Savings accounts accepting DD's

badogblue

Westie983 wrote: »

Correct, You cant fund your account by DD, but you can pay someone else and pay by DD.

I send money to my sister she sends it back to me straight away then I withdraw it and put it in the accounts the DD are coming out of.

I have done this for four accounts this months, as a trial before I need to use it in April.

Westie983

Thanks for the tip Westie, this seems the best solution so far.

Have you tested if you setup multiple direct debits are they viewed as unique? Or will we need multiple paypal accounts if we require more than 1 DD per bank account?

Thanks.

blindman

Story of my success or not :eek: so far

I need 18 DD's to be setup.

Using Credit cards-some dormant and some Balance transfer managed to get 6 out of the way easily.

Creating others:
PO -easy to setup 1 DD each for Mrs B and I
Birmingham Midshires
Easy to setup took only 1 week. Changed my link account to one that I need DD's Again 1 DD each.

SAGA:eek:
Good grief!
Applied for the telephone account on-line 15th Dec.
It would not let me apply for a joint account after I had opened 1 for each of us-No matter I'll do it later.

To this day it is STILL not active as they haven't sent a "token" by which I can operate the account.
CS are useless and clueless :mad:

My third phone call today and the CS bloke was errrrr. ummm etc.

If these ever gets opened I'll have 3 more DD's :cool:

So that would make 5 to get.

Car Tax
Mine is due and is £30. Forgot you can pay by DD (extra cost of £1.50 over 12 month )

So now there are 4 to go.

I have 6 DD's on my Natwest reward account that give me approx £7 per month, so may have to do the maths to see if it's worth switching a few of them.

Onwards and upwards :cool:

Katiehound

blindman wrote: »

SAGA:eek:
Good grief!
Applied for the telephone account on-line 15th Dec.
It would not let me apply for a joint account after I had opened 1 for each of us-No matter I'll do it later.

To this day it is STILL not active as they haven't sent a "token" by which I can operate the account.
CS are useless and clueless :mad:
:cool:

I concur. I applied online Nov 9th. Somehow (how?) mother's maiden name got omitted from application form and that has caused myriad problems. I have however managed to set up DD but nowt else- because they couldn't send the 'token'. The rate is so poor that I shall be moving money out once I am able.
I did have a long conversation with a complaint! So called 'token' should be in the postal system.... soon!

One of my DDs is to Park Christmas club.
I know it's not covered by the FS but @ £1.66 a month I won't worry. They have been in business for over 50 years. It will buy me 2 x £10 M&S gift cards for Nov.

If I need any more DDs in the future I shall be giving £2 donations to charities- run out of any other ideas!!!

blindman

Katiehound wrote: »

I concur. I applied online Nov 9th. Somehow (how?) mother's maiden name got omitted from application form and that has caused myriad problems. I have however managed to set up DD but nowt else- because they couldn't send the 'token'. The rate is so poor that I shall be moving money out once I am able.
I did have a long conversation with a complaint! So called 'token' should be in the postal system.... soon!

Glad it's just not me then

I have no idea who in their right mind would actually apply for this account as the interest rate is abysmal as is their CS.

"and the cheque's in the post" springs to mind :cool:

Thing is I only need to change my Interlinked account to the ones that need the DD's
Otherwise I'm sorted as I have the DD's in place and an account number.

Katiehound

No, not just you!
Whatever postal system they use (UK Mail?) it's not the PO and it takes a week for a letter to arrive- which does not help matters.

I set up DD for £5 before I realised the dire interest rates- it will be reducing to £1!! At the end of the first year the rate drops to- the one I shall already have been earning.
Yes, when I get that 'token' I shall be reducing my investment to ... a very small one!

However mustn't be ungrateful as it is helping to earn interest elsewhere.Can't actually think why anyone would choose to use this scheme for 'normal'savings.:think:
I have to say that CS have been as helpful as possible

clivep

I don't know how many Birmingham Midshires a/cs you're allowed but my wife & I have 2 each.

PO... I believe you are only allowed 1 per issue (+ joint) but it doesn't seem to stop you opening more. Without realising this at the time, my wife & I have 2x issue 26 and 1x issue 28 each + 1x issue 26 and 2x issue 28 joint so 9 altogether.

We've also both started proper (i.e. not minimum amount) monthly charity donations to Sightsavers and Greenpeace.

badger09

clivep wrote: »

I don't know how many Birmingham Midshires a/cs you're allowed but my wife & I have 2 each.

PO... I believe you are only allowed 1 per issue (+ joint) but it doesn't seem to stop you opening more. Without realising this at the time, my wife & I have 2x issue 26 and 1x issue 28 each + 1x issue 26 and 2x issue 28 joint so 9 altogether.

We've also both started proper (i.e. not minimum amount) monthly charity donations to Sightsavers and Greenpeace.

Did you open them all around the same time, or spread over a longer period?

Any issues with changing the linked account for DDs on one affecting the other? In other words, is it working smoothly pulling DDs from different accounts?:o

Thanks

clivep

badger09 wrote: »

Did you open them all around the same time, or spread over a longer period?

Any issues with changing the linked account for DDs on one affecting the other? In other words, is it working smoothly pulling DDs from different accounts?:o

Thanks

1st BM ones opened beginning November with cheque from our joint Flexaccount (the only one we have a cheque book for). Once fully open, linked a/cs changed to Yorkshire bank successfully.

2nd BM ones opened beginning December after reading on here that multiple a/cs were allowed. Linked a/cs set to Nationwide Flexaccount again although not really necessary as no cheques required due to being existing customers. Linked a/cs subsequently changed to FlexDirect sucessfully.

No issues with BM other than the time it took to open 1st a/cs.

1st issue 26 sole PO ones opened end October. 2nd issue 26 sole PO ones & joint one opened just over a week later.

After reading on here that having different issue a/cs was allowed and seeing issue 28 was out I tried applying for these at the beginning of January. My application kept giving an error and a joint one also didn't go through. It transpired that my a/c had been blocked (no good reason known... just had to confirm a DD mandate). A week later, after unblocking, the joint a/c application was completed over the phone but this a/c never showed up until 6th February!

Immediately after, I could then open the issue 28 sole PO ones and another joint one online.

Everything seemed OK until I noticed that one of my wife's DD had not been taken in January as the PO had cancelled the mandate. There then followed a comedy of errors with their incompetent staff resulting in them accidentally cancelling ALL her DDs (sole + joint a/cs) despite the regular deposits still showing as "active" in her PO accounts... see my other thread for more details.

So my PO a/cs have been fine, but not so for my wife. I now have all 9 DDs set up to draw from different current a/cs and hope the PO don't mess it up again (complaint for compensation lodged).

clivep

Apart from the 9x PO, 4x BM savings a/cs, 2x Greenpeace + 2x Sightsavers we also have these DDs:

2x Scottish Widows Internet Savers each (currently unavailable to new investers).

1x local credit union savings a/c each.

3x credit card (new TSB & NatWest ones as Nationwide dropped their cashback %).

1x monthly car tax.

1x monthly TV licence.

3x local friendly society lodge monthly contributions (wife, self + son) for one Tesco current a/c (other 3x Tesco ones don't need the DDs).

3 x annual friendly society endowment payments + 1x RHS annual subscription to satisfy M&S requirements.

Monthly council tax, water rates, Gas, Electric & Phone all from NatWest Reward a/c.

I make that 40 DDs beween us excluding the Tesco savings DDs that are now redundant and in the process of being cancelled.

Southcoast01

Post office saver issue 29 now available - interest 1.05.

I've just opened an account but once logged in my account shows as issue 28 with interest 1.3% ( I already have another issue 28).