Savings accounts accepting DD's

surreysaver

NoodleDoodleMan wrote: »

Please let us know how that pans out over the coming week.

The direct debits for my three Online Savers of the same issue have all worked. Not that anyone can open one at the moment!

surreysaver

pearl123 wrote: »

For Scottish Widows is it the Internet Saver Account account?

Yes yes yes

tg99

surreysaver wrote: »

The direct debits for my three Online Savers of the same issue have all worked. Not that anyone can open one at the moment!

Likewise though I only opened two.

NoodleDoodleMan

The direct debits for my three Online Savers of the same issue have all worked. Not that anyone can open one at the moment!

Thanks - I managed to open before new applications were suspended - DDs dated for a week hence, so that's good to hear.

colsten

My prediction: the next organisation ditching DDs for their savings accounts will be Scottish Widows.

Do forumites never learn?

bigadaj

colsten wrote: »

My prediction: the next organisation ditching DDs for their savings accounts will be Scottish Widows.

Do forumites never learn?

That's just the nature of a forum.

pearl123

colsten wrote: »

My prediction: the next organisation ditching DDs for their savings accounts will be Scottish Widows.

Do forumites never learn?

This is precisely the problem. Savings companies could close the door on DD.

NoodleDoodleMan

This is precisely the problem. Savings companies could close the door on DD.

Not sure why that should present a problem.

If Tesco Bank (for example) wanted to deter punters from using so called "cheap" monthly DDs, all it need do is change the Ts & Cs to require a minimum of £10 per DD, and a minimum balance of £100, or whatever amounts they consider appropriate.

I believe that is what Scottish Widows have done (or are the process of doing) with their relevant online savings account.

However, if savers have chosen specific savings accounts, and/or current accounts with good rates, for reasons other than having minimum cost DDs - then Standing Orders are a perfectly suitable and convenient alternative to manage pay ins.

castle96

will not be doing anything myself until nearer the date.....

NoodleDoodleMan

Chocky - keep up the good work, your headline list is really helpful.

Although its only relevant for those 50 + years of age........SAGA Telephone Easy Access Account offers DD pay ins.

Managing by 'phone only could dissuade potential customers - but you might want to flag it up above for information ?