quick question about direct debit

Delores

My BF and I are taking advantage of Nationwide's Recommend a friend deal to get £200 (comes very timely on the heels of my First Direct 6% interest deal).

I need to have two direct debits, and I'm a little short on those. However, when I pay for things by Paypal the money is pulled via DD to my account. Does that count, or does it generally need to be a recurring payment, like a bill?

Also my rent is set up as a standing order. Is it likely that would count?

TIA!

YorkshireBoy

PayPal counts as one DD.
Re your rent, a standing order is not a DD...it's a standing order!
If you need one more DD then some savings accounts will pull in funds by DD.
Alternatively, charities and/or National Lottery may be an option.

easymoney999

Can any recommend saving accounts with D/D payment option.

I know and have a Tesco Savings account is there any other similar?

eskbanker

easymoney999 wrote: »

Can any recommend saving accounts with D/D payment option.

I know and have a Tesco Savings account is there any other similar?

Yes, another Tesco savings account!

That probably sounds flippant but many on here, yours truly included, use one of their Internet Saver accounts and one Instant Access Savings account to provide two DDs, which keeps things simple and satisfies the criteria of the banks requiring two different DD mandates to qualify for interest. Some have also reported achieving the same with two of the same product rather than one of each.

Alternatively, there is a thread at https://forums.moneysavingexpert.com/discussion/5126573 with other options, although it hasn't been updated for a while....

easymoney999

Thanks, never even cross my mind to use the same bank.