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Are Post Office Online Saver regular deposits Direct Debits?
where_are_we
Posts: 1,341 Forumite
I have set up a monthly regular deposit from my nominated bank account to my Post Office Online Saver. My initial deposit was a "one off" direct debit from my nominated bank account. The P O website quotes "regular payments by standing order". From my P O online account I have set up a regular monthly payment from my nominated bank account to my P O O S. I thought a standing order had to set up from the paying account and could not be set up from the receiving account. So is this monthly regular payment a Direct Debit or not?
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Comments
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A regular deposit IN to your PO ac from your nominated ac is set up in yr PO ac. & is a DD.
A regular payment OUT of your PO ac set up in yr PO ac is a SO.0 -
I intend to use this "direct debit" to replace a Tesco DD (expires in April) from a high interest account that requires 2 DD`s. The wording "direct debit" is not used when setting up a "regular deposit from my nominated account" to my Post Office Online Saver. However when I "transfer money in" from my nominated account as a one off deposit it is worded as a "direct debit". Why do they not use the wording "direct debit" when setting up a regular deposit (one a month) from my nominated account but use it when making a one off deposit from my nominated account?0
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Well that's a question for the account provider, and perhaps a suggestion you could make to them, but what else could it be if not a direct debit? It could be a CPA I suppose, but then you'd have had to have given them your debit card PAN. Did you? There is no other way for cash to be 'pulled' from your current account by the savings account.where_are_we wrote: »I intend to use this "direct debit" to replace a Tesco DD (expires in April) from a high interest account that requires 2 DD`s. The wording "direct debit" is not used when setting up a "regular deposit from my nominated account" to my Post Office Online Saver. However when I "transfer money in" from my nominated account as a one off deposit it is worded as a "direct debit". Why do they not use the wording "direct debit" when setting up a regular deposit (one a month) from my nominated account but use it when making a one off deposit from my nominated account?0 -
Just a thought..... maybe they know that there are a lot of folks hunting for the elusive DDs now that Tesco will be leaving a large gap in the market??- and they don't want to be swamped?Being polite and pleasant doesn't cost anything!
-Stash bust:in 2022:337
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2024:Sewn:59Doggy ds,52pyramids,18 bags,6spec cases,6lav.bags.
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2025 3dduvets0 -
Can anyone see where I now go to check repeat payments into this account after the website change?
I set up a payment to cover the deleted Tesco DD, which came out today fine, but I just want to check that I have it set up as regular, (So I can just forget about it)
Westie983I’m a Forum Ambassador and I support the Forum Team on the Banking & Borrowing, and Reduce Debt & Boost Income boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySaving Expert.Save 12k in 2023 #58 Total (£4500.00) £2500.00/£5000 = 50.00%Sealed Pot Challenge ~17 #24 Total (£55.00) £0.00/£500 = 0.00%Xmas 2023 £1 a Day #13 Total (£85.00) £344.00/£365 = 94.24%Virtual Sealed Pot #1 Total (£500) £550.00/£500 = 110.00%£2 Savers Club 2023 #17 Total (£25.00) £45/£300 = 15.00%The 365 1p Challenge 2023 #7 Total £656.19/£667.95 = 98.23%Total £4095.19/£7332.95 = 55.84%0 -
Can anyone see where I now go to check repeat payments into this account after the website change?
I set up a payment to cover the deleted Tesco DD, which came out today fine, but I just want to check that I have it set up as regular, (So I can just forget about it)
Westie983
https://forums.moneysavingexpert.com/discussion/comment/74080320#Comment_74080320Did you really mean to put loose?
Lose: no longer possess, not to retain, unable to find
Loose: not firmly or tightly fixed in place0
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