Savings accounts accepting DD's

Ed-1

NoodleDoodleMan wrote: »

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 ?

Can you set up multiple direct debits from SAGA?

Mchambers

chockydavid1983 wrote: »

Current list accepting new customers:
Tesco (only until 04/18 for anyone)
Scottish Widows Internet Saver Account (£10 minimum DD and £10 minimum balance)
Post Office Online Saver (can only DD in from one nominated account)
Chip and Plum (app based)
Birmingham Midshires Internet Saver Account (can only DD in from one nominated account)
SAGA Telephone Easy Access Account (age 50+)

Other DD ideas:
Paypal (reported as in the process of being removed)
Credit cards
Charities
Credit Unions
Christmas Savings (not FSCS protected)

I will update this post with any other accounts that crop up but if you notice one that's not listed here just let me know (on the post itself or private message) and I'll update this post :-).

Thanks for SAGA.

wiseonesomeofthetime

chockydavid1983 wrote: »

Current list accepting new customers:
.....
Post Office Online Saver (can only DD in from one nominated account)
. ....

The Post Office Online Saver is currently unavailable
Unfortunately the Post Office Online Saver is currently unavailable. Please check back again frequently to learn more or apply.

Read more at https://www.postoffice.co.uk/savings-accounts/online-saver#CDzYImJLuiHD2K2T.99

NoodleDoodleMan

Can you set up multiple direct debits from SAGA?

I doubt it - their 'phone number is 0345 850 0664, if you wish a definitive answer.

Rich2808

surreysaver wrote: »

With Scottish Widows, there is no limit as to how many Internet Savings Accounts you can have. They will be changing their conditions to state you will need a minimum balance of £10 in each account, however. And the monthly direct debit is a £10 minimum.

The online service for the Scottish widows internet saver is currently unavailable 'as they are carrying out essential maintenance'. You can't log into existing accounts or open a new one. That sort of thing is normally done late a night - not 6pm on a Friday?!

We shall see how long the 'essential maintenance' takes!

horizon21

littledebits DOT org (I can't post links, yet.)

That's a service I scoped not too long ago.

Other ways you can meet the DD requirement:
Apply for a credit card like Aqua, make 1 small purchase a month that you would make anyway and set up a DD to pay the amount in full every month from the account that needs a DD to meet a bank's T&C for the financial incentive.
This one requires an initial investment but I already had it: Open a Stocks & Bonds ISA in Vanguard (min £500 investment to create one) and set up a DD for £0.01 if you wish on the desired account.

colsten

SevenOfNine wrote: »

Not sure what the problem is, this is an open savings & investment advice forum

You may not understand it, but you have correctly described the problem.

[Deleted User]

Deleted_User wrote: »

Chip and Plum are great ideas. You can use either one of these on your Co-operative account and do 4 separate manual transactions of £1 in 10 seconds on the first day of the month. Hey presto, that's your 4 Co-op DD payments for the month dealt with. Then immediately move it all back (if you want) in one move in less than 3 seconds. You can turn off the automated saving, but (if you forget to do this) you get a message each time money is moved out of your current account and you can turn it around straight away. To avoid the annoying message ping, best to turn off the automatic saving. Only thing you can't do is set up a fixed amount DD for a fixed date. I don't see Chip or Plum ending the DD facility for depositing savings as their automatic system depends on it.

So far, very efficient. DDs for both Plum and Chip set up on (different) current accounts. Only one current account allowed to be linked in either case. Money pulled manually on both. I've allowed both to pull money automatically, just to try it out. Works fine. But I've switched off the auto faculty as I prefer to control the pulls (just need one a month, unless linked to a Coop current account when you do 4 pulls). No danger of DDs ending as this business model depends on DDs for the auto pulls which is the novelty of this savings model.

Westie983

pearl123 wrote: »

I wish paypal had been upfront about removing DD, as I spent ages trying to relink and when I spoke to customer services they just said it was not working.

Hunting for new DD is a pain in the ....

It still works!!

I have just instructed to pull money from the five accounts I have registered on my account.

You are unable to use the website to pull via DD but you can using the app.

Westie983

djpailo

adindas wrote: »

This is not a Saving account but this is a prolific DD generator. It works like a gun machine. Very efficient even blind people that could hit the target by firing huge amount of bullets in a month... :D:D:D

https://gocardless.com/

It says on the homepage that it is for businesses though.