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Direct Debits for switching newbie

Cambsalex
Posts: 21 Forumite

Hi all,
I’m looking at switching accounts for the bonuses and have been reading up on this forum to increase my knowledge. I’ve set up two accounts purely for switching purposes but I am having trouble understanding what direct debits are best to use.
I can transfer a couple of my active bills I pay but was hoping to find some quick and easy £1 DDs to set up to avoid having to transfer money to cover these existing bills.
I’m looking at switching accounts for the bonuses and have been reading up on this forum to increase my knowledge. I’ve set up two accounts purely for switching purposes but I am having trouble understanding what direct debits are best to use.
I can transfer a couple of my active bills I pay but was hoping to find some quick and easy £1 DDs to set up to avoid having to transfer money to cover these existing bills.
Does anyone have any suggestions of the best ones to set up that will be active quickly so I can start switching?
thank you so much in advance!
thank you so much in advance!
1
Comments
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Over on the Savings & Investments board, there’s a thread about savings accounts accepting DDs1
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Ecology allow them but they will take maybe 4-5 weeks to setup the account as you have to print the DD mandate and mail it
Plum as an example are a very quick D to setup
Use old credit cards, mobile phone etc for a quick DD - just make sure you put money into the account to cover bills0 -
Plum DDs are usually active in one week. Moneybox is a similar 'saving' app but I don't have experience of that one.
PayPal is usually my other go to DD for switching (and would normally take a payment in approximately one week) but the app seems to be having issues at the moment, as reported by several forum members too.
I've found magazine subscriptions paid by DD appear quite quickly. There are usually deals for the first few issues for £1 e.g. Radio Times. You have to remember to cancel the subscription of course but it can be useful.
Charity donations usually take a little longer to take the first payment but there are several that will allow you to set up a £1 or £2 monthly direct debit. You'd want to keep that going longer so that it doesn't cost the charity to set up the direct debit only for you to cancel it after a payment or two.2 -
grizzlegrizzle said:Plum DDs are usually active in one week. Moneybox is a similar 'saving' app but I don't have experience of that one.
PayPal is usually my other go to DD for switching (and would normally take a payment in approximately one week) but the app seems to be having issues at the moment, as reported by several forum members too.
I've found magazine subscriptions paid by DD appear quite quickly. There are usually deals for the first few issues for £1 e.g. Radio Times. You have to remember to cancel the subscription of course but it can be useful.
Charity donations usually take a little longer to take the first payment but there are several that will allow you to set up a £1 or £2 monthly direct debit. You'd want to keep that going longer so that it doesn't cost the charity to set up the direct debit only for you to cancel it after a payment or two.1 -
It's Plum Fintech. Billed as 'Plum: Smart Investing and Saving'.
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grizzlegrizzle said:Plum DDs are usually active in one week. Moneybox is a similar 'saving' app but I don't have experience of that one.
PayPal is usually my other go to DD for switching (and would normally take a payment in approximately one week) but the app seems to be having issues at the moment, as reported by several forum members too.
I've found magazine subscriptions paid by DD appear quite quickly. There are usually deals for the first few issues for £1 e.g. Radio Times. You have to remember to cancel the subscription of course but it can be useful.
Charity donations usually take a little longer to take the first payment but there are several that will allow you to set up a £1 or £2 monthly direct debit. You'd want to keep that going longer so that it doesn't cost the charity to set up the direct debit only for you to cancel it after a payment or two.1 -
Cambsalex said:grizzlegrizzle said:Plum DDs are usually active in one week. Moneybox is a similar 'saving' app but I don't have experience of that one.
PayPal is usually my other go to DD for switching (and would normally take a payment in approximately one week) but the app seems to be having issues at the moment, as reported by several forum members too.
I've found magazine subscriptions paid by DD appear quite quickly. There are usually deals for the first few issues for £1 e.g. Radio Times. You have to remember to cancel the subscription of course but it can be useful.
Charity donations usually take a little longer to take the first payment but there are several that will allow you to set up a £1 or £2 monthly direct debit. You'd want to keep that going longer so that it doesn't cost the charity to set up the direct debit only for you to cancel it after a payment or two.0 -
Players4you said:Cambsalex said:grizzlegrizzle said:Plum DDs are usually active in one week. Moneybox is a similar 'saving' app but I don't have experience of that one.
PayPal is usually my other go to DD for switching (and would normally take a payment in approximately one week) but the app seems to be having issues at the moment, as reported by several forum members too.
I've found magazine subscriptions paid by DD appear quite quickly. There are usually deals for the first few issues for £1 e.g. Radio Times. You have to remember to cancel the subscription of course but it can be useful.
Charity donations usually take a little longer to take the first payment but there are several that will allow you to set up a £1 or £2 monthly direct debit. You'd want to keep that going longer so that it doesn't cost the charity to set up the direct debit only for you to cancel it after a payment or two.
Plum have a weekly DD from your account, you can set it down to £2 a week or similar. Make sure you turn off all the robo saving stuff or it'll raid your account every week on top of the scheduled one
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I have a query related to this thread. I set up 2 direct debits on an account in order to switch it to nationwide. They both appear to be set up i.e., they are listed in my direct debits but the 1st payment on each dd is not due yet.
I have already initiated the switch but reading some of the replies on this thread, I now wonder if I should have waited until after the first payment?1 -
A lot of people do like to wait but if you take a look on the Nationwide switch thread there are replies from forum members who have spoken to Nationwide - they say that any active direct debit will count and by active Nationwide count any DD that shows on the account i.e. it's not necessary for the payment to have been taken. Hopefully that holds true.
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