Direct debits for Club Lloyds

DreamerFTB

I created a Club Lloyds with £5k this weekend but I have got a problem setting up 1 more direct debit to get interest for this month. I have succesfully set up one with PayPal (hope it's fine with paypal!) but I cannot find anything else!

I created the 2 Tesco Saving this weekend but they are too slow, I have to send them back documents that I don't have right now (they want a bank statement of my bank but I am paperless! 5 business days for HSBC to send me one!) so they'll hardly be activated by the end of the month.

I couldn't find a charity that bills after the 18th (!).

I don't have bills or telephone contract that I can transfer.

Any idea how could I solve this before the 31th? Is there a thread that list all the possible DD? Couldn't find it

Thanks!

eskbanker

DreamerFTB wrote: »

Is there a thread that list all the possible DD? Couldn't find it

Stretching a point to claim all possible options but try https://forums.moneysavingexpert.com/discussion/5126573

Archi_Bald

As far as I remember, Lloyds give you something like a month's grace to set up your DDs.

YorkshireBoy

Archi_Bald wrote: »

As far as I remember, Lloyds give you something like a month's grace to set up your DDs.

I think it's nearer 8 weeks (for both the funding to avoid the fee and the DDs), maybe depending on the time of the month you open/upgrade the account?

DreamerFTB

Thanks for the info guys. Do you know if setting up 2 PayPal DDs would work too? I have got another one at my gf name

YorkshireBoy

DreamerFTB wrote: »

Thanks for the info guys. Do you know if setting up 2 PayPal DDs would work too? I have got another one at my gf name

I've never had a paypal account, but wouldn't that mean you have to buy something each month through paypal? Or load an account paying no interest?

Why not simply open a Tesco savings account or two...and keep your money in your pocket (so to speak)?

DreamerFTB

YorkshireBoy wrote: »

I've never had a paypal account, but wouldn't that mean you have to buy something each month through paypal? Or load an account paying no interest?

Why not simply open a Tesco savings account or two...and keep your money in your pocket (so to speak)?

You can setup a DD with PayPal and pull money out (and they'll still be yours, but in your PP account). For Tesco please read my first post.

YorkshireBoy

DreamerFTB wrote: »

You can setup a DD with PayPal and pull money out (and they'll still be yours, but in your PP account).

OK.

For Tesco please read my first post.

For 'why is that a problem?', please read Archi's and (especially) my posts above.

YorkshireBoy

DreamerFTB wrote: »

Do you know if setting up 2 PayPal DDs would work too? I have got another one at my gf name

You already have a paypal account. Why not read your T&Cs to see if the 'nominated account' has to be in your name or if it can be in the name of someone else?

DreamerFTB

YorkshireBoy wrote: »

You already have a paypal account. Why not read your T&Cs to see if the 'nominated account' has to be in your name or if it can be in the name of someone else?

It's not mentioned and that's why I am asking, to double check with you guys.

Also for the month/8 weeks grace, it doesn't seem you are very sure?

YorkshireBoy

DreamerFTB wrote: »

Also for the month/8 weeks grace, it doesn't seem you are very sure?

Firstly I believe I said "it's nearer 8 weeks"...not "it is 8 weeks".


And the reason I'm non-committal as to the EXACT duration is that a) I haven't done a forum search to see what the Lloyds Rep has said repeatedly on here in previous threads about the waiver period, and b) I haven't gone to the Club Lloyds T&Cs and taken a look (where you'll find, or be able to deduce, the answer/verification you seek).


Then again, I don't need to...but you possibly do.