Using paypal for direct debits with lloyds and Halifax

pauljoecoe

I am trying to find a way of creating direct debits on my Lloyds and Halifax accounts to obtain the Halifax reward and the interest on the Lloyds.

I have worked how to draw money from the bank account to paypal however I am just wondering...

Is there a minimum amount that Halifax or Lloyds want a DD to be to qualify?

Does it matter that all the DD are going to the same paypal account. i.e. 3 per month for Lloyds and 2 per month for Halifax?

alandaniel132

£3 for halifax for reward current account.

pauljoecoe

alandaniel132 wrote: »

£3 for halifax for reward current account.

You mean the direct debits must be £3 or that the reward is £3?

DCFC79

pauljoecoe wrote: »

You mean the direct debits must be £3 or that the reward is £3?

The reward is £3 for the account.
Do you not have credit cards ?
I use a post office savings account that uses direct debits.

For using the Lloyds club account you also get another reward from a choice of some cinema tickets, I think 4 pairs (coukd be more) a year or a magazine subscription (pick from a selection), cant recall the other options, you can change the freebie once a year.

Zanderman

pauljoecoe wrote: »

Is there a minimum amount that Halifax or Lloyds want a DD to be to qualify?

No

pauljoecoe wrote: »

Does it matter that all the DD are going to the same paypal account. i.e. 3 per month for Lloyds and 2 per month for Halifax?

Very probably. Read the T&C.

Lloyds says, for example:

We will pay interest on a credit balance in your account for
that billing period as long as you have a minimum of two
different direct debit mandates paid from your account
during the calendar month

So no, they can't both be to the same Paypal account.

I suspect halifax is similar.

If you search the threads you'll find a lot of discussion about dd requirements for these and similar situations.

Westie983

Taken from the Halifax Bank Account T&C's starting guide http://static.halifax.co.uk/assets/pdf/bankaccounts/pdf/bank-account-guide.pdf

The Halifax Reward Current Account pays you £3 reward payment a month, to say thanks. We give you £3 each calendar month, when, in the previous calendar month, you:
Pay in £750 or more and;
Have a minimum of two different direct debit instructions paid from your account and;
Have not gone overdrawn on your Reward Current Account by the end of any day during the calendar month

So two DD to PayPal will not qualify for the reward payment.

Westie983

masonic

Westie983 wrote: »

Taken from the Halifax Bank Account T&C's starting guide http://static.halifax.co.uk/assets/pdf/bankaccounts/pdf/bank-account-guide.pdf

The Halifax Reward Current Account pays you £3 reward payment a month, to say thanks. We give you £3 each calendar month, when, in the previous calendar month, you:
Pay in £750 or more and;
Have a minimum of two different direct debit instructions paid from your account and;
Have not gone overdrawn on your Reward Current Account by the end of any day during the calendar month

So two DD to PayPal will not qualify for the reward payment.

Two direct debits to different Tesco savings accounts definitely did count, so it's possible two direct debits to different Paypal accounts might count. I'm not aware of anyone trying this though.

beefturnmail

I don't think you can have two separate personal paypal accounts, one of them would have to be a business account

Chino

beefturnmail wrote: »

I don't think you can have two separate personal paypal accounts

So have you actually read this in Paypal's terms and conditions or are you simply engaging in idle speculation?

Money_Grabber13579

beefturnmail wrote: »

I don't think you can have two separate personal paypal accounts, one of them would have to be a business account

I have had two PayPal accounts for many years. All you need is a different email address.

pochisoldi

pauljoecoe wrote: »

I am trying to find a way of creating direct debits on my Lloyds and Halifax accounts to obtain the Halifax reward and the interest on the Lloyds.

I have worked how to draw money from the bank account to paypal however I am just wondering...

Is there a minimum amount that Halifax or Lloyds want a DD to be to qualify?

Does it matter that all the DD are going to the same paypal account. i.e. 3 per month for Lloyds and 2 per month for Halifax?

In my experience, the requirements are two different payees, and £1 is enough.

However, you should be careful: accounts opened after I opened mine may have different conditions.

My method used to be Yorkshire Building Society savings account (ex - Egg) £1 per month and Tesco Internet Saver (£1 month).

When Tesco dropped their direct debit funding option, I moved a couple of sub £20, "middle of the month" direct debits over (one to Lloyds, one to Halifax).