OPENING A SACRIFICIAL ACCOUNT. WHICH BANK?

[Deleted User]

Daliah said:

Deleted_User said:

Plum set me one up inside a day, the saver is not necessarily covered by FSCS but you can put £2 a week into a basic saver and take it out whenever so it's not a major consideration for me

Do Plum force you to do weekly DDs? If not, what's wrong with an annual one?

I didn't really check as it's an instant access saver where you can take the money out. Stuck £100 into Monzo, put the minimum in (the £2 a week), turned off the various stupid auto savers it keeps adding, as soon as the account is switched I will withdraw and close it as I will have 3 DD available that I can use for future switches.

Didn't see the point in an annual DD service where I lose the £1 setting up with that £1 DDs website but it's obviously an option

Daliah

Deleted_User said:

Daliah said:

Deleted_User said:

Plum set me one up inside a day, the saver is not necessarily covered by FSCS but you can put £2 a week into a basic saver and take it out whenever so it's not a major consideration for me

Do Plum force you to do weekly DDs? If not, what's wrong with an annual one?

I didn't really check as it's an instant access saver where you can take the money out. Stuck £100 into Monzo, put the minimum in (the £2 a week), turned off the various stupid auto savers it keeps adding, as soon as the account is switched I will withdraw and close it as I will have 3 DD available that I can use for future switches.

Didn't see the point in an annual DD service where I lose the £1 setting up with that £1 DDs website but it's obviously an option

I meant an annual DD with Plum, not with the cheeky £1 DDs websites.

[Deleted User]

Daliah said:

Deleted_User said:

Daliah said:

Deleted_User said:

Plum set me one up inside a day, the saver is not necessarily covered by FSCS but you can put £2 a week into a basic saver and take it out whenever so it's not a major consideration for me

Do Plum force you to do weekly DDs? If not, what's wrong with an annual one?

I didn't really check as it's an instant access saver where you can take the money out. Stuck £100 into Monzo, put the minimum in (the £2 a week), turned off the various stupid auto savers it keeps adding, as soon as the account is switched I will withdraw and close it as I will have 3 DD available that I can use for future switches.

Didn't see the point in an annual DD service where I lose the £1 setting up with that £1 DDs website but it's obviously an option

I meant an annual DD with Plum, not with the cheeky £1 DDs websites.

Yeah hence I said I didn't check - I think it's meant to encourage regular savings hence the weekly thing, plus it can do top-ups based on spending, I don't believe it would be setup for a yearly only deposit as that isn't the purpose of their setup but I didn't really look into any of that as I just wanted DDs so I could switch with active ones and then kill them off.

grandadgolfer

DD......plum / moneybox / thunderball £1 national lottery / daily mail digital trial £1 a month / radio times trial £1 a month,,,,,,and at least your getting something back for your £1 

phillw

grandadgolfer said:

DD......plum / moneybox / thunderball £1 national lottery / daily mail digital trial £1 a month / radio times trial £1 a month,,,,,,and at least your getting something back for your £1 

Or credit cards...

soulsaver

Subscription charges to 'spare' credit cards are useful: I have my OH mobile provider on one credit card - no other transactions. £6 pm goes on, £6 pm paid by DD.

grandadgolfer

phillw said:

grandadgolfer said:

DD......plum / moneybox / thunderball £1 national lottery / daily mail digital trial £1 a month / radio times trial £1 a month,,,,,,and at least your getting something back for your £1 

Or credit cards...

Forgot about that ......plus PayPal on eBay linked to your bank account 

PRAISETHESUN

grandadgolfer said:

phillw said:

grandadgolfer said:

DD......plum / moneybox / thunderball £1 national lottery / daily mail digital trial £1 a month / radio times trial £1 a month,,,,,,and at least your getting something back for your £1 

Or credit cards...

Forgot about that ......plus PayPal on eBay linked to your bank account 

Just make sure to select your linked bank account as the funding source, rather than a credit/debit card if using PayPal to ensure you pull a DD.

binao

Thanks for all your replys.

Is it OK then to have a DD to myself, CC, saving etc. Thought this was verboten.??

Bridlington1

binao said:

Thanks for all your replys.

Is it OK then to have a DD to myself, CC, saving etc. Thought this was verboten.??

Yes that's fine. As long as they are DDs that's all that matters. Once you've used them for switching, you can then move them over to a donor account ready for the next switch. It's the same with reward accounts, I've got 3 reward accounts that require DDs to be paid out and all the DD requirements are fulfilled by savings/investment accounts.