2 direct debits

xirokx

Hey there,

I am switching current account to co op standard current account to be eligble for the £100 cash and £25 charity reward.

I need 2 direct debits, I do not have any....

Can you recommend with whom I can easily setup 2 seperate direct debits please?

Dont worry I am not switching my main account to CO OP just one I opened up off the cuff.

Thanks in advance...

P.S. do they pay out easily after 31 days or are they a pain?

Thanks for all your help

MARTYM8`

The usual answer is open a Tesco savings account - and set up a direct debit online when you open the account. They have two separate savings accounts - so you can set up 2 direct debits that way.

If you set them up now Tesco can normally get them up and running and withdrawing from your switch account within a week or 10 days. And then just withdraw the cash from your savings account straight away if you need the funds. A few building societies do this as well for regular savers.

Another option is setting up a direct debit to pay off the minimum/entire balance on your credit card.

Both options - which cost you nothing - and should happen each month!

PS Do you have an account with the Halifax - they are a switching alternative and don't need DDs. You would get £100 with them - and possibly more if you use a cashback site?

xirokx

Thanks for your reply.

In order to avoid having loads of accounts is there another option other then setting up a direct debit to pay my credit card?

I thought there was also a possibility using paypal and registering with red cross or something like that?

I do not have a halifax account, they are next on my list

colsten

There are lots of ways to get a couple of extra DDs. The easiest is as described by MARTYM8`.

grumbler

However, the simplest way is to change a couple of existing DDs temporarily/permanently to the account being switched (ultimately to Halifax).

After all, Halifax account requires monthly credits and DDs processed every month for its monthly fiver.

xirokx

colsten wrote: »

There are lots of ways to get a couple of extra DDs. The easiest is as described by MARTYM8`.

care to share a few ideas that do not require opening additional accounts?

However, the simplest way is to change a couple of existing DDs temporarily/permanently to the account being switched (ultimately to Halifax).

I dont have any to change over

MARTYM8`

xirokx wrote: »

care to share a few ideas that do not require opening additional accounts?



I dont have any to change over

Do you have a mobile phone or telephone/broadband contract, Sky tv, pay utility bills by direct debit, have magazine subscriptions etc etc

You can just ask to amend the DDs on these - although its fiddly and more hassle than the Tesco savings route.

Or set up new payments for other things e.g. a magazine sub or charity donation or whatever. But they all cost you extra money if you are just doing them to have DDs - my two suggestions cost nothing.

grumbler

xirokx wrote: »

care to share a few ideas that do not require opening additional accounts?

Donations to charities - this is the only I can imagine that doesn't require any your accounts.

For your existing accounts it can be Paypal, credit card, mobile contract, store card, but remember two have to be paid every month if you want to get £5s.
How come you don't have any DDs?

Also, you can register with 18185 telephone service that can be useful and can be paid by a DD if you use the service. I guess 1899 and 18866 are similar. However none collects the DD monthly. Normally they wait until the amount you owe builds up to ~£1.50-£2

colsten

xirokx wrote: »

care to share a few ideas that do not require opening additional accounts?

What's your objection to 2 Tesco savings accounts? They are the simplest of accounts to set up, and the most economic way to acquire any number of DDs - and the beauty is, the money stays yours.

But obviously, if you prefer to pay money to someone else, there are hundreds of charities, magazine subscriptions, political parties, club memberships etc etc etc that all accept DDs.

xirokx

What's your objection to 2 Tesco savings accounts? They are the simplest of accounts to set up, and the most economic way to acquire any number of DDs - and the beauty is, the money stays yours.

The number of accounts I have is ever increasing and its hard to keep tabs on them. I suppose it would be handy to have as the money remains mine.

So you recommend setting up 2 indiviudal Tesco savings account.

Tesco do so many different savings account - which one do I need?

Which two do you precisely recommend from here? Bearing in mind all I want to do is set them up to be elgible for having met the switch criteria.

Thanks

YorkshireBoy

xirokx wrote: »

The number of accounts I have is ever increasing and its hard to keep tabs on them. I suppose it would be handy to have as the money remains mine.

So you recommend setting up 2 indiviudal Tesco savings account.

Tesco do so many different savings account - which one do I need?

Which two do you precisely recommend from here? Bearing in mind all I want to do is set them up to be elgible for having met the switch criteria.

Thanks

internet saver and instant access savings account. One of each or two of the same.

Does that tally with what you thought, based on your own reading/research?