Savings accounts accepting DD's

Midland45

clivep wrote: »

You can't assume that the DDs being set up means that they've completed checks.

Our first a/cs had the DDs set up and the first DD deposits taken on 21st November. We only got the email requesting statements on 22nd November.

I followed up on 29th November by replying to their original email message asking if my submitted statements were OK as they didn't show our address. I promptly received the reply "We are in receipt of the identification and a Welcome Letter will be coming out to you shortly". We're still waiting for this.

Absolutely correct, but we both got a follow up written letter that stated "I'm pleased to confirm your new Scottish Widows Bank Internet Saver Account is now active." The letter was dated 21st Nov but didn't arrive until 02 Dec. Obviously they are very busy with new accounts at the moment.
It also stated the first DD would be taken 3 working days after the letter was dated.

clivep

Tom1D wrote: »

Thank you for the comment and help...

As only 1 linked account is possible, I will thus link this to my BOS account.
My plan was to set up weekly direct debits.. so thus would have at least 2.

Making one direct debit weekly won't satisfy the BOS Vantage conditions for interest...
"pay at least two different direct debits from your Vantage account each calendar month".

Steve_xx

clivep wrote: »

Making one direct debit weekly won't satisfy the BOS Vantage conditions for interest...
"pay at least two different direct debits from your Vantage account each calendar month".

I guess one might argue that paying two DD's with differing amounts could be construed as "two different" direct debits!! They're not actually stating that the two DD's need be paid to different companies, so it is open to some interpretation!

Katiehound

Steve_xx wrote: »

I guess one might argue that paying two DD's with differing amounts could be construed as "two different" direct debits!! They're not actually stating that the two DD's need be paid to different companies, so it is open to some interpretation!

I think you'll find that they need to be paid to different accounts even if it is the same organisation- that's how it was possible to fulfil the conditons by having 2 different Tesco savings accounts.

The problem is that if you discover that ploy (mentioned above) doesn't work you will have lost interest for the month and possibly the next whilst figuring out where to find another DD. On the other hand there is still a bit of time before the Tesco ones are pulled.......

Katiehound

colsten wrote: »

I hope to get one this Christmas. Been waiting for it for over 60 years, so this year must surely be the year.

Have you told Santa, and indicated which one you would like??

Vortigern

Katiehound wrote: »

I applied for Saga & BM savings accounts which like SW are subsiduaries of Lloyds banking group.
No problems with proving anything, I assume, because I have accounts with Lloyds & Halifax & BoS. Thank goodness! All this chasing DDs has been --- time consuming!!

Assume nothing, they could still ask for proof.

I also have accounts with Lloyds, Halifax and BoS. BM wanted a cheque from the linked account. SW wanted a statement.

Katiehound

Vortigern wrote: »

Assume nothing, they could still ask for proof.

I also have accounts with Lloyds, Halifax and BoS. BM wanted a cheque from the linked account. SW wanted a statement.

Cheque sent to Saga (BM) from linked a/c, expecting same proceedure from BM (trading as themselves!)
Luckily I have paper statements so if they really want one they can have it!
I didn't apply for SW as I have managed to sort all the required DDs without! (after much shuffling!)

treefiddy88

I'm wondering if one of you kind and knowledgeable people could help me with a specific query.

I would like to switch my Santander current account to a TSB Classic Plus account in order to get the £130 joining fee. My Santander account does not have any active direct debits set up and the deadline to take advantage of the MSE exclusive £130 offer is tomorrow, Monday 4th December.

Is there any point in trying to quickly set up 2 DDs to charities/magazine subscriptions on my Santander account now or will this fail to go through in time? What would happen if the DDs started during the account switching process?

Thanks in advance

Steve_xx

Katiehound wrote: »

I think you'll find that they need to be paid to different accounts even if it is the same organisation- that's how it was possible to fulfil the conditons by having 2 different Tesco savings accounts.

The problem is that if you discover that ploy (mentioned above) doesn't work you will have lost interest for the month and possibly the next whilst figuring out where to find another DD. On the other hand there is still a bit of time before the Tesco ones are pulled.......

You may well be correct. Or, is it that we have assumed that what you say is the case? The terms are ambiguous in that we all assume that they mean DD's from two different accounts, but that is not actually stated.

Halifax states: pay out a minimum of 2 different direct debits

They don't mention that these two DD's have to be to different companies or to different accounts for that matter. It merely states "different". One could therefore reasonably argue that a DD set up to pay on the 5th of the month, and another on say the 10th of the month to the same account, were in fact different?

Steve_xx

treefiddy88 wrote: »

I'm wondering if one of you kind and knowledgeable people could help me with a specific query.

I would like to switch my Santander current account to a TSB Classic Plus account in order to get the £130 joining fee. My Santander account does not have any active direct debits set up and the deadline to take advantage of the MSE exclusive £130 offer is tomorrow, Monday 4th December.

Is there any point in trying to quickly set up 2 DDs to charities/magazine subscriptions on my Santander account now or will this fail to go through in time? What would happen if the DDs started during the account switching process?

Thanks in advance

You may be able to select a date for the process to start. Thereby giving you time to do what you propose. So I guess only by starting an application with TSB will you learn if it's possible to select a start date for the transfer.