Savings accounts accepting DD's

YorkshireBoy

surreysaver wrote: »

Still need Club Lloyds and BoS for their regular savers, so might as well keep the accounts open as they are still okay for storing money for short terms that I might need immediate access to.
Can also use them as the source of standing orders, so would want to fill them up a working day or two before the first of the month

Agreed, and I operate the same. I kept one BOS for the regular saver, and I have both Lloyds regular savers too. But unless I'm mistaken, you only need DDs for interest. I intend to run with minimal balances for minimal time with both, post October.

Degsy

Hanley Economic Building Society Regular Saver accept the regular payments by Direct Debit. Some of their other accounts might do too, I seem to have 2 types of Regular Saver Account.



Hope that helps



Cheers,


Degsy

polymaff

YorkshireBoy wrote: »

Agreed, and I operate the same. I kept one BOS for the regular saver, and I have both Lloyds regular savers too. But unless I'm mistaken, you only need DDs for interest. I intend to run with minimal balances for minimal time with both, post October.

I've kept all of our Tesco, BoS and Lloyds bank accounts with a small amount in each - just in case something new turns up. As with yourself, finding DDs hasn't been an issue.

This week's Economist leads on the new "normal" in economics - interest rates no longer a weapon and heading down to zero - and beyond.

I guess that this thread - and many others - may soon become redundant!

surreysaver

YorkshireBoy wrote: »

Agreed, and I operate the same. I kept one BOS for the regular saver, and I have both Lloyds regular savers too. But unless I'm mistaken, you only need DDs for interest. I intend to run with minimal balances for minimal time with both, post October.

That's what I'm doing now. I have a NatWest Savings Builder, which handily needs me to empty to £50 more than last month a couple of days before the end of the month in order to work properly, so that pays 1.5%, then two days before the end of the month transfer to BoS & Lloyds, fund regular savers, and any regular savers maturing during the month get recycled back to the Savings Builder.
DDs just for interest, yes, but the DDs are there and working, so I'm just leaving them alone

DennisTenus

surreysaver wrote: »

That's what I'm doing now. I have a NatWest Savings Builder, which handily needs me to empty to £50 more than last month a couple of days before the end of the month in order to work properly, so that pays 1.5%, then two days before the end of the month transfer to BoS & Lloyds, fund regular savers, and any regular savers maturing during the month get recycled back to the Savings Builder.
DDs just for interest, yes, but the DDs are there and working, so I'm just leaving them alone

Why go to the trouble of the natwest savings builder if you could earn 1.5% with Marcus?

surreysaver

DennisTenus wrote: »

Why go to the trouble of the natwest savings builder if you could earn 1.5% with Marcus?

I had the account sitting around not doing anything anyway. Plus I generally manage my money from apps on my phone, far less trouble than having to log onto my PC all the time. I keep my zero % interest 123 Lite (which I use as my main account) at a zero balance as well, so the instant ability to transfer money to it is useful.

colsten

surreysaver wrote: »

I had the account sitting around not doing anything anyway. Plus I generally manage my money from apps on my phone, far less trouble than having to log onto my PC all the time. I keep my zero % interest 123 Lite (which I use as my main account) at a zero balance as well, so the instant ability to transfer money to it is useful.

You can log into Marcus from a mobile device, and they do faster payments, too. They are down to 1.45% AER now, though, for new accounts.

surreysaver

colsten wrote: »

You can log into Marcus from a mobile device, and they do faster payments, too. They are down to 1.45% AER now, though, for new accounts.

I should have got one before. NatWest SB only pays 1.5% on up to £10k too, so if I have a month with more than 3 regular savers maturing the excess has to earn 1% somewhere...

tel_

I need 2 new dd's set-up for the Club Lloyds account. I noticed the 2 dd's can be paid to the SAME account, but must be 2 SEPARATE dd's (separate mandates) from your Lloyd's account.

Instead of me opening 2 new savings accounts, does anyone know of where you can open say, just one new account, that allows you to set up more than one regular deposit?

I already have Birmingham & Midshires monthly & annual savers (both of these allow only one deposit/mandate) to be set up to your linked account.

How about the Post Office Online Saver account? Or the Ecology Regular Saver?

surreysaver

tel_ wrote: »

I need 2 new dd's set-up for the Club Lloyds account. I noticed the 2 dd's can be paid to the SAME account, but must be 2 SEPARATE dd's (separate mandates) from your Lloyd's account.

Instead of me opening 2 new savings accounts, does anyone know of where you can open say, just one new account, that allows you to set up more than one regular deposit?

I already have Birmingham & Midshires monthly & annual savers (both of these allow only one deposit/mandate) to be set up to your linked account.

How about the Post Office Online Saver account? Or the Ecology Regular Saver?

Yep. One each of those two will do. Good luck with Post Office, though, they're a bit hit and miss