Savings accounts accepting DD's

PRAISETHESUN

They definitely haven't removed the facility - although I have noticed in the past that they sometimes don't make it very obvious to find.

In order to move funds into your PO Savings account using the DD mandate, you first need to link your account if you haven't already - it takes 1 business day to link your account however money cannot be moved into your account using this mandate for 10 business days whilst it is being set up. Once set up you can request to "Move Money" into your account through their online banking portal - if you use your Linked account as the funding source (it sometimes defaults to credit/debit card) then it will move money using direct debit from your bank account.

aj23_2

I think the OP needs updating. Tesco Bank and Scottish Widows need to be removed.

There's a RS by Ecology BS that accepts DD payments £25-250 a month. You can top it up each month by transfer or cheque if you don't DD for the full amount. One to add.

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

aj23_2

In addition to my previous post, you can save by DD into Ecology BS Easy Access account too.

https://www.ecology.co.uk/savings/savings-accounts/easy-access-2/

Steve_xx

aj23 wrote: »

In addition to my previous post, you can save by DD into Ecology BS Easy Access account too.

https://www.ecology.co.uk/savings/savings-accounts/easy-access-2/

That's interesting. And it it possible to set this account to pull a number of Direct Debits, or would it be limited to one?

aj23_2

Steve_xx wrote: »

That's interesting. And it it possible to set this account to pull a number of Direct Debits, or would it be limited to one?

One DD into the account collected on second working day of the month. Ability to top up by cheque or transfer each month too.

You could open both the Regular Saver and the Easy Access account, and fund both by DD. Both have different min. and max. deposit requirements though if using DD.

Steve_xx

aj23 wrote: »

One DD into the account collected on second working day of the month. Ability to top up by cheque or transfer each month too.

You could open both the Regular Saver and the Easy Access account, and fund both by DD. Both have different min. and max. deposit requirements though if using DD.

Thanks for that, and the detail of the regular saver. Though at the moment, I'm favouring Al Rayan's 18 month bonds, 'expected rate' of 2.32% over the majority of drip feed regular savers.

aj23_2

Steve_xx wrote: »

Thanks for that, and the detail of the regular saver. Though at the moment, I'm favouring Al Rayan's 18 month bonds, 'expected rate' of 2.32% over the majority of drip feed regular savers.

I have Al Rayan's 1yr FTD. But if you're stuck for DD ideas, then these two by Ecology are good.

chockydavid1983

OP updated

aj23_2

I've just set up a PO Saver 35. Opted for one-ff DD to initially deposit. After 8 days, can I set up a recurring DD? Need it to switch to Nationwide for Refer a Friend scheme.

bristolleedsfan

aj23 wrote: »

I've just set up a PO Saver 35. Opted for one-ff DD to initially deposit. After 8 days, can I set up a recurring DD? Need it to switch to Nationwide for Refer a Friend scheme.

No need to wait can set up more than 1 separate DD instruction.

I did same thing set up one off DD. I then tested to see what happened if I set up weekly instruction , turned out both instructions were active. I cancelled one off DD