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No charges for bounced DDs
MissG80
Posts: 126 Forumite
Hi I'm looking for a bank account that doesn't charge for failed Direct Debits - any ideas?
As of Oct 28th 2024:
Barclay credit card £4,000
Lloyds credit card £637
Emergency Fund £1,000
Barclay credit card £4,000
Lloyds credit card £637
Emergency Fund £1,000
0
Comments
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Lloyds, BoS (and presumably Halifax).
However why pay by D/D if you don't have the money - have you investigated alternative methods of payment?
Whilst the bank will not charge you for the returned D/D the beneficiary company well might.0 -
Managing your finances well avoids charges.0
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If you open an account for DDs (so you won't get charged if they fail) it may help you to budget better and ensure the funds are available for the DDs.
As Jones said, LBG don't charge and are the first I thought of too.I’m a Forum Ambassador and I support the Forum Team on the Budgeting & Bank Accounts, Credit Cards, Credit File & Ratings and Energy 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 MoneySavingExpert.
You don't have to be the best -
Just be better than you were yesterday.0 -
I've had a few failed direct debits yet on my current account with Halifax, they never charged me for it.0
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Santander don!!!8217;t either on their 123 or 123 lite account. 123 lite could be worth a look depending what direct debits are being set up as cash back may offset the £1 a month fee. Cash back is only earned when direct debits are actually paid though0
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