Easy direct debits for 123 account?

WGPA

Hi all,

Just realised I don't really have any direct debits from my current account as most house related expenditure comes from a joint account.

Are there any ways of manufacturing some between bank accounts or similar? Just looking to get 2 fairly quickly to qualify for the interest.

Cheers

anselld

Open a Tesco savings account.

ceredigion

paypal.....

ceredigion

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

YorkshireBoy

anselld wrote: »

Open a Tesco savings account.

2 would be better.

Hominu

Or open a few credit cards and set them all to payment by direct debit. I've got a few like this (no longer use the cards, but good enough for S123)

will-he-payitoff

Just realised I don't really have any direct debits from my current account as most house related expenditure comes from a joint account.

Do any of these DD qualify for cashback from the 123 ie gas, electric phone etc if so move them. If you need DD for the joint account just replace them with tesco or CC

eskbanker

Hominu wrote: »

Or open a few credit cards and set them all to payment by direct debit. I've got a few like this (no longer use the cards, but good enough for S123)

Workable for a finite period but if DDs are cancelled after 13 months due to dormancy then this approach isn't sustainable over longer periods (unless you keep opening more credit cards!) - it's also only suitable if your credit rating can stand multiple sources of unused credit....

Vortigern

Hominu wrote: »

Or open a few credit cards and set them all to payment by direct debit. I've got a few like this (no longer use the cards, but good enough for S123)

eskbanker wrote: »

Workable for a finite period but if DDs are cancelled after 13 months due to dormancy then this approach isn't sustainable over longer periods (unless you keep opening more credit cards!) - it's also only suitable if your credit rating can stand multiple sources of unused credit....

Just make a small purchase every few months on the CC.

Apparently needs to be >£1.50 otherwise it may be written off as a trivial balance

WGPA

Thanks for the advice, I'm changing my credit card to that account so that's a monthly DD. I currently charge my Paypal & iTunes to my credit card, but could set these up to the bank account.

Does the 123 require the DD to have a value every month? Often my Paypal won't have anything coming off it.

Steve_xx

WGPA wrote: »

Does the 123 require the DD to have a value every month? Often my Paypal won't have anything coming off it.

Seemingly not.