Savings accounts accepting DD's

YorkshireBoy

chris1 wrote: »

Thanks for replying.
The end result might be the same in the account the money ends up in, but if you are pulling it from 8 different accounts it's definitely not the same! (in other words you are fulfilling the DD criteria for 8 accounts).:)

I may not have made myself clear. It's no more work to shift £200 from the DD collection accounts back to an interest earning current account each month than it is to shift £20.

chris1

YorkshireBoy wrote: »

I may not have made myself clear. It's no more work to shift £200 from the DD collection accounts back to an interest earning current account each month than it is to shift £20.

Ah, I see. My problem is that they will be going into an account with one access per year.
What do you think the minimum acceptable amount is?

Wheres_My_Cashback

chockydavid1983 wrote: »

Current list accepting new customers:
Tesco (only until 04/18 for anyone)
Scottish Widows
Post Office
Chip and Plum (app based)

Other DD ideas:
Paypal
Credit cards
Charities

I will update this post with any other accounts that crop up but if you notice one that's not listed here just let me know (on the post itself or private message) and I'll update this post :-).

Paypal are in the process of removing DD capability from accounts. My 3 accounts all lost it a couple of months ago. Others here reported the same.

Badger50

The Post Office limits you to one sole account and one joint account and only allows one nominated account for Direct Debits per PO account. However they say the nominated account can easily be changed online. As this takes 8 working days it should be possible to extract 3 direct debits from different nominated accounts in a month - a total of 6 direct debits per month if you have 2 PO accounts. Requires quite a bit of manual effort several times a month though. Not sure it would be worth the return with rates as low as they are.

veryintrigued

Badger50 wrote: »

The Post Office limits you to one sole account and one joint account and only allows one nominated account for Direct Debits per PO account. However they say the nominated account can easily be changed online. As this takes 8 working days it should be possible to extract 3 direct debits from different nominated accounts in a month - a total of 6 direct debits per month if you have 2 PO accounts. Requires quite a bit of manual effort several times a month though. Not sure it would be worth the return with rates as low as they are.

indeed - sounds like a real clat!

NoodleDoodleMan

I was able to open two solo Post Office Online Savers yesterday - and a customer adviser confirmed this was OK.

Not convinced - will see if the second one is still operational Monday.

NoodleDoodleMan

Question on CHIP (and PLUM)........ it works out what you can afford to save and moves it automatically from your current account ?

How do you control how much you want to save ?

Can't you just set up a Direct Debit for a fixed monthly amount ?

Any users out there had much experience ?

[Deleted User]

You can turn off automatic saving for a set period of your choice and select your own amounts and times.

Vortigern

Deleted_User wrote: »

You can turn off automatic saving for a set period of your choice and select your own amounts and times.

Is that Chip, or Plum, or both?

colsten

YorkshireBoy wrote: »

Then again, we could all keep quiet...helping to ensure the workarounds last longer?

First, MSEers killed the Tesco DD functionality.

Now MSEers are moving to eradicate any remaining self-DDs.

Very smart. Not.