Active Direct Debits...?

Not_Radio2

I may be having a blond moment, but the terms of the TSB £75 incentive to switch to them says:-

"Within 28 days of the switch completing, you must have a minimum of two active Direct Debits registered on your Classic or
Classic Plus account and pay at least £500 into it".

My switch has just completed to them and I realise I have two Standing Orders on my new account, not DD's. I've asked TSB if within the first 28 days of the switch the new DD's I need to now get set up, do they actually mean set up and a payment made from them, or simply sitting there set up and ready to pay when due.
They haven't responded to me yet. Could anyone here help please?

I've set one for £1 for a 6 issue subscription to Radio Times, which will start paying in the next fortnight, which I'll then cancel before the next full payment to them is due, and wanted to set a £2 monthly DD to the Brooke Donkey aid charity, but looking on their website the earliest I can make a payment from a DD to them will be at least a month from now. That will be too late to qualify for the incentive switch if the new DD needs to be active and a payment already made.

Hope that makes sense. Thanks in advance to anyone that can help.

youngretired

Active DD are DD that are set up on the account and are live. DD's become dormant after 13 months if not claimed on.

If the DD's are showing set up on the account then this should be good enough as they are active, but I've never done the TSB switch incentive so cannot confirm that this would fulfill TSB T&C's but it should.

badger09

The problem is that some banks do not show DDs until they are paid for the first time. If TSB are one of those banks, then they will not qualify as 'active' until 1st payment.

OP, if you're happy that the Radio Times will count as one DD, you could open an account with Birmingham Midshires - or even a Post Office online saver account, both of which can be funded by DD from your new TSB account. You should be able to open immediately and set up DD to pay within about 10 days;)

More options here: https://forums.moneysavingexpert.com/discussion/5734632

PRAISETHESUN

An "active" DD is generally one that has been set up and is ready and able to move funds if called upon. DDs remain active for either 13 months from when they were set up (if never used) or from the date of last payment. I haven't done a TSB switch before so I can't speak from experience, but I would argue that if it appears on your online banking then you should be good. To be on the safe side though, I'd suggest that you actually use DDs that have paid out. PO/BM Savings are good options, although they are a bit on the slow side to set up. Another good option is to pay for something by PayPal - make sure you use your linked bank account as the funding source rather than a credit/debit card though or it won't count as a DD. Plenty of other options in the linked thread above if you take the time to read.