Savings accounts deposits by Direct Debit? UPDATED

masonic

waqasahmed wrote: »

If you can get 3.5% on an easy access account, that'd be amazing!

They don't actually say that though, do they? Presumably the fixed term accounts have a different rate to their easy access account and none of these accounts necessarily attract their internal "base rate". From the lack of clarity alone, I wouldn't touch this with a bargepole. Who knows what else they aren't telling us.

waqasahmed

masonic wrote: »

They don't actually say that though, do they? Presumably the fixed term accounts have a different rate to their easy access account and none of these accounts necessarily attract their internal "base rate". From the lack of clarity alone, I wouldn't touch this with a bargepole. Who knows what else they aren't telling us.

It's all quite vague tbh. Tbh, they're pretty well trusted in Pakistan itself. But you're right about the lack of details in their UK bank

I would have thought so too tbh, that the easy access accounts would get less interest

This being said, a lot of Pakistanis prefer the likes of..Barclays, because the British banks do tend to be better at actually providing a good service

Though Pakistan itself is a divided nation with the "liberals/modernists" on one side, and the more religious/conservative people on another, which may well explain why banks like Habib bank are quite popular (In Pakistan they're a purely Islamic bank)

Slight tangent...

chaotic_j

Hello,

Does anyone have a link to the Santander eSaver Direct Debit Mandate form please?

Kind regards,
chaotic_j

Vortigern

chaotic_j wrote: »

Does anyone have a link to the Santander eSaver Direct Debit Mandate form please?

See post 10 on the first page of this thread.

If you want to try your luck, you have to ring and ask for the form to "pull money in from an external account."

benutzername

Are there any other accounts that offer multiple direct debits to be set up, other than tesco?

I live with parents and don't pay any bills, thus no direct debits!

AndyTh_2

Paypal supports creating multiple direct debits from different accounts. It's manual though, not able to be set up as a recurring payment. So you'd have to login and transfer 1.00 every month.

I previously used that before reading these posts today.

Zanderman

waqasahmed wrote: »

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List of savings accounts providers that allow, and don't allow, deposits by Direct Debit (as opposed to by SOs, debit cards etc etc).

Please add a reply if you have anything additional to report, or if you spot something incorrect. I will update this post as appropriate so we got the list all in one place.

Providers with Direct Debit feed:

• Aldermore (by posting filled-in form, printed from site)
• AA (1st deposit by cheque)
• Egg (Yorkshire BS; allowing multiple DDs on same account)
• Bank of Ireland Websave
• BM Savings (existing accounts only)
• Britannia BS
• Cheshire BS http://www.thecheshire.co.uk/Customer-services/Download-forms/Direct-Debit-forms/. Might only be for mortgages and insurances
• First Save
• ICICI
• Intelligent Finance
• Monmouthshire Building Society (must use paper forms)
• Nationwide Mysave (1 DD only)
• Post Office (online set up)
• Principality BS [STRIKE] (can have more than one linked account; to set up, call 029-2038-2000, or send paper forms. As of 01/04/2012, apparently no new DDs can be set up) [/STRIKE] Being withdrawn as of 08/03/2015
• Saga (if you are 50+; 1st deposit by cheque)

Many of the accounts with DD faclities listed in the first post (above) no longer exist or no longer accept new customers (some of them closed some time ago) - so an updated Post 1 would be useful.

I've just looked into a few of them:

• AA - can still be done, but minimum £1000 to open account (can fall below that later though, with lower interest)
• Egg - no longer exists for new customers
• Bank of Ireland Websave - not on their website, but an application form is available if you Google. But that comes up with error for me so it may be just a fossilised site.
• Britannia BS - no longer exists for new customers
• Intelligent Finance - no longer exists for new customers
• Nationwide Mysave - not on their website
• Saga - couldn't find a suitable account on their website, apart from one needing £1000 minimum

Post Office is still good for DDs, and Scottish Widows and, of course, Tesco

waqasahmed

Zanderman wrote: »

Many of the accounts with DD faclities listed in the first post (above) no longer exist or no longer accept new customers (some of them closed some time ago) - so an updated Post 1 would be useful.

I've just looked into a few of them:

• AA - can still be done, but minimum £1000 to open account (can fall below that later though, with lower interest)
• Egg - no longer exists for new customers
• Bank of Ireland Websave - not on their website, but an application form is available if you Google. But that comes up with error for me so it may be just a fossilised site.
• Britannia BS - no longer exists for new customers
• Intelligent Finance - no longer exists for new customers
• Nationwide Mysave - not on their website
• Saga - couldn't find a suitable account on their website, apart from one needing £1000 minimum

Post Office is still good for DDs, and Scottish Widows and, of course, Tesco

Hey!

Thanks for the quote (And more importantly the PM). Updated the OP to reflect the above

Nationwide mysave looks like it does exist for existing customers, looking at the wording of this:

http://www.nationwide.co.uk/support/support-articles/faqs/my-save-online-manage-your-account-faqs#xtab:twistyitem1-can-i-open

AndyTh_2

waqasahmed wrote: »

Nationwide Mysave (1 DD only) - Looks like for existing customers only.

Why does this one mention 1 DD only? Do the others that don't mention having multiple direct debits not also only allow 1 DD only?

SephirothXI

Been reading through the forums but I am still a little confused.

I understand that to open say a Santander 123 account I need to pay in at least £500 per month (my salary) and 2 direct debits.

I also understand that Tesco's savings account is a good bank for direct debit payments. But that's only one.

Is it possible to have two direct debits from the same Tesco savings account or do I need a second Tesco account? I'm not sure why Tesco would let me have two accounts, or do people do it in other people's names (say their partner?)

I want a Santander 123 account but I don't pay my bills directly so have no direct debits like that. I also don't have a partner I can use.