NEW BLOG. Featuring tips and pics from pet owners of the MSE Forum, we present to you Homemade pet toy ideas. Take a look
Savings accounts deposits by Direct Debit? UPDATED
edited 15 April 2017 at 11:01PM in Savings & investments
381 replies 209.6K views
This discussion has been closed.
Latest MSE News and Guides
Energy Price Cap change
Martin Lewis on what it means for youMSE News
Best £1 you've ever spent?
Share your most impressive bargainsMSE Forum
New MSE Forum avatars available
Try 'em out nowMSE Forum
The DDs don't have to pull each month, merely be set up. Just make sure you pull a couple of DDs through the year to ensure the DDIs don't lapse under the dormancy rules.
Probably going to pull my money out of my ISA and go the current account route since ISA rates this year are even worse than last. Though I do have over £20k in my ISA so this isn't the only solution. I don't mind pulling it out as it's a short term thing - until I buy a house.
No. It makes no sense at all.
You can set up to two Tesco current accounts (and earn interest in them if you meet their terms), but like any other current account, Tesco current accounts cannot be used to pull money from other current accounts.
Tesco savings accounts are the most useful, with their options for more than one DD, but I'm guessing from reading the thread that there's nothing else still available to new customers offering that sort of flexibility?
I'm looking ideally for another equally flexible account from which to create the second DDs normally required on a paid switch - looks like AA or the Post Office are the only (less flexible) options still available?
Or has anyone found anything better lately?
Intelligent Finance - just managed to resurrect my old current account with them, but there's apparently no way to set up a Direct Debit for deposits to be made in from another account.
I can't help with any accounts similar to Tesco savings accounts, but if you simply need 'active' DDs, rather than 'monthly paying' DDs, PayPal works well.
Too much of a faff for me to use it for monthly paying DDs, as there is no way to automate it, so manual intervention is required
As and if these no longer suffice, you will probably have to pay for anything that does regular DDs. I'll cross that bridge if we ever come to it.
Do you by chance have an old Egg Savings account, or a YBS offset mortgage?