Savings accounts deposits by Direct Debit? UPDATED

Ed-1

Consumerist wrote: »

Since the Vantage conditions specify "different" DDs, it would be safest to assume they must be paid to different accounts. No-one seems too sure of what this means exactly.

Many have two Tesco savings accounts from which they qualify - same company but different accounts.

2 direct debit mandates is what the system checks. 2 must be set up (regardless of who they're to) and both must be used each month.

Consumerist

Ed-1 wrote: »

2 direct debit mandates is what the system checks. 2 must be set up (regardless of who they're to) and both must be used each month.

One has to wonder what the word "different" actually means in this context.

How would you set up two "same" DDs, for example?

Eco_Miser

Consumerist wrote: »

One has to wonder what the word "different" actually means in this context.

How would you set up two "same" DDs, for example?

A DD drawing fortnightly would be two (or occasionally three) "same" DDs each month.

wurz72

I've just logged into my PayPal account and they have removed the direct debit option under "Withdraw money" section. There used to be two choices under there - direct debit or bank transfer. Now there is only one option...a bank transfer.

I just transferred some money to my bank account and it no longer shows up as a direct debit.

Anyone else noticed this? Paypal was rather useful as you could send one off DDs to multiple bank accounts!

surreysaver

wurz72 wrote: »

I've just logged into my PayPal account and they have removed the direct debit option under "Withdraw money" section. There used to be two choices under there - direct debit or bank transfer. Now there is only one option...a bank transfer.

I just transferred some money to my bank account and it no longer shows up as a direct debit.

Anyone else noticed this? Paypal was rather useful as you could send one off DDs to multiple bank accounts!

Surely you can't withdraw money with a direct debit - you would use a direct debit to pay it in?

wurz72

surreysaver wrote: »

Surely you can't withdraw money with a direct debit - you would use a direct debit to pay it in?

You definitely could...even though it does sound a bit odd. I suspect they've removed it as it was proving expensive to administer!

Ed-1

wurz72 wrote: »

You definitely could...even though it does sound a bit odd. I suspect they've removed it as it was proving expensive to administer!

You can still use a direct debit to pull money in to your PayPal account from your bank account. You can't withdraw money from PayPal to your bank account by direct debit and you never have been able to as you can't set up a direct debit on your PayPal account.

ColdIron

I still have DD as an option in 'Add Money' but I don't remember it ever being an option under 'Withdraw Money'. Are you confusing the two?

wurz72

ColdIron wrote: »

I still have DD as an option in 'Add Money' but I don't remember it ever being an option under 'Withdraw Money'. Are you confusing the two?

Yes I am :-) It was late last night! You're correct it's under "Add Money". However I've just tried it and it doesn't work anyway....I get an error "Sorry, we're unable to process your request."

Maybe they put a limit on the number of DDs you can do per month? I have used it twice to pay in funds from CoOp bank and once with Tesco Bank. Now it won't work with either.

ceredigion

wurz72 wrote: »

Yes I am :-) It was late last night! You're correct it's under "Add Money". However I've just tried it and it doesn't work anyway....I get an error "Sorry, we're unable to process your request."

Maybe they put a limit on the number of DDs you can do per month? I have used it twice to pay in funds from CoOp bank and once with Tesco Bank. Now it won't work with either.

Well im glad im not the only one .
I have been using paypal to pull money from multiply accounts for years. Never had a problem until this month, now im getting the same error message as yourself. Wifes account is working fine and as nobody has said anything on these pages , thought it was just me. Been trying to communicate with paypal ,which is proving to be tortuous to say the least. They tell me the facility is there and there is no restrictions on my account. But cant explain the error message. The only way round i found in the short term at least was to send a pound from each of my bank accounts to my wife's paypal account , which all seemed to go through perfectly fine. I will keep onto them until i can get it sorted.