Direct Debit ideas

TheLondoner

Hi guys,

Not sure if this has been done before but I thought i'd post it so others can add ideas here. This thread is to post Direct Debit ideas. As you may all know banks are changing their T&C's and are requesting DD's in order to get paid interest on your savings. I don't know about you guys but I have no bills other than my two credit card bills, which I used for Lloyds. I've also got 3xBank of Scotland accounts which i'm looking for direct debits for come September, and I might open up a Santander 123 account for which I'll need DD's for too!

Here are my direct debit ideas so far:
1) Tesco bank account with DD facility to draw debits from other accounts
2) National lottery. I contacted them and they let you set up multiple direct debits. Not 100% if it's a £10 minimum or you can do £2 per DD.
3) Credit cards + bills (gas, lecky, phone etc).
4) Charities: list below:
http://www.charitychoice.co.uk/charities
5) Gym pass/climbing wall pass do monthly direct debits these days.
6) Just had a look at the student loans company page and they also accept direct debits! (I called them and there is no minimum amount and but you can only do 1 per month). So in theory 1p is possible. Will try and get back to you!
7) Netflix
8) National trust DD's: £5.25/month
9) There are loads of magazines around but I couldn't find a cheap one for which I could set up 12xmonthly direct debits. Most want a 6 monthly or annual debit.

If anyone else has any ideas please post here! The cheaper the better!

ceredigion

Yes it has been done before, in fact to death,
https://forums.moneysavingexpert.com/discussion/4168667

Harveys_2

Just counted, I have 26 direct debts into my two Tesco saver accounts. Why do you need anything else?

Plus all the money pulled is interest which I get to keep!

ceredigion

Harveys wrote: »

Just counted, I have 26 direct debts into my two Tesco saver accounts. Why do you need anything else?

Plus all the money pulled is interest which I get to keep!

You keep making posts like that there is a fair chance the info in the OP's post might benefit you.

Harveys_2

ceredigion wrote: »

You keep making posts like that there is a fair chance the info in the OP's post might benefit you.

I'm a little confused? You rather I waste money by having direct debits to Netflix? National lottery? Magazines?

Why not tell people how it is? Why can't I say what I did to save people time and their hard earned money.

colsten

Harveys wrote: »

I'm a little confused? You rather I waste money by having direct debits to Netflix? National lottery? Magazines?

you might have to, when Tesco get fed up with the abuse.

Ed-1

Harveys wrote: »

I'm a little confused? You rather I waste money by having direct debits to Netflix? National lottery? Magazines?

Why not tell people how it is? Why can't I say what I did to save people time and their hard earned money.

The fear is the more customers that abuse Tesco's DDs the faster they'll withdraw the facility as it's not cost effective for them. If everyone set up 30 DDs, it wouldn't be long before they either decide to close their accounts or simply stop offering the DD facility en masse.

adindas

Ed-1 wrote: »

The fear is the more customers that abuse Tesco's DDs the faster they'll withdraw the facility as it's not cost effective for them. If everyone set up 30 DDs, it wouldn't be long before they either decide to close their accounts or simply stop offering the DD facility en masse.

There are a already a few building society are doing this. Newcastle BS has done that.

Santander use to have saving like this, though only until 2DD. It has been reported once you cancel the DD on htis saving ac you will not be able to set up a new one.

Harveys_2

I appreciate that...totally understand what you're saying but after paying your legitimate direct debits...what do you guys really do? Level with me as to how many dds you have to tescos?

This is mse. Can't see anyone wasting money on things they won't watch or read just to have some direct debits. But then again I could be wrong. I'm just being transparent in what I do.

I don't see how it's a case of abuse. It doesn't state any where how many dds you can have. also they pull in over £200 which stay in the accounts.

Anyways have a good evening.

TheLondoner

@Ed-1 are there any other banks other than Tesco that offer this facility? to set up DD's?

Ed-1

TheLondoner wrote: »

@Ed-1 are there any other banks other than Tesco that offer this facility? to set up DD's?

https://forums.moneysavingexpert.com/discussion/5126573