Direct Debits for switch incentive

michele-p

Does anyone know how long a new direct debit takes to show up in a bank account? I have an empty Nat West account, I set up 2 x charity direct debits on Jan 12th, as I want to switch to TSB for their offer. My Nat west is still showing as having no Direct Debits set up.

Just wandering how much longer they will take to show up?

I've transferred money into the account to cover them

colsten

Totally depends on when the bank gets told about the DD. It could be anything from a few days to a few weeks, and most take about a fortnight or so.

michele-p

OK, thanks, I'll just have to be a bit more patient! I"ll make sure they are definitley active before I apply. I was recently refused a referral to Nationwide as other half hadn't seen the 2 DD rule! Don't want to miss out again.

YorkshireBoy

It's been posted before that charity DDs can and do take a while to register.

Were you being referred for the Nationwide account or referring your partner? It's really the responsibility of the person being referred to familiarise themselves with the T&Cs, but if the referrer is the 'driver' then they should really have pointed this out! Nothing to stop you trying again though. After all, it's a free £200!

If you're planning on going for all the switching incentives requiring DDs, or the accounts requiring DDs for interest/rewards etc, then there are far better/easier ways of acquiring DDs.

michele-p

I referred my OH to Nationwide, but it was the first week of the offer. I'm sure I didn't read the need for 2 DDs at the time, but it was on the terms when I re-read them after finding out we were refused the credit! The account switched anyway, so not too worried about that one.

Yorkshire Boy, what would you suggest as a better way to add DD's to a donor account? I'd be keen to find out!!

YorkshireBoy

For as long as I can remember there's been the 2 DD rule. The only recent change is the once per year clause. Prior to that it was possible to switch many times a year...and many did! Nothing to stop you/him going for another Nationwide RAF switch though.

Re the better option, use a savings account that takes deposits by DD. There are a few around, but almost every other post on here discussing switching (where DDs are required) recommends just one in particular. Shouldn't be too hard to find.

michele-p

Thanks Yorkshire Boy, this is my first trip into the banking area, I normally just hang out in the holiday section... Hoping to fund a new holiday with some banking shenanigans,

YorkshireBoy

michele-p wrote: »

Hoping to fund a new holiday with some banking shenanigans,

It's a nice feeling. I funded 2 of my holidays last year with my "banking shenanigans". I was going anyway, but enjoyed them all the more knowing someone else had paid for them.