Savings accounts accepting DD's

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  • 20SmthngSver
    20SmthngSver Posts: 512 Forumite
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    Even for the initial deposit? It says cheque or bank transfer. Isn't the direct debit form for continuous payments after you've opened?
  • 20SmthngSver
    20SmthngSver Posts: 512 Forumite
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    Hi. I think it's one.

    But when you open it, they set up two mandates to your linked account. One for manual direct debits (whenever you feel like transferring) and another for a set date recurring direct debit. So it's effectively two direct debits should you wish it to be me.
  • Zero_Sum
    Zero_Sum Posts: 1,567 Forumite
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    Chadsman wrote: »
    Is this using a platform rather than dealing with them direct?
    Their website suggests the minimum deposit when dealing direct is £100.

    Using them direct. The £100 regular payment is only for initial investment.
    Their website is a bit misleading as they dont really tell you about this.
    I have several DD's for £15 & a £1 one into the cash holding account to cover fees
  • quirkydeptless
    quirkydeptless Posts: 1,219 Forumite
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    20SmthngSver wrote: »
    Even for the initial deposit? It says cheque or bank transfer. Isn't the direct debit form for continuous payments after you've opened?


    I've just checked my account, it was opened with a 0 balance, and my first payment was made by DD
    Retired 1st July 2021.
    This is not investment advice.
    Your money may go "down and up and down and up and down and up and down ... down and up and down and up and down and up and down ... I got all tricked up and came up to this thing, lookin' so fire hot, a twenty out of ten..."
  • 20SmthngSver
    20SmthngSver Posts: 512 Forumite
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    quirkydeptless wrote: »
    I've just checked my account, it was opened with a 0 balance, and my first payment was made by DD

    Ah ok. Thanks. I don't now if they've changed it now then.

    The application has to be opened with a bank transfer or cheque, for the minimum opening balance of £25 with direct debits to be a minimum of £10. This is for the Easy Access account.
  • quirkydeptless
    quirkydeptless Posts: 1,219 Forumite
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    20SmthngSver wrote: »
    Ah ok. Thanks. I don't now if they've changed it now then.

    The application has to be opened with a bank transfer or cheque, for the minimum opening balance of £25 with direct debits to be a minimum of £10. This is for the Easy Access account.


    My check was against my Regular Saver.


    Yes, I opened an EA account too, which did need an initial payment of £25 (which I made by Bank transfer), so there's is a difference between opening the accounts.
    Retired 1st July 2021.
    This is not investment advice.
    Your money may go "down and up and down and up and down and up and down ... down and up and down and up and down and up and down ... I got all tricked up and came up to this thing, lookin' so fire hot, a twenty out of ten..."
  • 20SmthngSver
    20SmthngSver Posts: 512 Forumite
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    Cool, thanks.

    Do you think it would be an issue to open by cheque from one account and set up the DD from another?
  • quirkydeptless
    quirkydeptless Posts: 1,219 Forumite
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    20SmthngSver wrote: »
    Cool, thanks.

    Do you think it would be an issue to open by cheque from one account and set up the DD from another?


    Sorry, don't know.
    Retired 1st July 2021.
    This is not investment advice.
    Your money may go "down and up and down and up and down and up and down ... down and up and down and up and down and up and down ... I got all tricked up and came up to this thing, lookin' so fire hot, a twenty out of ten..."
  • 20SmthngSver
    20SmthngSver Posts: 512 Forumite
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    I've given up on Post Office Money. I've tried a few more times and it just won't have it. I'm going with Ecology instead which is more outlay than I wanted but I can't be hanging about waiting for it to work on the off chance as I'm wanting to do a switch.

    I tweeted to Post Office Money and they didn't really care. I'll keep trying on the off chance but I'm not trying every day like I have been.
  • clivep
    clivep Posts: 579 Forumite
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    castle96 wrote: »
    How many B'ham Mids a/c's can I have. Cant see a limit


    My wife and myself have 2 each which were opened at the end of 2017. I believe this is the limit unless they've changed it since.


    A/cs had to be opened with a cheque but subsequently the linked a/cs can be changed easily online.
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