Savings accounts accepting DD's

latinaid

1Foz wrote: »

Interestingly, Birmingham Midshires have allowed me to open two of its internet savers - one of the monthly interest paying account and one of the yearly. Just an interesting thought for anyone that needed another DD.

link : https://www.birminghammidshires.co.uk/savings/easy-access-savings/?WT.seg_3=BMHOMEEAS1

But how would that help? You can only make one initial payment into the yearly account - no further deposits are allowed.

polymaff

latinaid wrote: »

But how would that help? You can only make one initial payment into the yearly account - no further deposits are allowed.

Where does it say that?

latinaid

polymaff wrote: »

Where does it say that?

If you look at the Summary box for the yearly account, it says 'You make your initial deposit payment on the day you open the account and you don't make any further deposits.'

This is normal for a fixed term account.

clivep

latinaid wrote: »

If you look at the Summary box for the yearly account, it says 'You make your initial deposit payment on the day you open the account and you don't make any further deposits.'

This is normal for a fixed term account.

That's only an example to illustrate interest earned. Further deposits are allowed.


You are allowed 2 Internet Saver accounts. Both of mine are annual interest and have monthly direct debits set up.

latinaid

Ah right, so it's not a fixed term account - sorry, my mistake.

polymaff

The clue was in the link...:)

https://www.birminghammidshires.co.uk/savings/easy-access-savings


I have two of these accounts servicing the co-op's requirement. Only downside is that withdrawals are slower than most.

quirkydeptless

polymaff wrote: »

The clue was in the link...:)

https://www.birminghammidshires.co.uk/savings/easy-access-savings


I have two of these accounts servicing the co-op's requirement. Only downside is that withdrawals are slower than most.

You can service Co-op with one Post Office saver drawing weekly.

bristolleedsfan

quirkydeptless wrote: »

You can service Co-op with one Post Office saver drawing weekly.

Or one Birmingham Midshires account drawing weekly as well. :rotfl::)

1Foz

Guys , think I messed up my linked account on Birmingham midshire. They want a cheque right? I only have a cheque book for my first direct acciunt. Don't suppose they'll accept me sending a cheque from a diff account than the link ? I thought the account stated first deposit had to come from the link , which I can do by transfer or debit payment , but can't send a cheque from it.

20SmthngSver

latinaid wrote: »

But how would that help? You can only make one initial payment into the yearly account - no further deposits are allowed.

Not true. I direct debit into both the Yearly and Monthly internet savings accounts from two different linked accounts, both with a one-off mandate and as a regular mandate (so 4 direct debits in total), every month. No payment has ever been rejected.