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Using paypal as 1 of 2 direct debits to receive Bank current account bonuses.

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  • cm00
    cm00 Posts: 86 Forumite
    Seventh Anniversary 10 Posts
    So I just use the same acc no and sort code but call it a different name, when creating the 2nd payee, that way it create two different DD's? That is what I've done.
  • cm00
    cm00 Posts: 86 Forumite
    Seventh Anniversary 10 Posts
    Attention to detail is important, like saying being sure not to say RBS when you mean BoS for example. ;) OP, you have the account set up. Why close it?...use it...you never know when 2 will come in handy!

    Yeah it's set up now. I'm doing it with two saver accounts. I did create two different payees as well but I suppose I could just leave it like this.
  • polymaff
    polymaff Posts: 3,950 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Norscbu wrote: »
    All of the accounts with DD requirements that I have seen, require that the DD is not only active, but pays out once per calendar month

    Have a look at Santander 123.
  • ceredigion
    ceredigion Posts: 3,709 Forumite
    Eighth Anniversary 1,000 Posts Photogenic
    cm00 wrote: »
    Hello,

    I know about registering your bank account to paypal and how that it then shows up as a direct debit on your bank accounts list of direct debits.

    However, what I don't spend anything on my paypal account, will it still count as a direct debit? I ask because I've seen people claim that you need to make a monthly spend, even if its just £1. That hasn't been my finding. As I've done quite a bit of bank switching and had a few different paypal accounts I've ended up with 4 inactive paypal direct debits on my M&S bank account. You need these direct debits to open up the 5% interest monthly saver account. Mine worked fine for a whole year and I recently started the monthly saver again - that's with 4 inactive paypal direct debits and no other direct debits.

    So, do you definietly need to spend monthly on the paypal account for the direct debits to count?


    * If there is no activity on the DD no it wont (assuming the account in question needs some activity)
    * Those people are mistaken
  • polymaff
    polymaff Posts: 3,950 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Don't add to the confusion! The OP now understands that the T&Cs of the bank account define how many DD mandates must be in place and when and how often the mandated DDs are to "pull" the bank account. He also now understands that it is up to him to generate mandates to address those T&C requirements. Plus, he understands that using PayPal is a mug's game.

    At least I hope that he does!

    So, just one other thing to get right - the amount pulled - which takes us back to minimising risk. :)
  • Polly05
    Polly05 Posts: 379 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    Hi,
    Sorry to hijack the thread but I went to open a tesco internet saver and it says something about you can set up a direct debit to pull money into your account. If u need more than 1 direct debit, call us to apply for the account.
    Is that new? I wanted to be able to set up direct debits online... and as many as i wanted, when i wanted...is that not allowed now? Or has it always said that?
    Thanks!
  • polymaff
    polymaff Posts: 3,950 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Polly05 wrote: »
    Hi,
    Sorry to hijack the thread but I went to open a tesco internet saver and it says something about you can set up a direct debit to pull money into your account. If u need more than 1 direct debit, call us to apply for the account.
    Is that new? I wanted to be able to set up direct debits online... and as many as i wanted, when i wanted...is that not allowed now? Or has it always said that?
    Thanks!

    This is quite worrying if so. Can you copy and paste the exact text?

    The terms and conditions haven't been updated since November 2015.
  • Kim_13
    Kim_13 Posts: 3,408 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper Photogenic
    Polly05 wrote: »
    Hi,
    Sorry to hijack the thread but I went to open a tesco internet saver and it says something about you can set up a direct debit to pull money into your account. If u need more than 1 direct debit, call us to apply for the account.
    Is that new? I wanted to be able to set up direct debits online... and as many as i wanted, when i wanted...is that not allowed now? Or has it always said that?
    Thanks!

    It's a new security measure I believe, along with statements sometimes being requested for the account you want to pull from.

    Once the account is set up, you should be able to initiate as many direct debits as you want online.
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