Are there any £1 Direct Debits?

Drunk_Monkey

Register @ PayAQuid.co.uk. It allows anyone to set up £1 direct debits quickly, easily, and securely.

dggar

Is anyone able to give an explanation as to how PayAquid works?

Zanderman

dggar wrote: »

Is anyone able to give an explanation as to how PayAquid works?

Er, you pay them a quid.

It's a new type of scheme, specifically designed to take advantage of the DD requirements of some accounts.

You gain a DD, but you lose £1. They gain £1 minus the DD costs.

They are using GoCardless (https://gocardless.com/) for the DD's. Go Cardless is another relatively new service that arranges DD's for businesses that don't want to organise them themselves, GoCardless take a cut - in this case a cut of the £1.

I'm aware of two schemes - https://www.littledebits.org and https://www.payaquid.co.uk - but can't say whether either are reliable or here to stay or not.

No_6

Still think this is mean

Kernel_Sanders

Drunk_Monkey wrote: »

Register @ PayAQuid.co.uk. It allows anyone to set up £1 direct debits quickly, easily, and securely.

How quickly? My last 19 attempts to set up a DD to Paypal have all failed.

schiff

No_6 wrote: »

Still think this is mean

Maybe. I tend to agree but I doubt if the charities mind very much. It's assured income for them. If every adult in the UK made a DD payment of £1 a month, the charity would be ecstatic I imagine.

A DD of say £5 a month (my choice) gives away immediately nearly half the income you're going for, so you have to really want to make the charity payment go ahead for its own sake.

fanheater

I found another one which I can't see has been mentioned in this or the older threads on the same topic: student loans.

On Studentloanrepayment.co.uk you can set up direct debits to make additional payments for any amount you want. That's very MSE.

Mchambers

Use Tesco Savings and Tesco Internet savings accounts to set up d/debits payable to yourself.

EachPenny

Mchambers wrote: »

Use ***** Savings and ***** Internet savings accounts to set up d/debits payable to yourself.

As had been mentioned twice already in the thread... no need to go on about it, please

Mchambers

EachPenny wrote: »

As had been mentioned twice already in the thread... no need to go on about it, please

Why not :rotfl: ?