Penny direct debits?

where_are_we

I`ve been pulling four £1 direct debits to Tesco savings accounts without any problems. No point in being "too" clever.

YorkshireBoy

where_are_we wrote: »

I`ve been pulling four £1 direct debits to ***** savings accounts without any problems. No point in being "too" clever.

I disagree. There's every point in trying not to appear to be taking the mick. And the more this particular account provider gets mentioned on here the greater the risk they'll pull the DD feature and/or close the accounts of those seen, in their opinion, to be abusing the facility(ies).

I can't do anything about the constant "mentioning", but I'm certainly making sure that my account isn't flagged up by any database query looking for £1 deposits!

adindas

YorkshireBoy wrote: »

I can't do anything about the constant "mentioning", but I'm certainly making sure that my account isn't flagged up by any database query looking for £1 deposits!

In this case make it £1.01, £1.02. £1.03, £1.04 for four DD. There is also advantage of doing this as 01, 02, 03, 04 could identifier to four accountant which is the money coming from.

In Most cases the Reference number is indicated but a few does not show the correct reference but bank own ref. So 01, 02, 03, 04 could work as identifier without people need to spend time to trace it.

planteria

badger09 wrote: »

May I ask, to which of your accounts you return 2 x £400 per month by direct debit?

i wondered that too..
fwiw i usually use £10/m DDs. and as it happens tend to let them build up in the accounts they are paid into. i cycle my money each month, leaving enough for the DDs, and every now & again it's nice to be able to make a withdrawal from one of them.

planteria

Kernel_Sanders wrote: »

Maybe he's after Co-op's £4 for 4 DDs account,...

i've not heard of that. but have a Co-op Bank current account that could be milked if that is on...:think:

B_G_B

planteria wrote: »

i've not heard of that. but have a Co-op Bank current account that could be milked if that is on...:think:

http://www.co-operativebank.co.uk/currentaccounts/everyday-rewards

planteria

thanks, yes, looked it up & thought it must be brand new, so started a thread to inform others...then told it's been around a few weeks now:o

spexs

badger09 wrote: »

May I ask, to which of your accounts you return 2 x £400 per month by direct debit?

In my experience, there are very few personal accounts which allow you to set up direct debits. Most direct debits have to be set up by the organisation whose bill you are paying.

Badger can I also ask how you do this. Thanks.

badger09

Dan83 hasn't replied.

He's been active on the forum since his post above on 29 January.

I suspect he meant Standing Orders, rather than Direct Debits;)

polymaff

badger09 wrote: »

Dan83 hasn't replied.

He's been active on the forum since his post above on 29 January.

I suspect he meant Standing Orders, rather than Direct Debits;)

Oh, it can be done by DD, but as there are far more accounts that support account-holder-initiated SOs than DDs, it's a rather eccentric use of a DD.