Direct debits and current account

Jams91

YorkshireBoy wrote: »

You have £9K now, which fills the accounts you've already opened (2 x £2K plus 1 x £5K).

Where would you put new money (saved from income) if you didn't open another account now? May as well make 4-5% on it! But do as I say...take out £1K of the Lloyds cash (you'll still get 4% AER on the remaining) and spread it around the 5% accounts. Then, after filling the 5% accounts (with another £1.5K), replenish Lloyds account back to £5K.

Will do. thanks

ceredigion

Jams91 wrote: »

I read on here that you can set up a DD from any account to a Tesco savings account. Can you only do that with some bank accounts and not others?

DDs to paypal and Tesco will be fine, but that isn't what you initially said

YorkshireBoy

Jams91 wrote: »

I read on here that you can set up a DD from any account to a Tesco savings account. Can you only do that with some bank accounts and not others?

You can do that with any current account that supports DDs.

Jams91

ceredigion wrote: »

DDs to paypal and Tesco will be fine, but that isn't what you initially said

Looks like I will have to set up a Tesco Account too now then.

Does the paypal DD work by setting up paypal to take £1 a month out of your current account? Or do I need to make an ebay purchase once a month for each account?

Jams91

YorkshireBoy wrote: »

You can do that with any current account that supports DDs.

Is there a list anywhere of current accounts that do?

dzug1

Jams91 wrote: »

Is there a list anywhere of current accounts that do?

I can't think of a current account that doesn't support DDs. Maybe some 'basic' accounts


Remember it's the payee that sets up a DD, not you. You authorise it to be set up - but it's the payee that does it, and subsequently takes payments.

Newly_retired

You could be generous and set up a small DD donation to your preferred charity.