Post office stopping direct debits

crumpet_man

Currently you can pay in with visa/maestro debit card but not MasterCard for some reason.

No announcement that they are stopping this but you never know.

anna42hmr

crumpet_man said:

Currently you can pay in with visa/maestro debit card but not MasterCard for some reason.

No announcement that they are stopping this but you never know.

Thats a good question, it is not clear as does not mention card payments, it only states as follows:

We have made some changes to your terms and conditions.These changes will come into effect on or soon after the 1st March 2022.   You can access your new terms and conditions on our webpage. Here you will also be able to find any further help and information on these changes including FAQs and video guides.   There is an overview of the key changes below, and you’ll find full details of the changes in the table at the bottom of this email.   Please read this email carefully and keep it safe, just in case you need the information at a later date. Why are we making changes to your Terms and Conditions?     We are always looking at ways to improve the service we provide to you by simplifying our products and continuing to keep your money safe   As well as making some specific changes detailed below, we’ve also re-written your terms and conditions, so they are shorter, easier to read and provide you with the key information you need. What’s changing?     Linked Account - For all savings accounts it is now necessary to provide details of a UK bank or building society current account in your name that can be ‘linked’ to your savings account. Please note:   Electronic deposits and withdrawals will only be allowed from and to your linked account. Deposits from third parties, such as salary, pension or benefits payments, will no longer be allowed. You will need to arrange for these payments to be re-directed to your current account. Cheque deposits from your linked account will still be accepted.     Email Address - All customers should now provide a valid email address. Please note:   This will ensure we can get important messages about your account to you as quickly as possible. We will not email you with information about other products or services unless you have given us permission to do this.     Direct Debit - You will no longer be able to deposit money using Direct Debit. Please note:   All Direct Debit deposits will be cancelled from 1st March 2022. If you want to continue making regular deposits you will need to set up a Standing Order from your linked current account. What do you need to do?   Unless you wish to make regular deposits into your savings account, you do not need to take any action.   We hope you’ll be happy with your new, simpler terms and conditions but, if you’re not, you have the right to close your account without notice, charge or loss of interest. If you want to do this, please do this before the 1st March 2022. If we haven’t heard from you by this date, we’ll assume you’ve accepted the changes.   You can find copies of the new General Terms and Conditions, Key Product Information Documents and Transaction Information Boxes on our webpage.    If you would like any further help and information on these changes you can visit our dedicated webpage. Here you can access our FAQs and find video guides that will help you with how to login and update any of your details.   Thank you for savings with us. Post Office Servicing

Changes to Terms and Conditions

Where you’ll find the changes in our terms and conditions   General Terms and Conditions   Section 3 – About your linked account Section 6 – Operating your account   How it’s changing   When you open or hold a savings account with us, you’ll need to have a UK bank or building society current account linked to it. This is known as your linked account.  We don’t accept wage, salary, pension or benefit payments of any kind into your account.  Deposits must come from your linked account (including cheques), unless it’s an internal transfer from a Post Office savings account, or a cash deposit made in branch, where this is allowed.  We can no longer accept deposits by Direct Debit into your savings account.  Cheque deposits must be crossed ‘account payee’ and made payable to your full name(s), and have your name(s) and registered address written clearly on the back.

Where you’ll find the changes in our terms and conditions   General Terms and Conditions   Section 6 – Operating your account

 

How it’s changing   It’s important that your contact details are correct and kept up-to-date.  Your contact details must include a valid email address, correspondence address (where you can receive mail securely) and a valid phone number.

Where you’ll find the changes in our terms and conditions   General Terms and Conditions   Section 10 – Changes to your account

 

How it’s changing   We’ve updated the scenarios where we can make changes to the variable interest rate, the terms of your agreement and/or our charges.  We can now make changes in the following situations:  if the Bank of England Base Rate changes, or we have good reason to believe it will; or if we need to meet any regulatory requirements, guidance, code of practice, decision or recommendation of any court, ombudsman or regulator, or any change in the law; or to reflect any changes in Bank of Ireland UK’s costs of providing funds (for example, caused by a change in market interest rates); or to reflect any change in the costs of providing your account, or if similar accounts change or are reasonably expected to change; or for any other valid reason not set out in the agreement, if it is reasonable for us to pass on the change to you; or our method of doing business changes, including the introduction of new technology or the advancement or change in our use of technology; or to make them easier to understand, fairer or to correct a mistake; or to improve our service to you or make it more efficient or cost-effective

ZeroSum

Oh well, that looks like I'll be switching the co op account next year. Not a massive deal since their drop in rewards

Yorkshire_Pud

As PO say on their log in page, ‘interest rates are gross’

I agree and so it will soon be bye bye PO. The WORST functionality of any banking website I’ve ever had the absolute hassle of trying to do anything with. 

soulsaver

So - just planning reducing my reliance on PO DDs.
Currently using a legacy account that still allows DDs plus a PO DD for each of our multiple Hfax/Bos acs with Vantage.

I was wondering whether 2 DDs to a single ac from the legacy provider would suffice for Halifax & BoS.

The terms say 'different' DDs but IIRC some were getting away with 2 DDs to the same company to qualify for 0.78% interest earning on their (ftaod not Reward) 'Classic Vantage' ? 

I know there are other options, but raising additional DDs on my legacy facility would be ideal as I can easily meet the OHs BoS demand for PO alternates, too. 

Couldn't find it in several searches, & wasn't sure what thread it would have been in.

Daliah

I have been doing all my DDs from a single legacy account for years, never had a problem at any bank with that approach.

ZeroSum

soulsaver said:

So - just planning reducing my reliance on PO DDs.
Currently using a legacy account that still allows DDs plus a PO DD for each of our multiple Hfax/Bos acs with Vantage.

I was wondering whether 2 DDs to a single ac from the legacy provider would suffice for Halifax & BoS.

The terms say 'different' DDs but IIRC some were getting away with 2 DDs to the same company to qualify for 0.78% interest earning on their (ftaod not Reward) 'Classic Vantage' ? 

I know there are other options, but raising additional DDs on my legacy facility would be ideal as I can easily meet the OHs BoS demand for PO alternates, too. 

Couldn't find it in several searches, & wasn't sure what thread it would have been in.

When the Halifax Reward account needed 2 different DD's I had 2 British gas DD's coming out (1 each for gas & leccy)
I think it doesn't matter if company is the same as long as its a different mandate.

tg99

Anyone else yet to receive notification from the PO that DD are ending?

hgt

tg99 said:

Anyone else yet to receive notification from the PO that DD are ending?

I've also not had the notification yet... but we all know what PO's IT systems are like!

lucky77

My email notificaton from PO only came yesterday.  Looks like sending they are sending them out over several weeks so their systems can cope!