Santander 123 "Active Direct Debits"

Leodogger

You can still reinstate two DD's even if you are not using them like Paypal or council tax, any really and they will reinstate paying you your interest. I did after losing 12 months interest payments without realising I needed to keep two "live" DD's.

J_B

JWhite wrote: »

You can still reinstate two DD's even if you are not using them like Paypal or council tax, any really and they will reinstate paying you your interest.

Indeed, but sadly, they wont budge on giving me my £25+ interest just coz the DD wasn't active for 4 days

Leodogger

J_B wrote: »

Indeed, but sadly, they wont budge on giving me my £25+ interest just coz the DD wasn't active for 4 days

I presume you mean that they won't give you the interest for just that one month? At least you will only lose £25 whereas I lost £300 ! :eek:

spare_one

Takes about 45 seconds to set up. Only £1 a year (or 8 and a half pennies a month...).

https://www.smalldirectdebit.co.uk

They also have a range of monthly direct debits.

ColdIron

There have been many reports of these being cancelled, see the restrictions, for instance

• deals in any way with payments to and from the same account or between multiple accounts held by or for the same beneficial owner;

https://gocardless.com/downloads/legal/restricted-activities-list-v0417-1.pdf

spare_one

ColdIron wrote: »

There have been many reports of these being cancelled, see the restrictions, for instance

• deals in any way with payments to and from the same account or between multiple accounts held by or for the same beneficial owner;

https://gocardless.com/downloads/legal/restricted-activities-list-v0417-1.pdf

That is why you can't set up your own account to pay DD to yourself. Its also not worth the effort of setting up an account just to save £1 a year (and its even less than that, because they deduct 20p charge). It takes hours to set up an account.

But that link is for a DD already set up to someone else's account (for £1 a year) Its perfectly legal, and takes literally seconds to sign up (if you click the link you'll see how short the form is).

It can also be used more than once, and counts as separate Direct Debits.