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Santander and direct debits
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ericonabike
Posts: 337 Forumite
Mrs E and I have set up three Santander accounts, with the necessary funds going in and two DDs going out from each. But the council tax DD only takes money out for 10 months of the year - the council gives us Jan and Feb as 'tax-free' months. Will it still count as a DD for Santander? Otherwise I assume I may lose interest for these two months.
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I believe that it only requires the DDs to be "active" not necessarily drawn upon.
At least, that's what happened in my first month where my mobile bill DD was due after my "monthiversary" but I still received interest.0 -
A DD that pays but once per annum is just fine!The questions that get the best answers are the questions that give most detail....0
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Much obliged folks...0
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It will still count but you won't get cashback on it for the months it does not pay out.I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
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enthusiasticsaver wrote: »It will still count but you won't get cashback on it for the months it does not pay out.
How do you know?
Whats the difference between getting 3% cashback on nothing and getting no cashback?0 -
However over the year you will get the same cashback whether the total bill is divided into ten parts or twelve.enthusiasticsaver wrote: »It will still count but you won't get cashback on it for the months it does not pay out.Eco Miser
Saving money for well over half a century0
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