Birmingham & Midshires - Direct Debits

tel_

When setting-up Direct Debits from your nominated accounts website, do you just enter B&M's own account number as stated on their site, and your personal account number as the reference. Is that correct?

I'm a bit confused as it only states details for their Faster Payments Service?

I want to make a deposit. What are your bank details?
For payments through the Faster Payments Service:
Sort Code 30 02 51 Account Number 06968870For telegraphic transfers:
Sort Code 30 02 51 Account Number 06968870 You must quote your personal account number as your reference.

PRAISETHESUN

I think you are confusing Direct Debits (DDs) with Standing Orders (SOs) here. Setting up a DD for a regular or one-off payment with Birmingham Midshires is all done through their online banking portal - you link your current account during the account opening process. Then from within the BM online banking you set up a regular or one-off deposit, and they will use the DD mandate to pull money from your current account - no need to mess around with payment references, etc. This is the easiest and safest way of moving money between your accounts.

Otherwise if you want to send money directly from your current account, then you can pay in as you've outlined above - this can be a one-off FP or a regular SO payment. There is more that can go wrong this way so I'd recommend sticking to the DD option.

tel_

Yes, I was confusing myself with DD's & SO's PRAISETHESUN. Many thanks for your fab explanation. I kind of realised that after posting :embarasse.

PRAISETHESUN wrote: »

Then from within the BM online banking you set up a regular or one-off deposit, and they will use the DD mandate to pull money from your current account.

If I was to send two deposits per month to my B&M account, would this count as two seperate DD's per month to satisfy certain bank accounts' T&C, or does it not matter how many DD's you send a month, it's the actual DD mandate that only counts as one DD?

badger09

tel_ wrote: »

Yes, I was confusing myself with DD's & SO's PRAISETHESUN. Many thanks for your fab explanation. I kind of realised that after posting :embarasse.



If I was to send two deposits per month to my B&M account, would this count as two seperate DD's per month to satisfy certain bank accounts' T&C, or does it not matter how many DD's you send a month, it's the actual DD mandate that only counts as one DD?

There's no easy answer to this.

Some banks insist that DDs come from different places, others accept multiple mandates from the same place. If you tell us which bank you want the BM DD to pull from, we might be able to help.

You do realise though that you can only link one current account to your BM savings account?

tel_

badger09 wrote: »

You do realise though that you can only link one current account to your BM savings account?

Yes I do. I actually have two BM savings accounts for that very reason, which are both linked with different bank accounts.

badger09 wrote: »

There's no easy answer to this.

Some banks insist that DDs come from different places, others accept multiple mandates from the same place. If you tell us which bank you want the BM DD to pull from, we might be able to help.

One bank is M&S, the other Barclays.

youngretired

M&S are 2 active DD's for the regular saver so this would require 2 mandates, but they don't have to be claimed monthly. If it's the 4 DD for the switch incentive then sorry I don't know.

Barclays should accept the 1 mandate claimed twice or more for the Blue Rewards, as I tried this last year with 1 Post Office Online Saver claiming weekly and it worked. So unless they have changed this then it should be OK.

tel_

youngretired wrote: »

M&S are 2 active DD's for the regular saver so this would require 2 mandates, but they don't have to be claimed monthly. If it's the 4 DD for the switch incentive then sorry I don't know..

It will be 4 DD's for me.

youngretired wrote: »

Barclays should accept the 1 mandate claimed twice or more for the Blue Rewards, as I tried this last year with 1 Post Office Online Saver claiming weekly and it worked. So unless they have changed this then it should be OK.

Thanks for the info, this is getting interesting

tel_

youngretired wrote: »

M&S are 2 active DD's for the regular saver so this would require 2 mandates, but they don't have to be claimed monthly.

So a PayPal DD would be sufficient?

badger09

tel_ wrote: »

So a PayPal DD would be sufficient?

Yes. As long as you remember to use it at least once a year.

Katiehound

youngretired wrote: »

M&S are 2 active DD's for the regular saver so this would require 2 mandates, but they don't have to be claimed monthly.

One (or more) could be an annual DD- club membership, magazine subscription etc

tel_

youngretired wrote: »

Barclays should accept the 1 mandate claimed twice or more for the Blue Rewards, as I tried this last year with 1 Post Office Online Saver claiming weekly and it worked. So unless they have changed this then it should be OK.

Can anyone confirm who's recently switched to the current Barclays Blue Rewards promotion, that 1 mandate claimed twice (twice monthly I take it) is sufficient enough? It sounds like it.