Santander

Thomask

Hi

I'm looking at opening a Santander 123 account however don't have 2 direct debits going out each month. My rent comes out as a standing order, I believe, though I get confused between the difference.

Is it possible to create direct debits for the sake of running this account?

Regarding the opening process, is online the fastest option?

Thanks

AnotherJoe

Thomask wrote: »

Hi

I'm looking at opening a Santander 123 account however don't have 2 direct debits going out each month. My rent comes out as a standing order, I believe, though I get confused between the difference.

Is it possible to create direct debits for the sake of running this account?

Of course. Pick your favourite charities.

ceredigion

who said "each month"

ColdIron

No gas, electricity, water, council tax, broadband or mobile bills for the cash back?
Paypal can work as one of them, have a look around the forum for other ideas

Thomask

Could I set up my eBay fees as a Direct Debit and also my Halifax Clarity card (which remains in credit) as another?

Would this qualify me?

Thomask

Also are there any cash back deals for taking out the Santander 123 account which anyone knows of?

YorkshireBoy

Thomask wrote: »

Could I set up my eBay fees as a Direct Debit and also my Halifax Clarity card (which remains in credit) as another?

Would this qualify me?

Setting aside the risk you're running there, if it's kept in credit for longer than 13 months Santander will cancel the DDI...and you'll lose up to £50!

Westie983

Thomask wrote: »

Hi

I'm looking at opening a Santander 123 account however don't have 2 direct debits going out each month. My rent comes out as a standing order, I believe, though I get confused between the difference.

Is it possible to create direct debits for the sake of running this account?

Regarding the opening process, is online the fastest option?

Thanks

Santander 123 just require the DD to be set up to pay the interest, but if you want to get the cashback, they need to pay out.

Who do you pay your rent too? If its to a company its likely to be a DD and not a SO but if its to a letting agent for example they may use SO, where does it show up currently on your existing bank account, or does it say SO or DD next to your last payment.

You could also use Tesco savings accounts, or charity payments, or paypal, (with multiple banks) or maybe your CC.

Thomask

Westie983 wrote: »

Santander 123 just require the DD to be set up to pay the interest, but if you want to get the cashback, they need to pay out.

Who do you pay your rent too? If its to a company its likely to be a DD and not a SO but if its to a letting agent for example they may use SO, where does it show up currently on your existing bank account, or does it say SO or DD next to your last payment.

You could also use Tesco savings accounts, or charity payments, or paypal, (with multiple banks) or maybe your CC.

Thanks.

I won't be looking for the cashback on my bills as I wouldn't be eligible as they are paid by a third party as part of our rent.

Having looked at my bank statement, it has standing order next to the transaction. I wonder if I can change this to a Direct Debit for the purpose of this exercise. I'm not originally from the UK so am still getting my head around the banking terminology here and the different between a SO and DD!

I'm confused if I can use my Clarity card (Halifax) as a DD for the Santander requirements along with my PayPal?

Westie983

Okay so you cant use your rent, so you could use the DD for your clarity card, you need to make a small payment on your card if its not being used, and then the DD for the account is paid out of your Santander account, this can either be each month, or just set up to be taken when its due.

You can add your Santander account to your Paypal so that would be your 2nd DD.

Do you have access to internet banking for the Halifax? if you do you can log in and view your clarity card.

on the right hand side under more actions,
you click on paying your credit card,
Set up or manage a Direct Debit

you can then choose either a fixed amount, minimum payment or total balance.

BobQ

DD is a demand from the person you allow to make the request for payment and can change from transaction to transaction.

SO is a fixed instruction to your bank to make a regular fixed payment.

Firms usually prefer a DD as they do not have to get you to complete a new mandate if the amount changes. My Council asked me to change from SO to DD because they said it was cheaper for them.

You must spend money on something? Magazine subscription, car loan, insurance?

Are you sure that without utilities you will make money after paying the San 123 £5/m fee?