Post office stopping direct debits

soulsaver

ZeroSum said:

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.

I seem to remember posters saying that a weekly PO DD was working - and that would be the same mandate?

ZeroSum

soulsaver said:

ZeroSum said:

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.

I seem to remember posters saying that a weekly PO DD was working - and that would be the same mandate?

It works for the co op, and did for tesco when they had the 3% interest.

But Halifax (and guessing lloyds also) specified 2 different mandates rather than just 2 DDs to be taken. If it did work, I stand corrected.

Daliah

ZeroSum said:

soulsaver said:

ZeroSum said:

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.

I seem to remember posters saying that a weekly PO DD was working - and that would be the same mandate?

It works for the co op, and did for tesco when they had the 3% interest.

But Halifax (and guessing lloyds also) specified 2 different mandates rather than just 2 DDs to be taken. If it did work, I stand corrected.

You should stand corrected 

soulsaver

Well if it works for @Daliah with the PO(assume) it should work for me with an alternative DD provider, but to be certain...

I discovered the OH has a nearly empty, nearly dead BoS CV ac, with no DDs so I'm testing it for November interest on £1k using my legacy ac, not the PO.

There's just enough time to get 2 DDs from my source to be the only DDs taken in the account in October.

eta:clarity

soulsaver

soulsaver said:

Well if it works for @Daliah with the PO(assume) it should work for me with an alternative DD provider, but to be certain...

I discovered the OH has a nearly empty, nearly dead BoS CV ac, with no DDs so I'm testing it for November interest on £1k using my legacy ac, not the PO.

There's just enough time to get 2 DDs from my source to be the only DDs taken in the account in October.

Well ta very much @Daliah : I can confirm with 2x October DDs for different values at different dates to the same account (not PO) did indeed work on a BoS Vantage ac and @ November 2nd interest for Oct has been paid.

I assume that'll work for Lloyds Club, too.

That saves me quite a lot of head scratching/admin and will free up several DDs for future use if necessary.

soulsaver

After March, I can't think of any need to keep the (multiple) PO accounts alive? Are we emptying all but 1 or maybe 2, or maybe good riddance?

block10

End of era. I was using PO DDs for Barclays rewards, 3x BOS accouts & Co-op.

MSE_Helen_K

Thank you for flagging these Post Office savings account changes on the Forum. We've written an MSE News story summarising them here: 

Get wages or benefits paid into a Post Office savings account? Set up an alternative account now or your payments will cease

where_are_we

soulsaver said:

After March, I can't think of any need to keep the (multiple) PO accounts alive? Are we emptying all but 1 or maybe 2, or maybe good riddance?

Their savings account interest rates are underwhelming. I will keep £1 in one account to keep an online presence, and note  interest payments (minimal!) for HMRC purposes and empty the rest and close. Luckily my need for DD`s has greatly diminished.

General_Grant

where_are_we said:

soulsaver said:

After March, I can't think of any need to keep the (multiple) PO accounts alive? Are we emptying all but 1 or maybe 2, or maybe good riddance?

Their savings account interest rates are underwhelming. I will keep £1 in one account to keep an online presence, and note  interest payments (minimal!) for HMRC purposes and empty the rest and close. Luckily my need for DD`s has greatly diminished.

Keep £1 and, after next return, it will be a nil report to HMRC.