Savings accounts deposits by Direct Debit? UPDATED

ceredigion

notpennyless wrote: »

Can someone help me with a few questions:

1) For the Halifax Rewards account to get the £3 benefit per month do you have to have two MONTHLY direct debits or two ACTIVE direct debits?

"
£3 reward each month you pay in £750 or more, pay out at least 2 different direct debits and stay in credit. If in any month you miss out on the £3 reward, you can still get it in future months too (when you meet the qualifying requirements)."

2) Does an active direct debit mean you could do a transaction once in a while like every year or more and it still counts or does it need to be more frequent?

Yes

3) With using Paypal as a direct debit, is linking the account enough to count as a DD or do you need to purchase goods with it frequently?

No and no

4) Is there an option to transfer a pound a month to your paypal account through the DD or is it only used for purchasing goods?

Yes and no

Thanks in advance [/QUOTE]
........................

YorkshireBoy

ceredigion wrote: »

Yes

It's no and yes isn't it? (Question related to the £3 Reward payment I believe).

ceredigion

YorkshireBoy wrote: »

It's no and yes isn't it? (Question related to the £3 Reward payment I believe).

In relation to Q2, I'd go for yes, no and yes.
But we both know it depends where you put the full stop that is not there.

YorkshireBoy

ceredigion wrote: »

In relation to Q2, I'd go for yes, no and yes.
But we both know it depends where you put the full stop that is not there.

I put a (virtual) comma in there.


Maybe the poster can check on the Halifax website and let us know what the correct answer is?

ceredigion

YorkshireBoy wrote: »

I put a (virtual) comma in there.


Maybe the poster can check on the Halifax website and let us know what the correct answer is?

That is twice you have said this to a poster to night, and again we both know that this will never happen. :sad:

notpennyless

Thanks for the replies. A monthly DD it is then.

For your answer to Q4, how do you go about setting up a £1 payment to PayPal once a month from a current account? I am guessing this need to be done through my paypal account but cannot find how.

chockydavid1983

I think I read on here at some point that it has to be done manually and can't be set up as a regular payment.

ColdIron

That's right, PayPal DDs do have to be done manually, you can't automate them

notpennyless

With my recently opened Halifax account I was told to add Vantage to get the £3 per month.

Looking at my account I have a Reward Current Account bank account and a Classic Vantage bank account (each with different sort-codes and account numbers).

Now which bank account do I need to have £1000 paying into and the 2 DD coming out of to get the £3 per month?

Consumerist

notpennyless wrote: »

With my recently opened Halifax account I was told to add Vantage to get the £3 per month.
Looking at my account I have a Reward Current Account bank account and a Classic Vantage bank account (each with different sort-codes and account numbers).
Now which bank account do I need to have £1000 paying into and the 2 DD coming out of to get the £3 per month?

All accounts require 2 DDs to be paid out each month. The Reward account requires a minimum of £750 pm paid in and the (BoS) Vantage accounts require £1,000 pm paid in.