Savings accounts accepting DD's

20SmthngSver

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

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

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

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

20SmthngSver

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

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.

20SmthngSver

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

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.

20SmthngSver

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

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.