M&S switch bonus

elephantrosie

one of the criteria is at least 4 direct debits. is this monthly?

also, how about if i have direct debit set up to an individual (not my name)- is this considered one too?

masonic

It's 4 direct debits. There is no requirement for them to pay out at any particular time.

If an individual were to register to receive direct debit payments, and you were to authorise them to collect money from your account, then yes it would count. The cheapest pricing I've seen is from GoCardless who will collect low value direct debits for you for just 20p per transaction. You could even do it yourself.

elephantrosie

thanks. i did not realise it is four direct debits, not within a month.

well, thats good.

planteria

4 is a lot.. most switches/bonuses/rates have depended on 2 DDs ime.. but i suppose nowadays 4 DDs does indicate a 'proper' current account.

i use all sorts of DDs, including credit card payments, regular savings, small investments with friendly societies.. enough to keep 10 current accounts ticking.

elephantrosie

with credit card payment, that is coming out from my tesco current account.
i wonder if i set 10 quids from another account to credit card account, is that consider direct debit?

on further thoughts, that is more of a standing order (same as paying landlord the same amount every month)

Franz123

I have to check this one.

KWebber

If you just want to set something up for the switch I would try little debits (I'm restricted from posting links sorry!). They have 5 or 6 different direct debits at £1 each that (apparently) goes to charity.

Worked great for my last switch to Nationwide - Cancelled them as soon as the switch was done. Worst case you pay 2 months for 4 so £8

Another good one is PayPal (Just by linking your account). So with that and your CC you would only need to add 2!

masonic

elephantrosie wrote: »

with credit card payment, that is coming out from my tesco current account.
i wonder if i set 10 quids from another account to credit card account, is that consider direct debit?

on further thoughts, that is more of a standing order (same as paying landlord the same amount every month)

No, a standing order is not equivalent to a direct debit, and a credit card account will only have one active direct debit. But, you can have more than one credit card and spend something on each one every month.