Savings accounts deposits by Direct Debit? UPDATED

gdreyer

Zanderman wrote: »

I doubt it. I think the PO, like the vast majority of savings acounts that allow pay-ins by DDs (and those are diminishing rapidly) only allow 1 DD per account.

You could, of course, just set up another PO internet saver, if they will let you do that.

Thought so, thanks for confirming!

colsten

Zanderman wrote: »

You could, of course, just set up another PO internet saver, if they will let you do that.

I seem to remember that the 1 nominated account from which you can pull money by DD applies to all the savings accounts. So multiple PO savings accounts won't help.

pmjenkins

colsten wrote: »

I seem to remember that the 1 nominated account from which you can pull money by DD applies to all the savings accounts. So multiple PO savings accounts won't help.

I'm afraid you're wrong. I have several PO accounts (even two of the same issue) all with different nominated bank accounts.

Vortigern

NoodleDoodleMan wrote: »

Would a paper mandate form do the business ?

http://www.tescobank.com/assets/sections/onlinebanking/pdf/online_savings_ddi.pdf

I believe the above form is intended to set up a DD to pull cash into a Tesco savings account from a current account held elsewhere.

I doubt they would allow you to pull money into a Tesco current account from elsewhere but you're welcome to try.

Let us know how you get on.

NoodleDoodleMan

How does that help? A DD needs to be pulled by an institution of some sort - and they will have online forms of their own. A form by itself does nothing unless there is a mechanism to pull the DD

I don't know if a Tesco current account can be funded by DDs or not.

If they can, then that official Tesco Bank mandate form indicated may well do it ?

There's nothing on it, as far as I can see, that states it's only for savings accounts only.

ColdIron

NoodleDoodleMan wrote: »

I don't know if a Tesco current account can be funded by DDs or not

They can't, hope that helps

soulsaver

NoodleDoodleMan wrote: »

http://www.tescobank.com/assets/sections/onlinebanking/pdf/online_savings_ddi.pdf

There's nothing on it, as far as I can see, that states it's only for savings accounts only.

Clue in the link "... online_savings_ddi"

NoodleDoodleMan

Cheers.

I didn't think it was possible - now confirmed.

Merlin's_Beard

Would a charity accept a DD then decide it wasn't enough to take?

6x DDs (all £1) set up for 3x Vantage accounts last month - the DDs are showing on the accounts, but no money has been taken yet (3x Cancer Research were due on the 5th, 3x PDSA which I thought were due early in the month)

Consumerist

Merlin's_Beard wrote: »

Would a charity accept a DD then decide it wasn't enough to take?

6x DDs (all £1) set up for 3x Vantage accounts last month - the DDs are showing on the accounts, but no money has been taken yet (3x Cancer Research were due on the 5th, 3x PDSA which I thought were due early in the month)

They take a couple of weeks to set up so you might have missed any set up for collection early this month. If that's the case it might be next month before they are called again.