Low direct debits

vouch0r

Hello,

looking to open a few current accounts but now looks like i need DD to come out of them... id rather not mess with my current DDs so looking to set some up but im not sure what for..

any suggestions?

PeacefulWaters

Tesco, BM, Saga and AA savings accounts.

Charities of your choice.

Utilise multiple credit cards.

LuSiVe

Don't use charities for very low direct debits, it's not fair as it costs them money to administer.

PeacefulWaters

LuSiVe wrote: »

Don't use charities for very low direct debits, it's not fair as it costs them money to administer.

While I would encourage more significant charitable giving, a direct debit costs a matter of pennies to administer.

Many charities will insist on a minimum contribution of £2 a month or so. I think you can rest assured that if the charity doesn't want small donations they will build something into their processes to avoid them.

Lobbying online to stop people donating to charity seems a bit odd.

Archi_Bald

PeacefulWaters wrote: »

Lobbying online to stop people donating to charity seems a bit odd.

I don't think this is what has been suggested.

PeacefulWaters

Archi_Bald wrote: »

I don't think this is what has been suggested.

Perhaps I worded it badly. But a post that suggests not giving to charity based on inaccurate financials that's been read by over a hundred people isn't good for charity.

pmduk

PeacefulWaters wrote: »

While I would encourage more significant charitable giving, a direct debit costs a matter of pennies to administer.

it isn't so much the administration cost more as the bank charge on the transaction.

vouch0r

PeacefulWaters wrote: »

Tesco, BM, Saga and AA savings accounts.

Charities of your choice.

Utilise multiple credit cards.

thanks for that, will use a couple.

so its mainly savings accounts thats allow a DD payment, perfect

PeacefulWaters

pmduk wrote: »

it isn't so much the administration cost more as the bank charge on the transaction.

Which is an administration cost.

Bulk processing of direct debits is dirt cheap and the charity will be comfortably up on the deal for a £1 donation.

Many people switching bank accounts will be inclined to donate more than the minimums.

Hazzanet

PeacefulWaters wrote: »

While I would encourage more significant charitable giving, a direct debit costs a matter of pennies to administer.

Many charities will insist on a minimum contribution of £2 a month or so. I think you can rest assured that if the charity doesn't want small donations they will build something into their processes to avoid them.

Lobbying online to stop people donating to charity seems a bit odd.

There are a number of charities that aren't so savvy and don't insist on a minimum amount; most of these use Direct Debit Bureaux which, in general, charge 20-45p per transaction and £1 to set up the direct debit in the first place. Therefore, those setting up the 1p donations (and there have been instances of this on the board) actually end up costing the charity money.

LuSiVe

Yeah, those were the ones I was thinking of.