Bank to Bank direct debits

kookai9

Hi ;am looking to take advantage of the Halifax £5 reward Acc, have looked at the Faq's on a few of the bank sites, as would like to do Bank to Bank direct debits as I've heard other forum users say they have done this.
If I just do a standing order that wont surely be viewed by the other bank as a Direct debit
Am trying to find out how it works, as its not been taking out by a company .
Is there a way of doing it please ?

YorkshireBoy

You can't set up a direct debit on a current account (to pull money in). However, you can do so on 'some' savings accounts. Many people on here will be using Tesco savings account DDs for Halifax fivers, Club Lloyds interest, etc

kookai9

YorkshireBoy wrote: »

You can't set up a direct debit on a current account (to pull money in). However, you can do so on 'some' savings accounts. Many people on here will be using Tesco savings account DDs for Halifax fivers, Club Lloyds interest, etc

YorkshireBoy , thanks for that .Anybody know if possible with Tsb ,or nationwide ?:)

Archi_Bald

kookai9 wrote: »

YorkshireBoy , thanks for that .Anybody know if possible with Tsb ,or nationwide ?:)

If your Q is whether TSB or Nationwide offer savings accounts that allow deposits by DD, the answer is no.

If your Q is whether you can set up DDs on a Tesco savings account to pull money from TSB or Nationwide current accounts, the answer is yes. The answer is also yes for all UK current accounts.

bryanb

Archi_Bald wrote: »

If your Q is whether TSB or Nationwide offer savings accounts that allow deposits by DD, the answer is no.

If your Q is whether you can set up DDs on a Tesco savings account to pull money from TSB or Nationwide current accounts, the answer is yes. The answer is also yes for all UK current accounts.

Do you mean standing orders? If really direct debits how do you call for the money

Archi_Bald

I mean DDs. Setting them up will be self-explanatory if you have a Tesco savings account.

bryanb

Archi_Bald wrote: »

I mean DDs. Setting them up will be self-explanatory if you have a Tesco savings account.

I guess that's why I don't understand them then. I haven't got a Tesco account. Thanks.

pinkdalek

Do you use a credit card each month?
If so you could always set up a direct debit on the Reward account to clear it in full each month/or take minimum payment.

kookai9

pinkdalek wrote: »

Do you use a credit card each month?
If so you could always set up a direct debit on the Reward account to clear it in full each month/or take minimum payment.

My credit card is with a different provider:)

Steve_xx

kookai9 wrote: »

My credit card is with a different provider:)

How is that relevant? If you have a credit card, no matter whose credit card it is, then you can set up a direct debit mandate with Halifax so that it gets paid off each month and this will satisfy the requirement by Halifax to have one of two direct debit mandates set up on the Reward account.