Standing orders to cover minmum monthly payments

vixen1500

Thought I would set up Standing orders to cover monthly minimum payments required on my current accounts.


I know Santander & Nationwide has to be an external payment.

Think Lloyds, Halifax & Halifax bank of Scotland can be either, just wondering about the TSB both plus & enhance accounts

colsten

You asked the same here https://forums.moneysavingexpert.com/discussion/5141214.

Wouldn't it be easier to check the T&Cs? It would certainly be safer as banks don't go by what people post on internet forums.

vixen1500

colsten wrote: »

You asked the same here https://forums.moneysavingexpert.com/discussion/5141214.

Wouldn't it be easier to check the T&Cs? It would certainly be safer as banks don't go by what people post on internet forums.

First question was asking if there was anywhere on the site that had the information. - obviously not


Second post
Have been looking through T&Cs and had now found managed to find most of the info - just wanted to check about the TSB as upto then still not managed to find the info

jonesMUFCforever

A lot of banks say you need direct debits not standing orders eg Club Lloyds.

anoncol

jonesMUFCforever wrote: »

A lot of banks say you need direct debits not standing orders eg Club Lloyds.

TSB doesn't need either, but does require a deposit for interest.

mgdavid

vixen1500 wrote: »

...... just wondering about the TSB both plus & enhance accounts

AIUI TSB Classic Plus requires you to pay in £500 per month, I transfer it straight out again.

vixen1500

jonesMUFCforever wrote: »

A lot of banks say you need direct debits not standing orders eg Club Lloyds.

yes I realise that some required direct debits. The standing orders I am wanting to set up is the cover the minimum monthly payments in required. Want to set them up so as not to have to move the money around manually each month.

vixen1500

anoncol wrote: »

TSB doesn't need either, but does require a deposit for interest.

Just trying to find out if the monthly deposit can be a transfer from another TSB account or has to come from another (external) source.

Archi_Bald

The T&Cs will state if the monthly deposit has to come from a non-TSB account.

YorkshireBoy

vixen1500 wrote: »

Just trying to find out if the monthly deposit can be a transfer from another TSB account or has to come from another (external) source.

Are you still trying from earlier today? If so, why?...the T&Cs for both your TSB accounts are available on their website. Would you like a pointer?

vixen1500

YorkshireBoy wrote: »

Are you still trying from earlier today? If so, why?...the T&Cs for both your TSB accounts are available on their website. Would you like a pointer?

Yes, been searching trying to get these sorted so that everything will be done automatically instead of making manual payments in and out every month. Also wanted to set up payments out to cover monthly interest so that I don't have money sitting in the accounts which is not getting interest.


Just gets so complicated with each account having different rules about DD, monthly minimums etc.


Any help would be appreciated
Many Thanks