Setting up Direct Debits to get the interest

Yowi

Hi

With Bank of Scotland introducing the two Direct Debits to get the interest amounts and also Halifax Reward / Lloyds / Santander also requiring two direct debits. I wanted to ask a question about this.

It says on there website they need to be two "different" direct debits. Does this mean that they can be say one from

Charity A at £Specific amount
and another from
Charity A at £Specific amount

OR

does it have to be from Charity A and a Charity B as two different companies to qualify? Even if the Direct debits above are different amounts?

Thanks so much

Westie983

Think the word different is the key to your question.

It has to be 2 different DD not one DD pulled twice, set up two DD from different charities if that is your intention.

Nebulous2

It doesn't need to be two different companies. My only DDs on my Halifax account are two life insurance premiums to the same company. Identical premiums taken a few days apart. It hasn't caused any issues and I get the fiver.

Westie983

Nebulous2 wrote: »

It doesn't need to be two different companies. My only DDs on my Halifax account are two life insurance premiums to the same company. Identical premiums taken a few days apart. It hasn't caused any issues and I get the fiver.

Yes thats because its two policies and two DD required, different from one DD being pulled twice, which wont trigger the £5 reward. If you have 2 DD showing on your account then all will be okay.

Kerstie1982

Please help!!

A company has not taken a direct debt for over 7 months, they informed me that I should pay back the money that I should have been paying.

Over 2 years ago I set up a Halifax account for all my bills to come out, I know that I pay an average amount per month and if I need to add money to my account the back texts me to let me know I'm limit is low. I don't check my account because normally if a direct debt has not been taken for any reason a company generally sends a letter.

I feel that it not fair that I should have to pay the amount back, as the direct debt was still active and since speaking to the company they had no reason why the direct debt was not taken.

I'm not sure what to do??

takman

Kerstie1982 wrote: »

Please help!!

A company has not taken a direct debt for over 7 months, they informed me that I should pay back the money that I should have been paying.

Over 2 years ago I set up a Halifax account for all my bills to come out, I know that I pay an average amount per month and if I need to add money to my account the back texts me to let me know I'm limit is low. I don't check my account because normally if a direct debt has not been taken for any reason a company generally sends a letter.

I feel that it not fair that I should have to pay the amount back, as the direct debt was still active and since speaking to the company they had no reason why the direct debt was not taken.

I'm not sure what to do??

You obviously have to pay the amount back because you still owe it. Considering that you have a dedicated bill paying account it's easy to see if one isn't being paid.
Just pay the amount owed and take it as a lesson to check your accounts more often. Waiting for texts and letters to say you haven't paid a bill shows very poor money management and your lucky the situation isn't alot worse than this. It's so easy to check accounts using online banking from a PC or mobile their is no excuse!.

bigadaj

Kerstie1982 wrote: »

Please help!!

A company has not taken a direct debt for over 7 months, they informed me that I should pay back the money that I should have been paying.

Over 2 years ago I set up a Halifax account for all my bills to come out, I know that I pay an average amount per month and if I need to add money to my account the back texts me to let me know I'm limit is low. I don't check my account because normally if a direct debt has not been taken for any reason a company generally sends a letter.

I feel that it not fair that I should have to pay the amount back, as the direct debt was still active and since speaking to the company they had no reason why the direct debt was not taken.

I'm not sure what to do??

Pay them the money you owe, if it's not been taken then you obviously have the money anyway we would assume.

And check your accounts on at least a monthly basis, ideally weekly, anything could be happening and if there is an issue its a lot easier to sort it out at the time rather than months later.

Kerstie1982

I understand that, I think I'm more disappointed by the way that it's been dealt with now.

I do not have poor money management, and seeing I have had the account for 2 years and have never had a problem with my account, that's what upsets me.

The company admitted that the direct debt was active both on their and mine and they had no reason as to why the DD was not being taken. I wanted them to find out the reason way it happened. I also agreed to pay the outstanding amount at a monthly amount that I could afford to which they agreed, then I received an email with a totally different agreement.

bigadaj

Kerstie1982 wrote: »

I understand that, I think I'm more disappointed by the way that it's been dealt with now.

I do not have poor money management, and seeing I have had the account for 2 years and have never had a problem with my account, that's what upsets me.

The company admitted that the direct debt was active both on their and mine and they had no reason as to why the DD was not being taken. I wanted them to find out the reason way it happened. I also agreed to pay the outstanding amount at a monthly amount that I could afford to which they agreed, then I received an email with a totally different agreement.

Fair enough, raise it as a formal complaint with the company.

It sounds like poor practice on their part and they may make a goodwill payment or similar gesture, which company is it?

Kerstie1982

It's a leisure organisation, I will raise it with the complains team assuming they have one...

takman

Kerstie1982 wrote: »

I understand that, I think I'm more disappointed by the way that it's been dealt with now.

I do not have poor money management, and seeing I have had the account for 2 years and have never had a problem with my account, that's what upsets me.

The company admitted that the direct debt was active both on their and mine and they had no reason as to why the DD was not being taken. I wanted them to find out the reason way it happened. I also agreed to pay the outstanding amount at a monthly amount that I could afford to which they agreed, then I received an email with a totally different agreement.

Paying money into an account on a monthly basis that you don't check for months/years on end is very poor money management. You need to realise this so that you don't get into difficulties in the future!.

The whole idea of having a second account is that you pay in a set amount to cover all your bills each month. If you had done this you would have had all the money for the 7 non paid directly debits in the account and could have paid them immediately!.
You also should have a set monthly budget each month which allows you to save some money and build up an emergency fund. This fund should be equivalent to a few months wages so you have spare money if anything happens, this would then have meant you could have paid the money in full.

So take this as a lesson to go away and work out all your monthly outgoings and setup a payment. Plus don't forget to plan some money to build up an emergency fund.

You should make sure your bills account is with a bank like TSB so you get 5% interest on money in the account. You can then pay an amount slightly more than your monthly bills into three account each months and this will allow you to build up an emergency fund and earn interest on it.