Savings accounts accepting DD's

soulsaver

ColdIron said:

I don't have a credit account and you don't need to buy anything. In the app you tap the Paypal Balance, select the Add Money button, choose which account to use (I have 3 bank accounts and 2 credit cards registered) and enter the amount. The cash is pulled via DD and ends up in your Paypal balance. But it can't be automated, you have to do it manually each time

How long from 'add money' to DD£ being pulled?

10_66

soulsaver said:

ColdIron said:

I don't have a credit account and you don't need to buy anything. In the app you tap the Paypal Balance, select the Add Money button, choose which account to use (I have 3 bank accounts and 2 credit cards registered) and enter the amount. The cash is pulled via DD and ends up in your Paypal balance. But it can't be automated, you have to do it manually each time

How long from 'add money' to DD£ being pulled?

I did a test earlier this afternoon, and it said allow 5 working days, but whether it'll be deducted from bank account sooner than 5 working days I'm afraid I don't know.

ColdIron

I haven't done one since 2018 but it says 5 days (assuming the account has been confirmed etc)

10_66

10_66 said:

soulsaver said:

How long from 'add money' to DD£ being pulled?

I did a test earlier this afternoon, and it said allow 5 working days, but whether it'll be deducted from bank account sooner than 5 working days I'm afraid I don't know.

soulsaver, just to let you know that the test I initiated on the 26th November still hasn't arrived into the PayPal account.  The DD has appeared in my bank account, and the amount is showing as pending in the PayPal account, but as yet has not been deducted from the bank account (when setting it up PayPal said allow 5 working days).

Edit:  PayPal account updated today and is now saying transfer was initiated on the 3rd Dec (today - but I set it up on the 26th Nov), and is due to arrive on 11th Dec. so if the 11th Dec is when it arrives, it'll have taken just over 2 weeks.

wiseonesomeofthetime

I activated my PayPal DD by buying coffee at Wetherspoons for 99p, via their app, and paying via PayPal.

The money left my current account via DD exactly seven days later, so the five working days seems to be about right.

Done it twice now. September and October. Don't need to do it any more now as switch bonus received for that particular bank's offer

Mosler

Received a letter saying all Birmingham Midshires easy access savings account will be closed between 24.11.22 and 24.12.22. 

Daliah

Investigate Credit Union accounts. Countless ones of them (still) offer DDs to fund your own accounts.

EarthBoy

Mosler said:

Received a letter saying all Birmingham Midshires easy access savings account will be closed between 24.11.22 and 24.12.22. 

According to their website they're closing all accounts, not just easy access ones. It sounds like they're closing the brand down.

https://www.birminghammidshires.co.uk/about/news/96/receiving-a-closing-account-letter.aspx

Over62

Mosler said:

Received a letter saying all Birmingham Midshires easy access savings account will be closed between 24.11.22 and 24.12.22. 

Bad news.  Mr Over62 and I have eight between us, generating direct debits to enable rewards on other accounts to be paid.  Major rethink needed.

Daliah

Over62 said:

Mosler said:

Received a letter saying all Birmingham Midshires easy access savings account will be closed between 24.11.22 and 24.12.22. 

Bad news.  Mr Over62 and I have eight between us, generating direct debits to enable rewards on other accounts to be paid.  Major rethink needed.

Investigate Credit Unions. Many of them support DDs into accounts in your own name