Savings accounts accepting DD's

JustAnotherSaver

polymaff wrote: »

No, I think that this was a daft idea that MSE'ers could carefully exploit. That twerps were - and are still - proud of waving a £1 red rag at a bull is just too bad for the rest of us.

Yeah because that's what caused it to get pulled isn't it .... MSE & £1 direct debits. :rotfl:

Eco_Miser

beefturnmail wrote: »

I don't think it strictly need be 1 x weekly - 1 taken 4 times in a month would suffice.

True, but setting up a weekly DD (which may sometimes pull 5 times in a calendar month) is easier than any method of getting exactly 4 DDs in a calendar month.

surreysaver

Eco_Miser wrote: »

True, but setting up a weekly DD (which may sometimes pull 5 times in a calendar month) is easier than any method of getting exactly 4 DDs in a calendar month.

Exactly. Unless you are willing to do it manually, a weekly direct debit is the only hands-off way to do it.

Gers

I have not read the whole of this thread so this may have been mentioned earlier...on the newly revived Regular Saver thread there is a product from Ecology BS which operates by DD.

https://www.ecology.co.uk/savings/savings-accounts/regular-savings/

youngretired

Has anyone had/got any experience with Ecology BS regular saver?

I have managed to get all my DD replaced but just thinking as a option.

bubieyehyeh

Ecology seems ok, seems to send more paperwork than you would expect for a ecological society, but internet access to check on balance is functional. Interest rate isn't great, but the DD works reliably.

Ashen

Just reading recent posts - unless I'm missing something, you don't need any DD's for TSB - except for the cashback promotion that only fairly recent joiners have?

Also, for Barclays, my reading is that the two DD's paid in a month can be from the same DD?

Mchambers

Barclays....Your assumption is correct.

ValiantSon

Ashen wrote: »

Just reading recent posts - unless I'm missing something, you don't need any DD's for TSB - except for the cashback promotion that only fairly recent joiners have?

Also, for Barclays, my reading is that the two DD's paid in a month can be from the same DD?

Correct on TSB. The DDs are just for the cashback. The terms and conditions of the account do not require you to have DDs to receive the interest.

badger09

youngretired wrote: »

Has anyone had/got any experience with Ecology BS regular saver?

I have managed to get all my DD replaced but just thinking as a option.

Yes. My account was set up painlessly and is working as expected.

bubieyehyeh wrote: »

Ecology seems ok, seems to send more paperwork than you would expect for a ecological society, but internet access to check on balance is functional. Interest rate isn't great, but the DD works reliably.

Agreed