Savings accounts accepting DD's

Iceweasel

bristolleedsfan wrote: »

Some of us have had Santander E-Saver direct debits operating for years now its gonna get ruined like other such things that got ruined by the forum previously.

Just like being a citizen of the EU then.

derrick

hgt wrote: »

The Post Office account should alow a single DD per account (they call it a linked account in their speak).

AA however haven't offered Direct Debits for years. They did used to offer them when they were using the Birmingham Midshires platform, but since they changed provider, they no longer offer the facility.

AA Savings do still operate DD's, I have been using for years and only in mid April 2018 did I change my linked account from Halifax to Lloyds.


The following is form the back of a letter to me from AA Savings dated 18th April 2018, regarding me changing linked bank account, and is nearly word for word re a letter from them in similar circumstances dated 03rd January 2013:-



If you haven’t authorised the set up of this Linked Account you must act immediately
by contacting our Savings Team on O845 603 6302.

We use the Direct Debit system so that you can move money from your personal Linked
Account in a safe and secure way. No transactions will be made by Direct Debit unless
you've authorised them. You'll find a copy of the Direct Debit guarantee enclosed and this
explains the safeguards that are in place in the unlikely event of an error.

It takes up to 10 banking days to fully set up your Linked Account. During this time you’ll be unable to make any deposits into your account. You'll also be unable to make any
withdrawals from your internet savings account for 5 banking days.

If you're a new internet savings account customer you'll also receive a separate letter from us asking you to complete your confirmation slip and send a cheque for your opening deposit.
Please note you,ll be unable to operate your internet savings account until we’ve received all relevant documentation.

If you don’t transact using the Direct Debit facility within the next 12 months, you should
Check with your bank before moving money to or from your internet savings account as the Direct Debit instruction may be cancelled. If the Direct Debit is cancelled you’ll need to set up a new instruction by logging into your account and selecting ’Your Linked Account’. To avoid this happening in the future, if your linked account is an easy access savings account you can set up a regular payment from your Linked Account.

For your information, all money transfers between your Linked Account and your internet
savings account will be made quoting your account number: **********. Please keep this
letter as a record of your Linked Account details.


Thank you for investing with AA Savings.






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veryintrigued

Iceweasel wrote: »

Just like being a citizen of the EU then.

Someone's having a spectacularly bad morning

lucky77

djd1965 wrote: »

New to thread so apologies if my point is already covered.


Just opened an AA Easy Saver and a PO Online Saver. To my dismay, both say that you can save regularly by standing order. Is this a recent change away from direct debits?

Could you please let us know if you managed to set up a direct debit to the new PO Online Saver (Issue 30)?

djd1965

lucky77 wrote: »

Could you please let us know if you managed to set up a direct debit to the new PO Online Saver (Issue 30)?

The DD is currently being set up and is showing as pending in my account.

TheShape

adindas wrote: »

I understand minimum blance is £100. Is there any minimum amount of DD to be taken from link account to this saving account (e.g £1, £10, etc)?

Post Office Saver minimum balance is £1. I've had a £1 DD taken from linked account.

TheShape

bristolleedsfan wrote: »

Some of us have had Santander E-Saver direct debits operating for years now its gonna get ruined like other such things that got ruined by the forum previously.

For anyone opening new accounts to generate DDs it would be a good idea to set statement frequency to the minimum possible, turning off postal statements entirely if possible to save on admin/postal costs for whatever institution you've opened an account with. It may not help but it might.

adindas

TheShape wrote: »

Post Office Saver minimum balance is £1. I've had a £1 DD taken from linked account.

Yes. I am aware of Post office saving account but I was asking about the AA Easy Saving in which djd1965 is refering to in post #657 and # 668.

TheShape

adindas wrote: »

Yes. I am aware of Post office saving account but I was asking about the AA Easy Saving in which djd1965 is refering to in post #657 and # 668.

Post #668 appeared to reference only the PO Saver. Hadn't noticed the earlier post about both AA and PO accounts.

TheShape

TheShape wrote: »

Has anyone set up the Santander eSaver to pull more than one DD from the same account ie 2 DDs from Halifax, BOS, Lloyd's etc.

adindas wrote: »

I have been having Santader eSaving for many years. If my memory serves well they only allow you 2 or 3 (?) DD.

And you will need to set up DD using the fprm and send to them. Once I set uo more than 2 and they retunr my DD instruction form with a nice letter explanining max number of DD.


Has anyone managed to set up DD more than 2 (or 3?) DD from Santander eSaver

Thought setting up 2 DDs from Halifax would be a simple way of getting the 2 DDs and only necessitate sending one bank statement with the forms. I imagine it might confuse things trying to set up 2 DDs from the one account though.