, with their own references etc; it shouldn't matter.

The shouldn't bit though is a little worrying but should be fine it seems.

afmfifgh

adindas wrote: »

1. People have reported, the first deposit need to be by cheque ? is it still true based on your experience ?

3.2 After your first payment in by cheque (referred to in condition 2.3) any payment in must be made by direct debit from your linked account and deposits by cheque will not be allowed.

adindas wrote: »

2. Also do they allow multiple DDs ?

Don't think so:

A linked account must be a personal current account with direct debit facilities at a UK bank or building society.....If you wish to change your linked account details, you may amend them by deleting the original and adding another while online.

Source: http://www.theaa.com/savings/internet-savings-account.html#tabview%3Dtab3

adindas

afmfifgh wrote: »

3.2 After your first payment in by cheque (referred to in condition 2.3) any payment in must be made by direct debit from your linked account and deposits by cheque will not be allowed.



Don't think so:

A linked account must be a personal current account with direct debit facilities at a UK bank or building society.....If you wish to change your linked account details, you may amend them by deleting the original and adding another while online.

Source: http://www.theaa.com/savings/internet-savings-account.html#tabview%3Dtab3

Thanks. Do not know about other people opinion but to me it is too much hassles to originate DD from this account as initial payment need to be by cheque for just maximum of one DD. Unless of course if you already have the account ready.

10_66

I was planning to set up my two DD's for the Club account to Tesco Internet Savers, one of which is in my name and the other is OH's. The reverse was going to be done for OH's Club account. I was just going to set them up, when I see on Tesco's manage money page that the DD can only be set up from an account in the same name as the Tesco account (ie I can't set up a DD to my Tesco from OH's Club account). I'm stuck now. It's been a loooonnnggg day, and I'm flagging.............:(

xxdeebeexx

Did anyone else get interest on their account?


I got 44p interest today...


dx

10_66

10_66 wrote: »

I was planning to set up my two DD's for the Club account to Tesco Internet Savers, one of which is in my name and the other is OH's. The reverse was going to be done for OH's Club account. I was just going to set them up, when I see on Tesco's manage money page that the DD can only be set up from an account in the same name as the Tesco account (ie I can't set up a DD to my Tesco from OH's Club account). I'm stuck now. It's been a loooonnnggg day, and I'm flagging.............:(

Is it too long a shot to try to set them up anyway now I've opened the flippin' Lloyds accounts (desperate measures!).