Tesco Savings DDs

polymaff

chockydavid1983 wrote: »

What are the names of the Post Office and Scottish Widows accounts you mention please? Are there any other accounts that accept direct debits?

surreysaver wrote: »

https://www.postoffice.co.uk/savings-accounts/online-saver

http://www.scottishwidows.co.uk/bank/savings/internet_saver_account_apply.htm

If I interpret the respective T&Cs correctly, both of these accounts limit you to one DD source per account - from the "pre-advised" (SW) or "nominated" (PO) account.

That's going to mean a LOT of accounts relative to 4 heavily-DDed Tesco Internet Savers.

I haven't yet found any limit on numbers of SW / PO accounts - anyone?

surreysaver

Other platforms you can set up a direct debit to and send money back to yourself:

https://www.moneyfarm.com/uk/

https://www.halifax.co.uk/sharedealing/our-accounts/share-dealing-account/Default.asp

There might be other investment-type accounts where money can be diect-debited into some sort of holding account from where you can send it back to yourself

ceredigion

Another reason to keep stoozing.

B_G_B

Pooh! Not just current accounts, this could affect M&S Regular Saver as well. 2 DD’s required to open the account, although not sure if they are needed once opened.
https://bank.marksandspencer.com/pdf/CPSaverSummaryBox.pdf

tg99

surreysaver wrote: »

Which is why I was wondering how many accounts I can have!

Though even with multiple accounts you may have to have the same nominated account for all of them?

surreysaver

tg99 wrote: »

Though even with multiple accounts you may have to have the same nominated account for all of them?

Nope. Different nominated accounts for each one.

Mchambers

Just had a thought people. What about setting up multiple d/debits for credit cards ? One d/debit paying £1 per month, another paying £1 per month, etc. and the last paying the balance in full later in the month.
Opinions please.

surreysaver

Mchambers wrote: »

Just had a thought people. What about setting up multiple d/debits for credit cards ? One d/debit paying £1 per month, another paying £1 per month, etc. and the last paying the balance in full later in the month.
Opinions please.

Would a credit card allow you to do that?

Mchambers

surreysaver wrote: »

Would a credit card allow you to do that?

Don't know. That is why I am asking.

EachPenny

surreysaver wrote: »

Would a credit card allow you to do that?

I'm not sure you can with any of the cards I've used.

But I was wondering in response to ceredigion's post whether I should stop binning all the letters I get begging me to take out new credit cards. :lipsrseal