Question about direct debit and monthy pay ins

rahulpower

Hello, i want to setup the tsb account with £100 registration bonus but i am stuck over a couple of things:
-First, i only have one direct debit, paypal. Whats the easiest way of getting the second one required?

- Second i need to pay in £500 a month. can i just transfer in this money from another account and then take the money out? Any other loophole i could utilize?

Thanks, this is my first time really doing banking stuff by myself and i am trying to learn fast.

grumbler

rahulpower wrote: »

Hello, i want to setup the tsb account with £100 registration bonus but i am stuck over a couple of things:
-First, i only have one direct debit, paypal. Whats the easiest way of getting the second one required?

>> need to setup 2 direct debits please help

- Second i need to pay in £500 a month. can i just transfer in this money from another account and then take the money out?

Yes. I think even transfers from TSB qualify, but it's better to be from another bank or a cash deposit to be on the safe side.

rahulpower

grumbler wrote: »

>>
Yes. I think even transfers from TSB qualify, but it's better to be from another bank or a cash deposit to be on the safe side.

thanks for reply,
Just to confirm, creating a new direct debit makes it active even if it hasn't taken any payments right?

also i did do a sub forum search for the term but i still cant find any posts about which active direct debits i can set up easily for free. could you help me or point me in the right direction?

cheers

ERICS_MUM

A few ideas about why you might need to set up a DD.

- to repay monthly spending on a credit card, store card etc. Full repayment to avoid running up debt !

-insurance, eg motor, pet, home, health

- gym membership

-magazine subscription

- mobile phone

-I tunes and apps (payment for)

- travel ticket, eg monthly tube ticket

grumbler

rahulpower wrote: »

thanks for reply,
Just to confirm, creating a new direct debit makes it active even if it hasn't taken any payments right?

Right, but it's better to have at least one payment taken. For Tesco, the same DD works for one-off payments too, not only for regular payments.

also i did do a sub forum search for the term but i still cant find any posts about which active direct debits i can set up easily for free. could you help me or point me in the right direction?

Penny direct debits?
Tesco direct debits
Direct Debits for switch incentive
Set Up Direct Debits
Moving to Club Lloyds - Direct Debits
...
...
Needed DD used Lottery
Best Account for Dummy DD's
How soon can first Tesco Saver DD be set up?
bank switching-how quickly does a DD become effective ?
Opening dummy accounts, DD'S and standing orders
DD and Tesco iSaver mismatch
Using Paypal to qualify for a Halifax DD
Do Joint A/C's still require 2 DD's
...
...
Using Tesco to manufacture DDs...
Switching with invisible DDs?
switching before DDS are set up
2 DDs to 1 Tesco account
DDs to Tesco saving accounts question
Tesco DDs for Santander accounts
...
...

Katiehound

rahulpower wrote: »

- Second i need to pay in £500 a month. can i just transfer in this money from another account and then take the money out? Any other loophole i could utilize?

Easiest way is to set up a SO going in - from another a/c, and then another SO sending the money out. I do mine with a couple of days in between to allow for w/e or shorter months.
You can send the money back to where it started.... or to another a/c!

NotRichAtAll

i have 2 tsb accounts with 2k in each i just set up an automatic £500 transfer each month from 1 account to the other then back again.

YorkshireBoy

NotRichAtAll wrote: »

i have 2 tsb accounts with 2k in each i just set up an automatic £500 transfer each month from 1 account to the other then back again.

...and presumably 2 more transactions to extract the interest, so 4 in total?

Why not fully automate it, and use just 3 SOs?...

£500 TSB1-->TSB2
£506.50 TSB2-->TSB1
£13 TSB1-->wherever

NotRichAtAll

YorkshireBoy wrote: »

...and presumably 2 more transactions to extract the interest, so 4 in total?

Why not fully automate it, and use just 3 SOs?...

£500 TSB1-->TSB2
£506.50 TSB2-->TSB1
£13 TSB1-->wherever

i like to do it manually the only automated part is the £500 bouncing back and forth each month i then transfer the interest each month out of them to my 123 account